#AskPeshev 29: Entrepreneurial Mind, Entrepreneurial Spirit

#AskPeshev 29: Entrepreneurial Mind, Entrepreneurial Spirit

February 26, 2020

“Entrepreneurship is a way of life that should not be constricted to launching a business.”

— Mario Peshev

One of the funny aspects of being “in charge” is the pleasure of not being in charge every now and then.I truly enjoy attending group events with a mentor/leader taking responsibility, assigning financial work to my bookkeeping firm (or legal cases to our legal team), letting folks from the team decide what we’ll have for lunch or book venues for after-hour activities.The burden of making decisions and always facing complaints in larger groups gets overwhelming at a time -- and sitting on the other side of the table is refreshing.This is one of the reasons I really advocate about “intrapreneurship” - the art of being an in-house entrepreneur who operates within an organization. The trend of hiring intrapreneurs is growing slowly, but steadily, and consolidation of businesses aiming to acquire top leadership talent will be a leading force in this new decade (mark my words).Read up on management tips and my recap of entrepreneurship vs. intrapreneurship below - and do reply to this email if you want me to cover other business topics you’re passionate about.

As an individual contributor, you're responsible for your daily tasks and playing your part in the team's overall goals. When you move up to the manager level, you still have your day-to-day responsibilities—but suddenly, you've also become the go-to person when your team needs guidance and direction.

It's All About Reading...

Entrepreneurship isn’t a 9-to-5 job that comes with the comfort of family and friends time in the evenings, or traveling and watching TV over the weekends.It’s an effort that usually requires a massive commitment and a multidisciplinary approach for handling dozens of activities at the same time, from branding through technology to accounting...

The main reason internships are beneficial is the corporate experience. Colleges teach you some skills. These are often outdated or not really applicable in a real business context. While there are certain “team projects” every now and then, it’s nowhere near the actual scenario of participating in the production, planning, strategy, collaboration, and execution which you can...read more…

Entrepreneurship is hard. It eats up a ton of time and requires diverse expertise in a wide set of fields – from starting a business and product/business planning through sales and marketing, customer support and building partnerships, to legal and accounting challenges, hiring, scalability, growth planning.

Retaining young talent is a challenging activity for almost every organization out there.Considering how hard it is to find one, having one in a small team could be an extremely valuable asset.Give them ownership, let them make decisions (whenever the situation allows it) and mentor them through the journey.

Should senior management treat their employees as friends? This question concerns most of the managers who have just gotten their promotion. Being friends with your employees and staying objective is hard to achieve.It's highly dependent on the personality of the boss and the culture of the team.

I've discussed the pros and cons of SMBs vs. top multinational brands at multiple events and decided to break this down into a short ebook.