1. BE BRAVE! Edexcel A-level Business Theme 1
1.5 Entrepreneurs and Leaders
Moving From Entrepreneur to Leader
Potential difficulties
Adapting the mind-set; being able to let go of controlling everything
Sharing ownership and control
Trust
Lack of leadership qualities
As a business grows, the role of the entrepreneur is also likely to change. There is likely to be an increase in the:
Number of employees
Number and size of financial transactions
Number and size of customers
Amount of regulation
Quantity of resources used
Level and range of communication needed
Therefore, entrepreneurs will have to adapt and perform different functions in order for the business to remain successful
Overcoming difficulties
Delegation and trust
Earn respect
Maturity and experience
Education
Reduce stress
BE BRAVE!
Changes will most probably be needed with:
The need for formality
The need for shared ownership
Greater responsibility to others
The need for motivation and inspiration
The need for strategy and vision