Every business starts out with an entrepreneurial spirit. If you are growing quickly or if you are a business that has been growing. Sometimes the entrepreneurial spirit can disappear. The challenge is maintaining it when growing fast or creating the entrepreneurial spirit within a business that has slowed down.
I have been lucky enough to observe and work with some great entrepreneurs. Here are my 5 observations of how they have created or invigorated growth through their teams.
1. Keeping the identity of the business alive and focused.
Giving clarity to the business core values and purpose. Being clear about business goals and engaging the teams so they rally round and generate actions. Being relentless in making sure the business doesn’t forget this, celebrating success along the way and learning from challenges. They focus the team on outcomes first enabling a clear line of sight.
2. Getting your team to be comfortable with ambiguity
Taking risks or as one entrepreneur calls it “allowing experiments to happen.” Not waiting till something is perfect before testing or trying. Creating time and frameworks that enable teams to sharing experiences and learning from experimenting without criticism or challenge.
3. Investing in growing people and recruiting for the future
With rapid growth some of your team might hit the ceiling and need training or coaching to cope with the pace. Some of the team may not fit anymore. Recognising this and addressing this timely means the business performance won’t be slowed. Recruiting with future skills in mind. Recruiting smart people who are team players enables the rest of the team to grow.
4. Making decisions quickly
Allowing the team to make decisions and encouraging ownership. Creating a framework that supports quick decision making. Ensuring that the decision making group doesn’t become too big and that everyone knows their role. Being persistent about preparation before decision is key, getting the information circulated and questions asked and answered enables pace.
5. Know your strengths, play to them and ask for help
Entrepreneurs are really good at knowing their own limits and getting the relevant help they need when they need to take the next steps. They know their own strengths but also their team’s. They focus on strengths and encourage their team to do the same.
How entrepreneurial are you?