November 23, 2014
Clear values, innovation, pricing strategies, passion, and branding are all key attributes that will help to transform new and existing businesses into trusted household names. Yet without excellent leadership skills, a business can quickly crumble. Read on for 8 simple ways to promote your business as a leader in the field.
Strong values lay the foundation for a solid business, so it's essential that these values are clearly defined from the get-go. Put some effort into the vision statement, instead of throwing something together quickly. Create a truthful set of values that radiates the company nature and intent. Don't be afraid to make changes along the way. As the business blossoms, its key values will need to be tweaked.
What makes your business different from the thousands of other similar businesses? A unique selling proposition is essential for attracting customers and standing out from the crowd. Define your niche, then promote it. Once you harness your skills and bring a unique set of skills to the market, your business is destined to prosper.
Benjamin Franklin said that honesty is the best policy. This certainly rings true when it comes to leading a business to success. Your moral character, integrity, and honesty will all come into play when leading a business. Set the bar high and encourage a healthy work ethic, and you will find your employees will be happier and more productive in the process.
An Excellent Management Team
An excellent business needs a highly skilled management team behind it. Oracle chose to make Safra A. Catz and Mark Hurd Co-CEOs of the Oracle Corporation.
When asked why Oracle needed two CEOs, Hurd replied, “We're a big company. This is bigger than the sales force. It's bigger than Safra and me. Bigger than Larry, Safra and me. … It's the development team, other teams. We have over 130,000 people. We need a lot of leadership in our company.” Oracle's CEO shake up shows that it's not afraid to take risks to make sure the company succeeds.
Leaders can take note from Oracle by choosing to step away from the norm. Companies should always be structured to fit the needs of their own goals.
Ability to Delegate
The ability to delegate is important for creating a well-organized business that will flourish. Leaders sculpt the vision of the company, but they will also need to trust their team to develop this vision and allow it to grow. Delegating tasks is a sign of strength as it proves the company has faith in its staff.
Push Things Forward
It's important to adapt according to advances in technology and the ever-changing needs of customers. Oracle's Mark Hurd is leading the company to success with a new cloud subscription strategy that could potentially generate a $10 billion annual cloud subscription revenue. Hurd's strategies are paying off as a cloud subscription revenue run rate of almost $2 billion was reported in Oracle's latest year-endings earnings reports.
Modeling is a system where an individual observes an expert to extract parts of their beliefs, behaviors, languages, and strategies in order to achieve similar results in their own field. While you may not want to delve into the complex world of neuro-linguistic programming, by studying inspirational role models you can learn to improve your skills and become a better leader.
Choose to Inspire and Motivate
Finally, motivating and inspiring your team is important in any business. If you're leading a start-up to success, you will need to inspire your team to see and believe in your vision.
Incorporating bonuses will reward staff for their hard work and motivate them to work to their full potential, while giving away equity is another way for your team to feel invested in the success of the company.
Leading a business requires forecasting, strength, perseverance, commitment, clear values, and the ability to inspire and motivate while trusting your team to carry out your ideals and visions.
Max DePree put it well when he said, “The first responsibility of a leader is to define reality. The last is to say thank you. In between, the leader is a servant.”
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