Entrepreneurial Leadership 101

Presented by Hatch: CUSA Entrepreneurship Centre

About Hatch ●  Build student businesses from the ground up

●  Resources, workshops and mentorships

●  Business model development

●  Annual cohort or student entrepreneurs

Goals for Today

Learn about the common team barriers and ways to overcome them

Discuss valuable leadership qualities among entrepreneurs

Discover how to play off your strengths and lead a team

What type of leadership qualities do you think entrepreneurs need to have? (Think of successful business owners for inspiration)

Top 10 Leadership Traits 1. Confidence - in yourself and your idea

2. Vision - long term vision with clear steps

3. Communication - to keep the team cohesive

4. Openness - to build trust

5. Transparency - to keep expectations clear

6. Delegation - you can’t do it all yourself

7. Patience - give your team time to grow

8. Decisiveness - be able to make the tough calls

9. Persistence - to overcome all the hurdles

10. Integrity - to inspire good work and high quality service

What are your top ten skills?

Take a minute to reflect on what you think are you most valuable strengths as a leader.

What would benefit your future business or team the most?

What capabilities or traits do you have that most others don’t?

We all have something unique to offer!

CU Apprentice

With the dreadful weather of the winter snow slush is an inevitable problem most Canadian consumers need to combat to avoid ruining their floors, destroying their shoes and getting wet feet. You’re tasked with coming up with the ultimate solution to end this misery.

Instructions ➔  Select Task Managers

Reflect on your leadership skills and personal expertise. Sell yourself for the task you want to lead!

➔  Utilize your leadership skills Play off of everyone’s strengths to come to quick decisions.

➔  Craft your pitch Figure out who will be your spokesperson/people and draw any visuals that would help explain your idea. Be sure to clearly articulate each element of your business tasks.

➔  Generate your idea Lead your team through a discuss of the major pain points and stimulate a brainstorming session.

➔  Determine your market Focus your teammates to nail down who would benefit the most from your idea? Is that market sustainable?

➔  Develop a plan Where or how are your going to sell your product? What’s your high-level strategy?

Tasks

Time’s up!

Let’s hear your pitches

What type of barriers did you come across during this exercise?

Common barriers to effective team leadership in new business development

●  Determining who would be best at what

task

●  Creative disagreements

●  Managing team expectations

●  Maintaining team motivation

Some strategies to overcome these barriers

●  Work on internal communication and be honest about your own skill set

●  Keep it professional and give and receive constructive feedback

●  Be clear about the goals of the venture, have regular progress updates and adjust your goals as necessary

●  Give everyone an tangible task or role they are accountable to

Main Takeaways!

There are different types of leaders - you have to play off your strengths

There are MANY challenges involved in leading a start up team many of which will be unpredictable, you need to be adaptable and anticipate change

Successful teammates trust each other, respect each other and are honest with each other.

Good communication is vital

Not every team will work perfectly, but you can’t do it alone!

Thank you for listening! hatchcusa.ca