In business, it’s all about having the right leadership because this will make a huge difference in your success. If you think about the top companies, you’ll notice they all have something in common – their leaders are vibrant, experienced, focused, and motivated. They all know what’s important to the success of the company, and will work hard at ensuring the bottom-line is met. However, there has been a lot of content written on this topic, and what’s makes a successful leader. If you do a quick search in Google, you’ll find hundreds of pieces of content on this topic all discussing what they believe should be the qualities of an effective leader. I went through all of them and decided to put a list of five qualities which I feel will propel any company towards success.
We’ll be exploring the following qualities in a leader –
- Has a vision
- Brings a team together
- Aware of changing trends
- Knows when to call it quits
Many people must understand what I mean when I say an “effective leader has a great vision”. Every company has a vision, and effective leaders know how to ensure their employees follow it. For example, Apple’s vision is to create the best products which are simplistic and user-friendly, and this can be seen in the iPhone, iMac, and iPad. General Electric’s vision is to enlighten the world with health care products, oil & gas division, and some of the most advanced appliances. As your company continues to grow it’s easy to lose sight of the overall vision, so you need a leader in place which clearly defines it while pushing employees in the right direction.
You can’t just put anyone in charge of your company because they’ll drive it into the ground. That’s why you’ll notice many leaders have been with the company for several years working through the ranks. Why? It’s because this gives them deeper insight into the interworkings of the company and experience at all levels. Knowing how the company works at different levels will help steer it in the right direction.
It’s stated most leaders have been with the company for over 20 years working in different rolesbefore reaching the top.
3) Strong Team Environment
Leaders have to know how to motivate an entire team to get projects done. In a big company, many of the different departments work together so any tension or misguidance can cause major delays. However, with the right leader in place, you’ll be able to sort out any differences team members have with each other, and make sure the project get’s completed on time. Keep in mind, much of the skill to sort out an internal problem comes from experience which again is why having years of experience within the company is important.
4) Understand Changing Trends
This reminds me of Steve Jobs, and why Apple was able to come back from years of lost profits. Steve Jobs was able to tell the direction the industry was headed even before any huge change would occur. Because of this insight, he had a huge jump start on the competition. A motivated leader knows how the trends are changing, and is even better at responding quickly. Being able to outmaneuver your competition at the drop of a hat will allow you the opportunity to increase profits, expand brand awareness, and form mergers or partnerships.
5) Call It Quits
One of the main reasons why companies don’t survive through tough times is because they don’t know when to pull the plug. The main purpose of any business is to make money so when the company stops making money, leaders should know when to quit in the market. If you have 20 products in your portfolio, then stopping production on a losing product is a possible solution to the problem. You should be able to remove all emotions from the business and understand the main objective – profits.
For example, when Steve Jobs returned to Apple in 1997, he stopped production on 8 products and only focused on 4…that’s all. By following his example, you’ll increase sales and boost revenues instead of burning money on products which don’t sell.
Having the right leader at the top is very important for any business to succeed. With an experienced leader, the vision of the company will always be clear and you’ll continue to grow increasing profits. The next time you’re looking to put a person in charge, it’s important to make sure they have all 5 of the qualities listed above.
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