Throughout my continuing MBA studies, I have learnt that entrepreneurial leaders rarely achieve brilliance alone, but rather through committed and supportive team work , thus my goal of balancing personal urges for quiet solitude with interdependent social values is surely a step in the right direction.
Other weak areas include a lack of focus and being easily distracted, for example, starting things passionately and not following them through to completion. This unfortunate trait is accentuated by poor time management, procrastination and the general avoidance of organised detail.
Current Managerial and Leadership Standing
Knowing that I already have many of the interpersonal skills required to simply “get along” and work with people, I now focus on the so called “hard skills” which relate to the practical organization and managerial competencies I will need to become a successful entrepreneur.
My former profession as a web designer thrust me in the stereotypical “artsy fartsy” camp when I first experienced the corporate milieu, thus I was generally absolved of formal business meetings and left to my own creative devices. This view was particular to the era of the Nineties Internet Boom, where pure business types failed to appreciate the merits of design, usability and interactive customer experiences. Web design has come along way now, but at that time I had failed to appreciate the benefits of acquiring project management or team leading capabilities, and even after leaving the profession to start a Work Permit Consultancy, still did not have the need or opportunity for developing these competencies.
Having realised that entrepreneurial success is built upon inspiring, recruiting, building and leading management teams, I’ve had no alternative but to take a truly honest and hard look at my present abilities and skill gaps. Being predominately self-employed over the past few years, it was impossible for me to track down anyone I had previously worked with to objectively rate my “Managerial and Leadership Competencies”, thus I have resorted to personally identifying a number of key areas which I sincerely know need improvement.
The managerial competencies that should most be improved upon include;
(1) Compensating for Own Strengths and Shortcomings
The ability to seek out and find others whose strengths will compensate for my own weaknesses. Even though I have a strong entrepreneurial vision, I’m aware that I will make better decisions if I have a deeper appreciation of what I know and what I don’t know, and this will allow me to combat over confidence in certain areas, and particularly require the assistance of team players who will help me remain focused on the details.
Proposed Solution:
I will become more focused, therefore must develop a plan outlining the steps necessary and the milestones ahead that must be achieved if I am to get another business idea off the ground.
I will become more disciplined, which should begin with knowing when to work and when to rest or play, and not to rest when I should work or work when I should play. Though I have often lived life somewhat “sitting on the fence”, I must endeavour to conquer spontaneous fickleness and commit to a stricter schedule that prioritises eclectic study, business and leisure interests.
I will actively seek counter-arguments in regard to particular entrepreneurial ideas to explore them more thoroughly, and before I commit significant time or financial resources in trying to realise or escalate any commitments.
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I will locate a business mentor, to guide me in realising complex ideas. This will involve contacting government funded “business links” on the Gold Coast, and in attending local networking events, such as those held regularly at Delfin House in Varsity Lakes.
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I will also seek the advise of relevant lecturers in regard to starting a business venture on campus, which will allow me to practice team building and leading group work on a commercial project.
(2) Oral Presentation Skills and Self Confidence
To make clear and effective presentations, and gain lasting confidence in my communicative abilities and delivery skills. This comes down to the fact that I have only attempted public speaking while fulfilling course requirements at Bond. Though I’m not accustomed to chairing or presenting corporate meetings, residing in the UK for some 18 years has provided me with a “well spoken” accent that lends itself to ‘corporate’ style presentation.
Proposed Solution:
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Must ensure that I get involved in class presentations and practice speaking in front of people often as possible. I have seen a variety of books and videos in the Bond library about preparation and delivery techniques , which I will take out in week 8 and study.
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Get outside training in public speaking, and specifically there is a course run at a college opposite Robina train station, who I will contact in order to discover dates and times. I will also look into the organization “Toast Master” and see if there are local meetings held on the Gold Coast.
(3) Leadership within a Group and the Ability to Delegate Effectively
Coordinate the activities of multiple individuals in a group, and with the ability to delegate the right tasks, responsibilities, and amount of authority to the right people at the right time. Having been predominately a loner in the past, working autonomously in design and technical fields, with only minor team participation requirements, I have realised how I need to shift my values in order to ascend the “Leadership Pipeline”, that is from managing myself to managing others and onwards to managing managers. In the past I had felt akin to both the “Reluctant” and “Unknown” leader types, due to my cautious nature in developing networks and in maintaining relationships with others. Yet having matured over the past few years, I have begun to gravitate towards leadership roles due to a strong yearning for fearlessness and to achieve something greater with my life.
Proposed Solution:
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Accept more social invitations from students, which will increase my chances of meeting like-minded individuals. This will also allow me to practice pitching my venture ideas to others, and for proposing alliances or partnership opportunities with others.
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Revaluate my “framing” of others to ensure that I remain open and receptive to new ideas about people. Also, to write down the characteristics of venture partners that I’m looking for, what values, attitudes, motivations and skills they need for us to truly work together.
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My approach to finding business partners will also be further complemented by the study of recruiting and interviewing techniques, many of which I have located in the library already.
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To develop a sharper sense of meta-knowledge through soliciting accurate and timely feedback from others, especially from friends who know me well and will speak frankly. This will ensure that I am not over confident in lacking and inappropriate areas.
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At least once every semester host informal get-togethers at my home, which will allow me to develop stronger friendships with acquaintances. This increased sociability will help me become less grave, in that “all work and no play makes Jack a dull boy”.
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Read and study the following books, especially leadership and management wisdom from “Peter Drucker” who’s work I admire, as well as various autobiographies by inspiring entrepreneurs such as Richard Branson, Michael Dell, and Steve Jobs to name but a few.
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Research best practices about cutting edge companies, such as Sony, Macromedia, Cisco Systems, and discover the principles behind their consistent competitiveness and success.
(4) Time Management and Planning
The ability to use time efficiently, with the ability to effectively plan for meeting goals, objectives and deadlines. I am rather whimsical with time, and tend to run my affairs from my head so to speak, not really planning or sticking to anything in writing, and when I do, its usually a wasted planning exercise, similar to tidying ones room by pushing things around from one area to the next, but not accomplishing a well organised room.
Therefore I must also master the art of short, medium and long range planning to ensure that I steadily reach both my study goals and entrepreneurial objectives. This is critical if I am to make the most of my time at Bond, and for preparing an “exit strategy” from Bond.
Proposed Solution:
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Purchase a “Wall Planner” each semester, and break up my time by the hour. This is something I must stick to if I am to truly maximise my time left at Bond.
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Begin work immediately on a rough business plan, and describe my perceived opportunity in detail. Distil and crystallise apparent “castles in the sky” into achievable and realisable steps.
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And finally, to speak personally with senior library staff at Bond about my entrepreneurial information needs, and ask for assistance to discover much needed market research, as well as taking an “information search” tutorial at the beginning of next semester, which will provide me the skills necessary for properly utilising various databases myself.
CONCLUSION
I have found the entire “self-development” appraisal-exercise very informing and revealing, and the solutions I have outlined pertaining to the identified gaps will be resolutely worked on during the remaining year.
I have also listed in the APPENDIX a number of websites that I have discovered relating to furthering my entrepreneurial direction, which I will look into in more detail, as well as a variety of related books that will help me address many other weak areas.
I will endeavour to successfully carry out all of these plans during 2004 and into early 2005, and this will be both a personal test of my discipline and confirmation of my commitment.
APPENDIX
Personality Traits – IPIP-NEO
Extraversion 38 average
- Friendliness 38 average
- Gregariousness 29 average
- Assertiveness 60 average
- Activity Level 66 average
- Excitement Seeking 27 low
- Cheerfulness 38 low
Agreeableness 60 average
- Trust 60 average
- Morality 51 average
- Altruism 75 high
- Cooperation 26 low
- Modesty 55 average
- Sympathy 73 high
Conscientiousness 58 average
- Self Efficacy 52 average
- Orderliness 33 average
- Dutifulness 28 low
- Achievement Striving 56 average
- Self Discipline 47 average
Neuroticism 52 average
- Anxiety 54 average
- Anger 65 average
- Depression 30 low
- Self Consciousness 67 average
- Immoderation 77 high
- Vulnerability 38 average
Openness to Experience 75 high
- Imagination 81 high
- Artistic Interest 70 high
- Emotionality 65 average
- Adventurousness 80 high
- Intellect 70 high
- Liberalism 43 average
Web Links (to follow up)
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(Company Formation)
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(Queensland Business Licensing Service)
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(Government Grants)
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(Queensland Development)
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(Small Business)
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(Information Technology Online)
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(Building on IT Strengths)
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(Government Enterprise Initiatives)
Personal Book List (to read and study)
LEADERSHIP & MANAGEMENT
by Peter F. Drucker
by John K. Waters
ENTREPRENEURS
by Suzan Wilson; Library Binding
Losing my Virginity
By Richard Branson
by Steve Lohr
CUTTING EDGE COMPANIES
by Shu Shin Luh
By ,
PUBLIC SPEAKING
by Princeton Language Institute
by Lilly Walters
INTERVIEWING & RECRUITING:
by Martin Yate
by Paul Falcone
How Would You Move Mount Fuji? Microsoft's Cult - How the World's Smartest Company Selects the Most Creative Thinkers
by William Poundstone
TIME MANAGEMENT:
by Julie Morgenstern
by R. Alec MacKenzie, Alec MacKenzie
by Sunny Schlenger, Roberta Roesch
by Lee Silber
by Loren B. Belker