There are inherent differences between being a good entrepreneur and a good leader. Think about it: the entrepreneur is often alone with an idea that breaks existing processes while the leader drives a team forward by building solutions and structures around an idea while implementing processes to track progress and create efficiencies.
These two types seem almost contradictory in action; however, there are ways to bridge the gap. Below are some suggestions.
#1: Team structure: The “I” vs. “Us”
The entrepreneurial you might want to do everything by yourself. You might tell yourself you’re the C-Freaking-O of everything, while the leadership you knows you need to delegate responsibilities to your team and provide them a clear sense that it’s “us” in it together.
Well, the best way to bridge this gap is to do it the Stan Lee way. Stan Lee created many of his Marvel comics by starting with an idea and then giving it to an artist to develop the scene-by-scene before finishing it off with the writing. Thus, as an entrepreneurial-leader, know the key points of your product/service and identify the right people on your team to build and perfect it. This allows you to keep the integrity of your product/service while allowing your team to exert their “muscles” and feel they’re part of the overall.
#2: Mindset: Creating vs. Building
The entrepreneurial you wants to continue to create something different—something outside the realm of existence, while the leadership you understands you need to build upon your creations. No house is built without the efforts of all those involved from the construction crew to the plumbers to the electricians and even to the gardeners.
The way to solve for this dichotomy is to have regular team brainstorming sessions so that everyone on your team, including yourself, can be a significant part of the creating and building process. The other way—what I’d like to call the Google Way—is to challenge your team to come up with their own company projects and give them the time and support to pursue it. This will give them the creative space they need to innovate.
#3: Process: Breaking vs. Implementing
The entrepreneurial you is tired of processes. Processes are like chains holding you down. Your goal is to break them completely. However, the leadership you realizes the need for process to instill organization and structure for your team. Process allows you to identify, as a leader, who’s on task, who’s outperforming, who’s happy or unhappy with their jobs.
So, think of “process” as the gutters along the side of a bowling lane. They’re not chains to keep you from thinking outside the norm. They’re guides so you’re not leaving anything to misinterpretation or miscommunication. Processes allow your team to understand the direction and the risk and rewards associated with going down a specific direction. Therefore, at the very least, establish a robust and clear reward process for your team. Then, create regular meetings to track your team’s progress. Are they on-point as a whole? Is one team member outperforming while another is lagging? How do you reward the outperformer and incentivize the underperformer?
#4: Harnessing Talent: Retention vs. Firing
This one is the toughest.
The entrepreneurial you knows how difficult it is to convince amazing talented people to work alongside you without any pay for a substantial amount of time. On the other hand, the leadership you understands how one bad egg in your team can lead to confusion, distrust, turmoil or, worse, the death of your company. As a result, the entrepreneurial you wants to retain talent while the leadership you wants to get rid of bad influences.
This is where I’d like to use the human body as an example of a successful coherent team. It could be that you might not have the best right hand or the strongest left leg; however, without either part you can’t ride a bike. It’s the same with a team. Having a nice balanced team dynamic is oftentimes even more important than having the best talent for each division. You can always strengthen the right hand that might be a bit weaker than the rest of your body; however, if your right hand becomes gangrened and starts affecting the other parts of your body, you will become ineffective.
That being said, “firing” doesn’t mean the person you’re letting go is a bad person. It just means that that particular person isn’t the right fit for your team. Think of the health of your team overall. What do we need to strengthen to hit the next several milestones? What additional resources does your team need to move forward? Which team members are making negative impacts on the team? What can you do to create even more efficiencies on your team?
In conclusion…
As an entrepreneurial-leader, you can have the best of both worlds. You can understand the “needs” of the one while addressing the “musts” of the whole. By creating an opportunity for individuals to shine while building the company as a whole, you will not only allow for creativity and innovation to flourish but also provide a unique strength to help push your vision, team, and company forward.