What is startup entrepreneurial management? Once a company enjoys the first signs of success, the founder-entrepreneur needs to raise the question “Where is my place?” and to consider it thoroughly. That’s exactly what did Soichiro Honda, the founder of “Honda Motor Company” after the defeat of Japan in World War II. He did not start the company until he had found
a reliable partner to manage the marketing, sales, personnel, finance and distribution. Honda discovered that his place was in engineering and manufacturing and he could not manage anything else. In 1903, Henry Ford did not started his entrepreneurship prior finding his partner to take over the areas where he didn’t feel confident – administration, finance, marketing, distribution, sales and personnel. The person he had chosen – James Couzens – contributed to the success of the company as much as Ford himself. A start-up company does not need board of directors. Moreover, a board of directors is often not able to provide the advice needed by the entrepreneur. But he needs quality people with whom to discuss the key decisions and to take advices from. Such people can rarely be found in the enterprise.
Someone has to challenge entrepreneurs’ assessments of company needs, about his strengths and weaknesses. Someone, who is not involved in the problem, should ask questions, should question the decisions taken and above all should insist on market orientation, the formation of a future management team and financial foresight.
That is startup entrepreneurial management in practice.