An entrepreneur does not run a business with his or her acute business acumen alone: it comes with leadership skills.
Here are 10 leadership traits for entrepreneurs:
- Be a good example. Startup leadership entrepreneurs must be able to lead his or her business by example. Coming to work early and leaving the workplace late could send a message to the employees that their employer works, too. His or her work ethic must encourage others to follow his or her lead.
- Exude confidence and optimism. A startup deals with what can be called a “baptism of fire.” There are challenges that a startup hurdles as it goes through the crucial first year of operation. In these trying months, an entrepreneur must exhibit confidence and optimism to encourage his or her staff to also believe in the company and the product or service. It is bad marketing for the company if an employee is himself or herself a non-believer.
- Be a doer. An entrepreneur does not only deal with paperwork and financing of the business; he or she is also ready to roll up his or her sleeves and ready to do the work.
- People are your asset. A successful entrepreneur knows that his or her greatest assets are people. A successful entrepreneur surrounds himself or herself with good-quality employees and experts. He or she values the opinions of his or her employees. He or she treats them as family, not servants.
- Be tech-savvy. Every entrepreneur these days must be tech-savvy: must be able to do business using mobile devices, network with peers through Facebook, LinkedIn, Twitter, Instagram, among other social media; must recognize that business must conform with the sweeping changes in technology and employees must be attuned to these changes; must understand that the use of some applications or softwares could lead to better efficiency and productivity at the workplace.
- Education is key. A successful entrepreneur sees the values of education; he or she constantly sends his or her employees to trainings to keep them highly skilled.
- A leader commands respect. A successful and good leader not only commands respect but also inspires people.
- Communication is important. No successful entrepreneur shuts down the lines of communication to his or her staff. Through a healthy conversation, an entrepreneur understands what his or her employees’ needs are and what they believe would make the business succeed.
- Share blessings. A successful entrepreneur knows that the key to longevity in the business is getting the community to support his or her business. As a token of appreciation, an entrepreneur always has the best interest of the community in mind. He or she sees the community as a partner in building the business. Some big companies take their social responsibility seriously. A startup enterprise must see this responsibility as important early on, too.
- Take calculated risks. A successful entrepreneur knows how and when to take calculated risks. He or she makes an informed decision before taking on any risk.
A successful entrepreneur knows that leading a business requires the right blend of character, business acumen and motivation to make the business succeed.
Originally published April 13, 2016.