No matter what type of business you run - whether it be a start-up, established SME or large business - all great business owners possess certain qualities which help them lead their team to success.
If you're a business leader, whether you own the company or not, do you have any of these characteristics?
A great leader...
1. Adapts to Change
Change is not a bad thing. It's human nature to feel a little uneasy when it comes to things around us changing, however, in business we must adapt to these changes. A great business leader will quickly adapt to changes, and lead from the front when convincing employees that change doesn't have to be a bad thing. Whether it's organisational change, external changes in the market or business environment, great leaders will take these changes in their stride for the benefit of the business.
2. Doesn't Accept Good, They Strive For Greatness
Many businesses aim to be 'good' at what they do, but great leaders will strive for greatness and never stop looking for ways to improve their business. Innovation is the key to progress within any marketplace and great leaders will push for continuous development within their business. Anything you can provide, which another business doesn't, is an instant benefit. As Steve Martin said, "Be so good they can't ignore you".
3. Communicates With Their Team
Communication is a key factor in success. A leader who can successfully communicate can ensure that their whole team is working towards the same overarching goals - making processes more succinct. Teams who are afraid to confront their 'leader', whether this is the owner of the company or just the head of the department, will often have innovative ideas that they are not confident enough to express. Having open and honest communication not only helps day-to-day business but helps inspire innovation in the longer term.
4. Delegates To Their Talented Team
Great business leaders, despite what you may think, do not do everything themselves. Delegation is a large part of being a good leader, as you delegate to those best equipped to do the task in hand. This also gives a sense of empowerment to the team as they feel trusted to make important decisions. It also allows for an alternative way of thinking about each task - this may lead to an employee working out a more efficient way to do something, or again, may spark innovative thinking.
5. Learns from Failure
Business leaders must show their team that they are not afraid to take risks, but more importantly, must be able to learn from failures when risks do not pay off. There are lessons in every mistake and business leaders must be at the front showing that they can see what should have been different, working on strategies to overcome difficulties. Giving up in the face of adversity will not inspire confidence in the rest of their team.
6. Has the Ability to Spot Talent
There will always be a base team, who are favoured due to their commitment within the organisation. But great business leaders should always want to surround themselves with innovative thinkers and great minds. For business owners, personally hiring team members can be key to ensuring they align with company values, but more importantly, it's vital to scout talent that improves the overall skillset of the team.
7. Has Self-Awareness
Self-awareness is an important quality in any great leader. It allows you to work on your weaknesses, developing them into strengths. Personal development of yourself and your team is what will make your business strong in the longer term.
8. Is a People Person
Being a people person in business is very important and although business leaders don't have to be best friends with everyone, being approachable and working as part of a team helps in becoming a great leader. Allowing staff to confide in you and making your team feel valued often leads to a hard working, loyal team in the long term. Remember, respect is earned.
Consider yourself a good business leader? Which of these qualities do you possess?
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