The Entrepreneurial Manager Skills for managers of entrepreneurial ventures

The Entrepreneurial Manager

Skills for managers of entrepreneurial ventures

Skills for building an entrepreneurial culture

Interpersonal skills that involve the ability to• create a climate conducive to high performance• use a consensus approach to build a motivated

and committed team• understand relationships among tasks and

between leaders and followers• lead in situations as appropriate, e.g., supervise

and control activities of others through directions, suggestions, cajoling, etc.

Other management competencies

• Administration• Law and taxes• Marketing• Operations / production• Finance• Technical skillsBlue text represents team roles most of you will use for your planning

Administration

• Problem solving• Communications• Planning• Decision making• Project management• Negotiating• Managing outside professionals• Personnel administration

Law and taxes

• Corporate and securities law• Contract law• Laws relating to IP• Tax law• Real estate law• Bankruptcy lawYou will almost always hire outside counsel to perform these duties

Marketing

• Market research and evaluation• Marketing planning• Product pricing• Sales management• Direct selling• Service management• Distribution management• Product management• New product planning

Operations / production

• Manufacturing management• Inventory control• Cost analysis and control• Quality control• Production scheduling and flow• Purchasing• Job evaluation

Finance

• Raising capital• Managing cash flow• Credit and collections management• Short-term financing alternatives• Public and private equity offerings• Bookkeeping, accounting and control• Other specific skills, such as ability to – Read financial statements– Calculate break-even quantities

Technical skills

• Unique technical skills to a specific venture, such as– Product development and extensions– Technology development for licensing– IP development for competitive advantage