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How To Find the Entrepreneur in Residence Bandwagon?

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How To Find the Entrepreneur in Residence Bandwagon?

What used to be a job created by venture capital firms to give them something worthy of investment has turned into a hot a new trend in business. The position of entrepreneur in residence is growing in popularity. If you want to start an entrepreneur in residence studio, you need to understand the trend.

What Is Entrepreneurs in Residence?

Entrepreneurs in residence used to be temporary positions for startup companies who could help venture capital firms that had a high-level strategy. You would introduce other entrepreneurs and potential new deals to the companies’ owners. Entrepreneurs in residence were given a salary when they weren’t inventing or launching a company. Then, they got an investment in the next big thing.

However, the trend is that venture capital firms are changing what entrepreneurs do. They now run a project that engineers don’t want to do. Besides venture capital firms, entrepreneurs in residence are found at universities. Colleges employ entrepreneurs in residence as advisers to help students and faculty make the most of their innovations so they can turn them into businesses.

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Corporate America is the best place for entrepreneurs in residence. They connect entrepreneurs to the corporate world to shape the changes in industry. In other words, entrepreneurs in residence are looking for the product that will launch the company into the hottest trend, giving them the sales and direction of the future. Companies with entrepreneurs in residence are poised to win consumers on what the next hot ticket is.

Why Do Companies Need Entrepreneurs in Residence?

If your business is to deal with entrepreneurs, then, you would be smart to hire an entrepreneur in residence. For technology companies, it helps to talk to the people who use your products to find out how they use it.

Small business and startups don’t have information technology experts on hand. They also don’t have chief information officers. They don’t think about speeds and feeds. You need to talk the language of entrepreneurs, of the benefits of the products to reach that audience. Entrepreneurs can talk to entrepreneurs.

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Part of the trend that’s happening right now is more companies are willing to share their experts. Not too long ago, they held their employees and carefully guarded secrets under lock and key. Large corporations can’t remain profitable if they don’t remain innovative. Entrepreneurs become the innovators.

How to Find Good Entrepreneurs in Residence

To be effective, you should hire an entrepreneur in residence who actually served as an entrepreneur in the real world. You want someone who has built and sold a number of companies in a number of industries. They would understand the startup market and the needs of entrepreneurs. At the same time, they show that they are credible with a track record to the corporate big-wigs. To gain knowledge of the startup market, you can use a startup studio program that teaches about the nuances of startups.

Besides experience, entrepreneurs in residence have to be able to communicate in both directions. They have to listen and instill knowledge to customers and corporate employers.

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They have to have passion to make things happen. They are charged with creating transformational change to ordinary corporate structures and cultures. Because of these challenges, they have to believe 100 percent in their mission. They have to believe it matters.

  • A robust network of contacts to bring in new deals and expedite current projects.
  • Startup experience that involves knowing what it takes to be successful.
  • A fixer or someone who can solve problems as they occur

Entrepreneurs in residence are turning the tide on corporate America. They are allowing innovation to be alive and strong. The trend to hire entrepreneurs in training is growing quickly. Those who embrace innovation are crushing the competition in their industries and being the first on the market with a new item. Being first is always important because corporations can gain market share before copycats enter the arena.

You should consider hopping on the entrepreneurs in residence bandwagon before the trend disappears. You will benefit from having new ideas brought to market and being more profitable.

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Featured photo credit: Entrepreneur in Residence Bandwagon via lifehack.org

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Last Updated on August 25, 2021

Why Personal Branding Is Important to Your Career

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Why Personal Branding Is Important to Your Career

As a recruiter, I have met and interviewed hundreds of candidates who have no idea who they are.

Without a personal brand, candidates struggle to answer the question: “tell me about yourself—who are you?” They have no idea about who they are, what their strengths are, and how they can add value to the company. They present their CV’s believing that their CV is the key to their career success. In some ways, your CV still has its use. However, in today’s job market, you need more than a CV to stand out in a crowd.

According to Celinne Da Costa:[1]

“Personal brand is essentially your golden ticket to networking with the right people, getting hired for a dream job, or building an influential business.” She believes that “a strong personal brand allows you to stand out in an oversaturated marketplace by exposing desired audiences to your vision, skillset, and personality in a way that is strategically aligned with your career goals.”

A personal brand opens up your world to so many more career opportunities that you would never have been exposed to with just your CV.

What Is Your Personal Brand?

“Personal branding is how you distinctively market your uniqueness.” —Bernard Kelvin Clive

Today, the job market is very competitive and tough. Having a great CV will only let you go so far because everyone has a CV, but no one else has your distinct personal brand! It is your personal brand that differentiates you from everyone else and that is what people buy—you.

Your personal brand is your mark on the world. It is how people you interact with and the world see you. It is your legacy—it is more important than a business brand because your personal brand lasts forever.

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I have coached people who have very successful careers, and they come to me because they have suddenly found that they are not getting the opportunities or having the conversations that would them to their next role. They are having what I call a “career meltdown,” all because they have no personal brand.

A personal brand helps you become conscious of your differences and your uniqueness. It allows you to position yourself in a way that makes you stand out from the pack, especially among other potential job applicants.

Don’t get me wrong, having a great CV and a great LinkedIn profile is important. However, there are a few steps that you have to take to have a CV and LinkedIn profile that is aligned to who you are, the value you offer to the market, and the personal guarantee that you deliver results.

Building your personal brand is about strategically, creatively, and professionally presenting what makes you, you. Knowing who you are and the value you bring to the table enables you to be more informed, agile, and adaptable to the changing dynamic world of work. This is how you can avoid having a series of career meltdowns.

Your Personal Brand Is Essential for Your Career Success

In her article, Why Personal Branding Is More Important Than Ever, Caroline Castrillon outlines key reasons why a personal brand is essential for career success.

According to Castrillon,[2]

“One reason is that it is more popular for recruiters to use social media during the interview process. According to a 2018 CareerBuilder survey, 70% of employers use social media to screen candidates during the hiring process, and 43% of employers use social media to check on current employees.”

The first thing I do as a recruiter when I want to check out a candidate or coaching client is to look them up on LinkedIn or other social media platforms, such as Facebook, Instagram, and Twitter. Your digital footprint is the window that highlights to the world who you are. When you have no control over how you want to be seen, you are making a big mistake because you are leaving it up to someone else to make a judgment for you as to who you are.

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As Jeff Bezos, the founder of Amazon, once said, “Your brand is what people say about you when you are not in the room.”

In her book, Becoming, Michelle Obama writes about the importance of having a personal brand and her journey to defining her personal brand. She wrote that:

“if you don’t get out there and define yourself, you’ll be quickly and inaccurately defined by others.”

When you have a personal brand, you are in control. You know exactly what people will say about you when you leave the room.

The magic of a personal brand is that gives you control over how you want to be seen in the world. Your confidence and self-belief enable you to leverage opportunities and make informed decisions about your career and your future. You no longer experience the frustrations of a career meltdown or being at a crossroads not knowing what to do next with your career or your life. With a personal brand, you have focus, clarity, and a strategy to move forward toward future success.

Creating your personal brand does not happen overnight. It takes a lot of work and self-reflection. You will be expected to step outside of your comfort zone not once, but many times.

The good news is that the more time you spend outside of your comfort zone, the more you will like being there. Being outside of your comfort zone is where you can test the viability of and fine-tune your personal brand.

5 Key Steps to Creating Your Personal Brand

These five steps will help you create a personal brand that will deliver you the results you desire with your career and in life.

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1. Set Your Personal Goals

What is it that you want to do in the next five years? What will your future self be doing in the next five to ten years? What is important to you? If you can answer these questions, then you are on the right path. If not, then you have to start thinking about them.

2. Create Your Unique Value Proposition

Create your unique value proposition by asking yourself these four questions:

  1. What are your personality features? What benefit do you offer people?
  2. Who are you and why do people enjoy working with you?
  3. What do you do and what do people want you to do for them? How do you solve their problems?
  4. What makes you different from others like you?

The answers to these questions will give you the information you need to create your professional story, which is the key step to creating your personal brand.

3. Write Your Professional Story

Knowing who you are, what you want, and the unique value you offer is essential to you creating your professional story. People remember stories. Your personal story incorporates your value proposition and tells people who you are and what makes you unique. This is what people will remember about you.

4. Determine Which Platforms Will Support Your Personal Brand

Decide which social media accounts and online platforms will best represent your brand and allow you to share your voice. In a professional capacity, having a LinkedIn profile and a CV that reflects your brand is key to your positioning in relation to role opportunities. People will be connecting with you because they will like the story you are telling.

5. Become Recognized for Sharing Your Knowledge and Expertise

A great way for you to promote yourself is by sharing knowledge and helping others. This is where you prove you know your stuff and you gain exposure for doing so. You can do this through social media, writing, commenting, video, joining professional groups, networking, etc. Find your own style and uniqueness and use it to attract clients, the opportunities, or the jobs you desire.

The importance of having a personal brand is not going to go away. In fact, it is the only way where you can stand out and be unique in a complex changing world of work. If you don’t have a personal brand, someone will do it for you. If you let this happen, you have no control and you may not like the story they create.

Standing out from others takes time and investment. Most people cannot make the change by themselves, and this is where engaging a personal brand coach is a viable option to consider.

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As a personal brand coach, working with my clients to create their personal brand is my passion. I love the fact that we can work together to create a personal story that defines exactly what people will say when you leave the room.

Other People’s Stories

Listening to other people’s stories is a great way to learn. In his article, 7 TED Talks About Personal Branding, Rafael Dos Santos presents the best Ted Talks where speakers share their stories about the “why,” “what,” and “how” of personal branding.((GuidedPR: 7 TED Talks About Personal Branding))

Take some time out to listen to these speakers sharing their stories and thoughts about personal branding. You will definitely learn so much about how you can start your journey of defining yourself and taking control of your professional and personal life.

Your personal brand, without a doubt, is your secret weapon to your career success. As Michelle Obama said,

“your story is what you have, what you will always have. It is something to own.”

So, go own your story. Go on the journey to create your personal brand that defines who you are, highlights your uniqueness, and the value you offer to the world.

Featured photo credit: Austin Distel via unsplash.com

Reference

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