Many of the successful entrepreneurs that decided to share the secrets of their success testify to one synonymous fact. The entrepreneurial team is the most important component of the firm. Arthur Rock says, “If you can find good people, they can always change the product. Nearly every mistake I’ve made has been I picked the wrong people, not the wrong idea.” [ (Timmons & Spinelli) ] An entrepreneurial team is a critical ingredient for success. The article “Seven Keys to Shaping the Entrepreneurial Organization” points out that the essentials to a successful organization is to:
1) Hire self motivated people; entrepreneurs do not have time to motivate employees. They should bring people on board who are already self motivated. It is imperative that the team is made up of players who are self motivated and have a proven track record. Entrepreneurs should hire candidates who are smarter then themselves. 2) Help others be successful; in order to foster an environment of partnership and commitment you must find out the goals, dreams and aspirations of your members. The inspirations of the company should be in concert with the employees. Use specific motivators for the individual, each person is unique and has their own interests. Employees should be treated as individuals. 3) Create clarity in the organization—clarity of purpose, direction, structure and measurement; Let employees know the motivating factor in the creation of the company. Employees should understand the reasons why the leaders believe in the company. The company needs clarity so employees will know why the company exists. Analysis should be done to assess the needs of the firm and communicated clearly. A growing firm must take the needs of its organization into consideration. After careful analysis leadership must...
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