Run with the Pack

Your service or product should always be your conversation. You are your biggest fan. Who knows the everything about it? Who knows how it can solve a problem they don’t even know they have yet? Who is the face of it? That person would be the creator. You gave birth to the creation, therefore you are not only marketing it, but you are marketing yourself as well. Investors are not just banking on the product; they are also banking on you. In his book, It’s a Jungle in There, Steven Schussler suggests that when you approach someone about partnering with you as an investor, they are considering several factors “You [the investor] would access the commercial value of the what the entrepreneur was proposing…; …be interested in that person’s commitment to her idea, her sense of dedication to what she was proposing, and the ‘sweat equity’ she was willing to invest in making her dream a reality.” (2010, pg. 110) The product or service is not on line, you are. Everything about you should sing and your passion should be oozing all over the place. Schussler believes, “By immersing yourself in your concept or idea certainly tells a potential investor you’re committed to achieving your objective.” (pg. 110) What is your presentation and is it a lasting one to compliment your next big thing.

Part of being a successful leader is the ability to move people to act. Peter Economy chose “inspire action” as his top choice in 7 Traits of Highly Effective Leaders. “Try to paint a vision of the future that inspires your people to do whatever it takes to get there. The best leaders also clear away the organizational roadblocks that constrain employees’ natural creativity and initiative, unleashing a tremendous amount of energy in the process.” Even though he is talking about leading a team, potential investors will become part of the team. You are an artist painting a detailed not abstract picture that inspires them to write a check or share some of their air. Also offering truths about your roadblocks could prove to be beneficial. The potential investors may offer solutions so that you do not have to reinvent any wheels. Building strategic partnerships allow you to “join forces” with a business or person that has already created value in a particular market. (Schussler, 2010, pg.103) Joining forces looks like “…strategic partnerships to facilitate the creation of a product or service, enhance its quality, and improve your profit margin at the same time.” (pg. 105)

You may have the lone wolf mentality when you step out in the venture, but running with a pack (successful business owners, executives or investors) can advance your dream into a bigger reality with a bigger payoff in the end.

Sources:

Economy, P. (2013). 7 Traits of Highly Effective Leaders. Retrieved November 20, 2016, from http://www.inc.com/peter-economy/7-traits-highly-effective-leaders.html

Schussler, Steven. (2010) It’s A Jungle In There. New York: Sterling Publishing Co. Inc.

3 thoughts on “Run with the Pack”

  1. As I thought about your reference to Peter Economy saying he chose “inspire action” as his top choice in 7 Traits of Highly Effective Leaders, a lot came into perspective for me. I was attracted to my mentors because they inspired me and all those that surrounded them with a type of empowerment that stimulated action. Great concept to describe what makes a person a leader!

  2. A great post and well-written too. For entrepreneurs it is easy to focus on being the top dog or the “lone wolf” and forget about the fact that you still depend on others to accomplish your goals. Depending on others is probably more integral to success as the head of a business than just being a staff member. And then there are the relationships to form with strategic partners. No one is an island as they say.

  3. Moving, motivating, and encouraging people into action are definitely qualities of good leadership. A tactic I have always used is to lead by example, sometimes without instruction, and just completing tasks in a timely and efficient manner to demonstrate that it can be done. Any way you can inspire people to come together and work as a team will prove to be enormously beneficial in running a business.

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