8 Leadership Development Tips for Entrepreneurs

A man talking over the phone.

Entrepreneurs are often expected to have all the answers, but that’s not always possible. The best leaders learn from their mistakes and don’t make the same one twice. They also know when they need help from others, so they’re not afraid to ask for it. If you want to be a better leader, here are 8 tips to help you do it:

Don’t be Afraid to Say “I don’t know.”

Successful entrepreneurs don’t pretend that they know everything. Instead, they are open to the fact that there will be something new to learn every day and they embrace it. When you’re a first-time entrepreneur, it’s normal for your skillset to be limited. You may be competent in some areas like finance, but have no clue how to handle marketing or customer service. That’s okay. Good entrepreneurs can admit when they don’t know something and then seek out help from people who can assist.

Learn to Host Effective Meetings

Hosting meetings is an art form in and of itself. You need to know how to lead a sales meeting, conduct one-on-ones with your team, and also how to lead a team meeting. You’ll need to know what makes an in-person meeting effective, and when to do them, versus when to use virtual meeting tools. Hosting a remote meeting takes a different approach to ensure that everyone is engaged and can easily participate.

The Art of Delegation

The art of delegation is one of the most important things for a business owner to master. It can be extremely difficult at first, but it’s vital to your company’s success that you learn how to delegate tasks effectively. Delegation is all about assigning work to other people. You share responsibility with your team or with contractors to ensure that all the work gets done and you don’t have to bear the burden alone.


Open up the lines of communication. Your team needs to know that you are available to answer questions and to direct them when priorities need to shift. If you want to foster a sense of community and trust in your team, it’s important that everyone feels comfortable approaching you with questions or concerns if they need to. This also improves employee satisfaction.

Model the Behavior you Expect

One of the best ways to teach a leadership skill is to model it for others. When you want your team members to be more creative, be more creative yourself. If you want them to be more accountable, be more accountable yourself. If you want your managers to be present with their teams, then be present with your teams.

Be Honest About Your Strengths and Weaknesses

It’s important to be honest with yourself about your strengths and weaknesses. Know what you are good at and be open about the areas where you need to improve. Being honest about your weaknesses can help you grow as a leader and as an individual. On the other hand, being open about your strengths can also help others feel inspired by you and motivated to learn from your example. Lean on your strengths and find people who are skilled at the areas where you’re weaker.

Ask for Feedback

The best way to develop your leadership skills is by asking for feedback. Get input on what people think about your leadership skills, the business you are building and the team that you have assembled, and the culture of your company. If something is out of alignment with your intentions and goals, this feedback can be critical to get you back on track.

Be a Confident Leader, Not a Controlling One

What does it mean to be a confident leader? To me, it is about being comfortable in your own skin and in the role you play. It means taking responsibility for your mistakes but also recognizing your strengths. As an entrepreneur with no employees at first, you had complete control over everything. You made all the decisions, you did all the tasks, and you made sure it was done your way. When you hire a team, you’ll need to be confident in your decisions, but not be controlling over how others do the work. As long as they are meeting the outcomes you need, let them work their way.

About Carson Derrow

My name is Carson Derrow I'm an entrepreneur, professional blogger, and marketer from Arkansas. I've been writing for startups and small businesses since 2012. I share the latest business news, tools, resources, and marketing tips to help startups and small businesses to grow their business.