By Peter M. Cleveland
Here's a grasp plan for leaders who need to know the dynamic, confirmed suggestions any company leader-from the fruit stand proprietor to the Fortune 500 chairman-must use to construct a profitable entrepreneurial company
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Additional info for 50 Steps to Business Success: Entrepreneurial Leadership in Manageable Bites
In the end, leaders with more focused goals generally enjoy greater success. Let's look to Pot Kiln Ltd. for our case study on point. Pot Kiln Ltd. was incorporated in 1983 by three women whose children had grown up and left home. Lisa Moll, Beth Shale, and Irma Cummings each wanted to put their pottery-making skills to a test and use their newfound freedom to become entrepreneurs. Lisa is the financial manager, Beth creates new designs, and Irma is responsible for production. Each year they prepare a business plan, which becomes Lisa's agenda for monthly informal management meetings.
These businesses do not fulfill their potential. Leaders with risk scores higher than 10 are many times more likely to lose because they gamble. A couple of examples will illustrate both ends of the scale. First, let's look at Aquabar Inc. and its conservative principal John Lavender. John started commercial welding in 1967 with $50,000 capital, a $100,000 loan from his brother, and a bank line of credit for a similar 14 Peter M. Cleveland amount. Four entrepreneurs earned a living during the first five years.
Skills not available in-house are acquired or existing people are trained. Skill and employee competence levels are an integral part of any corporate planning process.
50 Steps to Business Success: Entrepreneurial Leadership in Manageable Bites by Peter M. Cleveland