Entrepreneurs who have managed to successfully start a business that generates consistent cashflow and convert it into a business that has value outside of their own effort understand the true nature of power.
During the start-up phase, entrepreneurs tend to focus on control and end up being crucial in every detail of the operation of the business. During the growth phase this no longer works as the amount of detail is overwhelming. At this point an entrepreneur either stays small or learns to how to use power constructively.
In this sense, the definition of power is to created intended results through others. During the growth phase, the entrepreneur learns to become redundant in the operations of the business as they invest more energy in the design and leadership of the business system.
During start-up the business becomes successful because of the direct contributions of the entrepreneur. During growth if the entrepreneur learns to enjoy the process of indirect contribution, the business moves from a cashflow generating enterprise to a wealth generating enterprise. The business is worth something without the effort of the owners.
Tuesday, March 30, 2010
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