How to Make Your Team Think Like Entrepreneurs - Act Like Their Own Startup CEO Becoming a successful entrepreneur doesn’t just happen overnight. It takes a lot of hard work and determination. If you ever observe entrepreneurs, you’ll notice that they all exhibit similar characteristics, which have been key contributing factors to their success. Overall, they are determined, have a high level of confidence, crave learning and are very passionate about what they do. If you’re reading this article, this is probably you. We can all learn a lot from entrepreneurs, including your employees. What Are The Benefits? Getting employees to think like entrepreneurs can be a little tough. After all, if they were entrepreneurs, they’d probably be working for themselves. But the truth is, not everyone wants to own and operate their own business, and that’s okay. The entrepreneurs of yesteryear are a lot different than those of today. It’s not all about starting a business, but rather being exceptional at seeing things differently. What are the benefits of getting your employees to see, think and behave differently? • Better Organized: Employees usually do first without planning, while entrepreneurs are just the opposite. When employees can plan out their tasks, it allows them to be better organized and executive their tasks more effectively. • Better Engagement: Entrepreneurs are extremely passionate about what they do. They’re excited to get to work and see opportunity everywhere. Employees who are passionate about their work are better engaged, excellent team players and willing to go the extra mile because they want to see the your company succeed as much as you do. • Self-Motivated: As a business owner, you want your company to be able to run like a well-oiled machine, even if you’re not there. This is why it’s beneficial to have employees who think like entrepreneurs. Employees who have this mindset take initiative on their own. They don’t need their hands held. They take action and are productive. How To Inspire Leadership Entrepreneurs naturally have a leadership quality. Sometimes as an employee, that can be intimidating. You must create an environment that is supportive for others to step up and take the lead. So how do you strike a balance between encouraging employees to take ownership and pride in what they do, whilst still understanding that they are a part of a team?
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Cultivate an Idea Culture: Allow your employees to be creative and come up with new ideas. For employees to feel they are a valuable part of the company, they must feel as though they have a space for creativity. Let your employees know regularly how much you value their time, creativity and input. Create a weekly think tank, where team members get together to provide suggestions on how to improve certain elements of the company. You could even make it an expectation that employees contribute an idea or two a week, which could help improve certain aspects of the company. Share Your Failures: One of the most successful entrepreneurs in the world, Richard Branson said it best. “Few first ventures work out. It is how a beginning entrepreneur deals with failure that sets that person apart.” All great entrepreneurs are never afraid to fail. They know with reward comes a certain amount of risk. Oftentimes, people are afraid to step up because they are scared of failing. Make it a point to share with your employees your experiences as an entrepreneur. Share with them your failures and how you overcame them. Of course, share the successes too. But it’s much more endearing when you are honest with your employees about the failures you have experienced as you’ve built your business.
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Reward, Reward, Reward: If you’re going to encourage your employees to think like entrepreneurs, provide some incentives for them. Studies show, most people are willing to work a little harder for something if they believe there is some benefit in it for them. What incentives can you offer your employees that will help inspire them to take on leadership roles and spark engagement? You can reward them with financial gifts, vacation time, a share in profits, or a promotion. Get creative!
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Invest In Their Education: Entrepreneurs are always striving to better themselves. Personal self-development and educational tools are key factors to their success. Entrepreneurs often learn best by doing. Nano-degrees are excellent ways your employees can learn by doing. Nano-degrees are all project based. By the time your employees have finished them, they will have added a significant skillset to their jobs, and they’ll be able to execute this skill with confidence.
Getting your employees to think and behave differently will ultimately improve the quality of work, while generating better productivity for your company. Of course, you must also be the prime example. As the owner of the company, your team will follow your lead. If you show enthusiasm and excitement for their leadership potential, they will most likely be excited as well. Lastly, make it fun! You want this to be an enjoyable experience for everyone involved.