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 (219 hits)

Article written by: Sophia Matveeva

https://www.forbes.com/sites/sophiamatveeva/2019/05/05/professional-development-for-entrepreneurs-why-it-matters-and-how-to-do-it/#5f3f87a71f08

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...
Email:
Password:

 
Forward This Article Entry!
News Home

(Advertise Here)
Who's Online
>> more | invite 
Most Popular Bloggers
cr minister has logged 313 blog subscribers!
melody rivera has logged 93 blog subscribers!
wali choudhry has logged 55 blog subscribers!
joelle regh has logged 54 blog subscribers!
laurah onkendi has logged 51 blog subscribers!
>> more | add 
Latest Member Activity
kyle dinapoli just posted a article entitled '8 entrepreneurial skills you should teach your kids '. 05:45PM
kyle dinapoli just became a new member. 05:37PM
adrienne lam just posted a article entitled 'eleven financial fundamentals every small business ceo must know'. 05:08PM
adrienne lam just posted a article entitled 'how to improve employee wellness'. 11:25AM
paarth garg just posted a blog entitled '4 steps to growing your business now'. 11:19PM
sarah fattah just edited her profile. 10:38PM
sarah fattah just posted a article entitled 'how the vc pitch process is failing female entrepreneurs'. 09:55PM
sarah fattah just became a new member. 09:48PM
shazim chaudhary just posted a video entitled 'what to include in a business plan for your app idea'. 08:34PM
shazim chaudhary just became a new member. 08:23PM
daniel biel just posted a article entitled 'the secret to success is a question of habit. here's 10 powerful habits practiced by top executives, and a gui'. 02:38PM
daniel biel just became a new member. 02:27PM
>> more | invite friends