Management Advice

Peter Drucker’s Wisdom

Peter-Drucker

As I review my previous blogs, a brief blog referring to one of Peter Drucker’s famous quotes shows up in my top 10 blogs, no matter how I seem to sort them. It’s at least partly because the blog remains evergreen. I continue to get views on this blog regardless of the time of day, the day of the week, the season, the country, etc. It just seems to endure. I neither did nor said anything magical in the post. The reason is that Drucker’s name and the profound wisdom packed into one short phrase, shows up in name and topic searches.

Here’s the blog link:

Drucker’s Advice. Don’t solve problems – pursue opportunities.

Today, we’ll focus on entrepreneurship. Here’s what Drucker had to say about entrepreneurs:

“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.”

Peter Drucker

It helps to know that when Drucker refers to entrepreneurs he is not talking about corporate managers, but genuine entrepreneurs, leading small and medium-sized businesses in various growth stages.

In fact, a big problem with many startups today is that early on they want to hire experienced corporate executives. Though these execs thrive in their corporate world, they lack the unique decision-making skills or leadership talents that are so critical for early-stage entrepreneurships. Moreover, they’re myopic. They only know how to act in a corporate way, not in an entrepreneurial way.

When Drucker says the entrepreneur always searches for change, he exposes the key difference between corporate managers and entrepreneurs. Corporate managers are looking for situations where they can leverage their accumulated strengths. Corporations want to apply their power and strength in manufacturing, distribution, or simply apply their corporate size and strength to win in the marketplace.

On the other hand, entrepreneurs don’t have scale and strength. They can’t bully their way to success. They win because they are all about new ideas, changing the game, and doing things different.

Successful small businesses are nimble almost by definition. They can change directions quickly, make decisions immediately, and will single-mindedly pursue a worthwhile goal. They have no choice. It’s all on the line for the entreprenuer.

 

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