Using experience

One of the key drivers for an entrepreneurial business to gain success is to ensure experienced and knowledgeable people are in place in key decision making areas.

The entrepreneur does not possess all the skills unless he/she is a very rare person.

The entrepreneur must be honest enough with themselves to realise they do not know everything, particularly in the areas of developing a business. There is nothing better than having ‘done it all before’.

Appointing a ‘Chairman’ is a sound move at the appropriate time and for the right reasons.

The business needs to be sound and mature enough, it needs to have gone through and passed the initial stages. This can be measure in turnover, perhaps in excess of 35million, perhaps employing 50 people or more and facing the next round of financing. These are milestones which determine time for the entrepreneur to be away from the business when he/she were managing the business much more closer than at the outset of the journey.

The ’Chairman’ figure can provide very sound advice during this growth spurt.

Think; who can fulfil that role.