Don’t Bust a Gut Trying to Be an Entrepreneur – You Already Are One!
Sick of hearing about how you’re meant to have an entrepreneurial mindset? Learn why you’ve already got this in the bag!
Do you shudder when you hear the C-suite rattle off yet another #TEDtalk about entrepreneurship?
All too often management urges us to embrace an entrepreneurial mindset and push for revolution. ‘Be the face of change!’ they say. When are we meant to find the time to fit in a procurement revolution? In between reorganising an entire supply chain, or negotiating the biggest stock inventory refresh in the organisation’s history? Or how about in between the 12 hours of Zoom meetings? Seems impossible!
But when you scratch below the fancy catchphrases and look behind the TED Talk, you’ll discover that what is really at the core of entrepreneurship is not as exhausting as you think. In fact, many procurement professionals already have it in the bag! Want to find out how we do it? Read on!
What is entrepreneurship?
Entrepreneurship is defined by Investopedia as “…an individual who creates a new business, bearing most of the risks and enjoying most of the rewards….the entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures”.
Meanwhile, the Oxford Dictionary defines it as “a person who sets up a business or businesses, taking on financial risks in the hope of profit”.
If you pull your head up from the bland dictionary pages and begin to think of the common traits of an entrepreneur, you will most likely come up with descriptions like: risk-taking, innovative, new ideas, pushing boundaries, fast-paced, and an individual effort (rather than a team).
Phew! No wonder we get tired at the mere thought of embracing entrepreneurship! That sounds exhausting, doesn’t it?
While these definitions and connotations are true in some markets and situations, at the core of an entrepreneurial mindset is a willingness to embrace change along with a passion for innovation and creativity.
Lifting the hood of entrepreneurship
When you think about innovation and creativity, what kind of traits would someone need to have? You will probably come up with descriptions like:
- Passion and vision
- Motivation
- Thought leadership
- Ability to communicate ideas or sell their story
- Mobilise the right people to help
Hold up, doesn’t that also describe procurement? Yes it does.
It’s time to turn up the volume – on YOUR skill sets:
You can achieve an entrepreneurial mindset by turning up the following skills.
- Embrace change
The pandemic made us pause, take stock, and understand that nothing is certain or ever fully in our control. We need to start looking at the ways we pivoted during COVID-19 disruptions as a blueprint for the way forward. For example, are there any other weaknesses or dependencies in your supply chain? Have you spoken to your important delivery partners recently? How can you deliver innovation and encourage change to your wider network?
- Growth mindset
Having a growth mindset is a powerful tool to help maintain your positivity and creativity and it allows you to become the best version of your professional self. It’s not saying there will never be tough situations or stressful times, but it can help to learn to be your own ladder out of a black hole.
- Thought leadership
You don’t need to be a boss to be a leader. Leadership comes in all forms and is not reserved only for management. Ensure you stay sharp, focused and challenge the status quo. Begin your journey here.
- Relationship and stakeholder focus
Put people first. This includes your supply partners and networks. And by truly valuing and strengthening these relationships, you never know what’s next: innovation can often be triggered over a cup of coffee, and from the most unlikely sources. Stay active and ensure you understand the benefits of stakeholder and supplier engagement.
You’ve already got this!
None of these skills are requiring you to take big risks or step outside the box into the danger zone. You don’t need to create a new product category or chase an award winning innovation from a supplier. There is no need to create a new niche market or push for innovation for the sake of changing things up. All of the skills are already in the procurement pro toolbox, it’s just a matter of picking them up and making them shine!
Entrepreneurship is about having passion, selling your ideas, and not being afraid to do things differently.
So next time a suited up manager tries to give an inspiring TED Talk on entrepreneurship, how about you give it instead? Because you’ve already got this.
To read more about the entrepreneurial mindset in the supply chain, check out this article.
