Today I had the pleasure of interviewing serial entrepreneur Brent Bishop, chairman of one of my favorite companies–the hip and whimsical kid’s brand, Naartjie and also chairman of the web security software company, Content Watch. Previous to these businesses he founded Greenbacks All-a-Dollar (1991), where he served as CEO and, over a 12-year period, was responsible for growing the company from one to one hundred retail stores in ten states. Under Brent’s leadership, Greenbacks was sold to Dollar Tree in July of 2003 in excess of 100 million dollars. Previous to starting Greenbacks, Brent was a co-founder of Franklin Covey (formerly Franklin Quest). When it comes to entrepreneurship, you’d probably agree with me that Brent knows what he’s talking about!
I originally met Brent when I was trying to get my own retail concept off the ground a couple of years ago and he generously mentored me and advised me on the concept and business model. I didn’t end up developing the company past a holiday kiosk, but I learned to respect even more for what he has accomplished and what he’s creating now. Today’s conversation centered around faith and entrepreneurship but before we discussed that topic Brent wanted me to understand two fundamental “types” of entrepreneurs.
The first type of entrepreneur is the Visionary, who sees the whole world as a field of opportunities and has all sorts of ideas for how to solve problems or improve things. The second type of entrepreneur has spent most of their career in corporate operations with formal training.
Brent acknowledged that most CEO’s of large companies are the visionary types–while the COO’s they hire are the operational types. The trick for the small business owner is that you might be naturally “visionary” or naturally “operational” but you have to be both if you are to get it past the first stages with a bootstrapping budget, etc. Or, if you’d prefer, you need to find a partner who has the skill sets you need and then the trick is the work together to stay true to the vision you create.
I’ve always been the ‘Visionary’ entrepreneur and as much as I want to be the ‘Operational’ type, I’m just not…so it was a total miracle when I met Michelle McCullough last year and she was interested in coming on board to our company to run the operational aspects of our company and oversee events, etc. We’re an awesome partnership if I do say so myself! I really appreciate having her support and expertise.
What are your thoughts on this? Are you the Visionary or Operational Entrepreneur? Or have you figured out how to be “both”?
I worked for Coco for almost 10 yrs before the previous owner decided to retire and asked if I wanted to take on Coco. I loved my job – which was operational and buying (creative). I took over in late 2005- and there are days when all I want to concentrate on is product development and sourcing. But because (to me) this is a start-up(even though the company is over 30+ yrs), I deal with a start up scenario- meaning it’s all me and a little support. I have the same problems and joys that new companies experience. So to answer the question, I prefer the visionary role, but do feel a great sense of accomplishment when I put my ‘operational’ hat on. Great article!
What a blessing to be mentored by such a visionary! A few weeks ago I had the opportunity to interview a best selling author Carol Tuttle. She has developed an energy profiling system that discusses so much of what your interview entails. Her philosophy is that we each have an inherent nature, no right or wrong, simply a dominant energy type. If we operate from that dominant energy type she believes we will have more success and peace, and I agree. Many of us “want to be” something we are not, if we embrace our true nature, visionary or operational, we will have more success. We need each other…we simply need to be true to who we are. Sounds like a great opportunity to meet with Brent!
.-= Carolyn´s last blog ..Episode #018 What it means to be Patriotic! Teaching Your kids to be Patriotic! =-.
Hi Kelly,
I think I’m the visionary type of entrepreneur–I’m great at dreaming things up but not so great at business nitty-gritty like accounting, budgeting, etc.
Hmm…maybe I need to find a “Michelle” for The Mogul Mom. LOL.
Thanks for the great article.
Heather
.-= Heather Allard´s last blog ..KFC: The Untested and Untasted Brand: Branding Lessons from the “f” word =-.