Successful leaders need to have an entrepreneurial spirit in order to undertake innovation, control finance and have a business acumen along with social influence required to turn these into profitable economic goods that can benefit an organisation.

Entrepreneurs, on the other hand, do not need to be good leaders as long as they recognise the value in successfully executing tasks required to establish and grow a “start-up business”.

I believe that entrepreneurs are born and not made, furthermore they can grow and learn to become effective leaders and experts in delegating work. However leaders have charisma, often born with, that needs to be shaped to match their characters within their field of expertise but are not born entrepreneurs which is a skill rather difficult to teach. Consider this: How do you teach someone to take risks and spend a few moments of their lives out their comfort zone in order to achieve the success they so ought to have?

Entrepreneurs need to recognise their talents and limitations and recognise those of others required to help transform their innovation into tangible business profits – one fact could be hiring an academically proven leader to run through structural changes of an organisation under the guidance of the riskier entrepreneur whose innovation requires disciplined implementation. Serial entrepreneurs start several businesses, succeed in some or fail in others.

Those that succeed groom leaders to pursue their innovative ideas. Steve Jobs could be considered a serial entrepreneur (or rather an intrapreneur) for his several innovations within Apple that helped grow the business.

Whether you’re a leader or an entrepreneur, a good assessment of who you truly are, is key when you need to hire the right person to take your business or company to the next level.