Five Leadership Methods that Small Business Owners Should Incorporate Into Their Growing Company

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Five Leadership Methods that Small Business Owners Should Incorporate Into Their Growing Company

A team is just as strong as its weakest link. This phrase has been thrown around the business industry. The problem, however, is that many need help confronting the weakest link if it is the business owner. 

Leading a team can be daunting but can bear great fruit if done correctly. Many business owners see themselves as owners rather than leaders of their businesses. Business owners and leaders are significantly different. 

A business owner can be seen as the individual that started the company. These individuals or groups had the idea, invested time and money, and grew it into a business. This does under no circumstances mean that the owner is a leader. 

Leaders have a vision, are people-oriented, and want the company to grow positively. A leader seeks to influence and assist every part of their team. Listening, supporting, and guiding every member to grow in their job. 

The mere fact that you are an owner does not mean you lead the company. In the same breath, leaders can be in high possession but are not business owners. However, business owners can learn the necessary skills to become business leaders; in most cases, this will be advised. 

The Definition of Leadership 

According to Mckinsey & Company, leadership is a key aspect of business growth. It is a set of behaviors used to assist a team in aligning their goals and direction, enabling them to execute a set strategy. 

A leader is an individual that aims to assist team members to work together for a more significant cause or vision. The leader generally decides on the vision by identifying key areas where the company can impact and assist the community around them.  

The leader will have a set of responsibilities and obligations towards the team members and the company. Small business owners can adapt by building the skills and responsibilities of a leader, which will ensure that they work with their team to grow the business. 

Incorporating Leadership Into the Business 

The following skills are critical for business owners to master. These skills will take time and energy. The key, however, is to work on them daily. Set clear goals and find time in your busy schedule to lead the team. 

Open Communication 

Many corporate leaders have adopted the open-door policy. A leader should be open to communication with their employees at all times. Open communication means team members can share their victories, struggles, shortcomings, and personal problems with a leader. 

The leader will be responsible for listening with empathy, aiming to understand what the team member is going through. The leader can take the information and create a strategy for the individual or team that will assist them in overcoming the problems. 

There are many benefits that the leader can access by incorporating the skill of open communication into their repertoire. Open communication will improve employee loyalty and productivity. Team members will feel more valuable when sharing their feedback, thoughts, and struggles. 

TIP: As a leader, you should listen to understand. This means that employees must speak first. Ask questions to ensure you follow the thought process and share ideas and strategies to assist the employee. Use non-verbal cues and communicate directly with the employees.  

Mistakes and Solutions 

In business, mistakes will happen. Employees might miss deadlines or need to be reminded to complete some tasks. Business leaders can forget to share a document or task with a team, leading to business problems. 

Multiple businesses aim to solve problems for their customers but work past issues within their own companies. This is a problem that occurs often. On the other hand, leaders are responsible for tackling mistakes head-on. 

The two main focus areas of mistakes are identifying and solving the problem. The responsibility of a leader is not to shout and scream at their employees or team but rather to identify the aspects that led to the mistake or problem. Work with the team to identify the main reason why an error occurred. 

Every action has its consequences. If a mistake occurs, it will be the team’s responsibility to find sound solutions. The leader must use the mistake as a learning opportunity for the entire team to ensure that every member can avoid the problem in the future. 

TIP: Leaders should not prevent mistakes but allow the team to take the initiative and make multiple mistakes. The leaders should, however, be present and assist if the team members are spiraling down. Provide a safe and secure backup without jumping in as the problems occur. 

New Ideas Obtained Through Scrums

A business owner has a team that must complete multiple tasks and responsibilities according to his set structure. The team must fulfill every delegated task as quickly as possible. Meetings and conferences are held solely to give the team members more work and arrangements. 

On the other hand, leaders use the team’s strength to build a structure, system, and team that can function independently. A business leader will use the employees to generate new ideas or create creative solutions to recurring problems. The leader has access to multiple solutions through his team members, and allowing them to provide ideas will add more value to the company and team. 

Allow the team members to share new ideas, solutions, or thoughts on multiple aspects of the business. The leader will have more options that could benefit the company by simply listening to the potential ideas that the team might bring to the table. 

TIP: Leaders can speak last within the scrum. This is an idea that Simon Sinek popularised. Allow the team to share new inventive ideas and solutions. The leader should listen actively and only speak once every team member shares their ideas. 

Feedback and Praise as a Supportive Role 

A company leader does not sit at the top, waiting for praise. The company leader aims to support every team member within his company. To ensure that they reach their top level of performance and feel satisfied with their occupation. 

Small business leaders should use feedback as a tool to enforce growth on the employees. Feedback can occur when an employee completes a task or project and the leader provides a wide range of insights on the completed project. 

The leader should clearly state the problems and unsatisfying areas of the project. With that, the leader must add solutions or tips on how the employee can improve the problem areas. Leaders must use praise within the feedback to ensure their employees correctly identify what they did. 

TIP: Direct and truthful feedback will go a long way. Leaders should praise or provide feedback directly to the team. Do not share feedback with any other members. Solely aim to share directly with the employee or team. 

One Team

A business owner will identify the business as his own. Fighting against employees and competition to ensure that the company stays afloat. The business leader, on the other hand, aims to create a boat that will support the entire team, ensuring the safety of every member. 

The boat will be seen as the company. And every team member adds value and direction to the business. The entire company, with all its parts, is seen as one that the leader might direct. 

As a business leader, you must be able to rally the employees, sharing their goals, vision, and the entire reason behind the business. Team building for small business leaders is critical. These building sessions will allow the team leader to showcase the importance of every team member, showcasing that the entire group is one. 

TIP: The company is a boat made for the entire team. Every part is needed to ensure that the company stays afloat. Makes sure that the team members understand this. 

To Wrap up

There are multiple methods that small business owners can use to ensure that they are a leader of their teams. Leaders will build a strong team with high motivation, productivity, and direction to ensure that every team member knows their worth and their part within the small company. 

Not only will leaders grow the company at a rapid pace. However, these companies tend to live longer and have a larger impact on the community and the industry. The aim should be to lead the team without being a boss. 

Five Leadership Methods that Small Business Owners Should Incorporate Into Their Growing Company
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