8 Useful Tips to Help Entrepreneurs Become Effective Leaders

leadership

At the top of any thriving organization, there’s a good leader. All organizations – from the smallest to the most valuable – need someone who can make the important final decisions and who can take responsibility for those decisions. Also, as you probably are already aware, morale in an organization is not generated by the worker on the floor. It has to filter down from the top. The workers in an organization will tend to have the same attitudes and views as those of their leaders.

As an entrepreneur, how your lead your team is one of the major factors that will determine your venture’s level of success. Here are some useful tips to help you become a more effective leader.

Sell Everyone on the Vision

The daily mechanics of building a business can be boring and uninspiring. However, the idea of building towards a grand vision is inspiring and can get your team to give more towards the organization’s cause. It is your duty as the leader to sell the organization’s vision to your team.

Don’t make the mistake of confusing a vision with a goal. A vision is grand ideal in the future that is hard to break down to numbers and figures. A goal, on the other hand, should be measurable and specific. It is easier to motivate people to work towards a grand vision than a specific goal whose mystery and glamour is lost in facts and figures.

Measure Performance by Action towards Results

When left to their devices, the average person resorts to doing what feels good. In the world of business, what feels good is not always what gets you results. Movement does not equal productivity. As the leader, you want to define the targets your team has to achieve and make sure the actions they are taking are the most effective paths to the defined targets.

Technology now makes it easier to track and measure almost every metric in business. From purchasing procurement management software to web analytics software, you can now gather all the data you need to track and measure performance with tremendous ease.

Be Fair but Firm

You want to be even-handed when you are dealing with your subordinates. Nonetheless, you don’t want to appear weak since very little will get done when the final authority can’t hold anyone accountable for their actions. You should be firm when it comes to ensuring that your employees meet their targets and stick to organizational values.

Let Your Actions Speak for You

It may sound cliché but you actually need to lead by example. It is a cliché because it is time-tested wisdom that works. As the leader of your organization, your character and work habits will influence the character and work habits of everyone else in your organization.

As stated earlier, morale in an organization filters down from the top. Further, by being a decent worker yourself, you will have the moral high ground to hold your team accountable for the actions.

Learn the Art of Hiring and Firing People

An organization really isn’t an organization without people. As a leader of your organization the buck stops with you and the people you hire will be an accurate representation of the kind of organization you really want to build. While you don’t have to like the process, you have to get comfortable with the fact that you will be hiring and firing people.

A bad employee can derail the performance of an entire department. Learning how to spot and get rid of bad hires is an art that will save you a lot of money and time in your life as an entrepreneur.

Seek Leadership Mentors

A great mentor will inspire you, help you learn about your weaknesses, show you what’s possible, help you avoid rookie mistakes, and hold you accountable. There’s no use learning the ropes of being a great leader from scratch when you can seek guidance from those who’ve already been in your position. In the rare situation where you can’t find anyone to mentor you, it is perfectly okay to turn to books of proven business leaders for guidance.

Acknowledge Your Failures and Shortcomings

You are human and you are going to make a lot of mistakes as an entrepreneur. Some of the mistakes you make may rub your team the wrong way. Having the maturity to acknowledge your failures and the fact that you may have wronged your subordinates is a mark of great leadership. This act also makes you relatable and approachable thereby strengthening the relationship you have with your team.

Master Communication Skills

What kind of leader would you be if you didn’t communicate with the people you lead? Communication is more than telling your subordinates what they need to do and checking in on them to see how they are doing.

You have to give information and be open to receiving information from your team, encourage differing opinions, learn to ask the right questions, and learn the skills to navigate both one-on-one and group communications effectively.

Just one effective leader can change the course of an entire multi-billion dollar multinational. That’s why organizations in decline look for just one person – a CEO, president, or MD – to help them recover. The importance of the skills, attitudes, and values of the person in final authority cannot be overstated.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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