Entrepreneurial Leadership Can Save Any Business
One of the realities of being an entrepreneur is that you have to keep learning and changing to survive. Everyone on the startup team knows there is no buffer, and no personal isolation from impact based on your job description that can save you.
Optimized risk can rescue a focused company
The reason for this is that old companies tend to move slowly and resist innovation and creativity.
However, the principles he discusses are just as important for the large organization as the small. The key is to take focused, optimized risks immediately to save the company.
ï»¿Minesï»¿ the necessary concentrated effort and focus by the entire company on rescuing the business in order to pass obstacles. This can be a problem with mature leaders who are reluctant to take drastic and quick measures, often choosing to avoid the risk needed to save the company.
Notes that following a system intended to rescue the business quickly will lead to success:
- "Total focus on delivering to the customer." Company-wide focus on meeting the needs of the customer is essential. In small organizations and startups, all employees have close contact with customers, and everyone must focus externally on pleasing the them.
- "Optimizing risk, not minimizing it." In order to progress and salvage the organization, risks must be taken, and sometimes they are drastic. The key to success is in carefully designing the risk for optimal results. Catch mistakes early to avoid collapse.
- "Constantly being creative and innovative to get better." Older companies tend to grow fearful of change, a tendency which drives them into the dirt. A company must adapt and innovate to become competitive again in the marketplace, and elevate the company from the ashes.
- "Taking personal responsibility for organizational results." Older companies slip into the rut of thinking that individuals are only responsible for their specific job description. Agile companies, however, recognize that to save a company additional responsibilities must be taken on by all and employees, and they need to be held accountable.
- "Understanding the wider picture." After administration has mapped a new vision for the company, they must ensure that the big picture inspires every single employee. The new vision must affect their decisions and choices, and the ranks must be monitored to ensure the vision permeates the organization.
- "Keeping things simple." Good entrepreneurs and management realize that over-complication kills the innovative idea by increasing risk, mistakes, and customer dissatisfaction.
- "Inspiring people around you with a clear vision and target. " Employees need the customer driven vision repeated and emphasized, so they take the focus as their own. Change will not happen in an organization if management doesn't trickle down the vision, to saturate the entire company.
Interested? Click the article's title above to read full original.
Source is Forbes.com
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Before you leave, let us know what your thoughts are on rescuing a company on the brink of demise. What is missed in this overview?
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