There are times to lead and times to manage. It is important to know the difference between leadership and management. Leaders and managers are distinctly different roles. Many companies err because they don’t understand the difference between a leader and manager. Leaders fail when they manage instead of lead, and managers fail when they lead in situations that demand management. Whether you are a leader or a manager, there is no substitute for experience. Companies both early stage and Fortune 100 have crashed down in flames because they failed at knowing who should be the leader and how projects should be managed. Leaders and managers are distinctly different roles. Great leaders are benevolent dictators. http://unapologeticcapitalist.com/benevolentdictator/ Managers supporting this leader should be a competent lieutenant to implement the vision as it best serves the long term value of the venture. Leaders and managers are different people…though managers can grow into leaders. Effective Leaders: * Are stewards of the vision of the venture * Have a primary focus of maintaining the optimal path toward the long term value of the venture * Have significant experience. There is NO substitute for experience * Inexperience and immaturity lends to disproportionate focus on granular level tasks and issues. Value is diminished from the venture. * Wrong leaders can be experienced in another company during another marketplace, but that doesn’t necessarily translate into success in another venture in another time and marketplace. Effective Managers: Experience is Also Without Substitute * Are focused on risk mitigation and milestone accomplishment. * Have a primary focus on implementing the tactics that serve the vision that the leader has well articulated as it best serves the long-term value of the venture. Good Leaders & Managers Have These Things in Common: * They recognize the difference between needs and wants for themselves and those who work with and for them…and always prioritize the needs over wants * They know the difference between liking those who work with them and for them versus being liked by those same people…and they don’t prioritize being liked. * Leaders and managers must be aligned * Leaders and managers must have a symbiotic relationship Be a benevolent dictator http://unapologeticcapitalist.com/benevolentdictator/ * The managers under this benevolent dictator should be a competent lieutenant to implement the rule of the leader as it best serves the long term value of the venture