Ask entrepreneurs about the reasons they started their businesses, and more than likely it is about possibilities. Doing what excites them personally, making customers and building business relationships puts their imagination into action.
Business leaders need to understand the reasons why prospective customers will buy goods and services from them – and how their business is differentiated from the competition.
Business plans and strategy are fundamental, but specific cultural elements drive each enterprise to failure or success. In the final analysis, the daily actions of employees carrying out the vision of the company will tally the score. [LINK]
Entrepreneurs assume most of the risk to start a business, which makes their personal views of the possible future so critical. Just like eyesight clarifies the pitfalls of the road, leaders of businesses need foresight and information to develop the “human element” to make their businesses thrive.
At all times human beings are both rational and emotional. Business plans must make intellectual sense to employees, but the personal reasons for each employee to achieve the plans will make the difference for company success.
Children are notorious for asking “why” so they can develop a personal sense of the world. Employees of companies are the same. If they cannot “buy into” and act out the business plan – the business will stall. Disengaged employees do not serve customers well.
Entrepreneurs must avoid the pitfalls of over confidence, and being too self-reliant on their own ideas. It is difficult for any leader alone to do sufficient self-analysis and introspection to identify personal, business, and employee strengths and limitations. It is one thing to set the vision for the company, it is another thing to inspire employees to carry it out.
Objective outsiders can bring learning, facilitation and coaching to challenge assumptions, unchecked egos and limited thinking. Professional perspective can help everyone understand the business past, clarify the present, and plan for tomorrow.
Remember, there is always a GAP … the difference between the present and what the future could be.