Being an entrepreneur this concept is very close and somewhat personal. It appears this common term has many different meanings which directly impact their Mindset. Since we work with so many small business executives, there have been some amazing discoveries regarding their thoughts.First, many entrepreneurs come from very large corporations with the typical big company mindset. Using both experiences and research findings, the corporate mindset has been focused upon safety and security – not to mention sharing the risk of decisions. If you look deeper at the safety and security elements the sharing of risks becomes self-evident.
Their mindset is focused upon playing not to lose, while being seen in the eyes of their superiors as both a team player and someone to keep long term on the team. What’s interesting about this type of behavior is the lack of urgency to move fast in their work processes. Committees are okay, since it acts as a forum for more dialogue and gaining buy-in from people who influence their leaders. Activities are known to take a higher preference as compared to getting results.
Second, there are group of entrepreneurs who “think small” relative to their business. They do things on a daily basis which slow the growth of their business. Yes, I know it is called a “small business,” yet there is no reason to remain small. Their are business owners who “do not want to hire anyone” because of “?” – well, they’re people. People cause complexity and force more decisions on the owner. And, well, the small business owner is too busy being a small business owner. This means this owner is doing all the work!
Most people measure growth in terms of revenue which is the most common measurement guideline. Our research has found it is more important to track the number of employees as a measure for business growth. The more people employed by a business, the more complexity is added to the agenda of the entrepreneur. Adding complexity – in the form of more people – forces the mindset of the entrepreneur to change. This can lead to the next entrepreneurial mindset.
The Third Entrepreneurial Mindset is the Enterprise Mindset. This is type of mindset that has created very large organizations, some of which started in a garage. Apple Computer comes to mind or Microsoft. The leaders of these organizations started small and built an enterprise with thousands of people employed.
What was the difference between an Enterprise like mindset and a Sole Proprietor type business? One thought like a small business and remains small. While the other Enterprise Mindset leader thinks about being a dominant player – even to the point of creating their own industry or market. These entrepreneurs get out of their own way by thinking big, thinking about opportunities, and most importantly taking actions to build a larger enterprise.
There are models for building an organization or great business coaches or advisors who can help you either to get started or to break out of the status quo. If you are not sure who to contact about being an entrepreneur, give us a call at 901-757-4434. And, talk to either Voss or myself.
Live Your Greatness!
Robin L Graham