An entrepreneurial mind — even for non-entrepreneurs — has become one of the most coveted qualities in the business world. Even those of us who never intend to strike out on our own with a company, product, or idea, are all encouraged to have the same mindset. But what exactly does that mean? Why is it so important not only for professional success but in leadership?
For me, entrepreneurship runs in the family. My dad started our family business — REI Nation — some fifteen years ago. Growing together and pushing the boundaries of what is possible in turnkey real estate investment is a thrilling adventure. Now, I’ve begun my own entrepreneurial endeavors. I write and speak, among other things.
I say all that to say I am very much aware of the struggles, challenges, and demands of entrepreneurial endeavors.
With that said, let’s get down to business.
What is Entrepreneurial Leadership?
Chris Roebuck defines entrepreneurial leadership as “organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimizing risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within a dynamic environment for the benefit of [an] organization."
Let’s break that down. Essentially, entrepreneurial leadership employs tactics and the mindset of entrepreneurs and applies them to a wider company, organization, or group. They lead with the idea that their employees and peers should self-correct, self-generate, and reflect. They value agility, problem-solving, and risk management.
Rather than being a reactive leader, they are proactive. They have momentum and purpose. These leaders don’t just hand down tasks and keep everyone in check — they actively encourage others to strive for more and to achieve common goals. They are the “go-getters” of leadership.
Why Does Entrepreneurial Leadership Matter?
Entrepreneurial leaders value qualities that are essential for not only survival but success in today’s business world. Even non-trepreneurs are pressured to display these qualities. Creativity in problem-solving and risk management is advantageous in any career. Tackling risks head-on, communicating a vision, and having that forward momentum...it all sets us up for success, regardless of position.
Ultimately, the mindset and behaviors behind an entrepreneurial mind drive us all forward.
What Makes an Entrepreneurial Leader
1) They’re proactive.
Proactivity takes many forms. For the leader, this proactivity is shown in how well we anticipate and tackle problems, how social and engaged we are with those around us, and look for new ways to optimize performance from daily tasks to company hierarchy and structure.
2) They’re great communicators.
There may not be a quality more important than communication. For the leader, communication is about more than conveying tasks and goals. It goes further than that in that communication is unifying and encouraging. The entrepreneurial leader values clarity and concision, along with creating an environment where growth and exploration are encouraged.
3) They look towards the future.
It’s easy to characterize entrepreneurs as dreamers. While this is true in some sense, entrepreneurs have the ability to not just envision the future, but to pursue it. This future-mindedness is less about imagining a best-case future and more about realizing what is possible.
They’re always anticipating the next move, never content to rest on their laurels. Entrepreneurs aren’t willing to settle for okay. Instead, they’re always pushing themselves — and others — to the next level.
4) They embrace risk.
Risk is an inherent part of life. That said, different people have different reactions to risk. It’s thought that entrepreneurs enjoy and thrive on risk, but this isn’t really true. It’s more that entrepreneurs are willing to take on risk to achieve their desired outcomes. This means leaving room for creativity and experimentation as well as taking on opportunities that others might see as being too risky.
Entrepreneurs are able to bear the risk because they know how to manage it well.
5) They know how to sell ideas.
Tying into communication, an entrepreneurial leader is a great salesman. This doesn’t mean they’re always pitching products. No, they’re more concerned with selling others on a vision. They get others on board with them, inspiring dedication, loyalty, and a sense of purpose beyond the job for its own sake. Entrepreneurs are all about that inspiration — the sort of direction and attitude that pushes us all to realize our potential.
How have entrepreneurial qualities been advantageous in your career? Share your experience in the comments.