It is humbling to know that there are a lot of things that could change my life and business positively that I do not have an idea about. Seriously everyone that wants to be an entrepreneur should take this course – it is FREE – I do not take the last part likely. At the study group yesterday in my office, we learnt so much concerning the growth and transitions of start-ups through Professor Edward Hess of Darden Business School, University of Virginia – a man of 30 years experience in business consulting, research and experience.
In order to grow your business, you have to grow yourself. I do not know if this sounds like a cliché to you but it had a profound effect on me hearing it from Prof. Hess. If you are not willing and able to grow, your business will not grow. A more important question one should ask oneself is if one really wants the business to grow because after the course, I truly questioned myself.
Since the central theme of the course is human resource. When growth comes, you will need people to manage your customers. It is only when employees are happy that customers become happy and loyal. If customers are happy, you will make more money. How do you make employees happy? Not money compensation! It is about YOU treating them well by giving employees meaning to their work. This last part requires a different set of skill.
There are 6 general transitions for growth to occur divided into 3 categories:
Leadership Category (3 transitions)
- You are first a Doer
- You then become a Manager
- You then become a Leader managing like 7 to 8 Managers
- Then finally you become Coach/Mentor managing the Leaders
Technical Competencies Category (2 transitions)
- You are first the Functional Specialist doing a specific function defining your business
- You then become a Generalist doing everything for the business to survive like Sales, Marketing, Accounting, Customer Care, etc
- You then become the Conductor making sure all the functions are in harmony towards the business goal
Self Interest Category (1 transition)
- You are first ME – your ideas, your business, your way, your products
- You will then transition to THEM – (employees and customers needs)
Professor Hess then analyzed the Leadership category telling us what it would take to transition. For example to transition from a DOER to a Manager, you need to learn the skill of Delegation. Delegation is regarded as the most difficult management skill to acquire and he regards it as baptism of fire, He rounded off with the Barbara Lynch story pointing key challenges and concepts. It was truly a swell time!
Unfortunately, our Physical Study Group is filled but we can create a forum in the class where we can discuss ideas and key concepts. If you are interested in joining our forum online, kindly use the Contact Dipo link HERE to fill the form and we will get back to you ASAP. But before joining the study forum, you can join the class by using the Grow to Greatness link HERE.
Have a lovely week!
