Knowing the role of an entrepreneur in a business leads the way towards success, understanding the leadership and what is required is vital. Discover an unusually clever description of business and the role of an entrepreneur in this snippet from an interview between Dale Beaumont and Joseph Chou – CEO of Ironfish, an integrated financial services company, specialising in teaching others to create wealth.
You have an interesting way to describe business and the role an entrepreneur plays. Can you share that?
Running a business is like conducting a symphony orchestra. The entrepreneur is like the conductor – to put on a great performance the conductor must employ the best musicians and let them play the best symphony pieces. The musicians are like the team members of a company and the music score is like the system in a business. If you do not have the best players, you will not put on a great performance even though they may be playing a musical masterpiece. By the same token, if you do not have great music to play, you will not perform well even with the best musicians.
Some entrepreneurs think they are superior to everyone else, and therefore tend to hire people who are obedient and loyal, and/or people who are trustworthy, like family or friends. They are inclined to hire people that will worship them or their perceived success. While these entrepreneurs may experience some success, it will be difficult to sustain. An entrepreneur who thinks they are the best at everything is just like a conductor who thinks they’re the best violinist, the best viola player, the best cellist and the best drummer. Imagine a conductor who writes his own music, plays the first violin, the second violin, the viola, the cello, the trombone, the trumpet, the drum, and conducts all at the same time. What kind of symphony will he come up with? Some business people run their businesses like that.
In 2005, when I was speaking about business in China to a TV audience of millions, an individual from the live studio audience asked me, ‘How come I cannot hire good people? How come I am so tired?’ I asked him to tell me a little bit about his business. He said, ‘The problem with my business is that I am the person who brings in all the revenue. Everybody else spends it. All my people are very obedient. They do whatever I tell them to do…’ My advice to him? Fire the obedient people and hire some talented people. Even if they challenge your thinking, you will have a much better business.
For more on the Roles of an Entrepreneur and this interview check out “Secrets of Male Entrepreneurs Exposed!“