ABSTRACT
This chapter analyzes the secrets behind winning founders and entrepreneurs and improve chances of success. Leadership can be defined as the knowledge and skills that enable a person to use reason, power, and influence to persuade others to follow a desired course of action. The ability to raise capital, inspire confidence, and nurture a fledgling business is crucial to leader-entrepreneurs. The entrepreneur-leader is the person that foresaw an opportunity, assembled a startup team, performed proof-of-principle studies, and raised enough early-stage capital to initiate operations. Transformational leadership introduces widespread changes to an organization; invitational leadership strives to build relationships and a general sense of belonging; transactional leadership focuses on management, efficiency rules, and regulations. The Situational Leadership Model (SLM) theory states that successful leaders adapt their leadership style to the needs of the situation. The chapter describes four main qualities of effective followers: Self-management, Commitment, Competence, and Courage.
