Respecting your position, valuing your staff and being passionate about your business are characteristics of good leadership. However, some CEO's get lost in the passion, unintentionally hampering productivity and closing off opportunities for improvement within the business.
Just because you have the top job, doesn't make acting like a tyrant in the office acceptable.
Micromanaging sends the message that you, as the business leader, are focused on only one particular way of thinking.
Instead, encourage your staff to make autonomous decisions. Show them you respect their opinions by inviting them to share their own insights and ideas.
When you give staff the freedom:
they need to feel empowered professionally,
they will automatically do what they are good at, creating a positive and productive workplace.
Aim to hire staff to fill the skill gaps in business; those who can contribute what you cannot.
In any business, there are three main types of people:
Connectors are great sellers and problem solvers, always knowing whom to talk to and when.
Creators are the dreamers and visionaries, who are passionate about the business and have big dreams for it.
Work out which qualities and skills are important for your business and hire staff accordingly.
Businesses that are closed off to the idea of change and aren't flexible are limited greatly. The businesses that cannot adapt to changing environments are the ones that fail.
Being open to change is key to laying the foundation for a successful business.
As a leader, you should always trust your gut and lead with decisiveness. When you doubt yourself, your business weakens, and staff can lose trust in you. This however does not constitute egoism in the work place. A study from the United States suggested that narcissistic CEOs have a sense of self-entitlement, low empathy and often make more impulsive and risky decisions.
Judging staff, clients and customer's limits business.
Often business owners will evaluate the likelihood of the client or customer spending money e.g. "they're not our customer profile" or "they will never spend money here". This instantly drives away business with a negative mind-set. When you make judgements like these, you drive away business, regardless of whether you make the feelings heard or not.
Putting unrealistic and unnecessary pressure on your staff, whether this is through deadlines, verbal meetings or delegating tasks inappropriately is a guaranteed way to lower the performance of your business. Setting reasonable timing, ensuring you have set clear expectations of your staff and going for the "quality not quantity" approach is key when it comes to task assignment.
Not being overloaded at work ensures staff are able to perform at their best and don't feel stressed. Creating a positive workplace boosts productivity.
It is okay to say, "I don't know" and "I don't know that right now, let me go and find out."
It's great to feel confident in a management position, but making snap decisions might make you appear like an expert but can lead to expensive and time-wasting mistakes.
Keep the trust of employees, and take the time to really consider options. Be sure to do your research before making important decisions.
I will leave you with a quote by Sir Richard Branson, CEO of Virgin Group:
"To me, business isn't about wearing suits or pleasing stockholders. It's about being true to yourself, your ideas and focusing on the essentials."
If you'd like help with planning for your business, let's have a chat.
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