Studies on the personality traits of entrepreneurs have focused on their propensity to start and maintain a business successfully. Increasingly, however, the debate on entrepreneurship is moving to consider not only what the entrepreneur ‘is’ but what they actually ‘do’. And successful entrepreneurs have a number of characteristic approaches to management, particularly as the business grows and becomes more complex. They face a constant struggle if they wish their business to continue to be entrepreneurial and they need to constantly adapt and change – not an easy task. But whilst they need to develop their managerial skills as the business grows, ultimately they need to metamorphose from an entrepreneur into an entrepreneurial leader. At the same time the business needs to operate in certain ways, adapting its structures and cultures as it grows to become more formalized but without becoming more bureaucratic. This chapter will highlight how entrepreneurs can become entrepreneurial leaders – extending the longevity of their organization. Chapter 19 will highlight how they might then ignite the spark of entrepreneurship within the organizations that they lead.
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