04 Sep Are you leading a business? Or do you just own a business? – Part 2
Previously I wrote about the critical difference between owning and leading a business. As a Business Systems Coach, I emphasised how daily operations often overshadow strategic growth, causing owners to lose sight of their original vision.
I discussed the pressures faced by business owners and the risk of feeling trapped rather than experiencing the freedom that initially motivated their entrepreneurial journey. I highlighted the importance of defining leadership and outlined ten benefits of effective leadership, including increased inspiration, goal achievement, and work-life balance.
Below, I explore how to develop and implement leadership qualities, suggesting that success requires a unique blend of skills, mindset, and traits. Here are ten attributes which, in my experience, are common to successful leaders…
- Ego
Ego is often perceived negatively but entrepreneurs definitely need a bit of it. You don’t have to be arrogant, but you won’t get far without self-confidence and a belief in your own abilities. That’s often the difference between success and failure – a self-fuelled determination to overcome obstacles and make bold decisions.
- Creativity
To spot a gap in the market and build something meaningful, entrepreneurs are often natural creators. Solving the many problems and issues that fall your way when you’re a leader often requires an innovative approach. Also, turning challenges into opportunities often leans into a creative way of thinking.
- Tenacity
Give up when the going gets tough and you’re done as a business owner, it’s as simple as that. Good leaders understand failures are part of the journey, setbacks are stepping stones to success. As an entrepreneur, you can need to rely on your tenacity when things get really bad, as they often can.
- Adaptive
If ever you start to think you’re on top of things, something else comes along to knock you off your perch. It could be a competitor, the loss of a key member of staff or a change in personal circumstance. A good leader has a flexible mindset which keeps them out in front.
- Systems thinker
Systems are always at the core of a successful business, often allowing it to run smoothly even when the boss isn’t there. Leaders with a big picture view develop processes and structures that promote growth and long-term success. Put the right systems in place and you’ve got the key to enjoying the freedoms we were talking about earlier.
- Collaboration
Partners, mentors, coaches and advisors are crucial when you go out on your own. Why would you not lean on the experience of someone who’s either done it before or helped scores of other people succeed? Good leaders know that the expertise and support of others means they can give their growth a boost, gain new perspectives and overcome challenges. SurroundIing yourself with talent where possible is key to your collaborative efforts too.
- Values-driven
Money’s important yes, but values are absolutely crucial to the success of your business. Good leaders align their businesses with their personal values.This not only leads to a positive company culture, it also brings in loyal customers who share similar values.
- Financial acumen
It’s easy to bury your head in the sand when it comes to making the sums add up but that’s never, ever the answer. Successful small business owners know how their cashflow’s doing, they’re on top of their outgoings and they know when they have to pull back on expenditure.
- Impact-oriented
Successful entrepreneurs have an impact beyond profit. They are driven by a genuine desire to make a positive difference in the world.They seek to solve challenges in their communities, improve lives and create a legacy that extends beyond their own success.
- Grafter
To enjoy the freedoms, successful business owners know they’re going to have to put the graft in. You can’t have one without the other. Taking an afternoon off or enjoying a long weekend comes at a price of long days and some very unsocial hours.
Do you have the attributes to be a successful business leader?
Embracing these attributes can be the difference between working hand to mouth and laying down real foundations for growth. Look around you, your partners, your collaborators, the last networking event you attended. I bet you, there was more than one or two people in that room, that have these attributes…I bet you do too.
It goes right back to childhood and all the creative ideas we came up with then to get things done, however out of this world they appeared. That drive is in us still – even as adults. Our natural curiosity can push us past obstacles and dead ends.
Facts and logic will only take you so far. Your intuition and gut instincts are so important when it comes to being a good leader. Trust yourself, back yourself to succeed, remember the 10 attributes above and you’re well on your way to building something special.
Three things to go away and do
I want to leave you with three action points…
Firstly, watch this clip. It talks about the Action Centered Leadership theory of John Adair, a British leadership theorist and author. Adair talks about the importance of continuous learning and development for leaders, as they must adapt to changing circumstances and continuously improve their leadership skills. I think that’s a very fair point and I’d love to know what you think.
Secondly, have a look at this clip. This one spells out the theories of US psychologist Daniel Goleman who suggests there are six leadership styles that leaders can employ and he also talks about why mindfulness is especially critical to good leadership.
Thirdly, ask yourself this question – what does leadership mean to you?
In answering, try to think about how much you have to guide your team, how well you communicate your vision and how many of the ten attributes above you display on a regular basis.
The answers to those questions will tell you how you’re doing as a leader – and what areas you might need help with.
Whether you’re looking to take your business to the next level, start again with a fresh approach or if you just need someone to keep you accountable, I can help. Book a free discovery call with me by clicking here and let’s explore how coaching could accelerate your growth.