ENTREPRENEURS TRAITS : TEAM ORIENTED

TEAM ORIENTED

Most successful entrepreneurs recognize that they can't run their business alone. Delegating responsibilities to teams of employees or even outside consultants will not only allow the company to focus on its main skill but also will improve the efficiency of its operations.By starting a firm in a team, more issues will be reviewed. Each person has his or her own skill and therefore they are able to point out each other’s outcome. The entrepreneur could overlook information which could be crucial for success. In other words,the entrepreneur loses himself in his “own world” and possible overconfident. By starting in a team, many more issues can be reviewed, allowing the other team members to point out important issues which are overlooked by the initiator of the idea. Because a team combines more competences, it should lead to a more successful entrepreneurial firm.

As entrepreneurial teams combine skills and experience of the individual members, they are less depending upon others unlike solo entrepreneurs that may require skills from others that they lack themselves

Entrepreneurs build teams to help them expand their business. They realize that it's not easy to build a firm alone and that they have to surround themselves with talented, like-minded people to closer the gaps. And they also realize that you can get your best ideas from team members.

Peggy Swartchild and Carol Levy, are highly successful 
entrepreneurs, both independently and together. Jointly, Carol Levy are also behind the Larry and Carol Levy Institute for Entrepreneurial Practice at the Kellogg School of Management as well as Kellogg’s Social Entrepreneurship Lab.

Carol studied at Smith College in Northampton, Massachusetts until she moved to and ultimately graduated from Northwestern University. After a successful career in commercial real estate, Carol decided to put her business instincts for creative use sharpened by her experience. In 1983, she became Co-Owner of Material Possessions with Peggy Swartchild. With her creative combination of entrepreneurial spirit and imaginative thinking, Carol had made the store to expand to a downtown Chicago location.

In 1983, Peggy partnered with Carol Levy, to open a second location in Chicago within the high-end department store, Stanley Korshak. Thirty seven years later after they had made a move to their second department store, Peggy and Carol have their dream store steps away from Chicago's Magnificent Mile in the heart of Chicago's Gold Coast neighborhood. Peggy's creativity have resulted in stores full with high quality stuff, timeless pieces that not only look gorgeous, but also serve a function