EFFECTIVE ENTREPRENEURIAL LEADERSHIP IS CHARACTERIZED BY THE CAPACITY TO PROVIDE OTHERS WITH POWER AND AUTHORSHIP AND TO CREATE A FRAMEWORK FOR THEM TO MONETARILY AND/OR EMOTIONALLY OWN WHAT THEY DO.
How to turn passion into practice, how to transform dreams into realities for himself or herself and everyone in the organisation, how to motivate everyone to practically and emotionally buy into the dream, and how to make the dream an aspect of everyone’s dream sums up the real challenge facing an entrepreneur in building a successful business. Entrepreneurial leadership must rise up to deal with the problems.
The attitude in any undertaking often predicts the outcome. Entrepreneurial capacity, the motivation and skill to take advantage of an opportunity, is crucial for starting a new company.
Passion is the core of entrepreneurship. Nothing could be more eye-catching than an entrepreneur with drive – the determined, optimistic, persistent desire to succeed at a chosen venture. Passion is not only joy and enthusiasm, but it is also the fervour born of a tireless pursuit of a worthy, challenging and elevating purpose. The late Michael Chowdry transformed his love for flying into a major entrepreneurial venture by founding Atlas Air in 1992.
Passion cannot be instilled or motivated into somebody. The freedom and opportunity to pursue one’s dream, to do what one loves, creates the right atmosphere for passion to emerge.
A feeling of ownership about what one is doing draws out real commitment. Our dreams are totally ours, and a glowing quality often characterises us when we talk about them. Our dreams get us through to our life purpose. The capacity to provide others with power and authorship and to create a framework for others to monetarily and/or emotionally own what they do hallmarks effective entrepreneurial leadership. He or she shares ownership and responsibility but holds on to the mighty purpose or vision. The responsibility to perform and to actualize the vision accompanies ownership. For people in an organisation to become part of something larger than themselves, and to secure to themselves the prospect of celebrating something remarkably accomplished, first, they must buy into the entrepreneur’s dream.
Great success stories share in common the feeling of accomplishment that comes with being part of a mighty purpose.