150 / LEADING THROUGH CHALLENGES
Learning from
entrepreneurs
Finding opportunities
What marks out entrepreneurs is
their preparedness to listen to their
customers, see new opportunities,
and back their ideas with drive and
determination. They also have a
refreshing attitude to “failure”—
everything is viewed as a useful
experience, and trial and error is
seen as a legitimate path to success.
Entrepreneurs think ahead, don’t
accept the status quo, and ask
questions that begin with “Why,”
“Why not,” and “What if.”
Entrepreneurs enjoy creating value by taking advantage of opportunities
and solving problems for customers. Leaders in organizations of all
sizes—and all ages—can learn from their bold approach, it is just a
question of looking in new ways at old problems and producing
innovative solutions.
Why?
Why Not?
What if...?
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LEARNING FROM ENTREPRENEURS / 151
Looking at your business with
an entrepreneurial mindset
will help you generate ideas for
maximizing opportunities for
growth that no one else has
seen—either within or outside
the organization.
How can we help you? Celebrate
both successes and failures as
signs of entrepreneurship, and be
sure to reward the contributions
people make to creating value for the
business, and responding flexibly to
opportunities to solve problems for
customers. Scrutinize your business
for new opportunities. Think hard,
and above all, think creatively.
Develop your own
entrepreneurial
leadership skills by
asking more questions
of your customers and
colleagues—what issues
cause you regular hassles?
Large corporations are increasingly
encouraging their leaders to show
entrepreneurial zeal within the
mature organization—a phenomenon
called intrapreneurship.
of leaders in top US firms
are serial entrepreneurs
72%
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152 / LEADING THROUGH CHALLENGES
UNDERUTILIZED
INFORMATION OR ASSETS
Can we sell our information
externally?
Can we get better performance
by outsourcing?
Can we lease our assets?
WAYS TO CHANGE THE
BUSINESS MODEL
Will acquisitions boost
our capabilities?
Can we cut out the
middleman?
Should we support
employee spin-offs?
Where to look for entrepreneurial ideas
Developing entrepreneurial
skills
Entrepreneurs exhibit many important
traits and crucial skills that you can
examine and develop in yourself to
benefit your own organization. Most
entrepreneurs are risk-takers, goal-
focused, and determined; these are all
traits you can learn. When looking for
new ideas, examine your own
organization first: can you exploit
existing assets? In a fast changing
world, is your organizations able to
adapt quickly? As you search outside
your company for emerging trends
and products, remember to apply
SWOT criteria to test and assess
your decisions.
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LEARNING FROM ENTREPRENEURS / 153
HARNESS TALENT
You may already have natural
entrepreneurs in your team.
Give them the space to
innovate and put up with their
often challenging nature and
you will gain a real asset.
Tip
NEW MARKETS,
NEW CUSTOMERS
Can we change our
pricing structures?
Can we do what we do for our
best customers for others?
How do we extend
our markets?
NEW PRODUCTS
AND SERVICES
Can we sell our products or
services as a system?
Can we turn internal services
into sales?
Can we meet unmet needs?
of top entrepreneurs in a
survey identified themselves
as risk takers
80%
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