You know what the market wants from you as an entrepreneur, but do you know who you are and what you want?
The Business Development Program of Venture Lab targets technology based companies ranging from a start up phase up to business growth acceleration. This stresses the fact that business development is a process of ‘life-long learning. A matter of ongoing business improvement rather than a once-only action concerning organizational change.
Life long learning
In that, life long learning as a company, in terms of organizational development, is as important as personal and team development of personnel. To stand out, an entrepreneur needs to know his strengths and weaknesses, now even more than in times of economic growth. Not only in terms of professional competencies but also in the personal qualities and skills which make him differ from his competitors. Yet what we often see when companies prosper and grow is a focus on the development of the business in terms of total quality management, reengineering, marketing development and research on business & product improvement as such. In other words, the business development plan of many entrepreneurs is geared to the market, the improvement of the product or service, and the growth of quick returns. But what happens after the marketing and sales? Where is the link with the distinguishable core qualities of the entrepreneur himself that can bring him and his business to a win-win situation?
Quick growth or sustainable success?
Fast growth in terms of sales does not necessarily lead to sustainable businesses or successful implementation of business concepts in the long run. For this to happen, internalizing your business strategy as an organization, along with an adjustment to the market, is required. This requires a good communication plan; internally and externally. Therefore all stakeholders need to be included. Not only in terms of informing them but also in terms of their active participation concerning the implementation of the plan and the adaptation to stakeholders’ needs and expectations. Once you know all expectations, it usually becomes very clear that different people involved looking from different perspectives to the same thing. Speak their language, Kahler (process communication model) would say! Know who you are, what you want next to what people want from you as an entrepreneur. Only then will you be able to adjust your new business concept or renewed strategy to the market, at the right time, at the right places.
What does this all mean for an entrepreneur? Make clear, how you are perceived by others. Does this match with the view you have about yourself? If not, train yourself, in cooperation with a coach, to look from different perspectives and relate to your clients’ view in a way that fits you as a person. In addition, I would recommend you to discuss your actions and communication efforts with colleague entrepreneurs in an intervision setting, facilitated by an expert coach on change management and communication. Ask them for feedback. In other words; work on your personal development and communication style parallel to your professional development as an entrepreneur and business expert. This makes you stronger as a person and more visible as an entrepreneur. It will also generate more sustainable business results and a more successful business in the long run. Stay alert, be proud and allow yourself moments to look back on what you achieved in both ways; as an entrepreneur running a business and as a person getting the most out of his talents and core qualities. It is the start to transform your company into a formidable competitor.
– Insight without action brings no change –