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Good Leaders Have Better Businesses

Good Leaders Have Better Businesses

Many small business owners are in a very tough position. Not only have they had to navigate months of government mandated limitations, health scares, and rising vendor prices, they also don’t have any definitive answers to when this whole period might be over; and, what a new normal will look like when it is. For these reasons it is crucial that an organization has solid leadership in place. 

The shifts in business over the past six months have really left some businesses in flux. Larger businesses, with more access to capital, and more people in leadership positions are better positioned to get through this period than smaller businesses that typically have extraordinarily little liquid capital and smaller management profiles. Having strong leadership is always going to be advantageous, but it is absolutely critical nowadays. 

What Direction Is Your Company Going In?

One of the most important functions business leaders have is to give direction. Obviously, businesses are top-down structures with solid leaders setting a course--whether it is reasonable or aggressive--with goals and objectives that are designed to bring success. Typically, the more involved business leaders are in the decision-making process, the more engaged subordinates will be. 

Good leadership isn’t just about setting a course, it is also about providing feedback. Most workers don’t like to be micromanaged, but some actually need the constant direction of decision makers in order to fit into the operational environment. Knowing how your managers work, and how they relate to their staff is an extremely important part of running a business. You don’t have to have your fingers in every pie, just the ones that need the most attention.

More than that, for smaller companies, the way decision makers lead sets the tone for the entire business. The manner in which business is conducted takes on the personality of the people that are in charge. Some businesses have laid back administration and take on a more relaxed presence, while others are led by aggressive people and have strict procedures that set the tone for business delivery. 

Are You Good or Are You a Goof?

Business owners and decision makers are being asked to do more with less right now, and it is a difficult task. Keeping calm through tough times is the measure of a great leader, and in 2020, many leaders’ patience is being tested. Regardless of how stressed a business’ decision makers are, there are some very definite variables that define a good leader. They include:

  • Showing foresight - One of the most important parts of leading any team is the ability to see what is coming and making the requisite adjustments. This is more crucial in a small business where the buck typically stops with very few people. Being able to adjust to the ebbs and flows in business is important to keep it above water, even when the world seems to be working against you.
  • Taking responsibility - Leadership in business is a responsibility. People depend on your ability to make decisions and set the tone for how the business will be run. This means being responsible with your investments, your project timelines, and your decorum. Today, workers are not going to continue working for people they don’t respect, so be a person that a majority of people can respect and you will cultivate positive relationships with your workers.
  • Being receptive - Being a good communicator may be the best feature of any good leader. It is an invaluable quality, especially in a small business, where leaders will have to interact with customers, vendors, and staff. Since small business owners and decision makers need to handle a vast array of issues, being able to talk and write proficiently can be immeasurably beneficial. 

For a small business, leadership can mean everything. At Ferrum Technology Services, we provide the solutions needed to keep business running efficiently and keep solid business minds working proficiently. Call us today at 847-697-3282 to see what we can do for your business. 

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Thursday, September 24 2020

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