Why are entrepreneurs not always the best managers for their businesses?
Have you had a business idea brewing and feel it’s time to take action? Then you are in the right place. Becoming an entrepreneur is a bold step, though challenging has beautiful rewards. As an entrepreneur you get to do what you love and enjoy, manage and plan your time and most importantly you have the opportunity to make a difference in the world in your own simple but positive way.
The though and mention of entrepreneurship is great, but among the hurdles and challenges you will experience along the way is expanding your business. You wonder how? The answer is simple, entrepreneurs are not always the best manager for their businesses.
Maybe you are doubtful, being the brains behind the business you believe you understand what direction the business should take and disagree with. But unfortunately, the statement is true, read on to find out why entrepreneurs are not always the best manager for their businesses.
But to better understand how entrepreneurship and managerial positions work, here is a detailed review of some of the qualities a good manager or business person needs to stand out.
Types of Entrepreneurs
Did you know there are different types of entrepreneurs and this highly influences whether an entrepreneur will be a go manager or not?
The first category of entrepreneurs is serial entrepreneurs. The serial entrepreneurs mostly focus on creating solutions to things they are passionate about. However, on providing a solution these entrepreneurs seek to identify a problem and provide solutions. These entrepreneurs do not make good managers for their business.
However the second category, the vocational entrepreneurs are able to strike a balance between creativity and management. Vocational entrepreneurs have the passion, knowledge and in most case launch their businesses on identifying a market niche.
Vocational entrepreneurs may enroll in management classes to help them run their businesses better. However, this does not mean all vocational entrepreneurs make good managers for their businesses. Though they understand and have a clear vision and goal for their venture.
Juggling between management, hiring, and firing, finances, bookkeeping to mention a few and this may cause a strain on a person.
Qualities of a Good Manager
In conjunction with the human resource department, the manager is also tasked with interviewing, hiring and training new employers. The manager also acts as the bridge between the employee and the bosses by delivering and delegating tasks to employees and presenting reports to the boss.
Additionally, a manager is tasked with setting long and short term goals to ensure the growth of a company. Managers also motivate employers by creating retreats, training session and including rewards for the top performers in a company.
Company managers also evaluate a company’s progress by studying data, employee’s input in a company. The manager plays a huge part in ensuring the growth of a company making him/her essential in the rise of a business.
To be a good manager below are key skills.
Great organizational skills, to be a good manager you need to have and develop great organizational skills. Form the tasks above, most of the manager’s work is organizing events, presenting data, and planning meetings to oversee the growth of a company.
Strong communication skills, as a manager one of your duties will deliver information to both employees and employers. You need to effectively and clearly communicate to avoid errors in business. Additionally, strong communication skills is a key requirement in training and delegating day to day duties.
Reliability, for the smooth running of an organization or business the manager need to be available to offer support to the team.
Ability to delegate duties, you need to identify skills and strengths among your employees to correctly assign the correct duties. For instance one of the employees might be shy in public areas as they build their confidence, identify a better communicator to deliver reports, this will not only help in the growth of a company but helps in developing the employer’s skills.
Assertive, as a manager you need to strike a balance and be assertive in your decisions. Not showing confidence in your abilities may affect how employers treat you which may, in turn, affect the productivity in a company.
Leadership skills, as a manager you need to lead and understand your employers in order to offer the best direction. Learn different leadership skills and apply one that works best for you and the organization.
Time-management, remember as a manager you are a leader figure and the employers look up to you for direction. You need to lead by example and one of the simple ways is behind a great timekeeper. For instance, if you are supposed to report to work by 9am. Report on time, this not only helps you set a great example but shows your commitment to the work.
Additionally, time plays a key role in influencing the growth of a company, remember, time is the most expensive commodity. Presenting your reports on time and setting realistic work deadlines portrays your time-management skills.
Qualities of a Good Entrepreneur
There are many entrepreneurial ventures and there is no specific set of duties for a business person. However, it is the responsibility of the entrepreneur to direct the mission and vision of an organization to ensure you are a good entrepreneur some important qualities and skills include.
Creative, to be a great entrepreneur one needs to be innovative and creative. Learn to think beyond by brining better solutions to things affecting the world. Creativity does not ways on the establishment of a business, for business to remain relevant and grow, one needs to constantly provide solutions and ideas.
Passion, when it comes to entrepreneurship one essential skill you need to master is passion and self-drive. Unlike a 9 am to 4 pm set up, an entrepreneurial venture requires more than 7 or 8 working hours. You will need to sacrifice your time, spend your saving and along the way you might even lose some friends.
For the business to stand out, you need to be invested in the idea. For instance, if you are running a handbag business, then take your time to find the best material. Even after the growth of the business, you could take time to help in packing to ensure clients receive the very best.
A strong work ethic, a strong work ethic go hand in hand with passion. Although entrepreneurship gives you the freedom to pan you working ours or even plan for vacation when most people are working. You need a strong work ethic to make it, for the first few years, you may feel as if you are giving with no return but your big break is around the corner, follow and obey your schedule for maximum productivity.
Interpersonal skills, besides being passionate and creative, you will interact with suppliers and potential clients. You need to attract a new audience by having great interpersonal skills. Additionally, as the business grows, you will delegate and employ people. Having interpersonal skills helps to create a conducive and free working environment while appealing to your clients.
Why are Entrepreneurs not always the Best Managers for their Businesses?
Both managers and entrepreneurs are an important part of the business puzzle, and for a business to stand out one cannot make it without the other. Managers and entrepreneurs both have different work duties and require different functions.
Find out why entrepreneurs are not always the best managers for their businesses.
May limit their creativity, for a business to thrive the entrepreneurs need to constantly come up with new and fresh ideas. Working as a manager and in the creative team may limit your creativity because of overwhelming responsibilities.
May lack important managerial skills, though not all, some entrepreneurs lack important managerial skills. For instance, for you to be a good manager you need to be a good time manager. Some entrepreneurs lack this and this may affect other facets of the business such as attending important meetings or planning for meetings with investors.
May lead to the slow growth of a company, running a business and serving as the manager, the accountant, the receptionist may derail you from achieving your goal in the set time. A manager’s main task is to ensure the growth of a company by delegating, rewarding and even training employees, making entrepreneurs not the best managers for their businesses.
Your Take Away
Running your business might be your ticket to freedom from the long hours stuck in the traffic in the mornings, it might be that break you need to plan a trip and still make extra coins during the trips. However for h venture to be a success it is essential to identify your strengths and weaknesses. Delegating duties will help you expand your business and also releases the pressure and also helps in developing people’s skills by allowing.
Being an entrepreneur and a good leader does not make you a great manager. So if you are a business person or timing of joining the filed, plan for a manager in your finances. But most importantly stay relevant as an entrepreneur by producing fresh ideas.
Why are Entrepreneurs Not Always the Best Managers
Unleash your potential as an entrepreneur, ask for help, learn new skills, take one step at a time and enjoy that entrepreneurial journey.