“The qualities and skills that give a true leader the edge necessary not just to survive, but thrive in business. “
One of the key qualities inherent in every leader is the ability to take responsibility for risks. According to expert Victor Orlovski, unlike managers, who act as links in the overall management chain, entrepreneurs generate income based on the risks they take. However, many successful individuals sometimes adhere to completely different principles in business. But which principles can lead a company to prosperity?
Victor Orlovski gives an example from the book ‘The Ideal Executive: Why You Cannot Be One and What to Do about It’ by the famous strategy consultant Ichak Adizes. In the book, the author examines three main character types – the “ideal leader,” the “ideal administrator,” and the “ideal integrator”. At the same time, multiple personality traits are considered to identify the characteristics of a leader who would possess only one of the three competencies.
For a better understanding, the book provides the following example. Three people – a “leader,” an “administrator,” and an “integrator” are looking out a window. What do they see? The “leader” sees the horizon and the mountains lining it, the valleys, and a bridge that has not yet built across a river but is already at the design stage. The “administrator” notices the poor workmanship of the frame and the grime, the quality of the finishing, and other superficial features. The “integrator” does not look out the window, nor does he take note of the details of the room around him. Instead, he carefully watches the “leader” and the “administrator.”
Clearly, people, especially entrepreneurs, who have developed only one of the three qualities described herein do not exist in nature. But this example, according to Victor Orlovski, illustrates the strengths of leaders, which can propel them to success.
Types of Entrepreneurs from the Perspective of Victor Orlovski
One of the types of entrepreneurs that Victor Mikhailovich Orlovski singles out can be called “operators.” Such executives have the necessary managerial skills to run a business since they prefer to immerse themselves in the relevant processes and build them from the ground up independently. Such an approach gives them an in-depth understanding of their business. It is difficult for them to run several businesses at once, but they can change their areas of activity quite radically. And in each case, they get completely absorbed by the project they have engaged in.
The second type is the “investors”. These are strategists who distribute their investments across profitable industries. They do not get involved in any operational aspects but instead find suitable managers or entrepreneurs ready to build the business. Victor Mikhailovich Orlovski is convinced that the “investor’s” primary role is their willingness to commit and invest in business, to risk their own or attract funds. That is why their ability to look into the future and select the right specialists as managers is of such importance. If we compare these two types of entrepreneurs, the first often concentrates on their risks, while the second tries to diversify them.
According to Victor Orlovski, the next type could be “speculators”. Despite the term’s negative connotation, such people have a quick mind and know how to coordinate their actions to get rich rather quickly. The key features of these entrepreneurs are their ability to navigate current circumstances and find effective solutions instantly. According to Victor Mikhailovich Orlovski, a speculative business is no worse and no better than any other. It requires a flexible approach and is characterized by high risks.
Orlovski Victor draws the following analogy for the types of entrepreneurs in nature – the “operators” are herbivores that can be as powerful as elephants or rhinos. The “investors” are the predators that include both small and large species. The “speculators” are scavengers, like bacteria and detritivores, which break down organic matter into constituent components and fertilize the soil. Which of these types is of greater significance? According to Victor Orlovski, each type bears its weight because they all ensure life and business continuity.
According to Victor Mikhailovich Orlovski, ideal entrepreneurs do not exist, but each may have the skills inherent in all three categories to a different extent. Of course, specific character traits influence the development of these abilities separately. The choice depends on individual goals, financial capabilities, and risk tolerance, with the determining factors being sound planning and judgment when making business decisions.
