According to one study conducted by the Centre for Creative Leadership, 40% of the new leaders fail within the first 18 months! Now, you might be wondering whether success as a leader in a business is that hard. Frankly, it has its fair share of challenges but it is doable albeit with the right leadership qualities & strategies. Speaking of the right qualities, here are some of the key traits that will help you thrive as a business leader.
Ability to communicate effectively
Creating an open line of communication with your team members is one of the essential elements of effective communication. You should be open and straightforward with your employees and other stakeholders. It would help if you let them know the organizational decisions you are making. This encourages them to know what they should do and how they can contribute to the process.
As a great leader, you should be able to customize your interactions and communication styles to suit each team member and situation. It means that you will need to figure out which team member prefers communication mode. For example, some prefer official communication to be made through texts, in-person, email, or voice calls. Once you understand the various preferences, it will be easier to pass crucial messages.
Understanding the evolution in the business world
A modern leader understands that the workplace is constantly evolving. The traditional ways of conducting business have faced significant competition from diverse and dynamic methods of the present day. For example, a decade ago, letter writing was a supposedly official and reliable method of passing communication. Fast-forward to today: crucial business messages are effectively relayed on WhatsApp and email, and other social media platforms for personal communication.
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Besides, people used to work from a central location in a massive office and called that work.
Today, people can use technology to work remotely from anywhere across the globe.
As a leader, you need to understand the dynamics of the business world and the role of technology in disrupting the traditional business sphere as we knew it. You will encounter different generations who have grown in the age of technology. Of course, their modus operandi is different from the conventional and formulaic work. This is where the ability to understand the evolution of business and finding ways to fit into the new and dynamic systems will make you a better leader!
Willingness to learn
In today’s rapidly changing global economy, willingness and readiness to learn are key to success in leadership. Again, remember there are new ways of doing business created each day. Also, different target audiences demand different approaches to participate in your business.
So, how do you keep tabs on the new knowledge and discoveries in the business world?
The secret is to keep replenishing your knowledge and leadership skills.
A good way to do this is by taking up periodic coaching and leader mentorship programs. For example, you can participate in executive coaching tailored for business leaders. It will help you develop your personal skill sets to keep up with the dynamics in business. The right programs will also help you forge the right networks to accelerate your business growth.
Encouraging professional and personal growth
Just as you strive for your own personal growth, being your team’s cheerleader is also an important part of being a good business leader. Encourage your team to also scale up the ladder in their career. You can even set aside a budget and dedicate it to the growth of your employees.
For example, you can empower them to learn new skills and pay for their training programs. Besides, you should invest in their emotional stability and growth. There are common challenges that they go through every day in the modern world. You should be in a position to guide them in overcoming the challenges and learning from them.
Creating a connection with your team
Leading your team effectively requires a mutual sense of trust and understanding. In order to achieve this, you should be in a position to connect with them effortlessly. Leadership consultants agree that you require positivity, purpose, empathy, compassion, humility, and love as a leader. These traits will help you stay connected with your team members at a more humane level. What is the importance of the connection, anyway?
Well, building a real, personal connection with your team members is vital in developing the shared trust necessary to build a strong culture of accountability and exceptional performance. It will help you achieve a successful business.
Building a connection with each of your team members focuses on getting to know their personality, interests, strengths, weaknesses, hobbies, and preferences. You will also be able to allow your employees to develop autonomy and add value according to their strengths.
Keeping a positive attitude
Although you might wish that your daily operations run smoothly, there are days when they are bound to fall into obstacles. This could be a minor miscommunication or major error. However, handling the situation is what matters and says a lot about your leadership skills. One way to keep a positive attitude is to look for a silver lining in every dark business cloud. For any error that might occur, you should look for at least three positive things before leaning towards making the situation dissatisfied. The more you look at the positive side of a problem, the more you will positively interact with your team members.
Encourage your employees to look for things that they are happy with within problematic situations. Do not feel so strongly about the problem. Hence, you will be able to think clearly and come up with solutions. If you find out that a remedy you have taken is not working, don’t hesitate to ask for help where you can.
In a nutshell
The business sphere has radically evolved, particularly over the past decade. Well, being a good leader means that you should be ready to roll up your sleeves and take on the dynamics. This is why one of the secrets to success as a leader is to keep honing the right qualities!