The struggles from the start up phase to the transition and maturity stages can be formidable so much so that some firms simply don’t survive.
Sometimes business ownership is a baptism by fire. The perennial operational challenges — equipment breakdowns, bad weather, low pricing, employee conflicts, inability to make a payroll, lack of capital, poor performance, high costs, inadequate sales, diminishing market share, peaks and valleys of the business cycle — and outright disconnect are predictable, known. The challenge of business growth is a maze…ugh…it ain’t linear! At the center of this obstacle course is the entrepreneur who’s initial success depends on his or her limited expanse of charisma, individual skills, and most importantly time. There are just 24 hours in a day! The dilemma is how to translate and replicate personal charisma and unique talents, imbue values, and reproduce ideas to create a viable organization, company brand, and culture.
Everyone has the same 24 hours in a day.
Entrepreneurship and business ownership are lifelines for our economy and embody American ideals that we cherish! The entrepreneurial event that leads to business formation is frequently driven by layoffs, terminations, and downsizing; divorce; death of a spouse; or simply the proverbial glass ceiling. New business owners value their independence and control, the opportunity to offer a product or service to the competitive marketplace, and the potential to create wealth. Given these motivations and desired outcomes, it is not surprising that in the past 20 years, women have been leaders in new business start-ups.
But as liberating and rewarding as business ownership can be, it also can be a baptism by fire. The perennial operational challenges and even disconnect faced by start-ups and firms in transition can be daunting — employee conflicts, equipment breakdowns, the inability to make a payroll, inadequate sales, low pricing, and profitless growth. There is nothing glamorous about the difficult evolution of a new product or service from conception to revenues to profitability. Aside from the maze of ups and down which challenge all businesses, too frequently up and coming firms are positioned in structurally defective markets with inherently weak revenue streams that can’t support growth. This and other limitations mean that many emerging businesses fail to live up to their promise to create jobs, improve the standard of living in their communities, and ultimately change the landscape of our society.
At the center of this obstacle course is the entrepreneur whose initial success depends on his or her limited expanse of charisma, individual skills, and most importantly time. There are just 24 hours in a day! The dilemma is how to translate and replicate personal charisma and unique talents, imbue values, and reproduce ideas to create a viable organization, company brand, and culture.
The struggles from the start up phase to the transition and maturity stages can be formidable so much so that some firms simply don’t survive.
Sometimes business ownership is a baptism by fire. The perennial operational challenges — equipment breakdowns, bad weather, low pricing, employee conflicts, inability to make a payroll, lack of capital, poor performance, high costs, inadequate sales, diminishing market share, peaks and valleys of the business cycle — and outright disconnect are predictable, known. The challenge of business growth is a maze…ugh…it ain’t linear! At the center of this obstacle course is the entrepreneur who’s initial success depends on his or her limited expanse of charisma, individual skills, and most importantly time. There are just 24 hours in a day! The dilemma is how to translate and replicate personal charisma and unique talents, imbue values, and reproduce ideas to create a viable organization, company brand, and culture.
Everyone has the same 24 hours in a day.
The resolve for and resolution of going through the fire can only be achieved if the business owner knows who she is and can lead others. Easier said than done! In a capstone segment of the program, best-selling author of 11 books, educator, entrepreneur, and seminal authority on social emotional intelligence, Stedman Graham will present Identity Leadership. Graham has devoted 25 years to speaking and educating his audiences about the relationship between identity and leadership. Too many people allow themselves to be defined by others and are labeled by race, gender, family circumstances, and education. The crux of Graham’s identity development thesis is the principle that you are not your circumstances; you are your possibilities.
At Through the Fire to the Wealth, Graham will shatter the labels and the proverbial box. He will discuss how a clear methodology for identity development can positively impact an entrepreneur’s ability to navigate her own life, do the work well, and organize and lead others around a business mission. Graham’s Identity Leadership Nine Step Process is a life prescription that develops an individual’s capacity to become self-aware; self managed; self-empowered; internally motivated; and ready for change. As we become better managers and messengers of beliefs that shape our businesses—as we learn to lead ourselves—we can create innovative pathways to inspire and lead others.
Through the Fire to the Wealth is presented over three days in major cities throughout the country. Reservations for enrollment can be made by sponsors that desire to develop their minority and female supply chain partners or directly by business owners. Visit WCBentonAssociates.com for upcoming dates.
To introduce this powerful life-changing program to new markets, we will present Testimony: A Prelude to Through the Fire to the Wealth. Testimony, a symposium on personal development and management, is designed to prepare sponsors and their supply chain partners for the more in-depth TFTW series.