By Adam Hope
Throughout history, there’s always been a clear divide between those who lead and those who follow—especially when it comes to business. Are these movers and shakers born with leadership and success in their genes? And, if so, what is it that makes them so irresistible in the business world, causing people to stop, look, and listen?
As cliched as it is to say, hard work and dedication go a long way towards becoming a successful business leader. But in order to narrow down the scope into something actionable, we’ve distilled five key attributes seen time and time again in today’s successful entrepreneurs and business leaders—separating the best from the rest.
1. Leaders are open to change
Business isn’t a static environment, and having an ego about your ideas or methods of working can be a dangerous attribute. The most successful individuals in the world of business truly value the input of those around them—whether it’s a fellow board member or a personal assistant, everyone’s opinion carries its own value. Growing a business requires constant learning and adaptation, and if you’re falling short of your personal goals, start by questioning your own actions before pointing fingers at others.
2. Leaders are accountable
Accountability goes hand in hand with being open to change, and is a core trait of great leadership. When it comes to leading others, nothing can cause you to lose more respect than pointing the finger. Leadership isn’t about being above the rest; it’s about presenting yourself in a way that others are naturally inclined to follow—with best practices highlighting the optimal path.
When it comes to leading a team, there’s a fine line between the importance of acknowledging the wins of individuals and sharing them with the team as a whole, and as a leader it’s your job to satisfy both. This is especially true in the opposite situation; rather than blaming an individual for a mistake, a stronger approach would be to acknowledge the problem and consult with the team to focus on building an effective solution. Everybody makes mistakes—including the world’s greatest leaders—and no path to success is without a few hiccups along the way.
3. Leaders have an understanding of money
Staying on top of your business’s finances is just as important as keeping an eye on your personal bank account. Proper financial planning will leave your business in the green, all the while ensuring you’re building a stable future for yourself. Many people shy away from getting involved in the financial side of things out of a simple, albeit unjustified, fear of number crunching.
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When it comes to finances, diving into the deep end can be overwhelming; however, as a leader, it’s vital that you have a working understanding of basic accounting. Seek the advice of a professional accountant for your business and a financial advisor for your personal affairs; that way, you can build a bulletproof plan to succeed financially at work and at home. After all, what’s the point in pursuing a successful career if you can’t reap the rewards?
4. Leaders are goal-oriented
Goal setting may seem like a paperwork exercise for many; but without setting the goal posts, you’re leaving yourself without a target to shoot for. You risk not only your business plan drifting off on a tangent, but also losing the ability to measure success—and therefore never be able to claim true progression.
Goal setting also plays a vital role in breaking down seemingly impossible business-wide tasks into achievable personal actions. Make sure you set yourself both a realistic goal and a ‘‘stretch’’ goal. Unless you’re reaching higher every time, your levels of success are destined for stagnation.
5. Leaders have a sixth sense for skill sets
Wise managers are never afraid to surround themselves with talent. View the talents of your colleagues as resources and learning opportunities rather than threats. Not only will you build a stronger business with a wider skill set, but you’ll also immerse yourself in an environment where everybody can learn something from each other—honing your own skills as well as those of your team. Weekly internal development days are an excellent opportunity for each member of the team to take turns mentoring others, sharing their knowledge and insights with the rest of the business.
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