Every business starts out small but what is it that makes them succeed. I work for a small business that has increased significantly over the last several years. So I find myself asking why. Why have we been successful? What keeps us successful? And how do we keep the business successful in the future? The answer is the leadership that guides our business.
It has been said that the greatest leaders surround themselves with other great leaders. Great leaders have to have an eye for talent. Whether this is people who are educated in your field, people who have creative ideas, or people who can focus on the jobs at hand. It takes a village to run a successful business. ( Kaufman, ) Nobody can run a business on their own.
Leadership also includes a vision. It is an important aspect of running a small business. As a business owner and leader it is important that you understand where it is you want to go and having a vision will achieve this. Don’t forget to communicate that vision. Making sure everyone who has a hand in your company understands what that vision is by communicating it. This can be very important for moving into the future. (Northouse, pp 14)
Being passionate about what it is your business is doing is just as important to your small business. ( Kaufman, ) You are your business’s advocate. Be excited about what you do. If you are excited about what your company does, your employee’s will be too. One of the best things about working for a small business is I get to help create the future. This happens because the owner has passion about what we do and this is passed on to me. When he’s excited, I’m excited.
While there are many reason why small business’s fail. There are just as many why they succeed. If you want to make your small business succeed start with a few of these fundamentals of leadership and you are on your way. Bring in talent, have a vision, communicate and have passion for what you do and you can very well be on your way for succeeding not only in leadership but having a small business that turns in a large successful one.
References
Kaufman, M. (2014, September 5). 10 Traits of Great Business Leaders. Retrieved September 2, 2015, from http://www.forbes.com/sites/michakaufman/2014/09/05/10-traits-of-great-business-leaders/
Northouse, Peter G. (2016). Leadership: Theory and practice. 7th ed. Sage Publications, pp. 1-18
John Washabaugh says
Congratulations on your success.
One aspect of your post that is critical is recognizing your strengths and surrounding yourself with the right people. Many time leaders choose like minded people with the same motivations and drives as themselves. This is a recipe to limit growth & ultimately failure. Recognizing what your weaknesses are and then hiring people with the skills to mitigate these weakness is essential. To this point, you can use these hires as a means to build your skills & reduce impact of weaknesses.
Another aspect is vision. Without vision you are a hamster in a wheel. Nothing changes unless it is forced. Having vision gives direction, enables visual progress and metrics as well as a sense of security for the workforce.
I was part of a small OEM for 9 years. Within 5 years of start up we grew the business to $10m in sales with 50 employees. The owner was very short sited and limited in experience. He was offended and challenged by staff members who offered ideas or disagreed with his methods. He hired many people who had a submissive nature or “needed a job & the money.” Unfortunately that business only lasted 15 years before its demise & eventual closure. If the owner possessed the skills you mentioned the business would still be growing.