Decisive action is characteristic of the entrepreneur
November 11, 2007 – 6:05 amEmployment = comfort
When you work for someone else, you develop a sense of comfort. This is primarily due to the fact that you enjoy a “buffer” zone that insulates you from the direct effects of any actions you may take.
Few, if any decisions that you make have a direct impact on the performance of the company you work for. Of course, I realize that this is a broad statement and excludes:
- rain makers
- those that work for very small businesses
- high ranking members of management
For example, when you work for someone else and you decide to “lay out of work” for a day:
- How did your absence affect business operations?
- Did production stop?
- Did deliveries stop?
- Did the price of the company’s stock rise or fall?
Performance may have been less than optimal, but production and deliveries did not stop. This is because every business has a certain amount of inefficiency built into it. As the company becomes larger, employing more and more people, the affects of your performance decreases in proportion to the number of people employed. Again, the exceptions being for those key persons stated above.
Entrepreneurs cannot afford to get comfortable
As an entrepreneur, almost every decision you make has a direct and immediate impact on your business.
1. There is no option for “laying out of work” or “taking a personal day”.
In most instances, you are the business. You are:
- the owner
- the manager
- the head of production
- the delivery guy
- the receptionist
- the sales force
- the marketing team
- the janitor
Not only is your performance vital to the state of the business, but without you at the helm, normal business operations cannot occur. Typically, entrepreneurs work long hours because:
- their business is their passion
- their success is directly related to their performance
2. You must be able to make decisions “on the fly”.
This means that you have to base your decisions on the information available “right now”, often using only your “gut” instinct. Most of the time you do not have the luxury of taking a “wait and see” approach. Therefore, each decision you make has the potential to have a huge impact on your business.
3. You cannot tolerate inefficiency, bad attitudes or poor performance.
If someone is not working out, be it an employee, supplier or contracted professional, they must be eliminated from the organization. This must be done quickly before their performance can cause a detrimental effect on the business or its reputation.
4. You must be able to cut your losses and move on.
You will make mistakes. It is the nature of the beast. You cannot have all the answers because everyone you deal with is an individual and must be dealt with on an individual and personal basis. If something or someone is not working out, quickly make the decision to confront the issue, modify it or take action to minimize its effects on your business. But if it is a problem then deal with it as quickly as possible. Problems seldom go away on their own.
5. Your business will involve interaction with other people.
You must always be on your toes to present a professional and courteous disposition. No matter what else is going on in your life, whether business or personal, you are the “image” of your business. Personality counts and lack of it will not be tolerated for long.
Entrepreneurs are on the front line of business
Entrepreneurs make the hard decisions because they don’t have any choice. Everyone within the organization affects the performance of the whole. The fewer the people involved, the greater the potential impact of the individual. If there is a problem with personnel, deal with them. And do it swiftly.
How is your shoulder performance and flexibility?
7 Responses to “Decisive action is characteristic of the entrepreneur”
Most people who fail in their own businesses do so because:
1. They spend too much time on planning and research, and not enough on doing.
2. They are hesitant to change things that aren’t working.
3. They believe they are immune to the laws of #1 and #2.
If you can’t believe in a ready-fire-aim philosophy to your very core, you should be working for someone who does.
By Michael Werner on Nov 13, 2007
Great additions Michael and you are correct. Planning is highly overrated and change is almost never embraced. It is usually accepted after a long fight as the last resort. Thanks for the heads up.
www.therotater.com
By Chris Melton on Nov 13, 2007
Hi Chris,
Good take on being decisive. I gave a thumbs up for this.
This rings with me. I also face decision making daily at work. Some folks like to grumble about how management always make bad decisions, but they don’t fully appreciate the conflicting factors at play.
My belief is this: “A bad decision is better than no decision” A stalement or status-quo will mean definite failure in this age. In taking the risk to make a bad decision, at least there’s a chance to make it good.:)
By Lawrence Cheok | A Long Long Road on Nov 17, 2007
Everybody likes to be an “arm chair quarterback” and second guess our decisions, but like you mention, there are many factors that influence what and how you take action. The point is to take action. This is one of the characteristics that contributes to an entrepreneur/manager’s success.
People will not follow someone who cannot make up his mind or is stuck in his decision-making process. Thanks for your support.
By Chris Melton on Nov 18, 2007
Comfortable as an employee? Perhaps I’m different from most, but that certainly didn’t apply to me. I wasn’t much good at taking orders and was always itching to be my own boss. I agree with you 100% on taking decisive action, though.
By Allan Gardyne - Conquering adversity on Feb 18, 2008
Thanks for your views Allan. I was speaking broadly, when is said that “employment = comfort”, and only to those who do not feel the need to be in control of their destiny.
By Chris Melton on Feb 18, 2008