At some point, a growing business moves from being an entrepreneurial company to being a managed one. And if the entrepreneur can't make the leadership transition — or isn't willing to relinquish control to a professional manager — the company will fail.This happens because entrepreneurs and managers measure risk and reward differently. Most managers are so risk averse, so committed to comparing risk and reward, that they cannot be entrepreneurs. Similarly, the entrepreneur is so risk-willing that he may destroy the mature business he started.
Another factor is improperly motivating employees. The entrepreneur is a classic swashbuckler who waves a sword and yells, "Let's take the beach!" His or her people eagerly follow — regardless of whether or not they're well prepared for the attack. On the other hand, the managerial leader checks out different beaches and analyzes which one to take first and which employees are best to deploy. The manager is safeguarding the company's many assets. The entrepreneur is forced to accomplish goals with very few assets; he or she is compelled to risk assets, or the job cannot get done.
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Author: Lloyd E. Shefsky
