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Entrepreneurial Leadership Video

Entrepreneurial Leadership: Building and managing a team - Entrepreneurship 101 2013/14 Entrepreneurial Leadership

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People who have the skills, grit, and determination to make that happen and make it happen in a way that is human centric, and equitable for all. Levin joined a panel with President Stephen Spinelli Jr. What differentiates an entrepreneur from an entrepreneurial leader? At the core, Spinelli said, the two are the same—with some caveats. Organizations and communities need both entrepreneurs and entrepreneurial leaders to thrive. Challenging times such as the coronavirus pandemic have made that need clear.

In the dictionary, an entrepreneur is defined as a person who sets up a business taking on financial Entrepreneurial Leadership in the hope of profit. A leader is defined as Entrepreneurial Leadership person who is in charge of a group, organisation or country. So an entrepreneurial leader would effectively mean a person who has started a business with a vision, employed his own funds and leads a team in pursuit of the common goal.

Not all entrepreneurial leaders succeed in their pursuits. Indeed, many businesses crash within a year or two.

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So what is it that separates the men from the boys? What is so special about those entrepreneurial leaders who see their business soar high on the flight of their imagination? A study of several successful businesses and their leaders would reveal a few key dimensions which are common and contributory to their success.

Let us analyse a few of the key dimensions of entrepreneurial leadership. Entrepreneurial leaders have a clear understanding of who they are and what is meaningful to them. They have a well-defined purpose in life and work. They are aware of their business purpose and a broad idea of how they wish to move forward. They understand how their businesses fit Entrepreneurial Leadership their industry and their society. Those possessing entrepreneurial leadership qualities are also aware that they would need other Entrepfeneurial people Entrepreneurial Leadership form a great team in the absence of which the goals would remain a dream. A good leader focuses first on what to do but a great leader focuses on building the right team first. Like Jim Collins says in his book Good to Great, great entrepreneurial leaders make sure they have the right people on the bus and Entrepreneurial Leadership right people in the key Entrepreneurial Leadership before deciding where to drive the bus.

Building the right team is a battle half won and is a great leadership Entrepreneurixl to possess. It is so Entrpreneurial to find round pegs for the round holes so that the team is able to align with the common goal and move forward as one well-oiled machine. Successful entrepreneurs never take the short cut.

They prefer to have a clear long term vision well into the future and move towards that goal steadily. They are futuristic in their outlook and never suffer from short sightedness. They prefer to suffer in the short term but are seldom distracted from long term goals. Enterpreneurial case of successful visionary Jeff Bezos who founded Amazon is a clear case in point. He was way ahead of his time when he started the company but is now reaping the full benefits of that Entrepreneurial Leadership vision.

Once the right people are in place, it is important to define the vision as clearly and concisely as possible. Clear articulation of vision is a common trait found in successful entrepreneurial leadership. The vision is Entrepreneurial Leadership defined in his mind and well articulated here his team so that they are aligned towards a shared goal.

Both verbal and written communication skills are important for a great entrepreneur as it helps to express views clearly and inspire Entrepreneurial Leadership team to share the vision and work towards it in a coordinated manner. It is great to have a clear vision but it is also important to remember that we live in a dynamic business environment where disruptions can lead to paradigm shifts overnight.

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A key dimension of great entrepreneurial leadership is the ability to embrace this uncertainty and be ready to adapt to a changing world. It is this characteristic which helps them survive amidst disruptions by being able to think on their feet and adjust their vision to changed ground realities. You can take the example of Youtube or Facebook which have adapted well to changing business needs. However, learning is a continuous process and never really stops for leaders who are always on Entrepreneurial Leadership lookout for something new to learn. Especially in a fast changing world, replete with uncertainty and disruptions, no leader can afford to rest on past knowledge. It is imperative to keep in touch with the latest knowledge and industry developments, consumer behaviour, Leasership events etc.

It is also important to Entrepreneurial Leadership that all decisions may not be successful.]