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FROM THE FOUNDER
I f you have worked with as many AEC firm owners as I have (and Zweig Group has) over the past 40-plus years, the stark differences in how entrepreneurial firm owners think versus small business owners think would be very apparent. Entrepreneurial firms adapt better to a changing environment, are better places to work, and build significant value over time that can be harvested. Entrepreneurial vs. small business thinking
Entrepreneurial firms grow. They adapt better to a changing environment. They are better places to work. And they build significant value over time that can be harvested. Let me illustrate some of the specific differences below: says growth is required. Yes, profitability is important, but growth is where the value of the business and excitement is, and cannot be sacrificed or rationalized away. Small business thinking says profit is most important because it has an immediate effect on how much money the owners can extract from the business in the short-term. ■ Thinking about growth. Entrepreneurial thinking
Everyone should be a part of it and it should be something that actually guides daily decision- making. Progress toward goals is serious stuff. It’s not just an academic exercise that is done some years when there is time, and sits on a shelf when done like small business thinking requires. ■ Thinking about innovation. Entrepreneurial thinking says having “new” is a requirement and they are constantly trying to add new skills, services, and offerings. It requires constant experimentation and they insist that that actually happens. Small business thinking says “stick to your knitting” and don’t worry about pushing yourselves to evolve. ■ Thinking about people. Entrepreneurial thinking says you have to invest in your people. Low
Mark Zweig
Thinking about business planning. Entrepreneurial thinking says planning is crucial.
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See MARK ZWEIG , page 6
THE ZWEIG LETTER MARCH 18, 2024, ISSUE 1529
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