Home Invites Members Groups Events Videos News Photos Blogs Forums Chat
Home > News > Post Content

Professional Development For Entrepreneurs: Why It Matters And How to Do It (151 hits)

Article written by: Sophia Matveeva


Entrepreneurship is hard on many levels, but one difficulty I did not foresee was the need for personal and professional development, which big companies often provide. While the myth of the entrepreneur is that of a visionary, following their instincts to build a global behemoth, the reality is that entrepreneurs are professionals, and need help to develop professionally.

Without feedback and a structure that a good corporate gives employees, entrepreneurs can be left in a vacuum, not understanding what they are doing wrong. In fact, startups often outgrow the capabilities of their founder, and venture capital investors hire professional CEOs to replace them. In a study of 212 startups, Harvard Business School academic Noam Wasserman found that it less than half Founder-CEOs were still CEO after three years, and less than a quarter of the CEOs of the companies that reached an IPO were Founder-CEOs.

While some of this change is because the founder is simply not interested in building the processes that come with scaling, another aspect is the lack of the founderís development as a leader. So how can founders solve this problem, in the absence of a boss or a corporate development program?

Just like they solve all the other start-up problems: recognize there is an issue and make a plan to work on it. I realized this when one of our investors gave me feedback about the way I handled a meeting, and suggested that I invest in my development by getting a coach.

This happened seven months ago, and I do see changes in my work and life now. Company meetings run better, there is more clarity in what everybody is doing, which has resulted in a better product for our users and more revenue for the company. However, I also see the amount of work and energy this has taken from me, which leads me to conclude that taking your development into your own hands is like getting a part time job. Just like a job, it requires a vision of what you want to achieve, a strategy to get there and a team to help you along.
Posted By: Derek Lyons
Sunday, May 5th 2019 at 2:30PM
You can also click here to view all posts by this author...

Report obscenity | post comment
Share |
Please Login To Post Comments...

Forward This Article Entry!
News Home

(Advertise Here)
Who's Online
>> more | invite 
Most Popular Bloggers
pamela duchnowski has logged 269 blog subscribers!
alborz jelvani has logged 233 blog subscribers!
yuheng zhou has logged 223 blog subscribers!
jamal kareem has logged 165 blog subscribers!
aakash patel has logged 155 blog subscribers!
>> more | add 
Latest Member Activity
pamela duchnowski just posted a blog entitled '12 mistakes i made my first year as an entrepreneur'. 09:50PM
pamela duchnowski just posted a web link entitled 'why we need to nurture entrepreneurship in young girls'. 09:43PM
pamela duchnowski just became a new member. 09:34PM
alborz jelvani just posted a blog entitled 'using software defined radio for stock market transactions'. 01:40PM
alborz jelvani just became a new member. 01:32PM
jamal kareem just posted a blog entitled 'social media and innovation'. 09:54PM
jack enright just edited his profile. 09:19PM
jack enright just posted a blog entitled 'how this food-delivery entrepreneur pivoted to cannabis-delivery'. 09:15PM
jack enright just became a new member. 09:09PM
aakash patel just edited his profile. 08:30PM
aakash patel just posted a blog entitled 'new tobacco marketing strategy'. 08:25PM
salvatore maiorana just posted a article entitled 'these could be europe's fastest-growing economies in 2019'. 08:53PM
>> more | invite friends