The ability to refine an entrepreneur’s leadership skills is essential for the success of his start-up or company.

According to Bernhard Burgener, a seasoned entrepreneur, and businessman, entrepreneurial leadership requires specific skills.

Read on to learn more about how to cultivate entrepreneurial leadership within your business.

First, the definition of entrepreneurial leadership, according to Bernhard Burgener

An entrepreneurial mindset focuses organizations on transforming problems into opportunities that create economic and social value. For Bernhard Burgener, entrepreneurial leadership goes hand in hand with relentless optimism about the world.

“An entrepreneur isn’t just a risk manager; they’re also ambidextrous and adept at navigating uncertainty,” he says. “Their outlook on the future is positive, as they always try to improve things.”

To learn effectively, you must be open to learning and able to mobilize others within your organization.

“The best leaders are learners,” Bernhard Burgener says. “Developing a learning mentality will help you listen to new ideas, consider contrary viewpoints, and make better decisions.”

Entrepreneurs are not born; they are made. With practice and time, it can be developed. There are a few common characteristics among budding entrepreneurs:

• Entrepreneurial leaders strive to solve problems collaboratively
• Entrepreneurial leaders focus on outcomes and value action
• Entrepreneurial leaders believe that changes can be made and that they can make a difference

“An entrepreneurial leader knows leadership doesn’t come from the top; it comes from action, not hierarchy,” Burgener says. “High-performing, collaborative problem solvers are needed across all industries.”

Across all sectors, these leaders are needed more than ever before. 

Bernhard Burgener elaborates on the styles of leadership

There are multiple types of leadership styles. Leadership styles are determined by your personality and how you want to lead your team.

Here are a few sections that will give you an idea of the different leadership styles you can choose from. As a result, you will also be able to determine what leadership courses you should take.

Democratic style

In democratic leadership, the leaders make or break decisions democratically, based on their team’s opinion and feedback. However, the leader makes the final call, every thought counts.

Since this style allows employees to have a voice, it is one of the most effective leadership styles.

Autocratic style

This type of leadership is the opposite of democratic leadership, where employees’ opinions are not considered. This leadership style expects others to follow their decisions, which is not sustainable in the long run.

Laissez-faire style

“Laissez-fire” means “let them do.” This method ensures employees have the authority to make their own decisions. While this leadership style can empower, it may also limit development, so it must be kept in check.

What are the major components of entrepreneurial leadership

According to Bernhard Burgener, to be influential leaders, true entrepreneurs must develop the following leadership skills:

Establish Trust

Leaders can build trust in many ways. They can learn how to build trust and achieve it by working hard and communicating consistently with their employees. 

Entrepreneurial leaders demonstrate their commitment to achieving the vision to build employees’ trust and confidence.

Use Effective Communication Skills

Effective communication is equally critical to successful leadership. Mixed messages and unclear visions prevent employees from focusing on the company’s goals.

Alternatively, the company’s goals can be ingrained in employees by conveying a clear vision and reinforcing them over time.

Seek Self-Improvement

A great leader always seeks to become even better. Leaders must always be learning and evolving. They should never stop trying to improve themselves, their employees, the company’s processes, and develop new strategies.

Take Calculated risks

Entrepreneurial leaders need to take calculated risks if they want to have any chance at success. Today, there are many ways to take calculated risks. It’s sometimes necessary to take a leap of faith and maintain momentum toward the company’s goals.

Of course, this should be done responsibly and with some guidance.

Entrepreneurial leadership promotes innovation, says Bernhard Burgener

An innovative team keeps a pulse on the market and what it tells them to do. It is common for people and companies to claim to know about the innovations in global markets.

However, few will make the necessary investments in people and resources to bring innovative ideas to life.

These three things can be done immediately by leaders to foster an environment of innovation and initiative. These principles apply if you’re forming a new team or revamping an existing one.

Collaborate and Discover

You can’t begin to collaborate until you trust yourself and others. Collaboration requires more than working closely together to achieve more remarkable results.

You never know which idea will shape the innovation that creates impact and influence in the marketplace. 

Communicate to Learn

To build trust and collaborate, teams, need solid communication to find their rhythm. How you communicate sets the tone and propels thinking in various directions, leading to innovations.

Team members should view themselves as innovation labs and constantly challenge each other to improve their ideas.

Be a Courageous Change Agent

Leadership must challenge team members to think critically and see through a continuous improvement lens for them to innovate.

Looking through this lens requires the mindset of a “courageous enabler.” It is essentially acting and being a change agent to increase efficiency and performance.

Some of the earliest indicators of recognition for workers actually date back to Roman and Greek times. A prime example would be the Olympics – a legacy that remarkably continues into the current era. Though the rewards for the Olympics have never been financial, they have demonstrated that value can exist in many forms beyond the monetary.

Moving into more recent history, The Fair Labour Standards Act in 1937 was one of the most important bills put into law for workers. The bill gave us a federal minimum wage and a 40-hour working week on the back of union pressure. That’s right – without the unions we wouldn’t have the weekends we have now!

A lot of the ‘work perk’ incentives that exist these days originated in the 50s – quality gifts, company cars, luxury holidays, private secretaries, and so much more. If we fast-forward to the 90s, then we start to see companies offer stock as a means of attracting and retaining talent. It transpired that the stocks were often tied up in these companies. It was a shrewd move to ensure that any eventual payout was tied to company success.

So what is the science behind the success (or failure in some cases) of workplace perks and employee reward schemes?

Drive-Reduction Theory

According to Clark Hull’s theory, two people may act differently in the same situation based solely on the types of incentives offered to them. Nowadays, an employee that can’t drive would find a company car pretty useless. Equally, another employee may not know the first thing about the stock market.

Hull’s theory essentially focuses on how motivation originates from biological needs or drives, which makes understanding the individual even more crucial. Though from a decade ago now, a study from Forbes indicates that organisations that give regular thanks to their employees far outperform those that do not.

Findings of the study found that 87% of the recognition programmes focus on tenure, but is this a flawed way of rewarding? Does this actually reward performance? This is not to say tenure is unworthy of reward, but a performance-based approach may be more beneficial overall.

Go beyond the gift-cards

A gift-card is nice, but studies show that the majority of people prefer to receive tangible and meaningful benefits when it comes to rewards. The notion of flexibility and time off are more valuable than many of us may realise, and in essence, these are entities that a hefty wage packet cannot necessarily buy.

We are fortunate enough to live in an era of remote and hybrid working, where employees have far more agency in their working lives. With the right employee rewards system in place, this sense of agency can be further enhanced. If we consider benefits considering the ‘carrot-and-stick’ method, company cars and shares in stocks may still be considered necessary ‘carrots’ in some workplaces.

That said, we are fortunate to encompass a wonderful digital era in which we can keep track of our finances, our mental health, and our physical health through our smartphone screens. A solid benefit package accounts for the modern worker with an array of varied benefits. As times evolve, let’s hope it continues doing so.

One of the biggest expenses for a dental practice is almost always going to be the money spent on dental supplies. You will be spending a lot to keep your dental practice up to date on both big supplies like x-ray machines and computer software, as well as smaller supplies like cups and rubber gloves.

In order to make sure the dental products you need to make money aren’t going to throw your business down the drain by costing you too much money, you need to figure out a way to get  control. Here are some of the best ways to save money on dental products for your practice.

Analyze Your Budget

Don’t be afraid to take a look at your budget and see what is happening with your money. If your dental practice doesn’t have a budget that you are sitting down and doing an analysis of at least once a month, then you need to get one. Figure out what your dental practice is bringing in and then look at finding the best way to spend it all.

You might be overpaying on certain supplies and need to find another supplier who can get you the content you need for a lot less, and then you can put the difference somewhere else inside of your business. Additionally, don’t be afraid to do a bit of negotiating with your suppliers because you might be able to get an even better deal.

Research Prices to Avoid Debt

Even if you manage to get into a good dental practice and manage to find a good practice right away, chances are you are still holding onto a lot of debt from dental school and other sources, and you don’t want to get into any more debt while buying dental supplies. So make sure that you know about prices.

Figure out what the average prices for supplies are, and keep checking those prices each month or each quarter. That way you know what you would be paying, and you can avoid sellers who are charging too much and also work with those who are offering genuine deals on their supplies.

Take Control of Your Ordering

It can be very very easy to put ordering supplies on your dental assistant or on another member of your team, but you need to monitor and manage your money. Even if someone else is writing the checks, it is okay for you to monitor them and hold them accountable if they mess up. 

If you set good expectations and tell your team what good deals are and what good deals aren’t, then you can save money and prevent mistakes or prevent overpaying on your orders.

Finally, allow your team to look in on comparison vendors and look for alternatives to brands you are already buying from. While you might want to stick with a vendor or a certain brand out of loyalty, you might also find a better deal looking elsewhere for handpieces in dentistry or other supplies. 

Know What you Need

This is another part of having a sit down with your business and your budget, because you might run out of items faster than you think, or you might be over ordering something and not even know it. While it is nice to have some extras in case of emergency, knowing just how much stuff you are using every month can help you manage your budget. 

Being able to evaluate your supply usage and make changes accordingly can save you a lot of money in the long run, so don’t be afraid to make those evaluations and make those calls. Make sure that you or your staff is keeping an accurate inventory of what is being brought in, what is being used, and what is just sitting on the shelf.

Focus on Reusable Supplies and how to Clean Them

While many dental practices thrive on disposable supplies in order to keep their practice sanitary, you also need to see if their are reusable versions out there. While you will need to spend more time cleaning the supplies yourself, you will save money and also help out the planet by replacing your disposable items with ones that can be used.

You Will Find That Money can be Saved Without Quality Going Down

Instead of buying the best supplies at the biggest prices, just to ensure your dental practice has the best, you can save some money on cheaper supplies. All without the quality of your business decreasing one bit!