Last month, we began our two-part discussion with a look at the essence of entrepreneurship: the pursuit of opportunities. This month, we’ll talk about how to instill an entrepreneurial mindset in your organization.
Entrepreneurial management is more about a spectrum of behaviors than a rigid set of practices. Entrepreneurial organizations each have their own “look and feel” but share some common characteristics:
- They take an outside-in approach to strategy development, scanning the horizon for opportunities.
- They take an experimental approach, committing resources in stages, with rigorous honesty about whether things are working or not.
- They are good at using other people’s resources – bartering, partnering and finding other creative solutions to chronic resource shortages.
- They build “flat,” networked organizations with flexible teams and performance-based rewards systems.
- They foster a culture of respect and collaboration, where people are treated as peers and equals, valued for their skills and experience, and eager to help each other succeed.
Getting to Giving offers three quite different examples of nonprofits with entrepreneurial mindsets: the William B. Clinton Foundation, the Bill and Melinda Gates Foundation, and the Metropolitan Opera. You can find a snapshot of each in Chapter 3. Are You Well Managed?