Most entrepreneurs share a similar personality type. They are generally self-starters, results oriented, have a high sense of urgency, and are a risk taker. They also challenge status quo/the world around them, usually communicate directly and to the point, and have difficulty delegating authority.
It’s not surprising that a study of 227 finalists for an Ernst and Young Entrepreneur of the Year Award showed more than 80% of them shared a similar Predictive Index (PI) pattern encompassing those characteristics. It takes a strong personality with conviction and resourcefulness to sow the seeds of starting a new business and managing it effectively through its infancy and initial growth.
But, as the company grows and matures, so too must the management style and approach of its founder. The very characteristics that propel successful entrepreneurs to launch a new business may actually inhibit organizational growth over time. There is only so much one man or woman can do when there are few, if any, decisions being made that he or she is not intimately involved with.
At some point, every entrepreneur must be willing to let go of the reigns they are comfortable holding onto so tightly and share the responsibility and authority for managing. But that transition may not be easy to achieve. It requires an acknowledgment of that need, which many times can be obscured by the strong personality of the entrepreneur; a clear definition of the vision and mission articulated for all to understand; and the identification and development of potential leaders best found from the talent pool within.
Predictive Index® (PI®) can be an extremely effective tool for assessing talent, identifying leaders and bringing out the best in your people. Organizations, like living organisms, must adapt and change as they grow to meet the challenges they must overcome to assure continued success. MCG Partners offers the tools and experience to help you along that journey.
About MCG Partners
MCG Partners a woman-owned, Greater Boston-based consultancy specializing in executive coaching, leadership development, talent management, and organizational development solutions. We help businesses optimize success through the entire management life-cycle. MCG Partners is also a Predictive Index® (PI®) certified partner.