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SUBSCRIBER CONTENT: Sep 17, 2006, 9:00pm MST Updated: Sep 14, 2006, 10:10am MST

Tool Kit

Both entrepreneurial, managerial styles bring success

Kathleen Davidson
Contributing Writer

Are you dropping the ball, feeling overwhelmed, or just not having fun anymore?

You may be suffering from moving out of your entrepreneurial comfort zone into the professional management arena, said Peter Burns, director of Strategic Alliances for Grand Canyon University's upcoming School of Entrepreneurial Studies.

A greater percentage of Arizona's population one day could face this "managerial malady," given that Entrepreneur magazine recently ranked Phoenix No. 1 in its top 20 large cities for entrepreneurs.

"Just as businesses and people change, organizational leadership needs to evolve over time," said Joan Koerber-Walker, executive director and chief executive of CorePurpose. "If you were looking for the best person to lead your business today, would it be you?"

Your answer will depend on an honest assessment of your personal strengths and the developmental stage of your business.

It is no secret that entrepreneurial vision is the spark that ignites the startup phase of a business. In addition to the energy and excitement, entrepreneurs also provide the risk-taking dimension required to execute that vision.

However, it often takes experienced professional managers to perpetuate that vision by creating a structure that will take the enterprise to the next level.

Successful companies combine both management styles, according to Jim Rhode, co-chairman of SmartPractice.

"It takes a balance. An entrepreneur acts on gut feelings and is looking for a paradigm shift, whereas a professional manager looks to improve an existing system and wants data from a double-blind study to make decisions," Rhode said.

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