There is no surefire recipe for success. There are, however, certain traits which are common to virtually every successful business leader. Here are five that are consistently regarded as the most potent.
Vision marks the genesis of all things great. No achievement worthy of the name is an unintended series of coincidences. Successful business leaders begin every endeavor with an end in mind and work assiduously at seeing it realized.
It is not enough to proclaim a static objective your ultimate goal; real vision is a living, breathing entity that a leader molds as circumstances evolve. Time must always be a factor – every target should have a schedule against which to measure progress. Importantly, vision must be shared so your entire team is in sync and works in cadence.
Love of Learning
Remember the eternal truth: “Knowledge is power.” Every business victory is the application of the right knowledge at the right time and place while every failure can be traced back to an information deficit. Leaders with a love of learning set themselves up for success and are insulated against avoidable pitfalls.
Learning also extends into innovation. With neurons constantly stimulated with new insights, a well-read, well-informed individual is a hotbed of ideas that can be turned into entrepreneurial successes. Work on learning every day, be it through educational blogs, industry journals or a formal course. Act on what you learn.
No successful leader is an island. Success in any field is a team effort and good leaders spend as much time and effort investing in the people around them as they do in the business itself.
Realize that micromanagement hampers growth. Rather than attempt to master every aspect of your business, seek, find, hire and invest in people to whom you can delegate reliably. Sit back and manage these managers and guide them with your bird’s eye view of the organization. Foster the same spirit of learning in your team and become a leader known for building leaders.
No modern business can succeed without technology. Regardless of the industry, business success today is more closely tied with advancements in tech than ever before, a trend that will only strengthen in the future. A leader who embraces tech embraces a virtually limitless capacity for growth and new opportunities.
Technology is also a time multiplier, allowing leaders to oversee, manage and delegate to far more people than would otherwise be possible. Industry-specific developments reduce the investment of time and resources required while multiplying the product and, consequently, the profit. Astute leaders embrace technology but at the right point and to the right degree to deliver the best results.
Nothing worth achieving comes easy. Personal discipline is the hallmark of a good leader and it gives one the tenacity to persevere through challenges. These challenges may range from seismic shifts in the industry to fighting complacency with everyday learning and even to simple time management.
A good leader’s discipline manifests as an unwavering commitment to deadlines, the iron-clad reliability of their word, and a perpetual drive to grow the business and the people within it. In their personal lives, it may be seen in their fitness regime, dedication to continuous learning and a focus on the bigger picture. Discipline is the glue that holds all the other traits together.