How To Turn A Great Entrepreneur Into A Great Leader

Ready To Transform Into A Great Leader?

Entrepreneurs and leaders are often considered one and the same. While the two go hand in hand, there are stark differences between the two.

Entrepreneurs do not always make good leaders and some leaders are ineffective entrepreneurs.

Entrepreneurship involves creating and managing a business from start to finish. They need to develop skills and abilities to be self-sufficient when forming a business. It requires recognizing opportunities, taking risks, innovation, and the ability to be self-directed.

A leader is primarily focused on bringing people together to achieve a common goal in an efficient manner. A good leader is efficient at managing people and resources. They are able to look inward and outward for answers. They need to be able to solve both small and large problems.

While these two roles seem to contradict each other, there are ways to bridge the gap between the two. Here are some practical steps to be both a good entrepreneur and a good leader.

One of the most difficult areas for many entrepreneurs is knowing when to trust others with important tasks. The entrepreneurial side of you wants to do everything yourself.

A good leader knows that allowing others to help is more effective than doing everything yourself. Delegating responsibilities to others helps to get more done. It also improves the quality of work.

Individuals can specialize in specific areas and begin to master those talents. You will then be able to think clearly without needing to handle so much by yourself. As a result, your business becomes much more efficient.

The innovative nature of entrepreneurs does not like being weighed down by processes. It wants to create without any limits. However, a good leader realizes the need for a sound process to run a successful business.

Well-thought processes help provide your business with structure. They make it easy to measure performance and quickly make changes. As a leader, you can identify:

• Who’s performing well
• Who’s underperforming
• What is working best for the company
• What is important going forward

Processes are not simply blocks to creativity. They act as guidelines to help everything stay on track. They help your team understand the direction you are heading and how you plan to get there.

Good leaders are supportive of the people who work for them. They understand that a good business needs happy and productive workers. Employees will make a commitment to you when you make a commitment to them.

A good leader helps employees develop their own skills and talents. When employees feel supported, everyone in the business benefits.

A good entrepreneur must have a clear vision for their business. This includes what it does, how it serves its customers and investors, and where it is going.

The vision cannot be vague. It must be detailed and precise.

A good leader must be able to clearly express this vision to their team members. If others are not on the same page, it will be harder to achieve anything. Sharing your vision will inspire others and help everyone work together for a common goal.

A good leader knows the importance of building a team that works well together. You could hire all the best individual employees but if they do not work well together, the results will not be what you want.

One bad apple in your team can impact everyone else’s performance. They can lead to:

• disagreements
• resentment
• distrust
• confusion

It is similar to the human body. Your hand could be the best part of your body; however, if it becomes infected and threatens the rest of the body you would need to cut it off.

Imagine trying to perform a task like riding a bike.  For your body to do so, you need each leg and your core muscles all working together in unison.

You can think of your team the same way. Having a balanced team is more important than having the best individual talent.

A good leader will measure the performance of their team and address any individual who is bringing the team down.

Being an entrepreneurial leader allows you to have the best of each. You can tap into your individual creativity while still addressing the big picture.

When you begin to look at your business through the perspective of a leader, you see that bearing the burden alone is not the best way to push your vision forward.

By bringing others together, and investing in their growth, you create a team that is able to achieve more than you could on your own. Doing so will help you create your vision while still being able to innovate and set the new norms.