When I tell people that the career management course I teach at Cabrini University incorporates lessons on emotional intelligence and entrepreneurialism, people ask me what that means, though most of them recognize the problems when entrepreneurial mindsets are lacking among their teams. In my experience, advanced learning institutions want to promote entrepreneurial mindsets, but may think that promoting actual entrepreneurship is at odds with a liberal studies education.
Back in 2005, I made plans to earn an MBA in Entrepreneurship. I even had tuition reimbursement approved by my firm at the time. My plan was to earn the degree, make sure it paid off for my firm by helping them successfully launch new services and products, as was the trend there at the time, and then start my own coaching business.
Things didn’t work out as planned, but they worked out… for me. The firm, which was over 20 years old, didn’t survive long enough to have been able to leverage my MBA, and I wound up starting my company much, much sooner than if I had earned my MBA first.
Google is quite a trend-setter, as you probably know. Businesses used to be very risk-averse; investing in new ventures isn’t territory companies will enter without extreme due diligence and substantial data. However, if you’re blazing a trail, there’s no one before you to prove which path will lead you to the promise land, and deep due diligence takes time no one can afford at the pace of change today. It’s also risky to avoid innovation, or to have so much structure that it stifles innovation. Today, you’ll be easily surpassed by more agile organizations that aren’t afraid to try and fail. On the other hand, if you jump on a bandwagon that wasn’t built right or headed in the wrong direction, you also risk failure.
To quote Jim Rohn:
“It’s all risky… If you think trying is risky, wait until they hand you the bill for not trying.”
Google has become an interesting case study for various talent strategies, including the kinds of qualities and skills that they seek. It seems that they, along with other Silicon Valley unicorns, have proven that hiring entrepreneurial talent does not make your workforce one big flight risk. In fact, it helps you innovate at a competitive pace, as long as you have the culture to nurture the inclinations of this population.
When I see a job description stating that the company wants an entrepreneurial candidate, or that they have an entrepreneurial culture, I wonder what that actually means to them.
There is a definition for entrepreneurialism, but there are also varying perceptions about the related qualities and conditions that enable companies to fully leverage it.
By some Glassdoor reviews and first person accounts, it seems that entrepreneurial could be synonymous with self-managed. With other data to add context, sometimes you can tell that a company is growing at such a rapid pace that they have little structured training, supervision, and coaching. This scares me, because even effective, successful entrepreneurs need strong mentors.
The benefits of an entrepreneurial mindset can be:
- Time management
- Combination of people and tech skills
- Project management skills
The transferable value of being entrepreneurial to a corporation is a “do what it takes” attitude.
These people don’t complain that they can’t be effective because they don’t have the resources; they go to Plan B, or C, or D, etc.
They don’t sit around while IT fixes technical problems; they go back to the old ways things were done so that progress can continue.
They don’t ask for extensions or offer apologies – they deliver some functional solution on time and promise an even better one in the future.
They don’t wait to be instructed or told; they see what needs to be done and make sure it gets done, even if they have to delegate it to someone they don’t actually have any authority to direct.
They stay on top of almost everything, keeping the customer (and revenue) at the top of the list always.
They put in extra hours when needed, and proactively invest in extra training to acquire skills that are valuable.
They make it work.
If all of this sounds great to you, let’s get clear about what you have to offer talent like this if you don’t want them to jump ship – and they will if their impact or opportunity is limited.
You need to give the room to fail. They will want to try things that have never been tried before, things that have not yet been proven. Be conscious of how often you say no, and make sure that when you say yes, you give them your full support. Back them up when they fail. Take accountability for giving them the leeway, and partner with them to devise their next victory.
Just because they can institute their own structure and deliver on time doesn’t mean that they don’t want to learn from working closely with those who have achieved more than them. Don’t let them hang too long solo without checking in, recognizing progress, and guiding them in overcoming challenges. Entrepreneurial people still want to cut out errors and get to results sooner. If you have wisdom that can prevent trial and error, offer it generously.
Just because these folks manage to do a lot with a little doesn’t mean they will sustain a job where resources are chronically limited. They’ll want to see you making investments in new technology and training. If they don’t, they’ll see the risk for them in falling behind and will seek out new opportunities.
Trust these folks to come in, work smart, honor their natural rhythms and work at their own pace, as long as they deliver. If they fail to deliver, help them understand what actually went wrong as a coach, rather than as someone who enforces punitive controls to course correct.
Give them time to recharge. This population is at great risk of burn out, because they are so driven to solve problems quickly and deliver. Even if you offer unlimited vacation, you may need to make sure that this talent is taking adequate time to manage the important aspects of their personal life – their personal finances and relationships. Make sure that they have ample time to enjoy the things that stimulate their curiosity and creativity outside of work. Help them manage their holistic wellness.
Don’t assume that these people want to climb the corporate ladder into management, though they love having an impact. What makes them great could be what they do with their hands and minds, not what they do with their people. Make sure that there are multiple mobility options for these folks to continue being challenged and growing.
Some may say that not everyone is cut out for entrepreneurial life. While I’d certainly say that not everyone is prepared for this life, everyone can adopt an entrepreneurial mindset and though we all may need to shift into maintenance mode from time to time, true entrepreneurs will not be happy staying there for very long.
Is your company seeking “entrepreneurial talent” or promote an “entrepreneurial culture?” What do they mean by that?
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Karen Huller, author of Laser-sharp Career Focus: Pinpoint your Purpose and Passion in 30 Days (bit.ly/GetFocusIn30), is founder of Epic Careering, a 13-year-old leadership and career development firm specializing in executive branding and conscious culture, as well as JoMo Rising, LLC, a workflow gamification company that turns work into productive play.
While the bulk of her 20 years of professional experience has been within the recruiting and employment industry, her publications, presentations, and coaching also draw from experience in personal development, performance, broadcasting, marketing, and sales.
Karen was one of the first LinkedIn trainers and is known widely for her ability to identify and develop new trends in hiring and careering. She is a Certified Professional Résumé Writer, Certified Career Transition Consultant, and Certified Clinical Hypnotherapist with a Bachelor of Art in Communication Studies and Theater from Ursinus College and a minor in Creative Writing. Her blog was recognized as a top 100 career blog worldwide by Feedspot.
She is an Adjunct Professor in Cabrini University’s Communications Department and previously was an Adjunct Professor of Career Management and Professional Development at Drexel University’s LeBow College of Business She is also an Instructor for the Young Entrepreneurs Academy where some of her students won the 2018 national competition, were named America’s Next Top Young Entrepreneurs, and won the 2019 People’s Choice Award.