In Part 1 of this topic, we covered the definitions of leadership and entrepreneurial leadership, and listed qualities that business leaders share. In this post, we’ll explore how those skills help leaders to build their organization.
How entrepreneurial leaders build an organization:
As leaders are building an organization, these 3 questions may provide clarity:
- What am I trying to create?
- Why do I want to create it?
- How am I going to act during the creation process?
The answers will help define the vision and provide focus. Only then can the vision be effectively communicated to your partners, employees and customers.
Develop yourself as a leader first. If you do not possess the necessary skills to lead the organization, you can hire someone who does, or you can develop these qualities in yourself.
Recognizing those employees who think like entrepreneurs and harnessing that energy will help to develop future leaders. Whether these leaders become valued employees or become part of your succession plan, it’s a good first step to retaining your key employees. Employees who feel heard, who feel like they’re making a contribution and that their efforts are appreciated become fiercely loyal; it will be very hard for a competitor to steal an employee who feels valued.
When leadership skills are developed within an organization and employees understand that they are on a leadership track, they become more emotionally invested in the company. This provides the owner with a future exit strategy that makes it more likely that their vision will live on, and the corporate culture will remain intact.