An interesting question came up the other day which warrants attention. The question was whether entrepreneurs should hire entrepreneurs. In thinking about how to answer this question, I started thinking about a book written by Michael Gerber entitled The eMyth.
In his book, Gerber discusses that an entrepreneur encompasses three roles: the technician, the manager, and the visionary. As a technician, the entrepreneur is able to perform the core tasks that the business performs such as baking a cake or coding software, etc.. As a manager, the entrepreneur is able to direct others in the organization to work effectively as a team. Finally, as a visionary, the entrepreneur is able to develop a picture of where the business should be in one, five, and ten plus years and plot the course to get there.
Gerber’s analysis sheds light on the question of whether an entrepreneur should hire an entrepreneur. In some respects, entrepreneurs should only hire technicians and managers. These people will enable the organization to perform the necessary tasks effectively and provide value to customers and shareholders. However, if the employees are not entrepreneurial, will they be able to come up with new ideas and better ways of doing business?
Conversely, entrepreneurs within an organization can be a threat. They may constantly come up with new ideas that prevent them from expertly completing the tasks at hand. These ideas may also cause other employees to lose focus on the current execution strategy. Likewise, the entrepreneur-employee may be prone to start a competing business in the future.
In summary, there seems to be no right or wrong answer to whether hiring entrepreneurs is good or bad. There are positive aspects to hiring entrepreneurs as they will come up with new ideas that could positively shape the business. Conversely, they could pose a threat. The key seems to be in the entrepreneur’s ability to effectively manage entrepreneur-employees. This can be accomplished via legal mechanisms (e.g., non-compete agreements), economic incentives (e.g., stock options, profit sharing) and constant monitoring and feedback.
Since its inception, Growthink Business Plan Development has developed over 350 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know.
For more information on this topic please visit http://www.growthink.com/businessplan/ or visit our venture capital placement site at Growthink Venture Capital.
One of the awesome services the Internet has brought to the consumer is the ability to book travel online. From hotels to car rentals to theme park tickets and more, you’ll find that there are dozens of opportunities as close as your keyboard. But before you take the steps to actually commit to those bookings, take a minute.
Identity theft has become even easier with the increase of online transactions. With that in mind, take time to verify some information before you go those final steps toward booking hotels for your trip. Don’t give out your credit card information until you’re certain that you’re working with a legitimate hotel company. If you have doubts, don’t give your number at all. Even if you’ve found a great deal, the cost could be incredibly high if you’re giving your credit card number or access to your bank account to unscrupulous people.
Be wary of any booking that requires immediate action. While it may be true that rooms are going fast, you do have time to verify the company, especially if it isn’t a well-known name that you already recognize.
Take time to check out the website’s privacy policy. If there isn’t one, carefully consider whether it’s safe to give out your information.
Before you book a hotel, make sure that you have the details of the transaction in writing. If this is to be a double room, non-smoking accommodations or anything specific, make sure that your receipt is going to say so. Ask about details of the rooms. Don’t assume that you’re going to be near the pool, near the parking lot or near anything else. You may be booking into the back corner of a mega-hotel.
If there are ratings or reviews of the hotel available, take time to read them. Before you just accept that this truly is a “five star hotel at one star prices,” evaluate the source. If the reviews are posted only on the company’s website, they have the opportunity to screen them. There won’t be any negative comments here.
Booking hotels online is fast, easy and can save you some serious money. But you have to be smart about it.
Jeff Lakie is the founder of Hotels Resources a website providing information on Hotels
There are some great credit card deals around at the moment and on the surface it would seem silly not to check them out. There are a few things however that you must bear in mind when doing your research.
Always check the small print, if you make an application to see if you can get a good deal you may have authorised a series of searches on your credit report. You must remember that a footprint will be left on your record for 12 months.
When you then see a better deal you may well be rejected. You see, a new lender will just see searches and they do not know why they are there. They may see this as evidence that you have been rejected, have too much credit that you cannot afford or you have been subjected to fraud
So bear this in mind and be careful. Get a quotation, rather than apply for credit as this should not show up on your record. If for some reason it does it will clearly show as a quote only and should not affect you chances of future credit.
Do not allow a full search until you until you are certain you have found the right deal. Sometimes this can be difficult if your credit history is less than perfect but a good broker should be able to point you in the right direction. A company cannot do a search without your permission.
Lets get back to credit cards again. We all do it. Zero balance for 6-9 months then move on. This should not matter too much with your credit rating as long as you make your payments on time and you cancel old cards (Don’t just cut them in half, you must tell the lender). If you don’t, you have access to too much credit. Other lenders may not like this. Also, don’t forget that lenders hope that you don’t change at the end of the term and pay the higher rate. How else do you think they make their money?
If you are worried that searches have damaged your credit rating, you can contact the credit agencies who hold your details. The main ones are experian and Equifax. You can get more details of these from my website. If there are any errors, there are ways that you can correct this.
Author: Colin Warburton CMap
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Colin Warburton is a qualified Mortgage broker (CMap) with a vast experience in difficult loans and mortgages, both personal and commercial. For more articles go to www.one-loans.com
