“80% of people who are pursuing a self-sustaining business (don’t fit) into the typical categories of tech startup or businessman/entrepreneur.” – Enoch Elwell, CEO CoStarters
“Entrepreneur” is an oft-used term to describe the leader, executive, or primary fundraiser standing at the front of a new or novel business.
The truth is, though, that so many of us who have started businesses over the years don’t come from a traditional business background. In fact, according to a recent study by CNBC, only 26% of independent business owners have a college degree of any kind.
This is due to a number of reasons, chief among them that creators of business are often passionate artists, filmmakers, musicians, chefs, media personalities, athletes, parents, students, or teachers first and foremost.
Their businesses are created as a by-product of their expertise and passion rather than training and education.
Regardless, entrepreneurs have a unique way of figuring their way through the mud of business growth and creating a company that provides real value to the market.
But what happens next?
So many entrepreneurs look up after years of pouring their life into a business only to realize they’ve squandered opportunity or mis-managed the resources they’ve handled. Worse yet, they may find themselves being forced out of the company they helped create to make room for an experienced executive that can grow the company further.
This is why the work Enoch and the folks at CoStarters are doing is so important.
Building systems for entrepreneurs on a local level to support their business aspirations and provide them with the infrastructure they need to succeed is crucial.
It’s also why we’ve built the mission of our company around coming alongside and training entrepreneurs and executives to be able to handle the long-term success that comes with scaling a business.
Your business is your creation. Here are three quick ideas to ensure you’re prepared to lead your company as it grows:
Continually evaluate and identify the communication methods and patterns that exist among your leadership team. The root of a vast majority of problems in business start here.
Be confident enough in your expertise and leadership to bring in niche industry experts to fill the gaps in your abilities. Choosing to grow your business by leveraging experienced partners is dramatically better than losing your business altogether.
Make the main thing the main thing. You created your business because of a unique blend of skill and talent that made you uniquely capable of what you’ve done. Double down on those efforts and leave the other portions of the business to folks who can support your vision.
We’re daily in awe of the entrepreneurs we have the privilege of serving and supporting through our business. Those who create companies and sustain themselves through business are some of the most fascinating people in the world. We’re proud to partner with the 80%.