1.5.6 Moving From An Entrepreneur To A Leader Flashcards
Define entrepreneur
Person who sets up a business and takes risks in the hope of profit or reward
Define leader
The action of leading a group of people or an organisation, or the ability to do this.
What are the difficulties in developing from an entrepreneur to a leader?
- adapting the mindset
- stress
- delegating responsibility
- developing emotional intelligence
- lack of leadership qualities
Why is adapting the mindset a difficulty?
Because entrepreneurs usually have a desire for control however they need to learn how to delegate. They have to believe that specialists will do a better job.
What is one major cause of stress for an entrepreneur?
The worry that debtors will fail to pay what they owe
How is sharing ownership and control a difficulty?
Some entrepreneurs may feel that their leadership is being undermined, which may cause conflict.
How can these difficulties be overcome?
- delegation and trust
- earn respect
- maturity and experience
- education
- reduce stress
