The Leader-Manager Entrepreneur


One of my favorite books on leadership is the late Stephen Covey’s: The Seven Habits of Highly Effective People.

Covey’s articulation is top-class. He convinces you that there are two almost independent spheres: One for the leader and another for the manager. Could one person juggle between the two? Covey didn’t particularly recommend that, stressing that a leader should not be consumed by the day-to-day details of the business. Rather, he or she should be totally focused on vision, mission and long-term objectives.

While this can be true in corporations, when it comes to small businesses and entrepreneurship, the lines between the two worlds become rather blurry.

One day, your main focus would be on the five-year strategy of your marketing plan, the next you find yourself under a desk plugging Ethernet cables, or sorting out receipts of recent purchases. And that is the beauty of the whole thing, of the one-man-show adventure. That’s how it starts, and sometimes, that’s how it continues to run. Having said that, I do strongly recommend starting with a credible partner, who would stick with you the whole journey. Loneliness could be tough when the winds are not behind your sails.

In the previous article, Risk and Reward: The Two Vital R’s of Business, we talked about how an entrepreneur must evaluate their RT before delving into the ocean of business on their own. Here we explore how that is tested on the ground, in the midst of it. Now you know how much risk you can bear in order to reap a reward you had seen before you started!

On the lighter side of things, one would need suits and overhauls in their closets. Black, shiny shoes and thick, sturdy work boots. Fine perfumes and grease-cleansing hand soap.

This is not living two personalities. On the contrary, this is extracting the best of your God-given talents and putting them on the line.

Switching between the two roles becomes natural over time. A new, well-rounded personality, rooted in a character of offering true value and sincerity, evolves out of the continuous interaction with challenges and finding intelligent solutions.

Another aspect of this dual responsibility/multiple hats dynamic is being able to focus entirely on the one task at hand, no matter how different the previous or the next task would be. For example, you could be in a meeting with business stakeholders to discuss your product strategy. While in that crucial meeting, you remember that afterwards you must take care of an urgent maintenance issue in the office. The stakeholders meeting calls for your leadership presence, while the maintenance problem requires handyman skills. Being able to focus and then shift is key here. You could think of other interesting and fun examples that fall into the same realm.

Is there a special training for such interactive talent? I don’t think so. The best training is on the job, by actually trying, making mistakes, and learning, till the pool of skills is honed to almost perfection.

Enjoy!

The Wealth Maker

Woodworking: A Sleeping Talent to Explore


‘A sleeping talent is a gift one has, but they are not fully aware of its existence.’

Most of the time it takes doing something that requires using such talent in order to wake it up. It doesn’t have to be artistic though. Being good with numbers, for example, is a gift, which could come in handy one way or another, and be awaken by a genuine need (trying to figure out where all the money is going to 🙂

Recently, I’ve noticed an increasing interest in anything wood. Also noticed liking to go to hardware stores, enjoying the smell of wood, and exploring woodworking tools, raw wood boards and blocks.

It turned out that that was an actual sleeping talent (which might have its roots back in the childhood days), and when put to the test produced two handmade products, now posted on an aspiring new Etsy store, CanFour.

 

 

Of course, monetizing a genuine/original talent comes with few considerations:

  • Is it going to stay fresh and vibrant as product and financial concerns come into play?
  • While producing one item is exciting and engaging, creating a product line is a different story
  • Is there a market and what would drive sales?
  • Is an online store the right business model?

Some might argue that business, namely marketing and sales, carries an artistic spirit. I’d agree, but this is a different flavor of art.

In this case, the business vision drove creativity! The decision to start an Etsy store as an element of a Multiple Streams of Income (MSOI) strategy preceded finding product ideas, let alone alone production. I’ve found that quite interesting. I guess the lesson here is the following:

‘It doesn’t really matter where and how innovation kicks in; whether it’s a hunch while taking a walk in the mountains, or an insight popping up during a deliberate planning session. What matters is how you capitalize on that and bring it to light.’

Going forward, you will notice that The Wealth Maker blog is becoming a proactive ‘voice’ of the emerging ventures. Furthermore, it will continue its mission to deliver quality knowledge and practical tips to wealth aspirants from all walks of life…

Till our next post, stay tuned and enlightened!

The Wealth Maker