google-site-verification: google5ae98130f18ad244.html

Thursday, October 18, 2018
   
Text Size

Work Force Development

July 9 - The 3 Stages Of Evolution For Forward-Moving Entrepreneurs

Savannah Business Journal Staff Report

July 9, 2018 - Growing a business sometimes demands that the owner grow as well. The willingness and ability to evolve – in part by embracing change and creating it around them – is an important trait shared by successful entrepreneurs, experts say.

The trick is getting the employees to buy in to the changes and evolve themselves. And if that’s accomplished, then comes the third part in an entrepreneur’s evolutionary cycle – fostering growth for the company’s clients.

“True entrepreneurism means not only evolving as a company, but also helping clients evolve as well,” says Peter J. Strauss, an attorney, captive insurance manager and author of The Business Owner’s Definitive Guide to Captive Insurance Companies.

“Why would you not want to be the best version of yourself? Whether you’re talking about your own people in your company or your clients, there is this giant middle market that has no idea of their potential. They go to work each day just focused on what they do, but they don’t think about things that could help them better their businesses.”

Strauss reviews the three stages of entrepreneurial evolution, and how personal and team growth can inspire the same evolution within a client’s company:

  • Self-admission. “It starts with the owner or CEO’s willingness to fully commit to evolving,” Strauss says. “You have to evolve as an individual before your organization can evolve. The company leader must admit they need help with some areas in order to stay relevant and keep growing.”  Fully exploring the options to seek knowledge and advice on the right direction are crucial. “Eventually you have to trust the guidance you’re getting,” Strauss says.
  • Employee buy-in or push-back.  Here the tug-of-war with a company’s future often begins, Strauss says. “You need people on your team who have ambition to grow and want to be part of something bigger than their job definition or personal goals,” he says. “Individual rewards will come as the company prospers from the growth changes. But you do run the risk of losing your core group if they don’t believe in what you’re doing. Most people, even the ones who have been with you the longest, probably won’t like it because most people fear change. It’s a very dicey game to play, but it’s necessary and liberating once the process plays out. It’s classic pain before gain.”
  • Applying in-house and to clients. Once the owner knows he has the right people in place, including new hires, he or she has the management team push through the changes. “It doesn’t mean there’s a new sheriff in town, but a new way that’s going to make our company and everybody with it better if they don’t fight it,” Strauss says. “Then you’re able to walk the walk with your clients when you’re helping them evolve. You can provide them with things they can’t build themselves because it’s outside their scope and focus.”

“It’s important, when a business leader is evolving, to see others evolving around them,” Strauss says.  “We can do more for each other, and our clients ultimately can evolve like our business did.”

Peter J. Strauss (www.peterjstrauss.com) is an attorney, captive insurance manager and author of several books, including most recently The Business Owner’s Definitive Guide to Captive Insurance Companies. He is the founder and managing member of The Strauss Law Firm, LLC, on Hilton Head Island, S.C, and also the founder and CEO of Hamilton Captive Management, LLC. A graduate of the New England School of Law, he holds an LL.M. in estate planning from the University of Miami and speaks regularly at public seminars.

Comment (0) Hits: 517

Page 6 of 216

CLICK to SUBSCRIBE and Support Great Journalism!

Follow Us!

TwitterFacebook

Komento Activities

Guest - Maria Johnson Pleming - Commented on Oct. 25 - Department of Biolog... in Joomla Article
So happy to know the Millen Fish Hatchery will be recognized for the incredible system. Mr uncle Dav...
Guest - Karin Mcgruder - Commented on June 4 - Foram Group Announces... in Joomla Article
Are there any updates on this project?and when will the first apartments be available?
Guest - Hart Williford - Commented on June 28 - Savannah Music Festi... in Joomla Article
Rob will be missed by the entire Savannah Community, he built the Savannah Music Festival to worldwi...
Guest - Daryl Stair - Commented on Oct. 16 - Sonesta Resort Hilto... in Joomla Article
Do you have to be a paying guest to use the Tesla charger?
Guest - JR Lee - Commented on MPC approves plan for new Walm... in Joomla Article
Great, another complex to attract Savannah's finest entitlement minded individuals. Another complex ...
Guest - Jack - Commented on Aug. 23 - Phelps on Politics -... in Joomla Article
"Goose that laid the golden EYE? You're right, that is hard to argue with.
Guest - Robin Sherman - Commented on Jan. 4 – COMMENTARY: New Year... in Joomla Article
Excellent post, Ms. Phelps. Effective government can only occur when the public is informed. Transpa...
Guest - Tao of Me - Commented on Why is Memorial Hospital Being... in Joomla Article
They aren't telling Memorial employees anything about this. A recent survey of the facilities by Nic...
Guest - Genie Brazzeal - Commented on Feb. 24 – Lawyer and former Al... in Joomla Article
Thank you, Mr. Bordeaux! Bring some honesty to this court. No more winking like I experienced.
Guest - Karl - Commented on Feb. 25 - Memorial Hospital’s ... in Joomla Article
Good article. Has a lot of information that is very difficult for "team members"(employees) to find....
Guest - Susan Worthington - Commented on May 13 – UPDATED 11:39 a.m. HC... in Joomla Article
In 1953 there was not such a thing as a trauma or neonatal program. The need for Neonatal Services ...
Guest - Linda Dominy - Commented on June 8 – EDITORIAL: Immediate ... in Joomla Article
As a clinical team member this makes me sad and it would never happen. We can argue politics all day...
Guest - Judy - Commented on Savannah’s Title Max Bankruptc... in Joomla Article
How Tracy Young was allowed to file for bankruptcy or chapter 11 is amazing. Title Max should be ch...
Guest - Samantha Claar - Commented on Aug. 7 - COMMENTARY: Je suis “... in Joomla Article
Pertinent questions that deserve real answers. If upper management - appointed and elected - can't ...
Guest - Ken - Commented on Aug. 6 - Dept. of Labor propos... in Joomla Article
Is this state or federal?
MY ACCOUNT
CONTACT
SOCIAL
MORE
ADVERTISE
Coastal Empire News
Headquarters: 35 Barnard St., Suite 300, Savannah, GA. 31401.
Tel: 912-388-4692 | Hours: 8:30 a.m. to 5:00 p.m.