It’s your dream to have a successful business. This need to achieve success motivates you to follow the right process to get there. You invest time, energy and money into the business to build a sustainable business model. You create sought-after products and/or services and hire the dream-team to deliver and to take care of the customers.
In theory this should be a winning recipe for success, but it isn’t. There is one thing that so often gets overlooked, and that is how you as a business owner lead your business and team.
You can have the best products and services, the most skilled individuals on the pay-roll, the perfect model, but without your leadership, the business cannot be sustained. A business cannot successfully operate on auto-pilot, it must be driven by you the business leader.
What does this mean in practical terms? How do you lead your business well?
- Visionary Thinking: A good leader has a clear vision for the future and, very importantly doesn’t keep it to themselves, but is able to communicate this vision consistently and effectively to inspire and motivate their team. Good people want to be lead, they want to be working towards a goal that is bigger than themselves, to be part of a collective vision. It is the leader’s role to provide that clear vision to all.
- Effective Communication: Good leaders are excellent communicators. They listen actively to seek understanding, provide clear instructions, and ensure that there is open, non-judgemental and honest communication within the team. They keep everyone informed and aligned with the business objectives. Good leaders know that effective communication builds trust, which is an essential component of a strong business foundation.
- Integrity and Ethical Behaviour: A good leader acts with integrity and maintains high ethical standards. They lead by example, demonstrating honesty, fairness, and accountability in all their actions. They do the right thing, even when no one is watching.
- Empathy and Emotional Intelligence: Understanding and managing one’s own emotions, as well as empathising with others, is crucial for a good leader. They are able to build strong relationships, manage conflicts, and create a supportive and inclusive work environment.
- Decisiveness: Good leaders make decisions confidently and promptly, even in uncertain situations. They gather necessary information and include specialist within the business if required. They weigh up the pros and cons, and they always take responsibility for their choices, learning from and sharing any mistakes with others. No blame, no judgement or denial.
- Adaptability and Resilience: In a constantly changing business environment, good leaders are adaptable and resilient. They embrace change, stay positive, and guide their team through challenges and setbacks with determination and flexibility.
- Empowerment and Delegation: A good leader trusts their team and empowers them by delegating tasks and responsibilities. They provide the necessary resources and support, allowing team members to grow, develop, and take ownership of their work.
- Continuous Learning and Development: Good leaders are committed to their own personal and professional development as well as that of their team. They seek out new knowledge, skills, and experiences, and encourage continuous learning within the organisation. The goal is to build a learning organisation, where knowledge and skills are not lost when someone leaves. That information is passed down from one person to the next, ensuring not only that the knowledge is maintained, but that all individuals are operating confidently in their roles.
- Collaboration, Inclusion and Team Building: A good leader fosters a collaborative work environment where teamwork is valued. They build strong teams by recognising individual strengths, promoting cooperation, and ensuring that everyone feels valued and included.
- Results-Oriented and Accountable: Good leaders are focused on achieving results and hold themselves and their team accountable for performance. They set clear goals, monitor progress, provide feedback, and celebrate successes while addressing areas for improvement constructively.
None of the above points have anything to do with financial models, product development or marketing strategies. These points are fundamental in achieving your success. I believe that once business owners understand the importance of being great leaders, only then will they run exceptional businesses.
What do you need to start working on to become a good leader within your business?
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