It is important for business owners to be able to differentiate between a good manager and a good leader in order to ensure their business operates at maximum profitability and efficiency. Both roles play an important part in business, however for different reasons.
It is also important for business owners to ensure they have the management structure in place to allow their leaders to focus on inspiring their team to be successful and achieve their goals. Without this, leaders will spend too much time trying to manage and not enough time leading.
So what is a good leader?
Whilst everyone might have a different idea of what it means to be a “good leader”, no matter how you define it, I’m sure you will agree that a good leader should possess the following character traits.
- Integrity: they must be able to earn the respect of their team
- Decisiveness: they must be able to make decisions quickly
- Fairness: they must treat others equally
- Self-awareness: they must know their own strengths and weaknesses
- Enthusiasm: they must be able to motivate a team with a positive attitude
- Knowledge: they must be able to stay on top of facts and numbers
- Creativity & imagination: they must be able to come up with new and innovative ideas
- Endurance: they must be able to preserver when things go wrong
A good leader must also understand the difference between working harder and being more productive. A good leader will focus on ways to work smarter, not just harder, and will ensure their team has the right tools, training and resources to be effective and maximise productivity.
When leaders take this approach, they will find their team is more motivated and will appreciate their leadership. When a team sees that their efforts are turned directly into output, they are much more prepared to increase their effort. They become inspired, which is the goal of all leaders – to inspire their teams.
Being successful is in our human nature – people strive to be successful. It is the job of a good leader to enable and motivate their team to be successful, and to recognise and praise their team for a job well done. A valued team member who feels they are achieving and feels they are appreciated will continue to work hard for your business.
As a business owner, one of your priorities should be ensuring your business includes someone you can trust , who is also someone that is a good leader for your staff. By doing this you will give your business the opportunity to operate at maximum profitability and efficiency, and ensure you have a workplace where your staff are excited to work.
So, do you know who the leaders are in your business?
If you would like to discuss your business performance or ways to monitor your business success, please contact your PJT Advisor on 5413 9300.