7 tips to becoming a great business leader

As a business leader, you recognize your basic mission: to grow a sound, financially successful company that creates you proud to be its owner.

The truth is, though, success on a company level depends on your team. To help them become the best they can be – and successively benefit your business – you need to think beyond the bottom line. The best learning is face to face. Everyone in a leadership position hopes to become a great business leader some day.

great business leaderHere are seven tips that will propel you to becoming a great business leader.

1. Do what’s right for your people.

When it comes to handling people, there are countless scenarios that are in the grey area, but there are plenty that only think in black and white. When the latter presents itself, let the decision always be in favour of your people.

Reward the worker who’s gone above and beyond; back someone who’s made an innocent mistake; and increase freedom if deserved.

The grey area can be hard to judge. A great business leader knows when it is time to put an arm around the shoulder and when to come down hard. This is the line between personal and professional. You can offer your worker a Betfred casino bonus as a reward for their hard work, it is a personal gesture to give such a discount. But as it is unlikely to affect your professional relationship it is a decision that toes that grey line.

2. Adopt “the window and the mirror” concept.

In his book “Good to Great,” author Jim Collins writes about the concept of the window and therefore the mirror. A great business leader looks out the window to offer credit when things go well. They rarely seek to require credit, preferring instead to travel out of their thanks to recognise others on the team whose contributions have driven the results. When mistakes happen, the foremost successful leaders tend to point towards the mirror and take the brunt of the responsibility.

3. Take responsibility to pass down knowledge.

No one makes it to a prominent leadership position without the assistance of countless others along the way. Whether it had been the stand-out coach who taught you what it meant to be a member of a team in your childhood, the professor who first got your attention about entrepreneurship or your first boss who showed you the ropes, someone put the time and energy into helping you become who you’re today. Great leaders pay it back. They also realize that for his or her organisation to still move forward, it’s critical to develop a deep roster of future leaders.

4. Be a source of inspiration and positivity.

A great business leader makes everyone around them feel good about their involvement with their organisation. They help create an environment where nobody is in it only for themselves because they’re a part of a bigger cause. This is a by-product of an innovative, happy team.

Every organisation should hunt down contributors that are naturally self-motivated, but that doesn’t mean that motivation should come as an afterthought to them. An inspired team may be a team which will overcome unexpected challenges and disruptions. Conversely, an uninspired group most definitely will not.

5. Make course corrections.

It is rare for a real-life business plan to be executed precisely the way it appeared on the first draft. Life happens, and you would like to form adjustments. Effective leaders know this and don’t get so married to any plan that they aren’t ready to adapt as required.

6. Don’t shoot from the hip.

As explained in point 5, route adjustments will become necessary. Always make strategic adjustments, however, with careful consideration, weighing out the implications of the move. The further you get up the leadership chain, the more reverberations your decisions make. It is impossible to count the number of times a strategic adjustment has been made with one department’s or group’s best interest in mind, only to possess some undesirable, unintended consequences on another group.

7. Don’t forget where you started.

A great business leader doesn’t start out at the top from day one. It’s a process of years and years of hard work. As a person who has been charged with the responsibility of directing a whole organisation, never lose sight of where you came from. Never forget what it had been like once you were during a junior position with the starter salary and title. Keeping this in mind will assist you to know the challenges your team faces and the way to best put them during a position to succeed.