Building a thriving small business can be a tough gig. Not only do you need to worry about product management and sales analysis, but you also need to focus on the long-term prospects for your small business and whether you’re building a profitable venture.
One of the smartest ways to improve company success odds for your small business is to make it your mission to become a stronger leader for your team. When you invest in your future as a leader, you increase the chances your team and small business will succeed. If you want help learning how to become a stronger leader as a small business owner, bear in mind the following five truths from Victor Mitchell, innovative manager and successful CEO.
- )Understand your job isn’t to be your employees’ friend. While being appreciated as a thoughtful employer is nice, your job is to inspire your employees to learn new skills and become better versions of themselves. When you help your employees learn new skills, you’re investing in their future as well as the future of your small business.
- )Not every path you take as a small business owner is clearly defined. If you want to be a boss who leads their team to success, you must be willing to take risks. Whether those risks are trying new products or marketing your small business in unorthodox ways, the key is to be willing to accept new challenges and inspire your team to follow your lead.
- )One of the toughest leadership challenges you will face as a small business owner is accepting responsibility for your business failures. Admitting to your staff that you made a bad decision or exercised poor judgment can be a difficult task to undertake. If you’re willing to admit your mistakes as a boss, your staff will eventually appreciate your honesty and willingness to be vulnerable.
- )If you want to become a better leader as a small business owner, it is imperative you up your talent acquisition game. Real leaders know how to hire top team members, so there is less training needed to bring them up-to-speed with the rest of the team. If you’re a small business owner, who wants to become a stronger leader, immerse yourself in knowledge related to the human resources and talent management sector.
- )Inspiring your team members to want success for your company is the sign of a true leader. When you help your employees learn how to crave business success as an employee, you help them realize the power and perks of growing a company. You spark their enthusiasm as an entrepreneur and might even inspire them to start their own companies eventually.
Integrate these five leadership tips for small business owners into your modus operandi, and you will be impressed at how quickly you start to earn a reputation as a stronger leader. It won’t happen overnight, but by focusing on the long-term goal of becoming a stronger leader, you can help your team, and your company grow.
About Victor Mitchell:
A serial entrepreneur, Victor Mitchell has successfully founded, acquired, and/or turned around numerous diverse business ventures over the past 30 years. His ventures include interests in finance, transportation, communications, technology, building supplies, real estate development and brokerage services.
Victor Mitchell is the founder and CEO of Lead Funding, a specialty lending organization that provides innovative private financing solutions for homebuilders and developers, reducing their red tape and speeding up loan decisions.
Victor Mitchell around the web: