Bureaucracy is the “anti-entrepreneur”. Avoid bureaucracy like the plague, in your company for sure, but also in the people and other companies with which you associate. A bureaucratic mindset is not well aligned with what an early-stage entrepreneur is trying to accomplish. It will only slow your progress by undermining your hunger and sense of urgency. As your company grows however, it may be necessary to put more structure in place – when that time comes, like it or not, you will need to bring on some bureaucrats – sad but true. If you are a true entrepreneur at heart, this will likely be a very uncomfortable time for you, and most likely you will (rightly) consider selling your venture, or bringing in other people to manage it. You’re on the right track – it’s very few entrepreneurs who start a business that can also manage it when it becomes bureaucratic. Seek guidance from entrepreneurs who have been through similar growth and similar decisions regarding the structure you need to put in place as the company grows. Making such decisions is definitely one wheel you shouldn’t reinvent..
Paul is a serial entrepreneur, strategic and risk management advisor, marketer, speaker and coach who has dedicated the majority of his career to entrepreneurship, leadership and peak performance. Paul has worked with various entrepreneurial companies in senior management roles and has led the development, review, and selective implementation of several hundred start-up and corporate venture business plans, financial models, and feasibility analyses. He has performed due diligence on and valuation of many potential investment and acquisition candidates. Paul was also the Director of a consulting operation in Wharton Entrepreneurial Programs and holds a Bachelor of Science degree in Economics and an MBA from the Wharton School of the University of Pennsylvania. Paul has lived, worked, learned and traveled extensively in Latin America, Europe, and Asia and speaks and writes English, Portuguese, and Spanish.