the business ladder

By Fabio Del Piero (First published 25.10.07 - updated 03.12.09)

I’m a strong believer in the ‘business ladder’. It’s a simple concept: that getting involved in the field of business, and climbing up the ladder, will bring extremely powerful benefits to those who are open to gaining new skills and experiences.

There are available options for all sorts of people to get involved, not just limited to what many imagine business to be – namely taking the plunge into running your own company or entity. Even without taking that bold step, I see business and enterprise skills as essential training for employees of all ages too. So there are rungs on the business ladder dedicated to the development of such skills in the context of boosting workplace performance, as well as at the stage of formal education.

Below are the various rungs of the business ladder, which we will look at in more detail shortly. In descending order from the most sophisticated, intense expression:

1. Managing an extensive entrepreneurial portfolio

2. Running your own business or businesses

3. Getting involved in running a business
(including while employed elsewhere)

4. Treating your employed career like a business

5. Acquiring business skills and knowledge to be a better employee

6. Learning about practical business concepts (especially for young people)

The consistent development of practical business skills and entrepreneurial vision is the golden thread that runs through the fabric of a successful career.

1. Managing an extensive entrepreneurial portfolio

This is the pinnacle of entrepreneurial activity, what many people imagine when they hear the word ‘entrepreneur’. Indeed the high media profile over the years of businesspeople such as Richard Branson, Alan Sugar, Deborah Meaden, Peter Jones and others is a testament to the high esteem this top category is held in.

Having risen this high, such entrepreneurs use their ideas, charisma and people management skills to shape organisations. Rather than merely ‘working hard’, it’s the high-flying entrepreneur’s vision and thorough understanding of business realities that flow down to their employees and direct them effectively in their endeavours.

It’s healthy to aim for this rung someday, but above all be patient. In order to achieve this kind of success, you need to work your way up the ladder while picking up new skills, refining your existing ones, gaining valuable experience and developing your business vision at every turn.

2. Running your own business or businesses

This second rung is similar to the first, only typically at a more hands-on level. Instead of just using mostly ideas and direction to push their outfit forward, smaller business owners will often put in long hours of daily management and work as well.

This can at times be the most stressful position to be in, with significant responsibility to shoulder. But with responsibility comes the freedom to make your own decisions, as well as enormous satisfaction when controlling your own business and taking it forward successfully the way you want.

Because it can be so challenging, this rung should be approached when you feel ready, for example after a suitable period ‘learning the ropes’ on rung number 3 below.

3. Getting involved in the running of a business (including while employed elsewhere)

The third rung is the first that can really combine the self-employed experience with traditional part-time or full-time employment.

By buying into an existing business, you can discover how to successfully run and manage it without having to bestow all your time on that activity. For example you can share some of the responsibility, join in with the decision-making, analyse performance and so on, from the detached position of a minority shareholder. Meanwhile, you retain some security via your main job and career if you so choose.

If you want, as time goes by you can increase your level of participation in order to learn more, dedicating progressively more time and effort to the business. This allows you to gain greater exposure to the field of entrepreneurship, eventually even starting to assemble a portfolio of different businesses and income streams.

4. Treating your employed career like a business

One very beneficial behavioural trait that fosters entrepreneurial success is that of treating your job like a business, an attitude that also helps people make the transition from employed to self-employed.

The difference between someone who follows this approach and someone who doesn’t is most evident in their focus and attitude: the business-minded person will focus on results, whilst the person with the ‘employee’ mindset will focus on the time or hours worked.

But why should you feel passionate about achieving results for someone else’s business? There are actually very good reasons. People who treat their employed career like a business attain greater personal development, receive greater recognition, network better, earn more money and also obtain higher levels of job satisfaction. Moreover, it prepares them for self-employment should they wish to pursue it in the future.

5. Acquiring business skills and knowledge to be a better employee

As alluded to in rung number 4, encouraging employees’ entrepreneurial outlook and skills helps them to perform better when working in an employed role.

This can manifest itself in different ways, from using the entrepreneurial habit of maximum efficiency to avoid wasteful practices, to understanding the ‘big picture’ and the actual workings of their employer’s business in order to help it run more smoothly or propose constructive improvements.

Fostering that kind of thinking benefits everyone involved, improving performance, efficiency and productivity while also making employees feel more active and motivated. As part of this I believe in a very practical kind of ‘continuous professional development’ that is highly relevant and helps both individual employees and their organisations to grow successfully.

6. Learning about practical business concepts (especially for young people)

Finally, I believe it’s important for young people to be exposed to business skills and concepts from early on, where possible even before they enter the full-time world of work.

The more you learn about core business and enterprise topics, as well as other related fields such as financial literacy, communication and presentation skills, the better prepared you will be when competing for valuable work placements, internships or jobs later on.

This applies equally to those who choose to stay in education to higher levels as well as those who prefer to follow a more immediate route toward a career, and should be a part of the development of both groups. It’s never too early to benefit from the knowledge and skills that are central to successful business and enterprise.

 

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