Many times when I ask people whether they know what the difference is between an entrepreneur and a leader they gave me almost the same answer. An entrepreneur owns his own business while a leader works in a high position in one of my companies.
For me this is not so clear and I am also not sure wether it is necessary for an entrepreneur to be a leader. I always create a bold line between an entrepreneur and a leader. I believe that not all entrepreneurs are designed to survive. I think the economic crisis clearly presented how easy it is to lose our businesses and fortunes, and I believe one of the reason why companies went bankrupt is because their leaders had no real life experience to survive.
RULE 1: Mistakes are good
I know from all my experiences that we all have fears when someone holds a mirror in front of us showing us our mistakes. And many of us feel that these are attacks and punches into our face. However presenting mistakes and giving additional ways to correct them is a great chance to improve our skills.
RULE 2: LifeStyle business stops you to grow
When I started my first company I was very motivated with it. It was my tool to gain whatever I want in my life. I worked ten-twelve hours per day in the beginning and I really enjoyed it. Not to mention that as you know success came very soon.
After three years I had my dream cars, a Range Rover and a Lotus and I really felt that I am alive. I am sure many of us knows as well how it feels to sign the first big contract, to receive the first million in our bank account or to be handled as a respected solution provider and a respected business owner in our community.
How ever it is not real anymore for me. In those time I had a â€œlifestyle” business.
Yes, â€œlifestyle” business because for me the definition of â€œlifestyle” business is when you are working hard, gaining the results that you want and providing a good environment for yourself. You get almost everything you want. Ergo you are able to create a nice lifestyle for yourself.
So this worked well in the first five years for me and I have to tell you that in those times I really enjoyed it. Then suddenly I realized that I am still working twelve hours every day in my office, sometimes even more. I also realized that my stress level has increased. I felt that I am working much more for the company than any other paid employee. This led me to the point that I hardly even saw my wife and I started to know my family only from pictures.
RULE 3: Stress distract your Focus
Many people said that successful people work more, but in my opinion this is not real. Successful people know something better, which I never did well before, but I am doing it now day by day. This is the art of delegation.
In the old times the man worked hard, he sent the money home and the family was happy. I think it is acceptable, specially when you have a very young child. However I wanted to be happy too. I wanted to gain things that I can enjoy too.
When you work hard, your family enjoys the result, however when you feel tired and overloaded then something is clearly wrong. I think when you work hard, your family is happy and if you are happy too then your life is on the right track. Working for others without enjoying your life is slavery. It does not help your life.
So I realized that I gave up my lifestyle business and I converted myself into an entrepreneur. Which by definition an entrepreneur is someone who is fighting with his competitors for his own survival. And this is where his challenges of life has been converted into daily problems, has increased his stress level and the endless business hours. In the meantime he is fighting for new income sources while he knows his family only by photos. All this causes a lot of stress and in most cases an early burn out.
I did not start business for this. I never wanted to fight for my own survival.
RULE 4: Find your Happiness in your work
On the other hand if I would describe a real visionary or a leader I would say they are very happy people with a lot of free time. They are able to focus on their hobbies as well, while they are earning incredible amounts of money and of course they can spend valuable time with their family.
RULE 5: Be smart in Delegation
What I realized is that successful people are able to delegate the biggest part of the tasks. They are able to approach people who are ready to help them to realize their aims. And this is when you will become a real leader and/or a business owner.
Because you as an owner you have the vision for your company. You had the guts to start to accomplish your aim. Therefore you have to lead your employees and you have to ensure them your knowledge and guidance to get the jobs done.
RULE 6: Focus on your Visions
All successful people are enjoying their businesses, they are happy because they are able to focus on their own aims and visions.
To learn to control you focus against all the influences and old routines you have is one of the most difficult task in our life. However to approach good and positive results you need to direct your mind to where you wanna go! And this is the key, to develop a team who is ready to make your delegated visions come true.
And you can ask where the hell are these super human employees? Just in front of you. Because it is all upon you. No one will find out your thoughts. You have to be there to let them know the right way and to guide them to the how. Because this will define wether you are an entrepreneur or a leader.
Originally published: Zsolt Szemerszky,