Today, ten percent of Americans own their own business. Another 57 percent say they dream of owning their own business.  And with that dream are hopes, fears, fantasies, and illusions of what it is really like to be a business owner. Yet the promise of financial independence and the ability to be self-determining carries strong appeal. The process of beginning a  business is more complex than is commonly percieved. 

Entrepreneurs need to answer many questions, "Who is going to be passionate about this company and why?" With so many innovative and high potential companies, entrepreneurs soon realize that their business vision has to be dynamic to secure good management, compelling to attract and keep customers. It has to be inspiring enough to motivate investors. While a proprietary technology or methodology is excitig, it takes more than that to make a company's vision compelling. It takes well-defined strategies that can be executed by mature leadership to build a solid company and genterate an excess rate of return.

Executive To Entrepreneur

Executive To Entrepreneur is a transition many are making in mid-life today. Yet how can those who have risen to top levels in the corporate world translate their skills into such an undefined, creative, and risky environment?  It is quite different to execute within a corporation with a staff and a budget, than it is as a beginning entrepreneur, often alone and with inadequate capital.  New outlooks, skill sets, and internal resources need to be developed. 

Entrepreneurs must be able to manage multiple processes, challenges, and people each day.  To do this effectively, they have to cultivate the right attitudes.  They need to develop habits that support them.  They must try to take care of themselves in spite of many demands.  They must work tirelessly and maintain some semblance of balance in their lives. 

Entrepreneurial leaders need to protect the company by thinking about what could go wrong.  They need to help their staff see that they can “succeed” in the face of many failures.  They need to encourage everyone and yet, remain resilient. They need to be able to psychologically handle the discrepancy between where the company is – and where they want to take it.  They have to be willing to try and fail and try again.  They need to be unswervingly dedicated. Entrepreneurs need to be very focused – and to be able to keep their eye on everything that’s happening around them.  Ultimately effectiveness is based on leadership and is key to the process of building a company of lasting value.

Leadership

Ideas, even good ones, can sit on shelf indefinitely. It takes people…. leaders…with a willingness to risk and a good plan…to make ideas into a reality.

It takes determined, capable, talented people working with focus. These individual leaders have to be both optimistic and realistic.  They must be motivated, willing to work hard, and to just do what it takes.  They have to be able to work collaboratively on a team. From the CEO to the receptionist, an entrepreneurial attitude is essential.  When individuals can take responsibility for their own results, the potential is remarkable. Strong leaders that can create teams with these qualities are invaluable to any endeavor.