Monday, September 25, 2023

How companies can create a culture that encourages entrepreneurs

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Shreya Christina
Shreya has been with for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Craig Goodliffe, CEO and Founder of Cyber ​​backer.

Recent data shows that 40% of US workers have a incidental, according to a 2022 report from Zapier. If you just look at Gen Z, the number rises to 59%, and for millennials, that number rises even more to 61%. There also is a growing trend of startup founders who work for someone else. This shows me that there can be people working for you who are more than employees; they are also entrepreneurs. So the question is: how do you, as a manager, help those entrepreneurs?

If your goal is to lose your best employees – those with a strong work ethic, intense passion, creativity, versatility, flexibility and determination – then of course you don’t need to do anything to help them. Eventually, they will go their way without contributing nearly what they might have to your business. But if your goal is to have a better business and ultimately a better world to live in, create a culture that encourages entrepreneurs.

Before starting my business, I spent years as a real estate agent and worked for a company that strongly believes in empowering entrepreneurs. Like many others, the leaders of that company believed that entrepreneurs make great employees. The company’s dedication to entrepreneurs has enabled it to attract many talented people.

Working there taught me what it takes to run a business that really encourages the entrepreneurial spirit. Bringing that wisdom to my company has greatly enhanced success. Here are three steps you can take to create a culture that empowers the entrepreneurs in your own organization.

Make encouraging entrepreneurs part of your goal.

Most companies have a mission. It could just be to make money, or it could be something more meaningful. While the mission is important, the goal is much more important.

The goal is the guiding principle that a company looks at when making a decision. When an opportunity arises, it is tested against the purpose of the company. The goal is the yardstick you use to measure everything else you do, and the mission serves the purpose.

At the real estate company I worked for, the leadership team had an unwavering commitment to empowering the entrepreneur. Every decision they made was considered in light of how it would help the entrepreneur. Any proposal that did not serve the entrepreneur was discarded. That may seem extreme, but it has served the company well.

To build this kind of encouragement into the purpose of your own business, start by identifying a problem facing your organization. In business, it is usually recommended that you hire a third-party vendor to solve the problem for you. However, this can be a big challenge to present to a current team member who can help solve the problem and exercise their entrepreneurial perspective.

Provide training that serves entrepreneurs.

Companies that want to help entrepreneurs grow should prioritize coaching and training. In other words, once you hire people with an entrepreneurial spirit, give them the tools they need to thrive. You have to pour in. Teach them about all facets of building, maintaining and running a business.

To start as an entrepreneur, you have to wear a lot of hats. With the accounting, legal, marketing, finance and operations to manage while trying to start a business, entrepreneurs can quickly become overwhelmed. If you really want to empower entrepreneurs, provide training in business models and business systems.

Give them the insight they need to develop a model they can use to launch successfully and a model they can use to adapt as they grow. When it comes to systems, make sure the entrepreneurs in your organization know how to develop, implement and take advantage of the existing systems. Entrepreneurs typically have to wear a wide variety of hats, so understanding the power of systems will help them thrive.

Never stop supporting entrepreneurs.

In my experience as an entrepreneur in training and leader educating entrepreneurs, few things are as valuable to entrepreneurs as support. When you create a culture that encourages entrepreneurship, you also build a network of entrepreneurs. The bigger the network you can build, the better it will be, as entrepreneurs are always looking for support and encouragement.

As a leader, the support you give to that network can be critical even after one of your employees leaves to start their own business. Stay in touch with them, stay informed of their efforts, and provide support where and when possible.

When I showed up at that real estate company in my twenties after I dropped out of college, I got an entrepreneurship education that hasn’t stopped. I am also connected to a network that continues to support me. Today I run my own company that empowers employees to be successful in their careers. If I hadn’t found a culture that encouraged entrepreneurs, none of this would have been possible. Business Council is the leading growth and networking organization for entrepreneurs and leaders. Am I eligible?

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