Entrepreneurship is NOT Leadership

In the world of business, we praise the great entrepreneurs and in politics we lookout for the great leaders. But they are not one and the same thing – are they?

We are seeing a fusing of the two distinct approaches coming together especially in the make-up of the incoming cabinet of President-elect Donald Trump. We have seen some quite amazing entrepreneurs who are lauded as standout leaders in their field, Steve Jobs, Jeff Bezos and many other tech titans come to mind.

But does the single-minded risk embracing approach lend itself to the world of politics where the priority is to serve and think about all your electorate and citizens.

Each time I have worked with an entrepreneur there’s always been a common denominator, some experience in their past has given them something to prove or someone to prove wrong. This can provide a super risk embracing drive and at times a huge chip on their shoulder. This isn’t to say it is a bad thing, but it can separate them from others around them.

When we all think of the word, ‘entrepreneur’ - success, wealth and status tends to come to mind. But when we talk about leadership, there’s so much more than just an individual’s amazing achievement and for some, fame.

Some years ago, I took part in the TV series, ‘Mind of a Millionaire’ with the BBC. At the time, they crudely defined entrepreneur, as a ‘self-made millionaire’. But what stood out was the findings of the survey they carried out. Out of the 62 million people in Britain at the time, 70,000 fitted into the bracket of a self-made millionaire. 41% of those were dyslexic, while 51% came from a deprived or dysfunctional background.

It’s initially staggering stats, but not at all that shocking when you give it some real thought. The individuals on the series felt like they must work harder than those around them, they have got to go the extra mile and prove to everyone around them that they will not be defined by what society says. It can be admirable and motivating - those with challenging backgrounds, or facing harsher obstacles feel they have nothing to lose and acquire the ability to take risks that their colleagues would never even consider.

The objective of Mind of a Millionaire was to try and shed light on the perennial question – are entrepreneurs born or made. From the likes of the billionaires Richard Branson, Tom Hunter and many others, there was something quite amazing about them and simultaneously, quite scary. They appeared to fear nothing and setbacks that might floor most, they were able to just brush off and dive back into the fray.

There is a lot to admire and be motivated by the actions and deeds of these entrepreneurs, but as I discovered working with some of them, they can be so single minded to the point of recklessness and at times without any care for others. The mega drive may not allow them to listen or appreciate the feelings of others, no matter how close they are to them.

The current quite outstanding role model entrepreneur is Elon Musk. He has become not just the most prominent global entrepreneur; he is also the wealthiest person in the world. That might have been his goal and target before, but it is not surprising that it is nowhere near enough for someone with his superpowers.

What generally comes with this inherent desire to prove everyone else wrong and be the best, is the quite desperate need for recognition. As we have recently experienced, nothing is out of his reach, and he will go to extraordinary lengths for both the audacious goal and the adoration of the crowds.

Like many entrepreneurs, Musk has experienced many failures, but his wins have been so large that he neglects the impact of how he has behaved. Its impossible not to admire his achievements but what should be an inspiring lesson can quickly turn into a dangerous position. With no boundaries and more glory available, and driving himself even further, controversy seemingly only fuels him to go further.

With the re-election of Donald Trump, we have seen a government fill up with like-minded entrepreneurs, tycoons and billionaires instead of leaders who want to shape the world for the benefit of others. It’s definitely not a team, but a group of relentless individuals who will stop at nothing to win and get their own way.

Some say that because so many more traditional politicians have failed in the recent past, its high time to try something different, and hey, these guys are super successful, why wouldn’t it work out?

Many of these appointees have had no previous interest in politics and have had zero experience of running government departments or handling complex federal budgets.

The by-products of some of this drive for success can become greed and selfishness. Musk and his ilk have quickly become driven by status – taking on roles that have life-changing impact and delicate decisions to be made. They have been thrust into politics with that same chip on their shoulder and mistakes they may have brushed off in the past could become very costly and dangerous.

For the many that support Musk’s journey and brush off any talk about his behaviour, we ask is he really a person you would want to be leading the nations efforts at any time?

Musk like many of the new appointees are a product of a dysfunctional background that they have used to push themselves to do the things others said they could not do. This provides them with the hero worship they so desperately pander to.

But there is a time and place for everything – Musk could be described as an impressive entrepreneur, albeit not a very moral one, but he is certainly not a leader. He utilised his digital presence to grow to heights not a lot of people can or ever will, but he has abandoned who he once was and what he believed in – he himself was once a democrat, but as he got older and wealthier, he remained in the mindset of proving everyone else wrong, and his journey is quickly becoming the most public and incredible ego trip in history.

Musk’s story is one full of lessons, both good and bad.

There is something great about seeing the success of an individual who was not dealt the ideal hand, but they played their cards well. What becomes even more laudable is the way they handle their personality and character despite the different social status they gain. It’s an extremely tough ask, no doubt, but it’s so much more appreciated when you remain true to yourself and what you believe in.

What makes a great leader different to an entrepreneur is their empathy and affinity to people, and that never ending desire to serve others. The best leaders have the best interests of their people in mind, and they see success as a joint effort – but success to them is not becoming a millionaire, it is usually much more than that. A leader who reminds themselves of where they come from, will never judge another person. The best leaders are self-aware and will not trade their honesty or generosity for selfish gain.

We have worked with countless leaders who wanted to give others something to belong to and someone to believe in. As a society, we need to look at each other in the same way a lot more often – your background doesn’t define you, and nor do your mistakes or challenges in front of you.

It cannot be said enough that a leader has a responsibility to think about more than just themselves.

There is nothing wrong with being an entrepreneur that earns a successful story and great wealth – but leadership is much more than that.

Today we must be so honest that it will make some feel uncomfortable. Denying reality means you’re either out of touch or afraid of the truth.

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Thought of the week:

No leadership is better than poor leadership

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Tips for becoming an A player:

• Acknowledge and praise those that deserve it
• Always give your team a powerful vision
• Be decisive but admit when you’re wrong
• Remain honest with your team
• Learn to adapt