For most small and medium-sized enterprises (SMEs), governance is something far away. In other words, measures of good governance are not yet part of daily practice. Particularly explosive growth and/or external demands, for example from an external financier, have changed this to date. Especially to make the likelihood and impact of risks manageable. Oddly enough, because fundamentally every entrepreneur wants to be successful and certainly not fail. Thus, corporate governance aimed at SMEs is actually relevant for every entrepreneur: it is about having control over realizing entrepreneurial ambition. And there's quite a lot involved. Therefore, we will be paying ample attention to this unexplored area in the world of the entrepreneur in the coming period.
Today, Route ICR shares the fourteenth article from the series 'How to practically implement SME governance'.
Acceptance Helps Ambitious Entrepreneurs Step Out of Their ‘Comfort Zone’
Amsterdam, February 7, 2022 - Entrepreneurship is simple. But the hardest part is to keep it simple. But why is that? Let's discuss this in the coming period and also look at how this problem can be solved. Today, Route ICR shares the fourteenth article from the series 'Implementing SME Governance in Practice'.
Entrepreneurs often have plenty of great ideas. Fortunately! But, unfortunately, this often leads to a lack of focus. This happens because they immediately start working on these new ideas, mainly because entrepreneurs are restless. They do not patiently wait for the results of earlier ideas. Entrepreneurs often feel that it takes too long to achieve success. This restlessness forms their 'comfort zone' at the same time, which is quite contradictory. To create calmness and be successful, you need to have a clear goal and a targeted plan to work towards it. If you constantly change your goals, your planned route will no longer work. If you're truly ambitious, you must step out of your 'comfort zone'. But how do you tackle this mental challenge?
Discipline and Focus through Shareable Goals and Plans
"Entrepreneurs need the discipline to stick to and focus on the set course to achieve their goals. If this is not explicitly established, the temptation is great to deviate from it. If the goal and plan are explicitly established, it is much easier to stay on track. This applies to you as an entrepreneur, but also to your team of employees. Even more so, because you have made your goals and plan shareable, it has a self-cleansing effect. From this starting point, you will first have to convince yourself and others of your impulsive actions. And this barrier helps you stay focused on your initial goals." [Paul Joore, 2022]
Stubbornness is Fine as Long as it Leads to Top Performances
Being stubborn is fine as long as it leads to top performances. Therefore, you must be willing to make yourself vulnerable and accept that you can't do (or know) everything yourself. With this mindset, you open the door to valuable input from others. And that will help you make significant progress. It leads to improvements in setting clear goals, in making plans, and in the performance delivered to achieve these goals. Be sure to use a tool, like the Route ICR web application, which helps you maintain discipline and focus and work together with your colleagues on highly developed team intuition. So, accept, be vulnerable and implement SME governance. To be successful as an entrepreneur, team, and organization!