In a study completed by Target Training International, a supplier to Eure Consulting, Bill J. Bonnstetter, President and CEO, has found that while serial entrepreneurs have a specific set of skills that are more developed than in non-entrepreneurs, they also lack a specific set of skills that are more developed in the average working adult.
The study showed that while most serial entrepreneurs are well developed in the skills of Persuasion, Leadership, Personal Accountability, Goal Orientation and Interpersonal Skills, they are usually underdeveloped in the skills of Empathy, Self-management, Planning & Organization and Analytical Problem Solving.
Empathy is a skill that entrepreneurs tend to lack because they are more focused on the return on their investment. In general entrepreneurs build things and solve problems for people, but they are not doing just for the sake of helping others. They may run a business that helps others, but their sole focus is getting a return on the time and effort they put into that company.
Self-management is difficult for entrepreneurs because they are the big picture thinkers of the company and might see managing their small day-to-day tasks as taking away from their bigger, long-term goals for the company. They also usually have a lot of different projects going on at any one time and just don’t have time to manage every little detail.
Planning & Organization is a similar skill to Self-management and tends to be lacking for similar reasons. They are more focused on the big goals and new ideas and not so worried about the details or planning one specific meeting or event. It’s best for an entrepreneur to hire someone else who can be the detail person and help organize their calendar, plan events and keep them on schedule.
Analytical Problem Solving is the last skill that is lacking for most entrepreneurs, though it is generally more developed than the previous three skills. Most entrepreneurs are focused on future gains, monetary returns and new products or ideas, because of this they want to make quick decisions and keep things moving. They don’t want to take time to analyze every little detail about a decision, they just want to make it and move on.
Entrepreneurs are great business-minded, forward-thinking people, but no one is perfect and everyone has those certain things that they just can never seem to get a handle on. By realizing and addressing these commonly underdeveloped areas, entrepreneurs can better compensate for the skills they are lacking by surrounding themselves with those who excel in these areas. Entrepreneurs have the vision and the drive to take the company forward, but they need to employ others to create an executable strategy and make sure every little detail gets taken care of.
Not being able to successfully assemble a team that complements their strengths and weaknesses is just the first of many challenges of growth for entrepreneurs. Eure Consulting is here to help you overcome each and every one of these obstacles, starting with knowing yourself and those around you. How you assemble your team and how you lead that team will be the difference between overcoming or succumbing to this first challenge. To learn more about how we can help you move past your current obstacles or simply to discuss the challenges of being an entrepreneur, contact us at [email protected].