Entrepreneurs who are getting ready to start a corporation, will be faced with the task of balancing short- and long-term goals, which can leave business leaders feeling overwhelmed.
In an article for Forbes magazine, contributor Kate Beatty offers advice for how business owners can become strategic leaders. Entrepreneurs need to know how to position a business for the future while meeting current demands, such as filing incorporation forms, securing funding, hiring employees and building a client base.
It is important to consult the right people when building a business strategy and to ask the right questions. When faced with a challenge, entrepreneurs should meet with their leadership team and advisors and ask questions including: How does this challenge relate to other issues in the organization? Can the challenge be reframed and seen from another angle? What external data is important for an analysis of the challenge?
Business leaders also need to be able to take decisive action that is consistent with the strategic direction of the company. A plan does not mean much if not accompanied by tangible decisions and choices. The chosen action should manage the tension between succeeding in daily tasks and long-term success.
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