A successful business Leader is someone who has more than a set of skills.
They’re individuals who have passion for what they do, are honest with themselves and colleagues, and believe in moralities. Today’s society depicts the best leaders as charismatic superhuman types, who possess the power to encourage people to believe in them and their decisions.
An effective leader usually, has strong personality traits and attributes. If you’re one of these people, you could be defined by; your sheer willingness to take and manage risks, make decisions on behalf of others, and take ownership of tricky business choices, whilst convincing others that it is the right thing to do.
Profitable leader’s, generally have the awesome ability to develop people and are instant conflict diffusers. They can control high levels of emotion and magically turn negative energy into positive actions.
Leaders are naturally great influencers who can create a following. Having an ethical approach to trading, is also a bonus that enables them to lead by example and again, gains trust in their team and acquaintances.
Obviously, any leader should have a nose for business, and be able to identify the best tactics to increase revenue. Being influential is the key and having the self-confidence to build new teams and implement new processes, will determine a business’s success or failure.
CEO’s on wall street received up to a 27% increase in their salary in 2016, which shows that developing your leadership skills is a good place to start when thinking about long term forecasting and considering your businesses profitability.
Here are 4 reasons why working on your leadership skills will not only gain you respect, influence and a well-developed team, but will also put you on the road to a higher turnover and business growth.
4 Reasons Good Leaders Make More Money
1) They Hire Motivated People.
Leaders are instinctive creatures and can see motivation and drive in the first interview with a candidate. If you are constantly wondering how to get your team going and pondering why their targets are not being met, even though you are putting in the work to train and develop them, then usually, they’re just not self-motivated.
It’s not your fault, maybe they pulled off a great front at first and appeared to be super psyched ‘Let’s go!’ types, but their ebbs are dwindling and they’re now tricky rather than productive. Who knows, they might have other stuff going on. Whatever is blocking their success, you can sometimes try all you like, but you can’t help those who are lacking that characteristic.
That’s when it’s time to pull in HR and set the ball rolling in finding your next big dream team.
In an interview you need to be looking out for big dreamers who are passionate about you, your business, and like to chat about their personal goals, projects and are interested in what makes you happiest.
They will love to discuss goal setting and see targets as fuel to succeed. You want people on your side, working with you, with a shared vision and mission.
Ask potential employees about their goal setting experiences. Plateaus they may have hit and overcome are an indicator to how they will perform when problems and difficulties arise in the work place. It determines if they will lose motivation or quadruple it as part of their mission towards your company’s success.
Obviously, you are also responsible for motivating your team be it in money incentives or just injecting happiness into the workplace. If you need some inspiration, take it from the best. Google believe in creating the ‘happiest, most productive workplace in the world.’ We all know how that went.
Self-motivated people motivate others and see drawbacks as a chance to learn and gain experience. They’re always up and positive, you know when they’re in the office. They’re the leaders of tomorrow, keep them close and look after them well, they’re your businesses best investment.
2. They Encourage Staff To Believe In A Business’s Impact, Not Just Money
Believe it or not employees aren’t solely driven on money and the earn factor. Yes money in the bank, with more to come is great, but you can only throw so much cash at people before they start to get complacent. If your company is immoral, dishonest and carries bad vibes all round, then you’re staff turnover will be high, current staff will be de motivated and less willing to cooperate and sign that extra deal. They will feel over worked, tired, and stressed and have no time to spend all that money you pay them.
The best leaders work with their staff to change the world.
Alright, maybe not change the world, but that’s what your staff want to feel like they are doing. They will thrive off the idea that by working with your company, they are able to make a change in someone’s life. Be it financially or emotionally. Your staff will perform at a higher rate if they feel like they’re working for a real cause.
Corporate environments often fall down in this technique due to the overall feeling by staff of being totally disposable. That’s why; the most fulfilling roles are often those within small start-up environments.
It’s easy to see why. New employees of a start-up, experience the true grit and effort it takes to get going in a start-up world. They see founders who can’t afford their own salary, forking out for theirs because they believe it will work. Their staff believe it too. This all bottles down to a feeling of self-worth, importance and responsibility in staff. They’re motivated by the challenge to achieve and make the business a success. That’s what a great leader does. Creates believers.
3. They Spend Time With Their Employees.
Leaders spend valuable time with their employees. They’re the ones who are looking after the company, driving it forward, so they should be invested in on a personal level. For larger companies, leaders will work one on one with their best managers, to ensure this practice is carried out on a department basis. However in small companies, this priceless tactic will mean employees feel valuable.
By spending one on one time with them, you have the chance to learn about their passions, dreams and career goals. This enables you as a leader to tie it all in with your business goals, and ensure you are developing them in the right way. You may have employed a Sales Rep and realise they’re actually pretty amazing at Communications and PR, and love it too. Hello new PR consultant, more business and bigger reach. That employee may not have excelled if the right leader hadn’t spent the time to pick up on their skills. Even just sitting and having a chat every week with a few different employees really creates connections.
They get to know their leader on a personal level, and are genuinely interested in you, without losing respect.
4. They are Transparent
This one is simple. If your staff know exactly what is going on, then they have nothing to worry about.
The scariest situations in the workplace is when the rumours begin. If you’ve been in a company that is going through a difficult time, but try to convince you its ok, then you’ll know the sick feeling of dread that encompasses you every time the stressed, non-communicative manager walks through your office, and sets your targets higher.
The successful leader, who will ultimately make more money in the long run, will update staff on a regular weekly or monthly basis. Finances and forecasts will be made available for the whole company to see and the whole team will feel responsible for the company to do well, because they know what is going on, when to worry and what to do if it’s not great news. Everyone likes to know what’s going on.
Be a good leader and ensure they always know the deal.