Over the last 10 years companies have been downsizing, rightsizing, etc. doing whatever they can to whittle their workforce to the bone for the sake of survival.
Many employees of these organizations are asked to wear multiple hats and do more with less. It goes without saying the stress is taking it’s toll. Therefore, many decide they want to start a business. Become an entrepreneur.
Keeping it real? Most are not cut out to begin, grow, and maintain a business in this competitive environment.
If you’re thinking of flying solo, leaving your 9 to 5 to be your own boss, I’d say hit the pause button. Before you cut the cord, consider ways you can be more entrepreneurial at your current organization.
If you’re already a business owner looking to expand your footprint, there are ways to tap the dormant entreprenurial potential that exists within your current team.
The following guest post by Jennifer Lawhead, Community Manager at TTI Success Insights, sheds light on this very subject. End Game Business is a Value Added Associate of TTI Success Insights and they’re full suite of assessment products and services.
THE ENTREPRENEURIAL SPIRIT OF ONE LEMONADE STAND
Even though entrepreneurs can come from all walks of life and specialize different niches, but one common trait unites them – they have an entrepreneurial mindset at a very young age.
This week, an 11-year-old entrepreneur, Mikaila Ulmer, is in the news for signing a contract with Whole Foods to sell her lemonade, developed from her great-grandmother’s 1940 recipe. Ulmer appeared on Shark Tank years ago and continued to build her idea into the thriving business it is today.
Embracing an American trend of selling lemonade, Ulmer did what most children don’t – she catapulted it into a lucrative business venture all well before she reached her teenage years. Not only does her business sell lemonade; it’s also a social mission because she donates a portion of the profits to organizations trying to save honeybees.
Ulmer epitomizes what TTI Success Insights found in research studying entrepreneurs. Our research shows 42 percent of entrepreneurs have determined they want to own their own business before the age of 12.
So, what can we learn from Ulmer’s entrepreneurship? For starters, a person with an entrepreneurial mindset can thrive just as easily within an organization as they can by developing their own business.
Knowing this, businesses should recognize that the entrepreneurial mindset is likely alive and well among some current employees. This means leaders need to find ways to harness this talent within their businesses to ensure they are constantly innovating. They can do this by allowing entrepreneurial types to grow, empower them to solve problems on their own and develop creative solutions. Finally, ensure you know their behaviors and driving forces to communicate with them efficiently and ensure their work aligns with the forces that inherently drive them.
Lastly, those with an entrepreneurial mindset are natural leaders, just like Ulmer. Finding a way for them to develop that mindset within an organization will pay dividends for any company willing to make the investment.