28 June 2018

Being open-minded to change and innovations is what separates mediocre business owners from great ones

Being a great business owner takes more than just giving moving speeches during meetings talking about ideals and visions for the future. Impressive words don’t matter; it’s how you walk the talk that really counts. Your team is counting on you to actually perform to inspire them to work on achieving the company’s objectives.

You need to work on goals and and execute an efficient plan that will allow you and your business to flourish. Great leaders always think of what needs to be done to stay ahead of the competition.

Thinking differently doesn’t always mean you need to go the other direction from where most leaders are. You don’t necessarily have to break norms all the time; you just need to think outside the box and become more assertive with ideas that you think deserve merit.

Implement strategy and stick to it

You don’t just do something for the sake of doing it. Execute action with a specific set of objectives in mind because it’s important to have a reason for doing everything you do; otherwise, it may mean you’re just wasting your time and everybody else’s.

It’s also important to remember that some tasks, those that are not on strategy to help achieve the most imperative goals set out by you and your company, are not worth your time — at least in the time being. Stay on strategy and avoid irrelevant demands that take up your time, energy, and resources. A real leader is able to tell apart the value of each task and determine which one will not create an immediate benefit to the cause.

Foresee the possibility of failure

Perfection is nice to aim at, but everybody knows it doesn’t exist.  A lot of business owners I’ve worked with as a Business Coach are so obsessed with chasing perfection that they end up in a black hole where there’s no possibility of ever getting satisfied with anything. As a leader, it’s your responsibility to ‘define’ perfection. Don’t punish your team by chasing something unachievable. Quantify realistic goals and make sure everyone knows what exactly their shooting for.

Be curious about anything

The only true way to be knowledgeable is when ask questions, and it’s very important to be knowledgeable when you’re a business leader. But you won’t be asking questions unless you’re interested enough to ask them. Great leaders are confident to question just about anything, and it doesn’t make them feel inferior.

You should want to know the ins and outs of the business and discuss it with your team not only to educate yourself but also to be able to gather your team’s opinions on certain aspects.

If you’re going to take a risk, make it a calculated one

Risk taking has its drawbacks, but when executed strategically, it can be very rewarding and uplifting. If you want to get ahead, don’t sit and wait for an opportunity to arise; think long and hard about groundbreaking ways to take your ideas to the next level. calculate risk versus reward and establish — through measurable data — whether or not the risk is worth it.

Reflect before you act, not after

Certain calculations must be done prior to any action, business or personal. Reflective thinking is the only way you can really detach yourself from a situation and get a more intelligent perspective. Before acting on anything, you need to recognise other people’s perceptions, emotions, and thoughts. From there, you can make an educated pronouncement regarding the best path towards success.

Be the best business leader you can be and reach the full potential of your business. Work with a Business Coach. My extensive clientele consists of companies based in all of the Midlands including Leicestershire, Derbyshire, Nottinghamshire and Staffordshire. Discover how REACH Business Coaching can help you grow your business by attending our free workshops and seminars.

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