At the end of Phase One entrepreneurs feel pretty good. They have found real customers for their prototype product or service. In Phase Two entrepreneurs must figure out how to: 1) deliver their product or service, and 2) satisfy customers while finding new customers, and 3) run the enterprise. It does not make sense to [...]
Continue Reading: Leading an Enterprise in Phase Two: Making it Happen →In my last post I wrote about how all enterprises must go through 4 distinct Phases in order to mature fully. In order for an enterprise to be fully mature it must be value producing and self-sustaining. Leading an enterprise from inception to full maturity is not easy, only Entrepreneurial Leaders can achieve this. I [...]
Continue Reading: Leading an Enterprise in Phase One: Getting the Idea Right →I get a steady stream of visitors coming to ask me for advice on entrepreneurship. I am constantly meeting with Princeton students, local entrepreneurs, and entrepreneurs from around the world that happen to be visiting the area. I get all sorts of questions but most of them fall into the general category of, “what should [...]
Continue Reading: Entrepreneurial Leaders Understand Trees →This website makes a big point that entrepreneurs and leaders have almost diametrically opposed personal ambitions. Entrepreneurs have selfish motives for their actions in wanting to make the world change to accommodate and accept their idea and what they want to do. A leader, on the other hand, need to make the people around them [...]
Continue Reading: Steve Jobs’ Tough Lesson in Entrepreneurial Leadership – a Different Take on His Legacy →If you want to lead an enterprise or company you will do a better job if you understand how they work. Most people think that you need a business degree of some sort to understand how a company works, but most successful Entrepreneurial Leaders (ELs) never went to business school. Studying accounting or marketing or [...]
Continue Reading: Enterprise 101: A Simple Powerful Model for How Enterprises Work →I want to discuss the dangerous implications of the most commonly accepted definitions of entrepreneurial success. Using wrong or misguided definitions of success puts entrepreneurs at risk of working hard to ultimately win the wrong race. Let me make my point by discussing the four most common implied definitions of success: When you search [...]
Continue Reading: Dangerous Definitions of Entrepreneurial Success →What is entrepreneurial success? Getting a company launched? Being the boss? Creating jobs for others? Making money (or creating social value if a non-profit)? Creating an enterprise that matters to customers and employees alike? Most entrepreneurs can succeed at getting a company launched and being the boss. I want to challenge and help entrepreneurs to [...]
Continue Reading: Achieving Entrepreneurial Success →Most entrepreneurs are disappointed with their results. Some of the most careful research in the field indicates that: • Over 30% of all entrepreneurs in America give up before even launching their business • Once their business has launched, the average entrepreneur makes less than they would have if they had a comparable job – [...]
Continue Reading: Entrepreneurs Can Do Better →If you are talking about entrepreneurship you may not know what you are talking about. Entrepreneur is an overused term that can mean almost anything. The problem with reading books, articles and blogs on the subject of entrepreneurship is that you may not realize which definition a person is using. Sometimes authors use multiple definitions [...]
Continue Reading: Do We Agree On What Entrepreneur Means? →An Entrepreneurial Leader (EL) is more than an entrepreneur and a leader combined. An EL must be both selfish and selfless at the same time. And that requires plenty of skill. Let me define ‘skill’; it is the ability to perform a prescribed task. Skills can be learned although each person may demonstrate a greater [...]
Continue Reading: Entrepreneurial Leadership Skills →