| On reading an article published by the Houghton Mifflin | | | | business model and plan are faithfully carried out. At |
| Company, I was immediately struck by the tight | | | | the very least, this means making sure that |
| similarity between the entrepreneur and the | | | | everybody is following all the right strategies and |
| orchestra conductor. Now, I am not the first to | | | | tactics. |
| notice the parallel between orchestra music and | | | | 2. Ensemble - The entrepreneur must make sure |
| dynamic business as The Music Paradigm | | | | everyone works together, in precise timing and |
| demonstrates in the way it mixes the conduct of the | | | | commercial coordination. The entrepreneur is also |
| orchestra with the conduct of business. | | | | responsible for giving "cues," directions, emphasis, or |
| "The Music Paradigm uses a symphony orchestra as | | | | statement that indicate (or confirm) the right |
| a metaphor for any dynamic organization, particularly | | | | moment for a key individual player or group to make |
| one dealing with a period of exceptional challenge or | | | | their appropriate play. |
| change: a merger, a restructuring, new leadership, | | | | 3. Tempo and dynamics - Again, the entrepreneur's |
| change initiatives, stretch performance goals, and | | | | job is to ensure the realization of the business model |
| many more. The interface of the musicians with the | | | | and plan, but also to interpret those intentions, which |
| conductor is similar in many ways to the relationship | | | | means choosing general levels of roll-out pace and |
| between an organization and its leaders. The | | | | emphasis as well as supervising all the fine shadings, |
| conductor may be viewed, for example, as a CEO or | | | | which affect the shape and coherence of commercial |
| team leader, and the instrumental families (strings, | | | | phrases or passages. |
| woodwinds, brass, percussion) may be business units | | | | 4. Quality of service - The entrepreneur is at all times |
| or teams. Together, they find the best solutions for | | | | responsible for the kind of service the venture |
| working together and producing an effective | | | | partners produce. Whether its personalised, |
| outcome." The Music Paradigm is the brain child of | | | | structured, informative, lay back, forced, experience |
| Roger Nierenberg | | | | based, pick & pay, intense, complete, |
| So detailed below is the article written by Miles | | | | minimalised, after-sales orientated, or "individualised" |
| Hoffman about a conductor of an orchestra delivering | | | | the venture partner's service should always suit the |
| a successful performance, but adapted by me for an | | | | target market. |
| entrepreneur of a founding team delivering | | | | 5. Balance - The entrepreneur must make sure that |
| entrepreneurial success for a commercial enterprise. | | | | what should be delivered is delivered, that different |
| In large part I have simply replaced conductor with | | | | but simultaneous commercial "positions" are at the |
| its entrepreneur equivalent. The original article relating | | | | proper emphasis levels relative to their importance, |
| to conductors was published by Houghton Mifflin | | | | that one aspect, key player, or group of |
| Company and entitled "The NPR® Classical Music | | | | stakeholders doesn't inadvertently overwhelm any |
| Companion: Terms and Concepts from A to Z by | | | | others. |
| Miles Hoffman and National Public Radio" Copyright | | | | 6. Style - The entrepreneur must elicit from the |
| © 1997 | | | | venture partners an overall character of performance |
| The Entrepreneur as Conductor | | | | that is best suited to the entrepreneur, the |
| The entrepreneur directs the planning and | | | | commercial environment, and the opportunity. An |
| implementation of a new venture via either a | | | | entrepreneur does a large part of his or her work - |
| strategic alliance, networking cluster, founding team, | | | | perhaps the largest part - away from the public eye, |
| venture partners, or other commercial group. In the | | | | in market research and modeling. It is in the many |
| most general terms, an entrepreneur's job is to | | | | hours of researching the market that an |
| shape a commercial opportunity; to form ideas about | | | | entrepreneur learns about an opportunity in detail and |
| the most compelling way to exploit the opportunity | | | | formulates his interpretative ideas, and it is in |
| and to lead a group of diversely skilled individuals in | | | | modeling that the entrepreneur communicates those |
| such a way that those ideas are realized. | | | | ideas to the venture partners - in both written word |
| Entrepreneurs often serve as the "innovative | | | | and presentations - and sees that they are brought |
| directors" of their organizations, as well. An innovative | | | | to fruition in the planning stages. |
| director's duties include choosing the opportunity and | | | | Entrepreneurs have varying styles and techniques of |
| key resources and hiring (and firing) the professional | | | | planning. Some are operational, some are holistic; |
| and technical support. | | | | some talk quite a bit and some talk very little; some |
| In shaping a commercial opportunity, an entrepreneur | | | | spend considerable time going over every detail and |
| has many specific responsibilities, which are similar no | | | | others never do much more than have the founding |
| matter what kind of group he or she leads. (In this | | | | team go over all the elements of the business model |
| discussion, venture partners is assumed for the sake | | | | a few times. |
| of convenience.) | | | | "Leadership is having the insight to find out what |
| Their responsibilities (entrepreneur/conductor | | | | makes individuals tick and then having the skill to |
| symmetry) may be grouped as follows: | | | | make them" PB |
| | | | For more on the characteristics of an entrepreneur, |
| 1. Accuracy - The entrepreneur must ensure that the | | | | see the link below. |