{"id":9102,"date":"2022-02-13T07:00:07","date_gmt":"2022-02-13T11:00:07","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=9102"},"modified":"2022-02-13T07:00:31","modified_gmt":"2022-02-13T11:00:31","slug":"how-to-flex-your-entrepreneurial-muscle","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=9102","title":{"rendered":"How to Flex Your Entrepreneurial Muscle"},"content":{"rendered":"
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In my\u00a0forthcoming book, “In Control at 50+: How to Succeed in The New World of Work<\/a>,” I delve into entrepreneurship as one of the massive workplace trends for those over 50 moving forward. It has been gaining steam for a few years.<\/p>\n

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\u00a0I reached out to Alisa Cohn, executive coach and author of the fine new book, \u201c<\/span>From\u00a0Start-up to Grown-up<\/a>,\u201d for some guidance.<\/span><\/div>\n<\/div>\n

Cohn has a notable record advising founders of firms such as Etsy, Foursquare and Venmo. One of the things that sets her apart from the many coaches out there, in my opinion, is her practical focus on how your inner game can get the best of you when you\u2019re the boss, and how to take control.<\/p>\n

Start with you.<\/em><\/p>\n

Kerry Hannon:<\/strong>\u00a0What should you know about becoming a first-time entrepreneur at 50+?<\/strong><\/p>\n

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Alisa Cohn. (Photo courtesy of Cohn)<\/figcaption><\/figure>\n

Alisa Cohn:\u00a0<\/strong>What you should know is you are a seasoned professional and an older, hopefully wiser person. You bring a lot more skills to the table than a younger entrepreneur. You\u2019ve had the experience managing larger teams. You\u2019ve had the experience building your management skills. You\u2019ve amassed a network around you of people who want to help. And you have the wisdom of the long view and recognizing what you\u2019re getting yourself into, and that it\u2019s going to take some time.<\/p>\n

The wisdom of things happening to us in life, the wisdom of age, brings you this perspective of knowing that life is ups and downs and your business will be ups and downs. You\u2019re ready to take on the ups and downs that you are going to have to address as a new entrepreneur.<\/p>\n

Can you talk a little bit about the sort of intergenerational teams that might be a secret to success for an entrepreneur over 50?<\/strong><\/p>\n

The older, more seasoned person brings that perspective and that wisdom and literally the skills and time in the water. The younger person has the finger on the pulse of what her generation wants and is looking at new ways to do things, plus a perspective formed by being a digital native, being more comfortable with vulnerability in the workplace, and less hierarchical.<\/p>\n

If they will listen to each other and learn from each other, they will absolutely develop a better product. Meshing those two together, when they respect each other, is a very powerful combination.<\/p>\n

Don\u2019t forget what it was like to be 20 years younger and less experienced and therefore delegate and coach appropriately, which means they may actually need direction and guidance. They may make mistakes, get ready for that. Don\u2019t be upset, create a learning environment.<\/p>\n

What are your instructions for someone before a launch?<\/strong><\/p>\n

Do you have what it takes to be an entrepreneur? Are you ready, willing, and able to handle the extreme ups and downs that you\u2019re going to go through? Are you ready, willing, and able to handle the psychology of what it\u2019s going to take to try to invent something new and also the difficult work that it\u2019s just going to take to bring something into fruition? Do you have the desire and ability to adapt to changing environments and grow rapidly? Have you tested your idea? Can you test your idea?<\/p>\n

What\u2019s one common mistake older entrepreneurs make?<\/strong><\/p>\n

In general, entrepreneurs are often known as control freaks, and only they can do it. The more you can delegate and give away, the more quickly, the more successful you will be, even if everything is not always done perfectly perfect.<\/p>\n

Why is self-reflection key before launching a business?<\/strong><\/p>\n

Your company becomes a mirror of yourself, with all the good and all the bad. Self-examination helps you identify what leadership qualities you have, what qualities you need, and how you are going to make the most of your strengths, bridge the gaps in your skills, and strengthen some of your weaknesses.<\/p>\n

As I write in my book: Everyone has a natural leadership style. Here are six questions I give to my clients to help them focus on key aspects of their leadership style.<\/p>\n

1.\u00a0<\/strong>How do you express yourself to people?\u00a0<\/strong>Do you ask them questions, listen to the responses, and supportively explore solutions together? Or do you tell them what to do and hold them accountable for the result?<\/p>\n

2.\u00a0<\/strong>How do you deal with conflict? Do you lean into conflict to try to eliminate it, or do you avoid it and hope that people work it out for themselves?<\/p>\n

3.\u00a0<\/strong>What\u2019s your natural swing on giving feedback and having difficult conversations? Do you tend to wait to address issues or weigh in bluntly whenever you see a problem?<\/p>\n

4.\u00a0<\/strong>How much do you want to control the process? Do you watch over every step in the process or wait for the end result? Do you tend to assume you should handle most things or do you instinctively ask yourself who else could do a certain task? How much personal participation do you prefer and how much can you give up? Do you make decisions by yourself and let people know or do you gather opinions and get consensus from the team?<\/p>\n

5.\u00a0<\/strong>How do you respond to stress?\u00a0<\/strong>Do you check out or shut down? Do you snap back? Do you work harder?<\/p>\n

6.\u00a0<\/strong>How do you make decisions?<\/p>\n

Why is an ability to adapt an essential ingredient to success?<\/strong><\/p>\n

You will have to adapt very quickly and very regularly and often more than you realize. Here\u2019s an example: If you\u2019re the kind of leader who just brainstorms all the time, that actually is really fine for eight people, or for 20 people. When you\u2019re in a hundred people, and you\u2019re just brainstorming all the time and just sharing your thoughts, and people see you as the founder and the leader, they take everything you say seriously. Your suggestions are orders. Your inklings are orders. Your brainstorms are orders. They go off and run with it. Be aware of that.<\/p>\n

Managing you can be a psychological challenge, what are some ways to tackle that?<\/strong><\/p>\n

Managing your psychology means overcoming self-doubt, dealing with your internal critics. Entrepreneurs are more likely to encounter depression and anxiety. If it comes up for you, then find people around you to help you stay the course.<\/p>\n

Create a highlight reel. It gives you perspective on your capabilities and who you really are. My clients get a lot out of this when they are encountering self-doubt or concern or impostor syndrome. I say, listen, let\u2019s step back. You\u2019re a very capable person. Can you share with me three or four successes you\u2019ve had?<\/p>\n

Write those down. Read those every day, or read those when you\u2019re encountering a lot of self-doubt or impostor syndrome. Read those when you\u2019re about to go into a difficult situation.<\/p>\n

Find an alter ego. An alter ego is \u2014 it\u2019s not me doing this. You have a role known as the founder. How would the founder act in a circumstance like this? How would the CEO act? And if you can put it on that, you can give it a name. Finding almost a third party helps you be more unleashed.<\/p>\n

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by\u00a0 Kerry Hannon<\/a><\/div>\n
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Kerry Hannon (Photo credit: Elizabeth Dranitzke)<\/figcaption><\/figure>\n

Kerry Hannon is\u00a0a leading expert and strategist on work and jobs, entrepreneurship, personal finance and retirement. Kerry is the author of more than a dozen books, including “Never Too Old to Get Rich,” “Great Jobs for Everyone 50+,” and “Great Pajama Jobs: Your Complete Guide to Working From Home.” Follow her on Twitter @kerryhannon.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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