Effective Planning Solutions

Confidence, together with vision, individuality, perseverance and passion are the defining qualities of an entrepreneur, the stars, but what about the team?

The challenge of managing stars and leading entrepreneurs in companies is similar in many ways to the challenge of coaching in team sports. Both leader and coach need to encourage peak performance through an attitude of success, inspired by vision and maintained through perseverance. Combined with smart risk-taking - they need to inspire stars to “go for it” and forge a strong bond between the star and the team.

How do we define entrepreneurship?

The answers to this question from numerous sources are amazingly consistent and straightforward - “entrepreneurs build businesses.”

Entrepreneur qualities
The most important qualities of an entrepreneur are:

• clarity of vision
• confidence
• connection with the team
• passion

Star athletes and entrepreneurs have clarity of vision and purpose. They are capable of seeing the future, seeing the goal line. They imagine, quite vividly the possibilities, and cut through complexity. They see adversity as a challenge and problems as opportunities. That doesn’t mean it’s easy, not by a long shot. But, their clarity of vision and intensity of focus means very little of their effort is wasted and makes it look almost “easy” to someone sitting on the sideline.

Entrepreneurs see the world differently. They see possibilities … they see what can be, they see the goal line and push across it.

Another attribute of star athletes and entrepreneurs is that they share confidence, optimism, and perseverance to keep working toward defined goals, no matter what the odds. A very distinct and defining characteristic of entrepreneurs is that entrepreneurs try to do hard things. They have setbacks and failures along the way, but they’re confident and optimistic that they WILL succeed, even when surrounded by those who don’t believe - which is often the case in large institutions. They refuse to be susceptible to the negative influences of other people. This can be construed as a kind of optimistic risk-taking, as people will generally oppose those who do not conform. Particularly in large organisations where the expectations come from shareholders, analysts, and employees, where there’s a lot people who really, when tested don’t give a dam if the game is won or lost.

The third attribute shared by entrepreneurs and sports stars is that they are very good at seeing, and making, “connections.” Entrepreneurs connect a product idea with a value proposition that fills a market need. It’s this connection to the real world, not a pie in the sky idea that turns concepts into powerful new businesses
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Entrepreneurs and athletes intuitively believe that they can do anything they set their mind to - but they can’t do it alone. They need the rest of the team, a coach, and a solid plan to be their best.

Raw talent is never enough. Even in individual sports and small start-up companies, the standout winners are connected to a lifeline, a solid support system. Despite the fact that entrepreneurship is often identified as an individual trait, the most successful individuals understand the critical importance of teams.
The last, and perhaps the most important quality for success - whether on the playing field or in the marketplace - is passion. That’s why conventional wisdom is challenged as, “Entrepreneurship is not about the product … it’s about the passion.

A great idea, product, concept, or talent is necessary for winning but not sufficient. Stars need passion, no matter what arena they perform in.

The great dancer and choreographer, Martha Graham said, “Great dancers are not great because of their technique. They are great because of their passion.”
Passion is the fire that makes stars and entrepreneurs push harder and farther despite the odds. And, passion is contagious - it inspires others.

The choices are; you can have a job or you can have a mission. If you are going to join a company that’s on a mission, you really need to be passionate about it, otherwise, it’s just too much work and it won’t be fun. So, passion is probably the single most important criteria to look for when inviting people into your team.

Fostering entrepreneurs

Leaders of companies - and coaches of teams - can do several things to create the right climate for these success factors and to make organisations places where stars want to be because they believe it will make the most of their talent and effort. We need to reward stars commensurate with their achievement and talent.

But we need to hold them accountable to play by the same rules as everyone else in the organisation. This means differential rewards but consistent standards of behaviour and accountability. If you don’t reward stars, if we don’t offer sufficient opportunities for personal development, recognise and acknowledge their extra effort and achievement, they will go work for someone else who will.

Even if they stay for a while, they won’t be inspired or have the incentive to do their best if they’re not appropriately rewarded. No matter how creative and productive stars are, they should not be permitted to flaunt the rules and values of the organisation. Nothing will ruin team morale faster than if other employees or players see certain people given complete freedom to skip practice, abuse co-workers, and behave counter to the organisation’s stated values.

In addition to rewarding stars, leaders can foster a winning environment by running a good “front office.” A good front office supports stars and provides them with a solid infrastructure, so they can focus on what they do best.

There’s still another thing we can do - we can create a culture of belonging that binds stars to the organisation. Stars and entrepreneurs are rugged, talented individuals but they are still social creatures. And they will be happier and more successful when they feel a strong psychic connection to their company or team. A strong team culture can be an important part of the overall reward package and serve as a kind of “golden handcuffs” binding stars to the team. Without a strong team or corporate culture, stars will think like free-agents and will be ready to jump ship at the first offer.

A passion for results - but not at the expense of performance

Leaders must be aware of the distinction between performance and results. Performance generates results but consists of many components including actions, behaviours, skill, attitude, values, beliefs and vision. We want people to be passionate about results but not at the expense of other people within the team.

There are many situations where appropriate performance breeches occur. Too many to mention here, however an example might be dodging responsibilities or voicing derogative comments about other team members. Both are examples of what can deflate team morale and adversely impact on productivity. Situations where leadership was needed but unfortunately neglected. Examples of why teams need to establish a “Code of Conduct” through a process of collaboration and consensus, where all players, share equally the responsibility to ensure the code is adhered to and maintained.
For more information contact :- info@epsolutions.com.au

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