Entrepreneurs can be a great asset to a business, but you should know how to motivate them. These people, as a rule, think outside of the box and have a different set of standards and expectations than your average collar worker.
It’s nothing to be wondered at, really, seeing as startups have shaken traditional business practices, arguably for the better.
Entrepreneurs can drive progress in unexpected ways, but to be able to unleash their full potential, the right conditions should be provided.
Here are some of the chief reasons why businesses can benefit from hiring entrepreneurs.
1. They Know and Use All the Right Tech
Entrepreneurship is all about digitalization, seeing as these people will never stoop to doing things manually. Put an entrepreneur into an office and force boring paperwork on them and see how fast they’ll flee the scene!
Seriously, entrepreneurs provide such an invaluable asset to the team that you should ensure other employees are learning from them and also provide the means for them to hone their skills.
It goes without saying that some tools are a must in this hectic world, notably Gmail desktop apps. Wasting words on elaborating how important these tools are is simply pointless.
Another type of tools that are nowadays invaluable are the kanban boards tool. They provide inbox visualization and easy sharing, allowing seamless team task management.
2. They Never Stop Learning
The greatest virtue of entrepreneurs is that they never stop learning. Never ever, really! Whether it’s learning Standard Operating Procedures to the letter, or taking courses to improve their roles, they’re typically always ready to do so.
While we may argue that everyone should adhere to this principle, the reality is often diametrically different. Hire an entrepreneur or two to help teach the employees that learning can be fun and productive. If you manage to bring home that it is the natural state of affairs, even better!
Now, there are different approaches to learning and indeed businesses use various methodologies. What, with gamification, eLearning and mLearning, there really are no boundaries.
One good (if not the very best) method to ensure efficient learning is taking place is to stick to microlearning.
Running the risk of being labeled too strict, we simply have to point out that the digital revolution has made people less knowledgeable. With all kinds of information just a click away, the motivation to learn has simply evaporated into thin air.
Microlearning caters to pre-Google personalities who don’t know how to achieve information by any other means than by looking it up online. As such, it portends only relevant bits and pieces of information as opposed to general knowledge.
It is easily digestible and delivered just at the right moment, interactively.
Forget all about lengthy training sessions and voluminous manuals. With the help of microlearning, everyone can learn the exact information they need.
3. They Set More Targeted Goals
Setting goals is of paramount importance for any business, but not all goals are equal. Targeted goals are what make the world go round and ensure long-term success.
Now, there’s an efficient way to do this, and entrepreneurs know it. The so-called Objectives and Key Results (OKR) methodology is the right way to go about things. It portends setting targeted goals via defining and monitoring key results.
Here are some OKR examples to make things transparently clear.
4. They Have Unique Experience
Most entrepreneurs have done all sorts of different work and can apply their experience to their new roles. Because of that, they are used to dealing with risky work environments and are capable of brainstorming the best solutions in any kind of situation.
Well, many entrepreneurs have tried their hand at digital nomadism, which is not for the light-hearted. Merely being able to understand all about expat taxes and your own net worth is a top-level achievement, let alone dealing with any eventuality and a number of other financials.
Due to that, entrepreneurs can easily turn into intrapreneurs in a matter of days. Intrapreneurs deal with innovative ideas and can influence whole teams.
5. They Apply Lateral Thinking
Lateral thinking is a skill everyone should make an effort to master. The majority of entrepreneurs are well-versed in it and are, hence, an invaluable asset to the team.
Lateral thinking is a manner of solving problems by applying a not immediately obvious indirect and creative reasoning approach. It doesn’t follow the regular step-by-step logic. Individuality and creativity play a huge role in the process and we all know that creativity is a state of mind, rather than a simple skill anyone can learn.
Just one entrepreneur can make a huge impact on different teams, by providing insights and encouraging outside-of-the-box thinking.
6. They Understand the Big Picture
Entrepreneurs are well-versed in all aspects of a business. This includes, but is not limited to, managing budgets, rising capital, taking bold risks, creating benchmarks and marketing. They know how to make the right decisions where profit is concerned and know exactly how their decisions will affect the company.
Entrepreneurs are, shortly put, synonymous with risks. Because startups often face failures, these people are versed in turning any kind of situation around simply because not doing so is not an option. Bottom line, people who have learned from their mistakes are certain to keep improving themselves keeping their past experiences in mind.
Entrepreneurs are a great asset to any company. However, to utilize their full potential, you should be ready to make some compromises. More often than not, these people think differently than the employees who have never been forced to make instant decisions capable of making or breaking a business, or can even pivot to help make simpler decisions, such as selecting high-end table lamps or choosing a wedding videographer for a top client.
Entrepreneurs are best left to their own devices, with room for growth guaranteed.