Some entrepreneurs realize very early where their heart lies – they know whether they want to be a single venture, portfolio, or serial entrepreneur. However, even within an individual venture, there are various roles that the entrepreneur needs to engage in at different points in time. It is important to realize and acknowledge the differences the role demands as they build their venture.
It is useful to take a cricket analogy and put three roles from the perspective of team batting. We could imagine three broad roles in – the openers, the middle-order batsmen, and the finishers. As openers, the task is to understand the pitch you are playing in, handle the tough conditions, and provide the platform for the subsequent players to pose a strong total to defend against. As a middle-order batsman, you want to continue the momentum gathered, handle the storm if there is a failure of the openers, and give the necessary stability as the innings get built. Controlling the pace of the game is an essential role to be played here. As a finisher, you are expected to accelerate the scoring rate, pile up as many runs moving past the expected outcome, and create a stronger point of advantage.
Even in the entrepreneurial journey, you want to kick start the engine that would drive your business. Study the industry, identify the customer patterns on which you can build your business. As a middle-order batsman, you want to think of getting your product and production in place appropriately to be able to capitalize on the promise that was shown initially as the opener. Once you have a predictable process in place, you’ve got to scale rapidly and ensure that your growth rates are robust and beating expectations. The middle orders work to ensure there is an accumulation of resources which could push the finishers to go for a full assault.
Understanding that there are different roles and that these roles would have to change for the same individual as they move through the journey of the single venture makes one prepare for the transitions. Active management of the transition is essential to build a single venture that you envision.
Ask yourself:
What is the role I need to play now – an opener, a middle-order batsman, or a finisher?
Have I built the necessary base for the next role to take over?
What are the parameters I should watch out for to make this shift smooth? How do I prepare for these transitions in roles? Do I know someone who could guide me through these transitions?
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