8 Characteristics of Great Business Leaders

As a lifelong entrepreneur, I know firsthand the ups and downs of running a successful company. I run several marketing companies, each serving a different domestic market, and co-run several profitable mobile app ventures with a financial investment company. It wasn’t always picture-perfect, but I haven’t regretted the ups and downs for a single moment. All my learning experiences have made me the leader I am today.

As exhilarating as it is challenging, serial entrepreneurship is the perfect fit for me. In fact, not everyone is cut out to helm a company. Certainly, there are certain traits and elements that make up effective leadership. This article explores some of the ingredients that make a great leader in business.

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sympathy

One of the most important aspects of being a great leader is empathy. Empathy is very important, but it is often not fostered in the corporate world. Yet empathy is very important to good leadership. When a business owner shows empathy for their employees, it earns respect from her team members. This allows leaders to be authentic about their experience and connect with their employees on a human level.

Empathy helps you retain top talent. If you are incompetent or fail to empathize and respond to their concerns and sensitivities, they are doomed to leave. In my opinion, you can’t grow a company with high turnover.

A clearly defined vision

Another key ingredient to being a great leader is having a clearly defined vision for your organization. Equally important is the ability to articulate the organization’s long-term and short-term goals. When team members have a clear understanding of the company’s vision and purpose, that clarity inspires trust, confidence, and camaraderie.

enthusiasm

Enthusiasm is paramount for any leader. It is important to have the ability to lead with enthusiasm and motivate the team and his members towards a common goal. Enthusiasm is contagious and permeates the entire organization.

Endurance

As entrepreneurs, we know that any venture has both successes and failures. As with any business, sometimes it works and sometimes it doesn’t. The way leaders deal with failure is a true testament to their character. It’s essential to learn patience in case something goes wrong or your goals aren’t achieved as planned.

Most importantly, it sets the tone for how the rest of the organization deals with failure. Of course, accountability and responsibility are necessary. The best approach to failure is to actually meet with your team, reach out together, and come up with practical solutions that lead to improvement.

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deal effectively with change

One of the most difficult situations for leaders is change. Having the ability to effectively deal with organizational change is essential for any good leader. Regardless of what caused the change, leaders should approach the situation constructively with the utmost professionalism.

embrace learning

As business owners, we must embrace learning for several reasons. Great leaders in business understand that knowledge is essential to keep up with industry change and innovation, as well as to improve their personal skill sets. Also, don’t be afraid to improve your skill set with some formal training.

Personally, I have continued my education throughout my career by taking language courses on Lingoda and iTalki, and technology courses on Udemy and Hubspot Academy.

develop excellent team members

Great business leaders understand that their company’s most important asset is its employees. Gathering a group of highly talented and skilled individuals as team members greatly improves a company’s success. In addition, it is imperative that a high-performing team her members have the autonomy to carry out their work. Great leaders understand that once they build a great team, it’s about nurturing their potential.

always evolving

As humans, we are constantly evolving. So having a growth mindset with a willingness to constantly evolve is another key ingredient to being a great leader. Assessing individual strengths and weaknesses is essential for leaders. Self-awareness can then give you a better understanding of areas that need improvement.

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There are many different leadership styles in the business world, but there are definitely certain ingredients and traits that make a great leader. Most importantly, great leaders understand the benefits of continuous professional and personal development.