I’ve always been fascinated by different people’s opinions and approaches, whether in their personal or professional lives. In a work environment, this applies all the way from task management and efficiency, to navigating the intricacies of company politics, and managing entire departments effectively.
Recently, I’ve noticed more and more attributes in entrepreneurs that could be beneficial to corporate employees. Many senior managers and directors exhibit entrepreneurial attributes, and have found a way to apply them in a corporate environment.
These attributes include:
Self-sufficiency: All successful entrepreneurs have the ability to be self-sufficient, while knowing how and when to deploy resources. This is driven by their understanding that other people will never be as invested in a project as the owner. Removing expectations helps them manage projects and relationships more effectively. They also appreciate that they must give away value in return for greater commitment and ownership.
Challenge: I challenge anyone in a corporate environment to offer part of their bonus to other team members to help them achieve their objectives.
Problem solving: Regardless of how much planning we do, problems will always arise in business environments. Entrepreneurs think outside the box more often, with fewer mental restrictions. Asking others how to tackle difficult problems helps to fast track the solutions. Corporate challenges can, and should, be thought of in the same way. It’s very liberating. Insular or restricted thinking within a team can kill initiative, and lead to a lot of frustration.
Challenge: I challenge corporate employees to ask questions about a problem they’re facing to someone and debate the options with another before they engage with their line manager.
Managing stakeholders: Entrepreneurs all have investors in some shape or form. It’s a very real existence of managing the money of someone you’ve sat down with and looked in the eye. Company employees may have a disconnect with shareholders, but do well when treating their stakeholders with a similar mindset. Take ownership of problems, keep the group informed of successes and challenges, and consult on important decisions. Manage company money as if it was your own and you will likely get more from it.
Challenge: I challenge company teams to manage themselves at a profit and loss level, and consider all aspects, including salaries and expenses, to promote creative thinking in this space.
Take away messages –
1. Take ownership, and have lower expectations of team members
2. Separate yourself from challenges, ask questions, and think openly about solutions
3. Manage stakeholders as though they are investors in you and your team
I don’t mean to over simplify or stereotype entrepreneurs, but I hope this helps identify key attributes and how they can be applied in a different environment to benefit and create more commercially minded and effective leaders.
As an entrepreneur, employee, and mentor, I’m fascinated by personal development and helping people achieve their personal and professional objectives. I post related content regularly, so please follow The UnExtraordinaries to receive updates. If you enjoyed this article, consider giving it a Like or sharing it, to help it reach a wider audience. If you want to get in touch, feel free to contact me here or on LinkedIn.
Have a great day!