From Founder to Leader – Building a Company From an Idea
From Founder to Leader – Building a Company From an Idea
-- Woody Allen
Much has changed since Woody Allen came up with this line in 1977 – but the basic premise remains – any entrepreneur has the ability to bring an idea to fruition with the right backing. However, it takes more than money to make it work, and one of the main points of pain in building a company is making the transition from founder to leader. It’s a tough transition, and one that many startup founders fail to make.
There is a point in every company life cycle when the original team needs to expand. If extraordinarily lucky, this expansion will be funded by revenue, but in most cases there is some form of initial investment that comes from angel investors or friends and family. It’s then that the founder needs to start bringing in outsiders to build out the organization.
In a VC backed startup, the founders rarely survive beyond the first round of funding as they are typically replaced with a trusted team that is put in place by the VC’s. However, there are many companies that bootstrap their way to product creation, and it’s these founders that normally have a hard time making their mark as effective and inspirational leaders as they attempt to scale their idea into a real product and take it to market.
The root cause of this can usually be traced to poor communication skills – a common problem for the typically introverted inventor / entrepreneur. For someone that is used to doing everything themselves, with only themselves to hold accountable, the ability to clearly articulate a vision for the company, create strategic business objectives that align to that vision and then foster buy-in to that strategy is daunting at best.
So what should they do? There are a few good practices that will give any small and growing organization a better chance to succeed.
Be open: Founders need to develop the ability to communicate openly with their staff – nothing fuels discontent more than mystery. If something is wrong, get it out on the table for discussion - immediately. If something is right, let everyone know so the success can be celebrated – no matter how small.
Be flexible: Early stage strategy will be tested by market and customer reality – founders need to recognize the need to course correct, and ensure that everyone understands the reason for changes in direction.
Be inclusive: Founders will be well served by respecting the skills and expertise that outsiders can bring to their company. Too many times the founders of the company keep their own counsel and exclude newer members of the team from high level discussions. Asking for opinion and input to strategic decisions can promote buy-in and pave the way for successful execution.
These are but a few ideas that can help a founder become a leader. With an emphasis on better communication, those who start the ball rolling can inspire others to help turn “my idea” into “our idea” and lead the way to success.
From Founder to Leader Building a Company From an Idea - To learn more about this author, visit Linda Jackson's Website.
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“Right now it's only a notion, but I think I can get the money to make it into a concept, and later turn it into an idea.”
-- Woody Allen
Much has changed since Woody Allen came up with this line in 1977 – but the basic premise remains – any entrepreneur has the ability to bring an idea to fruition with the right backing. However, it takes more than money to make it work, and one of the main points of pain in building a company is making the transition from founder to leader. It’s a tough transition, and one that many startup founders fail to make.
There is a point in every company life cycle when the original team needs to expand. If extraordinarily lucky, this expansion will be funded by revenue, but in most cases there is some form of initial investment that comes from angel investors or friends and family. It’s then that the founder needs to start bringing in outsiders to build out the organization.
In a VC backed startup, the founders rarely survive beyond the first round of funding as they are typically replaced with a trusted team that is put in place by the VC’s. However, there are many companies that bootstrap their way to product creation, and it’s these founders that normally have a hard time making their mark as effective and inspirational leaders as they attempt to scale their idea into a real product and take it to market.
The root cause of this can usually be traced to poor communication skills – a common problem for the typically introverted inventor / entrepreneur. For someone that is used to doing everything themselves, with only themselves to hold accountable, the ability to clearly articulate a vision for the company, create strategic business objectives that align to that vision and then foster buy-in to that strategy is daunting at best.
So what should they do? There are a few good practices that will give any small and growing organization a better chance to succeed.
Be open: Founders need to develop the ability to communicate openly with their staff – nothing fuels discontent more than mystery. If something is wrong, get it out on the table for discussion - immediately. If something is right, let everyone know so the success can be celebrated – no matter how small.
Be flexible: Early stage strategy will be tested by market and customer reality – founders need to recognize the need to course correct, and ensure that everyone understands the reason for changes in direction.
Be inclusive: Founders will be well served by respecting the skills and expertise that outsiders can bring to their company. Too many times the founders of the company keep their own counsel and exclude newer members of the team from high level discussions. Asking for opinion and input to strategic decisions can promote buy-in and pave the way for successful execution.
These are but a few ideas that can help a founder become a leader. With an emphasis on better communication, those who start the ball rolling can inspire others to help turn “my idea” into “our idea” and lead the way to success.
From Founder to Leader Building a Company From an Idea - To learn more about this author, visit Linda Jackson's Website.
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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