There is an african proverb that says “if you want to go fast, go alone. If you want to go far, go together.” It’s no wonder they came to that realization, too. It’s safer that way. It can be a rough world out there, and business is no different. As a business owner, people it’s your job to lead your team. Why? What’s in it for you? And if you do decide that you want to step up and become a better leader, what does that look like, and how do you develop the traits necessary for effective business leadership? In this article, we’ll answer those questions.
What’s In It For You?
It’s the leader’s job to take care of the pack and to make sure that everyone is safe. That sounds like a lot of selfless work. And it is, but many men and women wiser than me teach that people who spend their life serving others and find joy in doing it. But, would you believe that there are financial benefits, too?
The Financial Impact of Good Leaders
In a 2010 paper, researchers Bruce J. Avolio, James B. Avey, and David Quisenberry showed that businesses that invest in leadership development often see a 200% return on their investment (1). But, that’s just the measurable monetary impact. There are other impacts too. Good leaders are better able to retain employees, boost employee productivity significantly (3).
What Are the Keys?
While each situation is unique, every business leader needs soft skills and hard skills. There are 2 soft skills and 1 hard skill that you, as a business owner, business leader, CEO, etc. need.
Hard Skills
The most important hard skill every business leader should possess is authority. This doesn’t mean that you are the go-to guy to answer all the questions your employees may have. You need to be able to answer some questions and do the work you claim to do, but you don’t need to be the smartest guy in the room. You just need to be respected by your team as a credible source looking out for their best interests. That respect means that the team will trust and implement the decisions you make as their leader.
Soft Skills
As important as hard skills are, actually being able to do the work people hire you to do, the soft skills are the things that help keep employees on your team. The soft skills that make the biggest impact are communication skills, and caring. Communication is more than just being able to convey your thoughts, emotions, and ideas to your team. Good communication requires active listening and observing body language, even more than just being able to communicate what you’re thinking and feeling.
And caring is even more important. President Theodore “Teddy” Roosevelt once said, “people don’t care how much you know until they know how much you care.” If your crew doesn’t know you care for them, then it won’t matter how smart you are. Eventually, they will leave. Caring for your team means that you have to be willing to put their own best interests above your own. When you do it will return to you, magnified.
How to Develop the 3 Keys
Believe it or not, there are ways that you can develop both soft and hard skills. Developing hard skills takes study. Youtube.com is a great place to start. It’s like a library and it provides video explanations of everything that you could hope to find. Developing soft skills takes research, too. You’ve got to figure out where you’re weak, and then you can begin to develop that weakness through study and practice. Another great way to develop the skills you lack is to find a mentor who will guide you and also hold you accountable when you make mistakes.
Becoming a REAL Alpha
I love learning about animals. One particularly fascinating animal is the North American Wolf. The fact of the matter is that the “lone wolf” isn’t very common. In fact, wolves tend to travel and hunt in packs. These packs have an “alpha” or a pack leader. There are seconds or thirds. Females, pups, and seniors. As the wolves travel through the various terrain, they travel in a certain order: the second strongest wolf takes the lead, followed by the rest of the pack. The leader takes up the rear, watching attentively for any threats that may come at the pack, ready to tackle anything that could come. The leader is willing to risk their own life for the health and safety of the pack. Sometimes this means that they eat last. But the pack survives and as a result, they all win.
If you really want to succeed as a business owner, stop thinking like a lone wolf and start thinking like the leader of the pack.
SOURCES
- Avolio, B. J., Avey, J. B., & Quisenberry, D. (2010, August 5). Estimating return on leadership development investment. The Leadership Quarterly. https://www.sciencedirect.com/science/article/pii/S1048984310000925.
- Sudarmo, Suhartanti, P. D., & Prasetyanto, W. E. (2021, May 4). Servant leadership and employee productivity: A mediating and moderating role. International Journal of Productivity and Performance Management. https://www.emerald.com/insight/content/doi/10.1108/IJPPM-12-2020-0658/full/html.
