Entrepreneurship is a valuable asset that is important for any business, especially in the modern world of high-technology businesses. To have the spirit of entrepreneurship naturally means that there is the willingness to take risk, the power to innovate, and the ability to strive beyond the perceived normality.
It is usually said that young people have more entrepreneurship spirit than older generation. Perhaps it may be true, or it may be not. That would be a debatable topic. In this article, however, I would like to focus on the importance of sustaining entrepreneurship.
In the fast paced world we live in today, we see a lot of examples of successful entrepreneurs that come and go; very few of them continue to shine as bright when compared to their initial start-up success. Why is that so? Why does the fire appear to die down as time passes?
Firstly, I would like to point out that the important matter that sustaining entrepreneurship does not mean the company is not successful; but it is to continuously look into how it can be as creative and innovative as when it first started out. In essence, it is to ‘keep the fire burning as bright as ever’.
When a company first starts-up, its overheads cost is kept to a minimum and productivity is at its peak. Mostly because the owners are single-handily managing multiple aspects of the business to ensure the success of the business. As the business grows, the various aspects of the business are commonly handed to other staff thus the owners can continue to grow the core business of the company. In most cases, once the above is done, the productivity and effectiveness of a company will start to decrease comparing to cost incurred.
Sustaining Entrepreneurship is an ideal which is a relentless climb towards ‘Mount Everest’. To achieve the same level of productivity and effectiveness matching overheads cost to when the company was first started by it business owners.
Inevitably, once a company grows, a variety of functions will spawn to allow different people to handle the various aspects required in order for a smooth operation of business. This is a resultant of the common knowledge that ‘one man can only handle that much’. Though this statement can vary from person to person, but it is fact that there is a limit to one’s abilities. The idea that a business has multiple managers handling important functions of the business is a good and encouraging start. However, if that group starts drawing out rigid processes and methodologies that make the business run efficiently but without having innovation or creativity within the realm during real-world implementation, the effectiveness of the group would be affected. The fact is that this issue may not be easily visible to even managers themselves; as managers will always draw plans with their ‘staff and company’ in mind. Then, I beg the question, why are there businesses not able to stir up productivity and effectiveness? Is the group successful in sustaining entrepreneurship?
Removing Pre-conceived Notions
In this first part of this article, I will focus on the prep work required to get started. To begin with, it is to encourage managers and business leaders to dare themselves to think out of the box of the problems plaguing their organization. To take a bold move and dream about desired outcomes for yourself, your team and your business. More importantly, have other managers or leaders do the same exercise for their respective teams or roles.
It is without question that most managers would fall into the rabbit hole of thinking how ‘realistic’ their goals would be to current state of the company. The above exercise is to look beyond those facts and set goals or targets that idealistically presume all managers striving toward the company’s vision together.
Having the group of managers adopting that idealistic mindset above is an important first step. It would not be as easy as looks. In most cases, even before the vision can be set out, ‘restrictions’ in mindset would already start being a hindrance. Thus, care must be taken not to lose sight of the objective for this exercise – ‘dare to dream’.
Pre-conceived notions are always present in individuals; and each individual has a different view on any given idea. We shall not go into how this was to be in an individual; but focus primarily on knowing they exist, accepting that it is there and making a conscious effort to REMOVE these notions when making them.
When the mind sets out to think big, a lot of ‘weird’ ideas may pop up. They may sound absurd at first; but list them down anyway. Think of the very big goals that you are imagining you are reaching, different objectives that would get you there, and what you need to do to get there. From one or two major goals, various strategies or objectives should sprout and leading on to implementations. At this juncture, make the conscious effort to ignore the considerations or limitations that you currently face in your organization and imagine all in your group are working on the ideal situation where everyone is able to fulfill ‘your’ dream.
This exercise may sound easy at first; but truth be told, it is not if one gives thorough thought on the subject. To see through an idea or goal to its implementation methods in a planning realm requires a lot of thought; which will result in a lot of questions to oneself. Hence, the pre-conceived notions that are inherent will surface when faced with these questions through brainstorming. Therefore, being conscious of your thoughts and the ability to question and review your own mindset becomes very critical.
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