Being a leader is like being everything. Leader is the person who knows what he/she wants and who knows how to get it. Who knows when to say yes and when to say no. Leader can be described as a person who can draw collective productivity from his/her team to meet any challenge. A good leader would always stand for transparency, doesn’t hold inhibitions, doesn’t behave evasive, and conduct himself/herself with psychological maturity.
Business leadership demands much more from an individual as a leader. This is especially true with small entrepreneurs who venture into business not just to make big sometime but to earn the initial identity and livelihood too.
1) Knowledgeable and visionary
A business leader should acquire and command knowledge in his/her business domain. Thorough understanding of the nature of business offerings, the business model in place, stakeholder knowledge, team strengths and weaknesses, past, present and future pulse of his/her business.
2) Self aware
At the outset a business leader should hold full understanding of self like his/her personal strengths and weaknesses, professional expertise and gaps, individual realities and responsibilities. This awareness would help deal situations with flexibility or assertiveness. A business leader should build a wall of immunity between his inner self and external influences. This immunity and self awareness will make him deal with peculiar situations more effectively and profitably without taking things personal. Self awareness and periodical self-appraisal makes a leader mature and challenging.
3) Communicative and assertive
Earning should be the whole objective and profit should be the core motive in business. Business inherently comes with mixed opportunities which may spell more profit at times, less profit in some cases and nil profit in certain transactions. At the first instance business is not dealing with things. Business is all about dealing with people who may be your customers, suppliers or any other stakeholder. So the profit and loss here is not just the monetary gain, it is mostly the relationship that brings business. Hence, a leader should be knowledgeable, well communicative and assertive about his reactions in any given transaction. There should never be a situation to yield unprofitable transactions unless there is a minimum guarantee of brand value and / or acquisition of relationship.
Unless a business leader is assertive about what he wants and what he doesn’t want he would create chaos to himself / herself for the times to come. A wrong and misplaced communication, an imperious communication or communication with contrasting and contradictory statements will weaken the position of a business leader.
Truth is truth. Leaders should never try to change it or mask it especially in business. Business leader who doesn’t have the boldness to speak about his success, failure or lapses, would be pushed to the last position in the minds of stakeholders. This may not be an imminent happening when it is a one time issue. It will certainly result so when the leader consistently tries to mask truth of any nature in his / her business.
Truth may be a service lapse, commitment lapse, quality lapse, procedural lapse, or a communication lapse. It is a well known fact that when we try to hide the truth we commit more mistakes.
5) Genuine and honest
Leader should appear genuine, act genuine, and remain genuine at every instance of his interactions. It is not correct to think or to go by some saying that ‘genuineness doesn’t pay in business.’ Honesty improves brand image and brings in long-term value to business.
A leader should be passionate to earn business, to earn profits, to grow big and to gain brand identity. A business leader should first showcase his passion and act with passion for his / her business growth without which the team will go lackluster delivering low productivity and may be even low quality. A leader should always act with passion and devotion at equal levels with each client and each transaction.
7) Emotionally strong
Emotional endurance is highly essential to face several challenges from team, stakeholders, market, regulations and untoward happenings. Business is generally beset with unknown challenges. The conduct and behaviour of business leader should always reflect balanced thought and deed, and composed response to grave situations. An emotionally charged and aggressive conduct would distance him from his stakeholders. This situation could be avoided when a leader nurtures the habit of thinking more before acting.
If you are not humane you are not a leader. Profit is definitely the important motive in business. Money is like blood to business. But a leader who doesn’t act humane when situations demand would be ignored by the crowd. This may not have immediate effect on business inflows but would definitely have a dent on the brand identity.
Yes, a leader should act smart and wise to earn that extra penny. Because, profit is the core motive of business.
10) Socially conscious
Business is earned not by your actions but with the participation of society in your business and acceptance of your business by society. A business leader should bear the responsibility of sharing a percentage of his/her profits with the society which is instrumental for his survival and growth. A business which is not socially responsible can’t invite better talent and better identity.
Leader should act so unpredictably great making every situation go in his favor or in favor of his vision for collective sustenance and growth.