True-spirited entrepreneurs like a take-charge culture

Posted: July 22, 2013 | Categories: Leadership, Management

If you are a successful entrepreneur, you probably like to hire “take-charge” people who own their actions and make good decisions.  The challenge is that this type is hard to find and also challenging to keep.  Why?  Because they want to be an entrepreneur.

A client of mine recently lamented that he was losing his best manager.   This fellow was ready to pull the trigger, and go out on his own.  He had given three years to the company and learned the fundamentals.  Now Rich has to hire a replacement.   Here’s the dilemma:  If we hire an entrepreneur-minded person, there is a good chance they will leave us after we have trained them.  Is there a conversation we can have up front that can align their expectations with ours?  I’ve known many who have such a conversation.  The outcome often is:  “OK. we will consider this an internship.  I will teach you all I know.  in return, I will draw heavily upon your leadership skills to make my business more profitable.  We agree to work together for at least three years.  At that point, you can evaluate your options, and we can decide what lies beyond that point.”  This is like a loan with a balloon payment due in three years.  We can re-finance, or pay off the loan and go elsewhere.  In the interim, the aspiring entrepreneur will gain invaluable training, and the company will benefit from exceptional talent and ability.

Many of you may be familiar with the Culver’s chain of restaurants.  A few years ago, I had the opportunity of having an extended conversation with the company’s founder, Craig Culver.  We were both at a banquet, and seated next to one another.  As you might expect, I asked him questions about how he got started.  One of the experiences he was proud of was working at McDonald’s.  He worked there a few years, and was soaking knowledge up like a sponge.  I ask him what the biggest benefit was working at McDonald’s.  He said, “I learned systems.  To grow a healthy restaurant business, you need to have systems.  McDonald’s does an outstanding job of this”

In our businesses, we occasionally run across folks like Craig Culver.  When we do, this is time to negotiate an agreement that is a big “win-win”.

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