Becoming an Entrepreneur
Becoming an entrepreneur takes more than an MBA. The other night I watched a TV show, where Chef Gordon Ramsey went into a financially troubled restaurant to teach the owner how to turn it around. This has been a popular show for a while and Ramsey did his usual “shtick.” But what captured my interest was the owner/entrepreneur, who was allowing her business to fail, and what becoming an entrepreneur meant to her.
In this case, the owner had an MBA from a prestigious business school, and while in school had specialized in entrepreneurship…she was a well-trained entrepreneur—or was she?
Here were the business problems that surfaced during the course of the show:
- This entrepreneur had no previous“experience” running a business. This was her first business.
- She had no “core knowledge” for running a restaurant.
- There was a distinct lack of passion for her chosen business. She said she wanted an existing business so she would not have to “start from scratch,” and this opportunity just showed up.
- She exhibited no leadership, nor control, over her staff. The cooks did whatever they felt like doing, and the owner was mostly unaware.
- This business owner spent little time on the “front line” with her people—she was oblivious to what actually went on in the kitchen. The “front line” was in disarray and she didn’t know it.
- She could not test the products she was serving customers, because she was a vegetarian, and this was not a vegetarian restaurant.
- She was also dating one of her employees, which, in a small business, totally precludes any sense of leadership within the business.
- This entrepreneur was totally out of touch with her customers. The food was poor, and she responded to their immediate complaints with apologies, but never tried to fix the long-term problem.
- No improvements were ever made to the customer’s “experience” during the five years this person owned the business. The menu stayed the same, as did the décor, and dishes.
- The computer system for transmitting food orders to the kitchen was antiquated and worn out.
It was obvious that during her MBA studies, this person was not taught much about becoming an entrepreneur and actually operating a Business. Of course, Gordon Ramsey “fixed” everything and turned the business around—but for how long? It would be interesting to see a follow-up show to see just how much this person learned from Ramsey about becoming an entrepreneur.
Watch for my next post where I will give some tips on how to become an entrepreneur.
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