Every aspiring business person wants to learn from successful people who came before. Running a successful business, on the other hand, requires dedication, passion and patience.
No matter how successful a business is, there are ups and downs that we may not see. These are the things that go on behind the curtains. What we as outsiders don’t see.
If one could unfold the business’s entire operations you would know there is more to the success than what meets our eyes.
It is often advised that if getting into business is your get-rich-quick strategy, you might as well quit right now. If you are not willing to go through the process, then let go before you get disappointed. Successful business leaders have a few pointers that will help you thrive in your venture, which go beyond trying to access start up finance.
Traits of Successful Business People
Remember these are the visionaries behind the growth and success of a business. They are the intellect steering the company through pitfalls and rallying employees to work hard to achieve company goals and objectives. They know which opportunities to seize and prepare for whatever results.
These people have transcended beyond the titles of ‘managers’ and ‘bosses’. They have learnt to combine enthusiasm, charisma, good timing and perhaps some bit of luck. It may seem like people are born leaders but in reality, these skills can be learned and sharpened. Some good leadership traits are:
For you to effectively manage other people, you must first start by managing yourself. Learn to manage your time, set your own goals and realize them as well as taking responsibility for the outcome.
Learn to know the potential of an investment, the weaknesses and strengths whilst at the same time managing your emotional and reflex responses in every situation. Always maintain self-composure and discipline.
Today’s leaders must be open-minded and forward thinking. A good leader must always be ready to adjust their strategy to explore new opportunities and address unforeseen challenges. You can cultivate strategic thinking by;
- Paying attention to the business environment and the wider view of your company
- Have a flexible mindset towards emerging opportunities
- Have a positive outlook
- Focusing on how the future might influence your current operating conditions
Good leaders know when to listen and when to speak. They are able to effectively communicate with the employees about management decisions down to their delegated tasks. Inability to communicate means that the employees are unable to comprehend what is expected of them and they eventually fail to deliver.
You must know how to communicate on all levels at management level, both with the entire staff force and on a one-on-one basis.
Accountability and responsibility
Every good leader must know how to express power and authority without overpowering or overwhelming employees. The leader must be accountable for their actions and take responsibility for the outcomes. This means that all decisions must be productive and within acceptable limits.
Set clear and realistic goals
Set goals and embark on achieving them. Before putting the team on their set of goals, a leader will do his part. Radiating enthusiasm will give the team motivation and the confidence to do their part.
Writing down your goals is one way to keep yourself on toes. To achieve them takes time as well if the leader gives up on the goals, so will everyone around them.
Advice from Successful Business Leaders
Don’t dwell on failures
The damage has already been done, that is obvious. Spending time thinking about the failures is useless since nothing can be altered. Failures are not so bad in business; you can use them as a teaching moment. Knowing what led to the setbacks will make you better in future.
Talk to a lot of people
To run a business no matter how small or big, make sure you consult other people. Even multi-billion empires need a little direction because no one can do it all. This way you learn what skills you have and the skills you will need.
Chose experience over a title
Especially for starters, you might find yourself moving from one career to the next, industry after industry. The one thing that will pin you down is the right experience and environment as opposed to titles.
Focus on a sustainable balance
If you get into a business and you pour in your every hour and minute and do it again tomorrow, you will end up drained. Your company is not a ‘crash diet’ that you need to tackle instantly.
There will be periods of intense stress and finding a balance between your social life and the business will serve you in the long run. Running a business is more of a marathon and not a splint.
Fear is part of it
Do not let fear stop you. Nobody ever started off without having the fear of failure. Doubt is part of the process and the best way to eliminate it is to make sure you have sealed off all air holes in your initial plan.
Have enough capital, a viable plan and the right support network around you. That way, you do not purposely leave things to chance. Believe you can do it first before anyone else cheers you on.
Learn to interrupt
Having an open dialogue set up in a company is a great way to facilitate communication. However, if let go it would result in being overrun or accepting ideas that are not best for the company.
As a leader, you must know when to step in and at the same time do it tactfully. It is especially hard for women in leadership because they do not want to interrupt what is being said.
Foster creativity and innovation
Be a yes person to new innovations whether they were your idea or an idea of an employee. This might become hard for leaders especially when the business is doing well.
Most leaders do not want to risk tipping off the scales when things are going well. New creative ideas and innovations might be the stepping stone to your next level.
There is a lot to emulate from successful business leaders and failing is part of the learning curve. Starting a business is not easy but the above list teaches us the traits a good leader should possess and the advice leaders have for aspiring business owners.