How Employees Can Think More Like Entrepreneurs
At my company, we have our own version of Shark Tank. Somewhat like the television show, teams get together and come up with ways to improve the bottom line of our business through operations, sales, marketing or other areas. Then the best ideas are pitched to the "sharks"—the company's top executives. If the concept is well received, they fund development on the spot.
This program is successful because it creates a means for innovation and a spirit of entrepreneurship within the walls of a large Fortune 500 company. No matter the size of your organization, you can encourage an entrepreneurial mindset.
In this issue of Promotional Consultant Today, we share these tips from leadership expert and business author, Gene Hammett, to embrace an entrepreneurial mindset that drives real innovation and growth in your company.
1. Let go of blame. Employees that are quick to blame someone or something else will be slow to grow. On the other hand, employees who don't lead with excuses will consistently offer more value to the organization. The "no excuses" people are willing to accept that they don't know everything, and they take ownership of finding solutions.
2. Create value. Companies exist to create value to customers, the company and for their stockholders. Entrepreneurial-minded people know that it is not just about doing the work. They know they must raise value to a higher level with each project and customer interaction.
3. Take ownership. Employees who move beyond responsibility into an ownership mindset will find a way, even when the job gets tough. Leadership that inspires ownership is a key trait for companies that are growing quickly.
4. Sell yourself. Successful entrepreneurs know the need to sell their ideas and eventually their offers. Even inside the company, each person must know how to sell. We are always selling, even when we are not in business development. We must sell ideas to our team and leadership.
5. Be resilient. The journey of entrepreneurship is one of ups and downs. The entrepreneur mindset allows a resilient employee to get knocked down and get back up over and over.
6. Become accountable. Entrepreneurs, as a rule, are incredibly accountable. At the end of the day, if they don't deliver, then their company fails. From an employee perspective, be accountable.
Follow these entrepreneur tips to drive value and growth in your organization.
Source: Gene Hammett studies HyperGrowth companies to understand the challenges and opportunities of quick growth. He consults with companies to develop new strategies and leadership shifts, and speaks internationally about leadership that inspires ownership based on his HyperGrowth research. Hammett's podcast, Leaders in the Trenches, contains interviews of company leaders and experts about growth. He is also author of the bestseller The Trap of Success.