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Concordia AIESEC "Building an Entrepreneurial Team"

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Presentation to AISEC at Concordia - Nov. 13, 2010.

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Concordia AIESEC "Building an Entrepreneurial Team"

  1. 1. Building an Entrepreneurial Team  Thinking like an Owner  Understanding Vision, Mission, Values  Providing both Strategic Leadership and Performance Management  Fitting Individual Differences within the Corporate Culture  Working as a Team
  2. 2. 1. Introduction 2. What is an Entrepreneurial Organisation? 3. How to Build, Lead and Train an Entrepreneurial Team 4. Conclusion and Questions
  3. 3. Management consultant to owners, managers and entrepreneurs in small and medium-sized businesses. Education: Eng. (UBC’68), MBA (McGill’72) Corporate experience: Alcan, Coopers & Lybrand, AES Data Entrepreneurial experience: President & Owner of TTX™ Computer Products Owner/executive with Internet and other start-ups. www.DirectTech.ca
  4. 4. What is an Entrepreneurial Team?  Thinking like an Owner  Understanding Vision, Mission, Values  Providing both Strategic Leadership and Performance Management  Fitting Individual Differences within the Corporate Culture  Working as a Team
  5. 5.  Home based business, multi-level marketing  Independent contractor – trade or professional  Sales agency – insurance, real estate, financial services  Franchise – retail, fast food, business services  Independent business – local, national, global  Retailer, hospitality, food services, consumer services  Manufacturer, distributor, service businesses  Internet or technology business  Entrepreneurial role in a corporate environment
  6. 6.  Personal expectations – life style, work environment, rewards, compensation?  Personal awareness of strengths/weaknesses?  Education, training, personal skills?  Personal characteristics of an entrepreneur? ◦ Independent, confident, persistent, action-oriented, risk taker. Passionate, leader, achiever, communicator.  Strong foundation – family, physical, financial?  Team player - willing to work with other employees, business partners, suppliers, customers?
  7. 7.  Develop and document your business concept, strategies, action plans and projected financial results as a guide for management.  Share it with key employees.  Review it regularly - check results against the plan.  Revise the plan regularly – not the goals and the values.
  8. 8. 1. Executive summary 2. Concept and business opportunity 3. Mission, Vision, Values 4. Market analysis 5. Competition 6. Strategic plan 7. Management team and Organisation Plan 8. Product and Service offering 9. Marketing and Sales plan 10. Operations plan 11. Risk analysis 12. Financial plan Appendices
  9. 9.  Building long-term shareholder value.  Not driven by short-term profit.  Providing both Strategic Leadership and Performance Management  Balancing needs of other stakeholders – employees, customers, suppliers, lendors/investors, society, community, environment.  Seeing the business as a whole.
  10. 10.  Vision = Where the market is going.  Mission = What we are going to be when we get there.  Values = How we are going to behave as we go there.
  11. 11.  “First Break All the Rules”  Recognize people will not change their personalities.  They may change their attitudes and their habits.  Build on their strengths, accept their weaknesses.
  12. 12.  People need to play their position.  Allow them to specialize at what they do best.  Consistently, Constantly, Communicate and Confirm the Vision, Mission, Values.  Make sure they understand the specific short- term goals, their roles, and your expectations.  Lead by example.  Get out of the way!
  13. 13.  Recruiting (and releasing)  Policies and Procedures  Communication  Organisation  Compensation
  14. 14.  Is it appropriate for every organisation?  Can every employee think like an entrepreneur?  What are the risks and potential problems?  Are there other steps required to get there?  Your Questions?
  15. 15. Del Chatterson DirectTech Solutions www.directtech.ca del@directtech.ca (514) 767-9984

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