Getting teams to succeed
One of the most critical traits of leadership is, having the courage to set out a vision for long term success that inspires the team to complete daily task and achieve set goals.
Business Management and Leadership
Business management requires running an operation that produces products to be delivered to paying customers. To achieve this requires managing a delivery system staffed by people who are capable of working productively. Task like making payments, meeting sales targets and providing customer service can all be carried out by professional managers.
Business leadership on the other hand focuses on setting the long term vision. Leaders have to make sure the business is headed in the right direction while daily task are performed profitably. Leaders need to know about industry developments, social changes and economic factors that can impact the business.
Leadership Vision and Business Success
Planning is essential as it helps you to be pro-active and not re-active. This will help your business to outperform the competition.
Visualize the future state of your business when your ideas have been implemented successfully. Write out a vision statement that helps your managers and team members to also visualize what you see as the ideal state for business success.
Your business plan should set out a practical pathway for achieving targets and goals in the short and medium term that lead to profit. This has to be done without deviating from the direction set by the vision.
Hallmarks of Effective Business Leadership
Leaders must have the courage to act decisively. This requires self-confidence and a belief in your business vision. A sound vision has to be based on a deep understanding of your industry and the market you serve.
Henry Ford wanted to produce a car for the greatest number of people at the lowest cost possible while paying the best wages possible to his employees. He succeeded because he had a clear vision, a deep understanding of the market and the possibilities of the automobile industry.
To give your team the confidence to perform effectively over the long term, share your vision with them. Your confidence will grow as you hear yourself explaining your vision in a manner that encourages a buy in.
An effective leader delegates task while remaining in control of the business. Get competent and qualified people to carry out specific task. Delegating powers to team members can build trust and confidence in your leadership.
But, always remember that as leader, you can delegate powers but not responsibility. This requires establishing feedback channels that allow for timely reporting back to you. This is to ensure that the business is managed and operated according to the agreed plan of action.
Effective business leadership requires a willingness to continually learn. It is a good idea to engage consultants periodically to provide an objective review of your business plan as business practices change and markets evolve. This can stimulate fresh ideas and innovation that increases competitiveness.
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