1.5.6. Moving from Entrepreneur to Leader Flashcards
What are difficulties of moving from entrepreneur to leader?
- delegating
- trust and verify
- being less reactive
- learning to listen
- emotional intelligence
Why can delegating be a difficulty?
Business owners may wish to oversee every little detail of the company, but this only slows down processes and can demotivate workers. A good leader will accept they cannot have a hand in everything and push key decisions further down the chain of command.
Why is trusting and verifying a difficulty?
Good leaders will surround themselves with strong management who are able to complete tasks efficiently, to a high standard and if possible under budget. This may mean cutting out some members of the business.
Why is being less reactive a difficulty?
Although creativity and innovation are normally the prominent factors in the beginning of a company’s growth, they will eventually need more: systems, to control business processes, such as human resources, finance, marketing, training and strategy. When implemented correctly, these systems can help free up time of the employees and allow them to be even more creative.
Why is learning to listen a difficulty?
The entrepreneur will need to develop their listening skills, giving room for more voices to join business discussions in order to find their value. A good leader will surround themselves with advisers, who have the knowledge required to help the company grow and stride towards success.
Why is emotional intelligence a difficulty?
If a business owner gets so emotionally involved in the business that they explode at every wrong turn, employees might be afraid to speak up, creating a negative business environment and the owner missing vital information since people are too scared to speak up.
