1.5.6

Question 1

What are some key changes that happen when transitioning from an entrepreneur to a leader?

Answer 1

Strategic focus - leaders prioritise activities that drive sustainable growth and create value for the organisation

Delegation - delegating tasks to other employees within the business to allow the business to continue running efficiently

Decision making - making decisions that effect the business in a positive way

Team management and motivation - as the business grows leaders must build and manage larger teams to maximise productivity and be organised.

Question 2

Difficulties in developing from an entrepreneur to a leader

Answer 2

Relinquishing control - as the business grows it is difficult for the entrepreneur to manage every detail. Learning to delegate tasks and trust in team members becomes vital.

Developing leadership skills - leadership skills such as communication, delegation and conflict resolution takes time to learn and adapt.

Handling pressured situations- leaders may face pressure and be put in difficult situations. Learning to manage stress is important and can be hard to adapt to.

Question 3

How to overcome these difficulties

Answer 3

Self awareness and growth mindset

Leadership development

Delegate and empower others

Build a strong support network

Seek balance and well-being