No Entrepreneur can be an island

With the UK economy having been largely flat since September 2010 and growth limited to just a paltry 0.2% in the 2^nd quarter of this year, only companies who are able to respond quickly to changing demands and provide the levels of quality and service demanded by their customers look set to thrive.

What this environment creates is great competition in markets and results in  a rise in entrepreneurialism. All individuals have some entrepreneurial traits but in today’s world for an organisation to be truly effective it requires a mix of strong leadership, team working and entrepreneurial flair.

Possessing entrepreneurial skills does not however necessarily equate to being an entrepreneur. Most successful Managing Directors have the inherent entrepreneurial skills and abilities that give them the instinct for success, but it is equally important for them to release other kinds of entrepreneurial skills from within their senior managers as they cannot operate efficiently on their own.

The skills I try to ensure are in my managers, and in the managers of those business owners I mentor, are:

Motivation and willingness to follow ideas through into actions

Sufficient autonomy to have the confidence to trust their instinct, but balanced by a level of accountability which ensures that information is shared, ideas are discussed and benefits and issues are identified. (Having mavericks that go off on different tangents is dangerous)

The ability to think ideas through from creative, developmental and operational aspects. You need people around you who can spot the potential from each situation and can maximise their perception for both the client and the organisation

Sufficient maturity of approach (nothing to do with age!) to recognise and manage potential risks

Finally, you need people around you who understand and can respond to your personality and nature. We entrepreneurs are supremely focussed and we are a difficult breed to work with, tending to be more willing to work on the edge of a precipice than most others would be.

I believe I was born an entrepreneur and that is what has helped me to achieve what I have to date. But I could not have achieved what I have without sufficient people around me who could understand my motivation, translate my thinking into clear, concise actions and ultimately see the job through.