No one ever said it was easy being an entrepreneur. Whether you're in the early stages of your statrup, just secured funding for your startup or you are ready for product launch, there will always be those three components when you ask yourself if this whole entrepreneur thing is worth it. Instead of giving up and throwing-in the proverbial white towel, this forum will help in giving you all the motivation you need to achieve your result.
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6 Crucial Things to Do in Your First 100 Days in a New Leadership Role
We all rise up to new opportunities every single day, it could be in the form of new apportionment, new jobs or new business ideas. its pretty exciting to get something new but the problem is most of us are not fully equip or not in the right state of mind to perform well with this opportunities in place. Imagine lets say you are a well known financial expert who offers ideas to people and all of a sudden out of the blue you get an appointment to lead a big company because they trust your instinct just like we have seen with some Big fortune companies and their C.E.O.s. It will be great and you might think you have the proper technical know how to rule such a company but then running a company is not only about knowing how to give good predictions you also need to know how to manage your human resources, how to deal with competition among other things. Here are 6 crucial things to do in your first 100 days in a new leadership role, these things will help you to be fully equip with the right qualities to help you perform better. This post was partly written by Matt Cain of the Entrepreneur
The rate of change in technology is unmatched. Companies are constantly being funded, getting acquired and, unfortunately, going out of business. These dynamic conditions create both challenges and opportunities for leaders. Changing roles is becoming more frequent across industries. Being able to successfully transition into a new leadership position is a must-have skill for entrepreneurs and company leaders.
Whether joining a company during a turnaround or at a time of explosive growth, the first 100 days are a critical time to make a positive impression and lay a meaningful foundation for the future.
Here’s a six-step philosophy to help ensure a strong start in your new leadership role:
1.Listen and learn.
You were hired because you bring a lot to your new role and company. But, there’s so much to learn! And it’s incumbent upon you to create an environment that maximizes your ability to do so. Create as many opportunities as you can to meet, build rapport with and establish immediate connections with employees, customers and other key stakeholders. Ask what’s working, what’s not working, where they need help, what could be better about the company and what they’d do if they were you. And then listen. While many leaders are often prominent communicators, the importance of listening is often undervalued, overlooked and underused. This will greatly inform your strategic agenda, help you get to know your new team and give you a great sense of the existing culture, good and bad.
In my first 100 days, I committed myself to setting up at least 100 1:1’s and team meetings with employees of all levels, customers, investors, partners, vendors and analysts. I also set expectations on my first day that this was on my agenda so people were ready with their feedback -- and believe me, they were!
2.Over-communicate, connect, establish trust and open the “virtual door.”
Tell people what you are going to do, do it and tell them what you learned. Transparency, action and follow-up are key for building relationships and trust with both customers and employees. Be visible and be responsive. Ensure people know where to find you and that you are open to ideas, thoughts and feedback, good and bad.
While I’ve embraced the open-door policy by locating my desk in the same open environment as all employees, I’ve also pushed open the “virtual door” by communicating activities and progress early, and often to set a precedence for transparency. It’s critical for employees to consistently have a good level of visibility into where the company is thriving as well as areas that require improvement. It’s equally important that they have the confidence to voice their opinions.
3.Slow down to speed up.
As a leader, there are often expectations to deliver results immediately. While this can be true, it’s important to fight the temptation to jump into action. Slow the pace in the beginning and fully analyze what the current state of the business and opportunities. Leaders who take a more thoughtful approach in the beginning will see higher quality results in the long run, and will also have more organizational buy-in.
When I stepped into my role at Couchbase, there were a lot of projects underway. I intentionally put a few on hold to ensure they would align with our go-forward plans.
4.Establish a parallel plan for product and market learning.
Don’t exist within a bubble. New leaders must not only understand their company and products, but also the wider market landscape. Know your customers and understand what your competitors are doing.
While you have a lot to learn, the company must continue to perform. Don’t overburden your team with your personal education. Determine what you can do on your own to get up to speed. Test out your sales enablement training. Get your hands on as many analyst reports as possible. Review past board decks. Look through team presentations. There’s a lot of content out there, so take advantage of it.
5.Integrate into the cadence of company.
Understand how the company operates. It’s important to familiarize yourself with the pace and comfort level of the company’s and employees’ operations. As a new leader, if you enter a position and vastly redesign your employees’ roles and pace too quickly, they’re more likely to experience greater amounts of stress and new leader rejection. While innovation is important, understanding the pace at which change can effectively be implemented is essential.
I started with what is working for the company. If it isn’t broken, don’t fix it. I have not modified the setup for staff meetings, timing and cadence (though content changed immediately). The same held true for our sales forecasting process, at least for the first quarter. Results matter, so ensure your entry isn’t disrupting short-term execution.
6.React to mission critical situations.
Learning and building a foundation for the future is essential, but never forget that you have a company to run and that responsibility can be delegated. You must take action in critical situations, whether internal or external, that threaten the success and growth of your overall business. Issues will arise, whether it’s a big deal, a sudden change in the market or a sensitive employee issue. Be prepared to be flexible.
Being a young entrepreneur is difficult, no matter where
you are from. But in Africa, the challenges are often far more emphasised.
Resources, financing, mentorship and supporting services are even scarcer. Yet
despite this, the continent’s youth unemployment is higher than elsewhere,
and for many young Africans, entrepreneurship is less of a choice, and more of
a requisite for survival.
year the Anzisha Prize, Africa’s premier award for entrepreneurs between the
ages of 15-22, identified a handful of young entrepreneurs who are
making it in Africa. Here are some of their tips for success. 1. The most important step is the first one
Nteff Alain is the winner of the 2014 Anzisha Prize and is the entrepreneur
behind GiftedMom, an e-content platform for pregnant women.
says having an idea is easy, but turning it into reality is a whole different
story. The wall of challenges an entrepreneur faces can quickly de-motivate
someone from following through on their vision. …
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However, don’t be discouraged. If you believe in your business, passion will prevail. On average, 75 percent of small-business owners are confident in their company. And why shouldn’t they be? They’ve turned their passion into profit. Yet, keep in mind it’s important not to be overly confident. Instead, take things one step at a time. Typically, 20 percent of small businesses fail in their first year, 50 percent in their fifth year and 70 percent after a decade of being in business.
A number of factors play into a business’s closing, such as location, the current market, cash flow and more. The number of reason most small businesses fail is due to cash flow, and California cities such …
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Headlined by Bill gates, the Microsoft giant drew some of the biggest
names in technology together with more than 1,200 entrepreneurs from 170
countries, government leaders and Silicon Valley executives to Stanford
University to put a spotlight on expanding entrepreneurship around the globe.
From the start, the call was for championing entrepreneurship to help
reduce global tensions and demonstrate a different path for youth living in
We don't often enough
connect the bottom line to efforts to make a safer world. I applaud Gates
call to action for this next generation of entrepreneurs, and those in the
current generation, to support them.
Gates proposed that the young entrepreneurs focus on three
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Étienne Arnault was born on the 5th of March 1949. He is a
French business magnate, an investor, and an art collector. Arnault is
the chairman and Chief Executive Officer (CEO) of LVMH, the world's largest
luxury-goods company. He is the richest person in France and the fourth richest
person in the world according to Forbes magazine,
with a net worth of $75.5 billion, as of March 2018. EARLY LIFE After graduation, Arnault joined his father's company,
in 1971. In 1976, he convinced his father to liquidate the construction
division of the company for 40 million French francs and to change the focus of the company to real estate.
Using the name Férinel, the new company developed a specialty in holiday
accommodation. Named the Director of Company Development in 1974, he
became the CEO in 1977. In 1979, he succeeded his father as president of the
company. CAREER In 1984, with the help of Antoine Bernheim, a senior
partner of Lazard Frères, Arnault acquired the Financière A…
Mark Elliot Zuckerberg is an American computer
programmer and Internet entrepreneur. He is a co-founder of Facebook, and is currently its chairman and chief
executive officer. Zuckerberg
launched Facebook from his Harvard
University dormitory room on February 4, 2004 with college
roommates and fellow Harvard students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The group then introduced Facebook to other college
campuses. Facebook expanded rapidly, reaching one billion users by 2012. During
this time, Zuckerberg became involved in various legal disputes brought by his
friends and cofounders, who claimed they were due a share of the company based
upon their involvement during its development phase. Early
Life Mark Elliot Zuckerberg was born on May 14, 1984, and
grew up in the suburbs of New York, Dobbs Ferry. He was the second of four
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