Robert Reed asked:
ence of leaders on business is irrefutable. Great leaders create great businesses. Average leaders create average businesses. Leaders are the ones that set the vision. They set the tone for the organization and lay the foundation for what’s to come. Many leaders find that in order to achieve greatness they must not only bring wisdom to the table but also an air of charisma or charm. People long to find and follow someone they can believe in, someone that they trust, respect and admire, from near and from far. Entrepreneurs understand this and use their intelligence, integrity and class to speak for themselves, and make others want to speak more about them. Entrepreneurs are naturally great leaders and own successful businesses that increase in value and throw off generous cash flow. They are able to lead their companies to victory because they know the seven secrets of Leadership, which are as follows:
1. Have a Critical Eye – As the captain of your business, you must confront reality and recognize what’s working and not working and make changes accordingly. Remember Pareto’s Law – 80 percent of company profits typically come from 20 percent of the products and customers. You need to know where your 80 percent is coming from and focus on making them happy and consider getting rid of the rest of your clients and seeking more like the ones that are most profitable. Don’t worry about hurting people’s feelings or shaking up the status quo. Change is inevitable, but it is always easier to deal with if you initiate it. Remaining static in a changing market is actually riskier than actively shifting your strategy.
2. Accentuate the Positive – Focus on your business’ strengths rather than diverting attention to correct problems. As the leader, you can’t get bogged down in the minutia of the business, nor can you get distracted from the focused strategy. Delegate the task of correcting problems if you must, otherwise keep your focus on building your business’ strengths and doing what you do best be it gaining new business or creating new products or services.
3. Accept the Coming Change – We all know from the classic business fable Who Moved My Cheese that it’s best to anticipate change and move with it, but it’s a constant battle to keep you and your company from becoming complacent. Accept the inevitability of change – it offers great opportunity. By accepting and anticipating change, you can stay on top of your market. How is the economy affecting your sector? How can you reposition your product or service to stay ahead of the competition? What can you add to your value to keep it relevant?
4. No One Can Sell Your Business Like You Can – Be passionate about your business at all times. If you’re not convinced that the product or service you are providing is phenomenal, your customers won’t be either. As the head of the business, anyone you talk to is a potential client and they will either be attracted to your business by your positivity and passion or repelled by your negativity. As a leader, you are always on, so wherever you are, you must always be ready to talk the talk, business style.
5. Consistency is Key – Consistency of promises and delivery builds confidence and signifies reliability. It is always best to under promise and over deliver to your customers every time. Consistently making patrons happy is what creates loyal repeat business. How can you track and make sure that you are reliably satisfying customers? Can you put out comment cards or poll your clients without bothering them? Can you have mystery shoppers put your team to test?
6. Play a High Value on Continuity – It takes know-how to do a job well over time. Keeping employees happy will keep them around and increase your level of continuity. A high value should be put into finding good employees, training them well, clearly explaining their role and the objectives that they are responsible for and keeping them happy and thus around. If you have high turnover, ask your employees for critical feedback. This can be done anonymously for the most honest answers. It’s hard to make your customers happy if you are constantly dealing with employee loss and job dissatisfaction.
7. Keep the Faith – Replace your fear with faith, that is, belief in your ability to succeed. By working hard, pushing for superior value and customer service while keeping your employees happy, you will succeed. The path to flourishing has many twists and turns and can be scary at times. The true Entrprenuer stays strong and shows courage and determination throughout the life of their business venture. The positive people who hold on to this belief get through the hard times and make it in the cutthroat business world. Make sure that you keep the faith.