Strategy

11th January 2018

The Entrepreneur’s Dream

“I am going to find a business where I don’t really have to deal with customers or employees. And it will be a business where I really don’t have to work a lot, but it makes me a lot of money”. So runs the daydream of the entrepreneur. The entrepreneur who is caught in the trap.

There are a lot of traps in the world of business; the financial trap, the team trap, the growth trap, the cash trap to name but a few. The successful entrepreneur is the one who can find a way to extricate himself from each trap that tries to ensnare him.

The chance of finding a profitable business where you don’t have to deal with customers or employees is very slim. The challenge is that as our business scales, which we need it to do, if we want to be more successful, then we will have more customers to deal with and more employees to deal with. Typically, true entrepreneurs are not always too keen on dealing with either customers or employees, so the challenge is how do we become proficient enough at doing both so that we don’t become trapped?

As the well-known thought leader and respected author Simon Sinek once commented “if you don’t understand people, you don’t understand business” Business is all about people. The good news is that even if we aren’t natural people people most of the skills that we need to make a decent fist of our relationships with others are both teachable and learnable. These competencies are generally referred to as Emotional Intelligence. Author and speaker Martyn Newman has studied emotional intelligence specifically as it refers to transformational leadership and his book ‘Emotional Capitalists’ is not only a great introduction to emotional intelligence but is essential reading for any leader with a desire to get better. There is also an assessment the he has devised for those serious about developing their leadership skills.

It is possible to avoid many of the traps, the people trap and the team trap specifically, by developing the competencies that you need. So, as we start another year what are your plans to develop the competencies that you need so that you are not trapped in or by your business or job? Many years ago, the late Jim Rohn advised people to work harder on themselves than on their job. It was true then and is even more so now. So, don’t dream of a different world, start to build the skills, the competencies and the attitudes that will enable you to handle this one even better. What are your personal growth goals for the coming year?