Business principle for entrepreneurs

Business Principle for Serious Entrepreneurs

A group of young entrepreneurs seeking for venture capital was asked, “How many times are you comfortable to delegate business authority in your organization and how long do you foresee yourselves leading it?” Statistics from their response show over 94% of them are more ready to lead than ready to delegate business authority in most situations.

This is likely the case with most start-ups and entrepreneurs. While such an overwhelming decision is understandable due trust, it is also an inevitable fact; that those who want to hold on to business authority and unwilling to delegate it even in critical situations, will not see themselves leading for long even though they desire and have the zeal and ability to perform. A way out of this menace is to understand certain basic human and business principles worthy of testing.

TRUST BY CHOOSING THE RIGHT PEOPLE

Business people you trust
Business people you trust

First and foremost trust is very important. It is however a double–edged sword. It can make a better business when it is in its peak or break a business when it is in its low-end. The question now is when, how and who do you trust.

Trust should be an ongoing activity which must be assessed always but getting the right people around you right from the unset is critical.

Right people are those who show genuine readiness for the job even with minimum skills. Have like-mindedness as far as business vision is concerned,. Share company passion and goals.  Ready to learn business model and teach business model. Ready to lead in duty when necessary and ready to go a mile in service when genuine and attainable reward is established.

READINESS FOR BUSINESS RESPONSIBILITIES

G.M Trevelyan a renowned British historian of the eightieth century once said, “Action springs not from thought, but from a readiness for responsibility.”

“Action springs not from thought, but from a readiness for responsibility.”

You should not be afraid to delegate business authority and responsibility to a worker who has shown over and over again he is absolutely ready for a job though he may have minimum skills. Such a person is full of energy needed for entrepreneurship.

It is your job to begin a relationship of trust by assigning obtainable tasks and doing check backs so as to increase your confidence to delegate business authority in further.

A business gesture of this kind provides your worker with surging confidence to turn his springs of actions into productivity while asserting your position with a lead role that need not be overemphasized.

THE INCOMING BUSINESS VISIONARY

People with like-mindedness as far as business or your business vision is concerned are your much needed brains for innovation. They are visionaries just like you.

The unity of thought and sometimes competitive skills and edgy strides between you and this group will help generate quickly, the much needed skills and attention to details that your business needs at all fronts by turning technology and resources into massive innovations and profits

A s a business owner, you should however learn to work diligently with them. They are your resource and not a liability. You should be ready to delegate business authority for them to be able to perform well.

I once interviewed a business owner who complained his new hire was a little too edgy but also recognized that he challenges him to do much more on his projects. Though this difference was evident, he reiterated he was a much needed personnel on the job.

This is a leader who recognizes talent and was ready subdue his ego for the general benefit of his business. Most often than not, this group by their caliber, may stay with your business temporarily and you should be able to accommodate them and learn from them as you lead them.

Delegate business authority to them during their time with you and support then even when they are ready to leave. You could still forge great business partnerships with them in further undertakings. Remember that you do not know it all. Those who show genuine desire for progress must be encouraged as you purposefully recognize them and share business power with them.

CONTINUITY GROUP

The third group of workers is was I term the Continuity Group. They are the ones who shares your passion and will drive your business goals to a successful conclusion. Enrolling such apprentices will ensure that further workers magnifies, adores and establishes your business model.

As you share business power with them and delegate business authority and reward them accordingly, you encourage them to take leadership roles in service to the unfailing advantage and prosperity of your enterprise.

BUSINESS TALENT AND HARMONY

It is however, important to say; that you should not expect to see one person showing all these qualities before attempting to trust and delegate business authority.

Your ability lead, recognize talent and use it productively, will be beneficial and will go a long way in building a thriving enterprise. Your willingness to delegate business authority will become the most important stepping stone in your business life and also a panacea to business harmony and success.

Enoch Antwi is the managing editor of CEIimages Magazine. He is an accomplished writer, a marketer, a journalist and a thinker. He is a resourceful team player marketing business and entrepreneurship ideas that propel market penetration and advances Return on Investments (ROI'S) for businesses. His passion is to provide on-demand valuable information and insights on business, entrepreneurship, leadership, innovative technologies and principles for corporate success in today's business world. View all posts by

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