A new Business venture typically starts with certain market gaps identified by Entrepreneurs. Skill and /or knowledge of the “opportunity identifier” takes shape of a product or service to fulfill the market needs or want.
Initial period of the business is trying everything to get few customers. The enthusiasm of this courageous person results finally into a small but successful business.
After the initial moves, where steps are taken with full strides, the smart owner of this small business starts realizing that what he has achieved is only the tip of the iceberg in his industry. Its usually after several years of hard work in the business the questions arises “what now”?
The success formula of Entrepreneurs is to always stay at the center of the business to have maximum mobility in any direction or let’s say any department like sales, marketing, production, finance etc to control the business more strongly. As the business scales up and becomes more complex, the role of the owner quickly changes from opportunity identifier to problem solver. The Progressive approach unknowingly becomes Protective over a period.
This change from “progressive to protective” does not happen overnight! Controlling situations from centre will not allow you to think & analyze the situations rationally. This will make you work towards your “urgent” business requirements and make you park your “Important” business decisions.
As a Business leader, the real responsibility is evaluation of your business position and setting up of goals and long term plans for future. Too much dependency on any one department or business function or asset can lead to strategic imbalance. Our responsibility as a leader is to preserve and build the Organisation.
Focusing on your core business is much more important than working on opportunities which are adjacent to your core business. In the zest of expansion, improper utilization of resources can lead to disaster. For long term business goals , major focus should be on strategic differentiation and execution which creates advantage for you in the market rather than only on high performance. This is only possible if you are working on the business and not in it.