It is a well-known fact that corporates and startups are not getting perfect employees. Even if they get employees, these employees lack an entrepreneurial mindset of turning an idea into action that involves creative thinking and problem-solving.
Anyone from any sector can have an entrepreneurial mindset. Today when we talk about business, people hardly want to be remembered as a boss. Everyone wants to run their business by being a leader. That is why they are more focused on nurturing their team members with an entrepreneurial mindset which ignites the fire of entrepreneurship inside them which results boost the company’s productivity.
After going through long management revolution, everyone is taking employees as assets and nurturing them for creating stable work culture inside the company. To ensure long-term viability and to survive companies need to adopt work culture where employees have an entrepreneurial mindset. This is where the concept of intrapreneurship develops, i.e. empowering staffs by all means from the power to make the decision and to feel as part of the company. To plan strategically and make decisions, employees must have an entrepreneurial mindset. Ultimately this mindset will help to achieve organizational goals.
There are a lot of benefits for a company when its employees carry entrepreneurial mindset. It fosters critical thinking among employees and carries enthusiastic and collaborative work mindset. Similarly, it increases ethos where employees feel that they are on purpose and makes them passionate about work. Entrepreneurial mindset results innovation with better engagement along with value creation inside the company. This increases productivity much more than the companies who follow old school management culture of ‘command and control’ because traditional organizational structures have adopted the system of encouraging their employees to answer the boss by limiting their thoughts inside a cubical. In contrast to such, the company where employees own entrepreneurial mindset search for better opportunities and in turn utilize these opportunities for the betterment of the organization.
Now the question arises, ‘How one can empower employees to have an entrepreneurial mindset?’
Seeking intraprenuers while hiring
While hiring someone it should be carefully observed if the person has an entrepreneurial mindset and if his/her goal aligns with the organizational goal. It is hard to get employees who are already intraprenuers and this is not a big deal because handful people come with inborn leadership qualities. If well coached and provided with resources anyone can develop skills and stand as an intraprenuer.
Motivating to boost performance
Motivation is one of the major factors to affect the productivity of the company. It helps to get the best out of the employees and acts as a major component for fostering entrepreneurial mindset. Incentive works as the best source of motivation for employees. The incentive contains rewards and recognition. It not only motivates the employees who get the incentive but also motivates other employees to work hard to get the incentives
Training and Mentoring
Training employees is not an expense at all. It is an investment with great ROI. Not only hiring a person who has a proper mindset and motivation is not enough but they also need to be trained and coached in a proper way. For instance, you can share your style of learning, the way you improved yourself and build the mindset. This will not only make them feel purposeful but will also be an example of leadership. Once your company gets profit you can send them to different trainings and seminars.
Empowering for better results
Just a simple example, think as an entrepreneur. How many times have you had made mistakes? and How many times have you failed and learned from your mistakes? These two questions raise different aspects and the space for mistakes is space for innovation.
Creating entrepreneurial mindset helps you create more money. It is the investment which comes out with amazing ROI. Once employees are even near to getting entrepreneurial mindset as an entrepreneur you don’t need to worry about managing them and taking care of miniatures. This saves your time, and this time can be utilized to come up with innovative ideas and expanding the business. These ideas prove to be beneficial for you as an entrepreneur as well as a company. So, stop being a boss and act as a leader!
By: Ajay Pandey