Making the Leap: Entrepreneur > Large Company
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Making the leap from small business to large company requires adjusting your approach to resource management, operational systems, management systems and corporate culture. It is virtually impossible to make the shift without adjusting your approach in these areas.
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Making the Leap: Entrepreneur > Large Company
- 1. Making the Leap from Entrepreneurship to Large Company Virginia Ginsburg, MBA
- 3. Professionally Managed Business President Financial Manager Operations Manager Warehouse Manager Worker Worker Worker Receptionist Repair/ Maintenance Ordering Sales/Mktg Manager Salesperson Salesperson Salesperson Marketing Assistant General Manager Lawyer
- 4. Survey of Organizational Growing Pains A B C D E Growing Pain To a very great extent To a great extent To some extent To a slight extent To a very slight extent 1 People feel that there are not enough hours in the day X 2 People spend too much time “putting out fires” X 3 Many people are not aware of what others are doing X 4 People lack a understanding of where the firm is headed X 5 There are not enough good managers X 6 People feel that “I have to do it myself if I want to get it done correctly X 7 Most people feel that the firm’s meetings are a waste of time X 8 When plans are made there is very little follow-up, so things just don’t get done X 9 Some people feel insecure about their place in the firm X 10 The firm has continued to grow in sales, but not in profits X Scoring 11 Add the total number of responses in each column 2 3 1 3 1 12 Multiply the number on line 11 by the number on line 12 and record the result on line 13 5 4 3 2 1 13 Result of line 11 times line 12 10 12 3 6 1 14 Add the numbers on line 13 in columns A-E and place the result on this line 32
- 5. Interpretation of Organizational Growing Pains Survey Scores Score Range Color Interpretation 10-14 Green Everything OK 15-19 Yellow Some things to watch 20-29 Orange Some areas need attention 30-39 Red Some very significant problems 40-50 Purple A potential crisis or turnaround situation
- 6. Top 5 Signs of Speedbumps 1. Revenue is fluctuating around a single point TIME REVENUE $3M $2.8M $3.2M
- 7. Top 5 Signs of Speedbumps 2. You spend all of your time “putting out fires”
- 8. Top 5 Signs of Speedbumps 3. There aren’t enough hours in the day, but you aren’t exactly sure what your employees (and you!) are doing every day
- 9. Top 5 Signs of Speedbumps 4. If you want something done, you have to do it yourself
- 10. Top 5 Signs of Speedbumps 5. When plans are made, they are seldom implemented
- 11. Speedbump Options Tipping Point TIME REVENUE Grow/ Professionalize Sell/Close/ Walk Away Downsize Do Nothing
- 12. Speedbump Options Grow/Professionalize Sell/Close/Walk Away Downsize Do Nothing Action You make the changes needed to get to the next level of business You realize that you don’t want to change, so you sell or walk away from your business You don’t want to make significant changes, so you downsize to a comfortable level You make no significant inroads in professionalizing your business What it Means You make a lot more money You get out of a business that’s driving you crazy You go back to a place in your business at which you were comfortable and stay there You don’t have to change the way you work Benefits It’s hard to grow up, and you will have to invest time, money and a lot of effort You may need to start another business or get a job to maintain income It’s hard to grow down, and you will likely have to lose employees and customers Running a business like this is a draining nightmare and will lead to burnout Drawbacks
- 13. Growing and Becoming a Professionally Managed Business Corporate Culture Management Systems Operational Systems Resources
- 14. Growing and Becoming a Professionally Managed Business 1. Acquire Resources – Financial – Human Capital – Physical Space – Equipment – Technology Corporate Culture Management Systems Operational Systems Resources
- 15. 2. Develop Operational Systems – Accounting/Billing/ Collections – Marketing/Sales – Hiring/Firing/Training – Research & Development – Production – Information Systems Corporate Culture Management Systems Resources Operational Systems Growing and Becoming a Professionally Managed Business
- 16. Growing and Becoming a Professionally Managed Business 3. Develop Managerial Systems – Planning System – Organizational Structure – Management Development – Performance Management – Production – Information Systems Corporate Culture Management Systems Resources Operational Systems
- 17. Growing and Becoming a Professionally Managed Business 4. Manage the Corporate Culture – Values – Beliefs – Norms Corporate Culture Management Systems Resources Operational Systems Keep it Entrepreneurial!
- 18. Virginia Ginsburg, MBA Tel: (310) 453-7008 Email: vginsburg@SwellStrategies.com
Editor's Notes
- Most entrepreneurs have either a sales or a technical background, or they know a particular industry well. Entrepreneurs typically want things done in their own way. Employees tend to rely on their bosses’ omnipotence and become less and less likely to be proactive because they know the entrepreneur will either do it himself or change his mind about what needs to be done.
- Most entrepreneurs have either a sales or a technical background, or they know a particular industry well. Entrepreneurs typically want things done in their own way. Employees tend to rely on their bosses’ omnipotence and become less and less likely to be proactive because they know the entrepreneur will either do it himself or change his mind about what needs to be done.
- Most entrepreneurs have either a sales or a technical background, or they know a particular industry well. Entrepreneurs typically want things done in their own way. Employees tend to rely on their bosses’ omnipotence and become less and less likely to be proactive because they know the entrepreneur will either do it himself or change his mind about what needs to be done.
- Most entrepreneurs have either a sales or a technical background, or they know a particular industry well. Entrepreneurs typically want things done in their own way. Employees tend to rely on their bosses’ omnipotence and become less and less likely to be proactive because they know the entrepreneur will either do it himself or change his mind about what needs to be done.
- Most entrepreneurs have either a sales or a technical background, or they know a particular industry well. Entrepreneurs typically want things done in their own way. Employees tend to rely on their bosses’ omnipotence and become less and less likely to be proactive because they know the entrepreneur will either do it himself or change his mind about what needs to be done.
- 10% is exogenous factors
- At this point, you can no longer infuse each one of your employees with your unique vision for the business – the culture will begin to develop automatically and without your conscious input unless you take action to control it.