Lifecycle of an Entrepreneurial Company
Birth. Many companies begin their lifespan with a strong entrepreneurial culture. The organisation is led by the vision and values of the initial team members involved in organising the company.
Adolescence. This is a critical phase where new directions and processes are typically introduced. Rules and boundaries are established throughout the company based on the leaders' trial-and-error experiences. As the organisation grows, expert leaders are brought in to assist in the company's growth - experts who may not have the same vision and values of the company founders. During this phase, the company culture becomes more corporate and mature.
Adulthood. Experts are pushed into leadership roles without the necessary training and development to motivate and inspire through the company's vision. Outside leaders are recruited who may not understand the industry or the existing culture. New leaders begin establishing standardisation throughout the organisation using cumbersome forms and templates or unnecessary policies and procedures. Ineffective leaders are unaware that too much standardisation and micromanagement can chase away the entrepreneurial spirit.
How to Develop an Effective Leader
Effective leaders are the key to maintaining a culture driven by the entrepreneurial spirit. It can be challenging to develop effective leaders that embrace the vision of the company, so how can you cultivate your functional experts to become more effective leaders?
Establish Clear Vision and Expectations. The vision of your company is the cornerstone for all other goals, policies, strategies, and actions. The vision should be clear enough so that it can be easily woven through all other company goals.
Teach Leaders to Create the Vision. Coaching your leaders to uphold your company's vision is the most effective way to keep the entrepreneurial spirit alive. It's more than just teaching the vision -- the words have to align with the behaviour and culture. An effective leader will be relentless when it comes to ensuring that the vision pervades all aspects of the company's culture and behaviour.
Evaluate Potential Hires and Develop Leaders. Use an assessment tool like Hudson RPO's 5 + 1 Competency Model® or The Career Fit Indicator© to evaluate your potential hires and develop your employees into high quality leaders.
Birth. Many companies begin their lifespan with a strong entrepreneurial culture. The organisation is led by the vision and values of the initial team members involved in organising the company.
Adolescence. This is a critical phase where new directions and processes are typically introduced. Rules and boundaries are established throughout the company based on the leaders' trial-and-error experiences. As the organisation grows, expert leaders are brought in to assist in the company's growth - experts who may not have the same vision and values of the company founders. During this phase, the company culture becomes more corporate and mature.
Adulthood. Experts are pushed into leadership roles without the necessary training and development to motivate and inspire through the company's vision. Outside leaders are recruited who may not understand the industry or the existing culture. New leaders begin establishing standardisation throughout the organisation using cumbersome forms and templates or unnecessary policies and procedures. Ineffective leaders are unaware that too much standardisation and micromanagement can chase away the entrepreneurial spirit.
How to Develop an Effective Leader
Effective leaders are the key to maintaining a culture driven by the entrepreneurial spirit. It can be challenging to develop effective leaders that embrace the vision of the company, so how can you cultivate your functional experts to become more effective leaders?
Establish Clear Vision and Expectations. The vision of your company is the cornerstone for all other goals, policies, strategies, and actions. The vision should be clear enough so that it can be easily woven through all other company goals.
Teach Leaders to Create the Vision. Coaching your leaders to uphold your company's vision is the most effective way to keep the entrepreneurial spirit alive. It's more than just teaching the vision -- the words have to align with the behaviour and culture. An effective leader will be relentless when it comes to ensuring that the vision pervades all aspects of the company's culture and behaviour.
Evaluate Potential Hires and Develop Leaders. Use an assessment tool like Hudson RPO's 5 + 1 Competency Model® or The Career Fit Indicator© to evaluate your potential hires and develop your employees into high quality leaders.
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