Management and leadership have always been defined differently with many business owners urged to develop the latter skill. The truth is, there is only so much management skills one can learn. After that, systems and the employees take care of much of the day to day running of the business. The challenge of the business owner is to ensure all parts of the business work in tandem to achieve the goal of the business. This calls for leadership and the more developed leadership skills you have the better success of your business.
It may not make sense to many as they start out with small teams but your leadership impact on many areas of your business. These include employee turnover, office culture, motivation of the employees and the overall direction the business takes. Here are four reasons why investing in learning to be a good leader is a good investment.
1. Development of office culture
Office culture covers a whole lot of factors from beliefs, values interactions and behaviors within employees of an organization as well as with outside publics. It is developed over time and influenced by a number of things including leadership, management, people hired and the company’s goals. Leadership has great influence on workplace culture because it sets and defines all the other factors. Great leadership will lead to effective management practices and policies at all levels. It also develops and defines clear goals and missions which lead to effective polices and the recruitment of the right people. Great company culture contributes to business success by attracting top talent, facilitating engagement and retention of employees and better performance across the board.
Facilitating effective communication is not just about creating working channels. It involves trust and an encouragement to employees to give feedback. You set the tone of how free and effective the organization communication will be by your example. This calls for good leadership to be able to connect with the employees, encourage positive criticism, understand their needs and aspiration and much more. Becoming a better leader allows you to create meaningful relationships with your employees and among them. This ensures everyone understand and embraces the company’s values and goals. Communication becomes more effective and fast in environment where trust has been built and everyone feels valued.
3. Strategic planning
While management is concerned with making the production processes more efficient for business growth, leadership looks at the bigger picture. Leadership is about making strategic plans work. Great leadership has vision and ability to steer the organization to the realization of that vision. It is about identifying opportunities and mobilizing human and capital resources required to achieve the strategic plan. Leaders ensure all team members are sold to the plan, become part of the plan and contribute towards realization of the plan with enthusiasm. Effective strategic planning and execution is essential for business growth.
4. Crisis management
Nothing best demonstrates the importance of developing your leadership skills than the handling of a crisis in the business. Poor leaders fail and cause further split in their organization because they seek to apportion blame and deal with the surface issues. Great leaders identify the root cause of the issue, and rally the whole organization in facing the crises. They recognize the momentum and unity of purpose that can be achieved from the situation.
Leadership training is a continuous process using experiences, mentors and even classroom settings. It is an investment in your development as an entrepreneur or CEO and many modern CEO’s and serial entrepreneurs have chosen to invest into their leadership skills. It is key to retaining your best talent while attracting others, galvanizing the business to desired goals and overcoming challenges whenever they arise.