As we inch closer to Thanksgiving and take stock of our gratitude, already-settled companies should reflect on the value of having entrepreneurial employees on board. Former business owners and entrepreneurs who are committed to transitioning their focus and experience to work for someone else can offer valuable skill sets and talents, distinguishing them from other candidates.
The key here is that companies have to keep their eyes open to the fact that entrepreneurial employees can offer so much if given the resources, space and time to innovate.
Here are just a handful of reasons why leaders within a company should aim to hire entrepreneurs when possible:
Entrepreneurial employees understand the nuances of leading
Entrepreneurs understand the pressures that the captain of the ship endures, from the struggles of paying contractors and employees to keeping the sales pipeline full to managing projects and people, each and every day. Having experienced this makes them more sensitive to another employer's bottom-line needs and often means they will intuitively act to alleviate your pressure.
Entrepreneurial employees are well connected
Entrepreneurs often bring a large network of relationships that they have relied upon for various areas of challenge and growth – from capable vendors, and technical resources to potential clients and problem solvers for any number of issues your company might face now or later. The personal relationships that they have developed with potential clients or vendors serve as an asset to any company, especially if no one within the company was able to tap into these individuals prior. The biggest benefit is that with every entrepreneur come all those with whom they have done business.
They prioritize innovation
Entrepreneurs are innovative by definition. In order to succeed at the helm of a company – to make money, build new products, deliver quality service, and endure the economic storms that batter their bottom line – entrepreneurs have, at various points in their leadership, been required to deploy innovation. Their approach to problems and hiccups a company may face are usually born from a place of ingenuity and creativity, both qualities they needed to have especially when their own endeavors were smaller. The innovation they had to implement when they were running their own business lends itself well to establish company’s competitive edge.
Entrepreneurs are personable
Whether introverted or extroverted, shy or outgoing, a successful entrepreneur must learn to build and expand upon relationships in order to grow. This can be of value for any number of reasons, not the least of which is internal company culture – building relationships with colleagues and those up and down the chain that they are dependent upon to keep projects and initiatives moving forward. Their ability to be personable also means that they are able to create unity around a single mission. Their relationships and established connections will make it more likely for those within the company to willingly and excitedly follow.
They know how to fail quickly and bounce back
Tenacity and resilience are two trademark characteristics of any entrepreneur. Throughout their career as an entrepreneur they have learned how to try and fail quickly, which ultimately saves time, resources and opens up avenues for new opportunities. Most importantly they’ve also learned how to jump back — they know how to take what they’ve learned and apply it to the next project they need to be working on. Whether they built a product that was a breakout success or they stumbled through several ventures only to later land a revenue-driving outcome, nearly every entrepreneur can outline a story of failure at some point in their career – and how they bounced back for the better.
Entrepreneurial employees are positive
Entrepreneurs are positive natured. While this may seem like a broad assumption to make, the reason it made the list is that for any start-up to succeed, there has to be an underlying assumption that the idea behind the business is a good one. There must, therefore, be an element of positivity – of hope, if you will – that maintains the momentum through the hard yards that accompany most new businesses, and those businesses that are in any sort of evolution. Hiring an entrepreneur, especially if your company is in need of a shot of positivity or needs extra motivation, can be a great move. With them often comes a spark for change and just the right amount of invigoration that your employees are looking for.
Even those entrepreneurs who began a successful ownership career out of the gate will tell you that along the path of revenue growth, they had moments of falling flat on their face, getting back up, brushing themselves off and starting over again. For this reason, entrepreneurs have either brought with them an innate tenacity or they have muscled up in this area over the years.
The positive effects an entrepreneur can have on your company are endless. The investment you make in them will make it easier for your company to innovate and remain on top during a time of so much industry change. The added benefit being that they are individuals who know how to channel their determination into projects they are passionate about: namely your company.