In order for an entrepreneur to be in business, it requires certain courage, strength of character, conviction and perseverance. As a business emerges, every day presents an obstacle or challenge, depending upon your perspective. Entrepreneurs almost never view these situations as obstacles, but rather as challenges that drive them to find new and innovative solutions.
Does this mean that they go it alone? Not by a long shot. The best entrepreneurs, who I have had the pleasure of working with in my experience in representing companies over my 38 year career, know how to take advantage of good advice from their various advisors. They realize that no one person has all the answers and that many people have expertise in a particular area that they don’t have.
Instead, the entrepreneur is a big picture person without being invested in his own ego, so he is positioned to listen and then sort through the counsel given by his team of managers, board of directors, and key employees.
The one characteristic that shines through about all good entrepreneurs is that they are able to assimilate the advice they solicit and don’t shy away from making the ultimate decision. The entrepreneur has a keen sense of what is best under the circumstances. It is this ability to weigh the alternatives and take decisive action on how to proceed that defines him as an entrepreneur. This is the real expertise of any great leader/entrepreneur, this is what separates them from the pack, and this is why they are referred to as “leaders”. Ultimately they realize that decisions have to be made and they possess the courage not only to make them, but also stand behind them. Yes, they are accountable for their decision making, and never shrink from that responsibility. They realize, as we have heard from many great leaders in all walks of life, that the “buck stop here”.