There is something ironic about the idea of hiring entrepreneurs. By definition, the entrepreneur fits in the Venn diagram outside of the traditional workplace domain.
But there are some people with the entrepreneur mindset who may see the benefits of working within an established business.
The lure of a steady paycheck, the excitement of company growth, and the passion behind a great product or brand can all draw in someone with an entrepreneurial mindset.
And as an entrepreneur yourself, you know all too well the excitement, frustrations and overall personality of someone wanting to be their own boss… don’t you?
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It is your job to identify these traits and use them to benefit your company while maintaining employee satisfaction and your management satisfaction, as well.
To help, consider the following:
First and foremost of the entrepreneurial behaviors, this employee is – or should be –a natural self-starter.
Research into self-responsibility in the workplace sees this trait as philosophical, making management conversation with the employee into something ethical, critical, and profound.
That is an elegant way of saying the self-responsible employee is extremely coachable, the holy grail of employees.
Coaching is the best way to create lasting personal change in an employee.
This makes the entrepreneur in your company a long-term asset who will be coachable as your business expands.
2) Seeing What Is Not There
In an article published in the Journal of Small Business Strategy, the author compares entrepreneurial vision to a dancer in a play.
The dancer interprets the dance, seeing something that is not there and bringing it to life. This is the gift that the entrepreneurial mind brings to a traditional business.
Where a normal employee can be limited by the confines of existing policies and procedures, operational structures, and product lines, the entrepreneur will find opportunities.
When managing against this trait, it is important to acknowledge the importance of the vision, even if there is no implementation.
3) Risk Taking
The entrepreneur is a natural risk taker. This can be a double-edged sword for your business. On one side, risk taking can yield high returns on investment.
This may happen through new product lines, increased market channels, and investment opportunities.
Risk taking comes with the possibility of failure, which is alright in the entrepreneur’s mindset.
As Edison said, there is no failure. There are just a thousand ways not to succeed.
Match a logical mind to the risk taker to temper the trait and use the natural tendency as a problem solver to move the employee’s ideas forward.
4) Problem Solving
Going hand-in-hand with risk taking, the entrepreneur must be able to solve problems. A risk taker without problem-solving skills is just foolish.
The ability to problem solve makes an employee a natural moderator, perfect for discussing controversial topics.
To keep this employee happy at work, you will need to place her in the center of discussions.
A problem solver is happiest when she has a problem to solve. Ultimately, this is your crisis employee, always finding the middle ground in every situation.
The entrepreneurial employee is engaged, persistent, tenacious, and steadfast. Keep these employees happy and they will stay with your company forever.
You will need to be direct in your feedback to keep these employees engaged. Research shows that simple managerial support is not enough to keep this employee happy.
They need consistent, honest, positive feedback to stay involved with the company. When you look at all of the behaviors, the entrepreneurial employee can be a central player in a successful organization.