Entrepreneurship – The Balance Between Self-sufficiency and Interdependence

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Last week I was featured in a weekly column by Mildred L. Culp, a Syndicated Columnist with the Knoxville News Sentinel. This series, called “THE RIDE” ™ captures the entrepreneurial experience and spirit. (Link to the story I was featured in.) The title of this particular column was “THE RIDE: Entrepreneurs enhance self-sufficiency”

Mildred L. Culp

In the article, both of us entrepreneurs who were interviewed spoke about the need to be self-sufficient. Often as an entrepreneur, I need to do many different things myself as I keep personally motivated to do all that is necessary for my business to succeed. But in the article, I was quoted by saying, “Independent spirit can be a negative thing if taken too far.”

Now I want to expand on this quote. There is a balance between being self-sufficient and also realizing there are many resources out there I can call upon to help me succeed. Even though I need to take ownership over every aspect of my business and be self-sufficient, that does not mean “going it alone.” The wise entrepreneur knows how and when to call on various available resources.

Here are some examples of how I have been using resources to help me succeed:

First, I am involved with several organizations pertinent to my business for networking and resources. Being in the diversity and career management space I joined and regularly participate in the Raleigh-Wake HR Management Association, the Triangle Society of Human Resource Management, the Triangle Organizational Development Network, and the National Gay and Lesbian Chamber of Commerce.

Second, I availed myself of excellent small business coaching. Both my initial coach during start up, Vickie Bevenour of RDW Group, Inc. and then Nancy Heller of Right Management, have been invaluable with expert advice, encouragement and inspiration.

Third, I have spent time with experienced and seasoned colleagues who helped show me the ropes and supplied sage advice. Both Val Boston of Boston and Associates and Al and Keith Toney of AK Consulting Services are successful long-time consultants in the diversity space who have provided great guidance along the way. Sharon Hill of Sharon Hill International discusses speaking dynamics with me as well as encouraging me with her infectious super-positive spirit. And Katie Gailes of Smart Moves International and I have had mutual accountability meetings, and she gives me creative marketing and sales ideas.

Fourth, paid or contracted resources can provide excellent direction. My IT / website / video contractor Jim Manchester of IYI Creative Services has given me some stellar creative ideas as we constructed my website, and Lorana Price of Holy Cow Branding provided expert services to help with my initial launch and logo development.

And finally as a small consultancy, I know that partnering with other consulting firms is desirable. I may need to find partners when I find a piece of work too large for me or if I do not have all the expertise. Likewise, I hope other consultants will reach out to me when my specific expertise may be beneficial for one of their engagements.

Yes, entrepreneurs need to be self-sufficient, but that must be balanced by knowing how to use the myriad of available great resources.

Investing in Employees Part 2 – The Specialist and the Generalist

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In the first part of this blog series (link) last week, I examined the question of whether corporations should consider their employees a short term expenditure or a long term investment. I argued that even though some portion of employees may only be engaged in the short term for peak periods or special projects, companies do need to invest in part of their workforce as long terms partners who understand the business, the market and the customers.

Another dynamic in the employee investment space is the question of nurturing specialists and / or generalists. A specialist is an employee who develops a very deep expertise in one function of the business such as manufacturing, finance, human resource management, or sales support. A generalist, on the other hand, may spend time in several functions within the business and gets a broad understanding of how all the parts of the company come together.

So how does an individual determine if they should become a specialist or generalist? And should a company promote career growth in one or other of these areas over the other?

First, how does one make this choice? Really it should depend on what the employee themselves desires and where their talents lie. Some people love to develop outstanding depth in one area and become a subject matter expert. They love being deep in one area and becoming the “go to” person within the enterprise to help others and enjoy sharing their knowledge. Other people get bored after three or four years in one area. They get restless, yearning to learn and try new things. They enjoy seeing different areas of the business and how the pieces come together. Each person needs to determine their own path – check out my blog on career planning and the kinds of question you can ask yourself to help determine your path.

A strong organization will normally have a mix of specialists and generalists

Second, what should a company promote? Both! Strong enterprises are built on a good mix of specialists and generalists. Companies need both those people who have a deep understand of an area, and those people who understand the large picture and the general landscape. And both sets of people – the generalists and specialists – need each other.

One group should not value themselves over the other group and feel they are more critical. A diverse team that is successful realizes that everyone needs each other and their strength lies in their collective talents.