1.5.6 Entrepreneur to Leader

Question 1

Difference between an entrepreneur and a leader

Answer 1

Entrepreneurship is a set of attributes that an entrepreneur possesses and practices in starting their business.

Leadership is the process of influencing people and providing an environment for them to achieve their organisational objectives.

Question 2

Difficulties of moving from an entrepreneur to leader

Answer 2

1. Learning to delegate.
2. Trusting others.
3. Listening to others.
4. Having an open mind.
5. Being more proactive.
6. Developing emotional intelligence.

Question 3

Why is it important for leaders to learn to delegate?

Answer 3

• Empower staff.
• Motivate workers.
• Maintain high levels of quality.
• Increase focus.
• Set good culture in business.

Question 4

Why is it important for leaders to trust others?

Answer 4

• Improve relationships.
• Increase quality of work.
• Improves communication.
• Trust is 2 way.

Question 5

Why is it important for leaders to listen to others?

Answer 5

• More ideas/opinions.
• More choices.
• Better chance to learn.

Question 6

Why is it important for leaders to have an open mind?

Answer 6

• Involving staff in decision making = more motivation.
• Greater productivity.
• Feedback can improve the level/quality of work.

Question 7

Why is it important for leaders to be more pro-active?

Answer 7

• Entrepreneurs are used to taking quick actions and making decisions on the fly.
• As a leader, it’s important to take a more strategic and measured approach to decisions.

Question 8

Why is it important for leaders to develop emotional intelligence?

Answer 8

• Leaders need to be able to understand their own emotions as well as team members.
• Fosters a sense of well being in staff and keeps them motivated.