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Can I be a Successful Businessman?

Do you dream of owning a Business?

Well many of us do or perhaps had thought of it once in a while. But what it takes to run a successful Business is it a great product or service or a good process? Is having a great idea enough or is it the execution that would matter or both?

As you are now trying to figure out the answer, I must tell you there is an entrepreneurial, managerial & technical quality in all of us only the proportion of it varies from person to person. Not all of us can be successful Businessman & nor should we be.

Then how do we decide to go along with this entrepreneurial journey or stay back? All this can be answered if we introspect ourselves & try to find out what combination of entrepreneurial mindset, managerial capabilities & technical skill we possess.

Let’s understand this different combination-

1. MET- The 50% Manager 30% Entrepreneur & 20% Technician

The Person who has managerial capability, he who drives the organization by standardizing the process & manages the people to get the work done. He is more interested in setting up a standard framework & pre-defined rule for doing things. He has in his mind few products or services as offerings. He will hire people more specifically the technician & get things done according to his set standard. He is not an expert technician himself & he will depend on the technical people to deliver. His Business although depends on technical people & there is a risk of those employee leaving the Organization but, his Business is well hedged as he has a well-defined process. He can easily put a new person in the standardized Process & get things going, as it was.

2. MTE- The 50% Manager 30% Technician & 20% Entrepreneur

The person who was a technician at first, later on, developed the managerial capability & learned the art of management. He, who has his style of doing things & getting the work done. He can come up with new ideas of doing the Job & re-define the existing process as well as challenge the existing Standard. When it comes to business, he doesn’t have the required entrepreneurial spark. He might be creative & has some ideas for a product or service. But, has no clarity or any will to execute it. He can at best work for an organization & be a navigator to its success. He can deliver a proven process & at the same time make the people under him follow the standard set by him.

3. TME- The 50% Technician 30% Manager & 20% Entrepreneur

A Technician who is good at work understands the technical aspect of his work & is a genius at what he does. He can manage his work & can deliver the work given to him with utmost perfection. He is best suited for the Organization as he is disciplined & is likely to follow the set standard guidelines & deliver them with utmost perfection.

4. TEM- The 50% Technician 30% Entrepreneur & 20% Manager

He is a Technician who is an aspiring Entrepreneur, he brings creativity in his workplace but, he needs guidance to execute it. He will come up with ideas & try to turn it into reality. He is an ice-breaker & can act as a boon for the Organization. The Business should appreciate his free spirit & try to harness the potential he has, in the maximum possible way. When it comes to Business, he like challenges, he likes to solve problems, he likes to see his ideas turn into reality. But he lacks the managerial skills to run his business. If, he wants to be a successful Businessman he needs to upgrade his managerial skills.

5. ETM- The 50% Entrepreneur 30% Technician & 20% Manager

He is a Technician turned Entrepreneur, he is likely to struggle with managing the Business, he has a creative mind but, lacks in the process of execution. He is a product or service-oriented person rather than a process-oriented person. His Business is defined by him & the success or failure of his Business largely depends on him.

6. EMT- The 50% Entrepreneur 30% Manager & 20% Technician

He is a person who is creative in his approach. He knows how to manage the Business viz. he can execute his ideas & at the same time he can manage people. He standardizes his business, its processes so, that his business can run without him & he can free himself up for the creative work. He can borrow the required space for his mind to think & come up with new ideas, rather than making himself burdened with the day to day operation. As he has already set the framework & defined the standard the people in his business must follow, his Business is no longer dependent neither on him nor the people in his Business.

Conclusion:

From the above combination, we can understand that the MET & EMT makes the best when it comes to Business, the ETM & TEM are the struggling Businesses who should develop the managerial skills to be successful. The MTE & TME are the best people whom organizations can hire, they are the people who have the right skill-set to drive the Organization in the path of success.

If you have enjoyed reading this article, please leave your comment below.

Thanks in Advance :)

 

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