5 Key Leadership Skills for Entrepreneurs

As a leader, your actions affect your team and their productivity. Hence it is essential to be armed with the right skills in order to lead your team appropriately. Having an idea and vision is great and would take you far but not far enough if your team is not willing to follow you.

There are so many leaders who take skills for granted and focus only on the vision and strategy aspect. I have listed four key leadership skills all business owners should develop.

1. Develop a strategic vision: Having passion and a great business idea is great but is not enough to grow and succeed in the business world. You need a well-thought-out strategy to build your company in an oversaturated market. Plan where you want your business to be in five years and how you are going to take it there.

2. Communicate with transparency: communication is an important ingredient in any aspect of our lives and the business world can not be left out. Be open with your team, share success and failure. Information clearly transmitted gives them context and a sense of belonging to the company. By being transparent with your team you leave them motivated to want to do and achieve more. Your company success should not revolve around you alone but with your team as well. On the other hand, if the company is facing problems, your employees will be a valuable source of ideas on how to improve things.

3. Spot and retain the best talent: The growth of your business and success rests heavily on your team. Successful leads have a common trait; They surround themselves with talented, courageous, loyal people. Once you have recruited them, invest in their development through training and coaching.

4. Know how and when to delegate: As a leader, you can’t run everything on your own, this is why you hired professionals in the first place. Having an ego and trying to do handle everything on your own is not a good way to go. Successful leaders are the ones who know they can’t handle everything on their own; the CEO, the chief financial officer, the marketing director, and the sales manager at the same time. They share, delegate, and empower their teams.

5. Lead by example: Lastly, show your team how to act do not just tell them. Be honest and ethical in everything you do. Have strong values. Live what you are preaching.

No one was born a leader it takes a lot of learning and unlearning. Use these skills above and watch how you slowly climb up the success ladder.


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