“The owner-manager can be reluctant to professionalise, perhaps due to a perceived loss of control as a result. On the other hand, a corporate sees this as an essential priority in order to co-ordinate activities to get to the lowest unit cost of production. The entrepreneur tends to be much more interested in the excitement of the pursuit and the development of new ideas, rather than putting ‘boring’ processes in place. However, the opportunity to pivot and the ability to pivot are not always connected. While a small business can go in any direction with shorter, even immediate timelines, if it hasn’t professionally integrated its methods and processes – and now I’m obviously generalising – the financial and time space for the owner-managed business is restricted.”
