Transitioning from Entrepreneur to Business Leader: What Steps Should You Take?

This article was authored by: Dalip Jaggi

Technology

If you’re an aspiring entrepreneur and have many years of experience under your belt, you no doubt have big goals you hope to achieve. Most entrepreneurs want to see their ideas turn into profitable ventures. And when the long hours, patience, and resilience finally pay off, it can be incredibly exciting to see a new business take shape.

However, getting to this stage doesn’t come without various challenges. One of these can be a lot harder than many even realize - transitioning from a solo entrepreneur to a team leader.

Even though many people think starting and running a business are the same thing, the reality is that there is a lot more responsibility and changes required to successfully transition between these two roles. However, by following certain steps, you can successfully navigate the process.

1. Create a Blueprint for Your Business

To become a successful business leader, you need a clear sense of direction. This is where a well-defined vision for your business comes into play. 

Think of this process as planning for a large construction or home remodeling project. First, you’ll need a detailed blueprint to help organize all necessary activities. But it’s important to remember that your business’s journey is unique to you, so there isn’t necessarily a pre-established template you’ll be using.

Just like in a remodeling project, you might focus on kitchen renovations or living space upgrades, the primary goals you have will dictate the structure of your blueprint. Your business should establish a set of core principles that reflect the kind of business you want to build. These are what will shape your company culture, attracting individuals who share your vision and values.

2. Bring in Qualified Talent

Making your business successful requires more than just some good ideas and a bit of hard work. You’ll also need the right people by your side to help you achieve business objectives. As your company expands, recruiting the right individuals becomes crucial for sustaining that growth.

When going through the recruitment processes, make sure you’re prioritizing candidates who not only have the required skills and experience but also align with your company culture as well. Building a team with complementary strengths and personalities creates a much more dynamic working atmosphere that everyone is excited to be a part of. 

3. Don’t Be Afraid to Delegate

Having multiple employees working for the business may seem like a lifeline for busy entrepreneurs, but when the time actually comes to hand off certain responsibilities, it can be easier said than done. Becoming a business leader requires a significant amount of time-management discipline. This can be difficult for some to adjust to, especially when they’re used to handling everything on their own. 

It's crucial to learn how to trust your team members and assign tasks based on their strengths and expertise. Delegation not only allows you to concentrate on strategic initiatives but also empowers your team, providing them with a sense of ownership and responsibility in the tasks they take on. 

4. Become a Great Communicator

Entrepreneurs are great multitaskers and are used to seeing things through on their own. However, when you run a business, strong communication skills are essential for leading a team successfully.

Implementing regular team meetings, individual check-ins, and an open-door policy is a great way to build a culture known for collaboration among employees. Investing in communication tools is also important, especially for remote teams working across different time zones. This ensures everyone stays connected while also improving productivity levels.

5. Establish the Right Working Atmosphere

A positive workplace is essential for attracting and retaining top talent. Being known as a business that ensures team members feel respected and appreciated for their contributions can bring a number of long-term benefits to the business. 

One way to do this is to focus on improving employee well-being by promoting a healthy work-life balance. This can be done by offering flexible work arrangements, wellness programs, or other unique perks that set your company apart from other brands.

6. Prioritize Employee Development

Giving your team more learning opportunities can help both their individual development and the organization as a whole. By providing financial resources to take business courses or get various certifications, you demonstrate a commitment to your employees' career advancement while equipping them with the skills and knowledge necessary to excel in their current roles.

Providing these opportunities helps establish a culture that thrives on innovation and adaptability. This will help your business confidently navigate the complexities of growth over time.

7. Learn from Other Successful Businesses

Starting your own business doesn't mean you need to have all the answers right away. Many other business owners have already walked the path of entrepreneurship, and you can benefit from their perspectives.

Reach out to seasoned business owners and mentors within your network. Connect with other professionals you meet at tradeshows or who are already connected with other contacts you have in the industry. In many cases, the knowledge and experience they have can offer you invaluable insights into your own business that will help you be more successful or avoid common pitfalls.

8. Never Forget to Celebrate Accomplishments

Building a business is a marathon, not a sprint. There will be different obstacles to get passed and you’ll no doubt have a balanced mix of successes and failures along the way. But it’s important to recognize and celebrate each of these wins you and your employees experience. 

By acknowledging milestones, no matter how incremental, you’ll boost team morale and give everyone a sense of shared accomplishment. This will only fuel the passion of your teams and increase the likelihood of seeing even more success as the company grows.

Put Your Business on the Path to Success

Growing a business isn't just about hard work - it's also about changing your perspective and being flexible. When you face new obstacles head-on, acknowledge your team's accomplishments, and constantly look for ways to become a better leader, you’ll put your business on the path to long-term success.

Author Bio:

Entrepreneur, technologist, and passionate business leader sum up the core of Dalip Jaggi, co-founder of Revive Real Estate, a PropTech company with a goal to democratize house flipping. Since its 2020 inception, Revive has since become the smartest solution for homeowners to maximize their home’s sales value across the nation.