From An Entrepreneurship To A Professionally Managed Company. Now that you've had your business for awhile, are you the one to run it?

1. From An Entrepreneurship To A
Professionally Managed Company
Making The Transition
Jacqueline Collins, Principal |98 Temple Street, #2, | Abington, MA 02351 | 781.982.8812
jacollins@pfpconsult.com | www.pfpconsult.com

2. Making The Transition
Entrepreneur
A person who organizes, operates, and assumes the
risk for a business venture.
Entrepreneurs are catalysts for economic change,
and researchers argue that entrepreneurs are
highly creative individuals with a tendency to
imagine new solutions by finding opportunities
for profit or reward.
The term first appeared in the French Dictionary "Dictionnaire
Universel de Commerce" of Jacques des Bruslons published in 1723.

3. Making The Transition
An entrepreneur has a dream.
Skill, hard work, and luck turn that dream into a business
success.
 At some point, as the company grows and matures, the founder
faces a decision - should he/she continue to manage the company
or stay with the dream.
Should the founder continue with entrepreneurial management
or is it time to engage professional managers so the founder can
devote more time to the company's core idea?
It is a question that must continue to be faced as the company
continues to grow.

4. Making The Transition
In many cases, the decision hinges on the founder's
definition of success.
Does the founder want to grow the company into the
biggest enterprise in its industry?
Or would the founder rather limit growth to
something that provides simply a good income and
allows him/her to retain full control of the company
and its goals and direction?

5. Making The Transition
Is it time for you to make the transition
from the present entrepreneurial style to a
more professional style of management?

6. Making The Transition
“Growing Pains” typically indicate a need to:
Identify the direction the company should take in
the future – this involves determining who the
company is, where it’s going (goals and
objectives), and how it’s going to get there (action
steps).
Vision Mission
Core
Values

7. Making The Transition
“Growing Pains” typically indicate a need to:
Define organizational roles and responsibilities and the link
between roles – determine what “positions” are needed and develop
job descriptions for those positions;
Become profit oriented rather than strictly sales oriented;
Help employees plan and budget their time – teach them how to
set realistic financial and non-financial goals and how to develop
contingency plans;
Develop a business plan and a system for monitoring;
Increase the effectiveness of current managers and develop a pool
of qualified potential managers.

8. Making The Transition
Five Effective Growth Practices:
1. Effective Growth Planning – the development of an effective growth
planning process which delivers tangible strategies and tactics to
grow the business of which the leadership team is aligned with
2. Advanced Customer Management - providing customized solutions to
segmented customer groups through unique delivery channels
3. Robust Processes - defining and developing effective and efficient
core business processes
4. Differentiated Products and Services - providing superior, innovative
and differentiated products and services
5. Strong Core Values developing accepted fundamental
principals, standards or beliefs that bond and motivate the
organization.

9. Making The Transition
The four steps in developing your organization
are:
Assess the company’s current state of development
as an organization and its future development needs.
Design a program for the development of the
organization as a whole.
Implement the organizational development
program.
Monitor the program and make changes as needed.

10. Making The Transition
What is your definition of success?
What does it look like?
How does it feel?
What are consumers saying about you?