Mr. Roger Khater gave an experience sharing talk titled “Bridging the Gap Between Entrepreneurship and Project Management “, which was held on Thursday, June 29th, 2017 at 6:30 PM in Holiday Inn Beirut Dunes, Verdun.
In the interactive and knowledge sharing session; Mr. Khater identified and described the entrepreneur with emphasis on his common traits and behavior, in comparison with the project manager while shedding the light on their differences.
Mr. Khater proposed key skills and attitude required for the project manager who will be working with the entrepreneur, hoping as well to inspire few to become entrepreneurs.
As shared in the lecture; the entrepreneur is someone in constant look for opportunities based on real life needs, where he finds a solution to make it a profitable business that eventually generate revenues and employments.
Thus, the most common trait of an entrepreneur is intuition versus the structure trait in the project manager. Packed with his flair, the entrepreneur dreams and conceives businesses, versus the project manager who needs a charter to kick off his mission.
In addition to intuition, the entrepreneur is a calculated risk taker, but far from being a gambler, way less a planner, excelling at marketing and sales along with identifying new innovations to incorporate in the upcoming business in order to protect, enhance and/or bringing a new value proposition to a new market segment.
In this regard, a project manager is a risk averse, excellent planner, product focus with project delivery as his main concern. Nevertheless, the entrepreneur and the project manager need each other to create new businesses and products.
The entrepreneur main focus is his dream to have a new solution, where the project manager must help the former in identifying the right charter; plus, change management process should be well identified early stages, as the entrepreneur has tendency to enhance the product even before starting up its design, and when a minimal viable product is ready, the entrepreneur will immediately take it to market for revenue and/or investors for funding.
During the go to market phase, the entrepreneur shifts his focus to marketing and sales, and the project manager is faced with new stakeholders (i.e. sales people, more innovators and investors, usually hard to manage characters) that the entrepreneur intuitively knows how to manage; but the support of the project manager is again a must in order to streamline the operation, by breaking all operational activities into small tasks and mapping them to the right people profiles, as well as creating the basis of the organizational structure that will govern the new business.
Finally, in order for the project manager to become a good entrepreneur, he has to be more intuitive rather than structured, he should also start taking risks, unleash his creativity towards innovation and mostly becomes oriented on marketing and sales. An entrepreneur is first a character, but who also needs the right environment to operate properly, and a huge passion that will drive him to take the right decisions all times, to maintain his persistency on the previously set vision and to constantly stay focused on his business for at least for 2 years.
Some pictures from the session