‘TO THINE OWN SELF BE TRUE”

I know a little business book published in 1987 that has stood the test of time. It is called the “New Venture Handbook” by Ronald Merrill and Henry Sedgwick. While it is directed toward people just starting their companies, I find that it can enlighten owners and entrepreneurs at any stage of their business life cycle.

One of their insights is the way they categorize owner ‘types’. Owners come in all shapes and sizes, complete with predispositions, strengths and weaknesses. The authors simplify this complex landscape and, in doing so, provide a way for owners to examine their own styles and understand the impact those have on the size and complexity of their businesses.

Their categories include, “The Classic” (i.e. close supervision and doing all of the critical jobs yourself); “The Coordinator” (i.e. an orchestra director); “The Craftsman” (i.e. doing everything yourself, even those you don’t like); “Team Management” (i.e. decision-making power is shared).

The type of leadership defines and sometimes limits the size and/or the complexity of the business. Clearly, the Craftsman’s company growth will be limited by the amount of production he can deliver and risks doing some of the necessary jobs poorly. The effective Team manager can produce more through others. However, too often entrepreneurs fail to make the transition from doing it all to successful team leadership.

The bottom line is to make sure that your style is consistent with the size, shape and complexity of the business you are building. If it is not, change your plan.

If you’re interested in knowing more, I recently found this book available on Amazon.com for 83 cents. What a deal!

The New Venture Handbook
Merrill and Sedgwick
ISBN-10: 0814476805
ISBN-13: 9780814476802
Publication: 1987

Cliff Allen, President, Allen Business Enterprises, LLC
www.allenbusinessenterprises.com