Wednesday, October 6, 2010

Four Aspects Of Entrepreneurial Success


Every entrepreneurial business - regardless of what stage of growth it is in - needs four personalities at the helm:
  1. A seller: someone to market the product.
  2. An improver: someone to improve the product.
  3. An organizer: someone to make sure things flow smoothly.
  4. A pusher: someone to get people to do what they are supposed to do.
When you begin your business, if you don't have a partner, you may have to handle all of these functions. As your business grows, you will probably hire people to take on most of them - but at least during the first two stages (and probably longer), you should be in charge of one of them.

Which one should that be?

Most business experts would say that the most important role for the business leader is to be the organizer, to make sure that all the parts of the business work well together. That's probably great advice if you are running a Fortune 500 company. But if you're starting and developing an entrepreneurial business, I would focus on something else. To me, the most important job of any entrepreneur - and the one role you should not give up as your business grows - is to be in charge of marketing your products.

During the first two stages of growth, the priorities should be in this order:
  1. Selling
  2. Pushing (to make sales)
  3. Improving (products and sales)
  4. Organizing
This doesn't mean you have to do the marketing and selling all by yourself. You don't have to write your own advertising copy or become our company's top salesperson. But you do have to understand how your business creates its revenues, and you have to be able to step in and stimulate more sales when they are needed.

That is the ultimate strength of an entrepreneur: the ability to stimulate sales. There are many other important skills that can help your business succeed ( I would rank the ability to create great products very high on any list, for example), but there are none that will make as much as a difference as salesmanship.$

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