Leadership Challenges in Entrepreneurship Essay Example

Leadership is very key in entrepreneurship. It makes work easier and helps to bring order to different organizations and businesses. Without leadership and organization can give in to competition and lack of order. Leadership in businesses can be a nightmare because of different challenges. A leader has to be aware of the challenges that his organization is undergoing and know how to overcome them. It can make the production of a particular organization easier. Identifying problems in a company early enough can make work at the business to be simple and manageable. It will make the manager a success at the business that they are handling. Some of the leadership challenges that lead to failure of entrepreneurship are mistakes during recruitment, shortage of expansion capital, politics in the business, and lack of strategy, among others.

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Many business leaders get it wrong with the recruitment process. An effective leader has to make sure that he/she brings efficient employees. Lidow argues that hiring unqualified people can be a major challenge because it can hinder production (Lidow, 2014). It can also make a company give in to competition from other companies. Having employees who do not support the objectives of a company can make a company experience loses or die altogether. Successful companies have committed employees.

A business might sometime lack the capital to grow or expand. A leader has to be creative enough to have a great plan of increasing income. When this is done capital will not lack for expansion. The leadership of such a company must also consider cutting on unnecessary spending to have more money to spend. Also, leaders who cannot balance their friendship at work have problems. Business leaders sometimes find it challenging to balance between being friendly to their employees and being authoritative when needed. Leaders should have the necessary command when he/she knows that the decision made will benefit the company (Lidow, 2014).

Politics at work can lead to sabotaging of the decisions of a leader. When the directives of a business leader have been undermined, the employees won't commit to their responsibilities because they shall have lost confidence in the leadership. Businesses die when in such positions because of low performance from the organization staff (Glodberg, 2008). Therefore, leaders in business places must learn how to control politics in the place of work.

Similarly, when leaders lack the required expertise to come up with new ideas of propelling a company to the next level, businesses suffer. Such circumstances can also lead to business leaders undergoing sabotage because the employees will lack confidence in the direction that their leader will be taking. Leaders will have to engage other professionals including the employees in coming up with ideas to improve the productivity of a company.

Conclusion

Competition is the primary challenge for many businesses (Goldberg, 2008). It is so healthy, but if a leader does not know how to handle competition can bring down the leader and the organization as well. Being competitive requires impressive strategies that can propel a company to the next level.

Therefore, businesses require leaders who understand the challenges that the companies that they're heading are undergoing. They must also understand their strengths and weaknesses. By acknowledging the challenges, leaders can find solutions. This helps so much in making good decisions and improving oneself as a leader. It also makes one a good leader who understands his business partners. Good leadership translates to a successful business.

References

Goldberg, D. (2008). The Entrepreneur guide to successful leadership. Praeger

Lidow, D. (2014). Startup leadership: how savvy entrepreneurs turn their ideas into successful enterprises. John Wiley & Sons.