Friday, July 1, 2011

Entrepreneur or CEO ... you decide.

Last month I received several comments on the entrepreneur blog. It is so difficult for others to understand that most entrepreneurs make bad CEO's. Every now and then I wonder as the company grows if I am the right person to take it to the next level and if I can be called an entrepreneur or a CEO in order to do this?

For example, our plans for the PPi Global Sales Machine Group are to be the leader in the supply of 50 high speed pouch machinery systems a year. For the ShotPaQ™ LLC products our plans are to be in 30 states and 10 countries with sales of 100,000 cases a year. That's the NEXT LEVEL of growth….

Now rising to the blog requests for more news on entrepreneurs and how to grow a new company to the next level, read on.

It appears that the best entrepreneurs are those that are able, through experience and training as well as some luck, to succeed in their endeavors. What is important to them is what stage of development the Company is at when the risk is taken.

The South African golf player, Gary Player once said "The harder you work, the luckier you get." Probably applies here.

It is often said that entrepreneurs always move quickly as they plan to produce profits from the ideas they implement. After efficient execution they begin again with new ideas and then back to the revised plan to grow even more. They make plans and they work them, but are not dedicated to them. Always moving forward could be the theme.

Most entrepreneurs work nights, weekends, sometimes way over 18 hour days and even if they are ill. Nothing stops the machine that is an entrepreneur looking for success. Good entrepreneurs attract and empower good people and develop support teams. These teams are motivated to understand the dream and learn quickly.

Some entrepreneurs are focused too heavily on ideas and don’t subject them to the marketplace, thus failure is common. If we look at some well know entrepreneurs out there, we find that they are considered true risk takers and their goal is not to run a business forever. Interesting they are not big personal spenders. In fact wealthy lifestyles are frowned upon. They are driven from the 'Success of the Risk' and the huge financial rewards from this action.

Again, if you look at the top 50 entrepreneurs we find some that are often too slow to react to fast-changing technological conditions and miss other opportunities. They depend on information and plenty of it. They enjoy the electronic world and make sure they have a 'geek' on board to keep them ahead and task-focused. They understand that great businesses are inspired by ideas, but their success is counted in cash. They are, in essence, "idealistic capitalists," believing that the best ideas, the best products, and the best services are also those that make the most money. It is here where the difference between Entrepreneur and the CEO starts to enter the picture.

First difference is the CEO has for sure the ability to see around corners and make sure the business is leading and not following.

The CEO has another quality that is important in his leadership; watching the business grow by leading the team rather than telling the team. The CEO is also very capable of solving problems and not leaving them for others to fix. The CEO always puts the Company first rather than the problem and this means he is often not seen to be solving the crisis.

Using the above points Entrepreneurs run successful businesses every day. However, businesses run by CEO types are normally financially sound and the CEO is capable of seeing trends or problems and solving them so that the Company can continue.

So what am I an Entrepreneur profit seeking type or a CEO who worries about the success of the Company?

Daily enthusiasm continues…