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Why leadership is essential to small business success

Written by Renzie Richardson, BHFL Group

A small business can be a family-owned business, a home-based business, or a small company. They are usually privately owned and operated, not as large as larger businesses.

Most small business owners have never led a team. You have never had to. Most of us have been team members, not team leaders.

Leadership in a small business often differs from leadership in other organizations. Small business owners are more hands-on and involved in the day-to-day running of the organization than leaders of larger companies or organizations. They may be called on to perform tasks that lower-level managers would typically do in other types of organizations.

Below are some of the most critical responsibilities.

To Give Direction

The role of the leader is to create and maintain a vision for the organization’s future.

The leader must be able to give direction, provide resources, and provide a sense of purpose for all employees.

You also need to be able to motivate your team members and keep them on track. This is where leadership comes in. There are many different leadership styles, but it’s up to you which one will work best for your company.

The Business Feel and Culture

The business feel and culture are a significant part of a small business’s success. Many different components make up the feel and culture of a small business.

One of the most significant components is the leadership style. The leadership style should be adapted to fit the needs and goals of the company. The leadership style will depend on whether or not the company has multiple levels of management, if it is an entrepreneur-led organization, or if shareholders are involved in decision-making.

Keep the Business Together

A leader is a person who can inspire, motivate and guide others. A small business leader must be able to keep their business cohesive while also managing the day-to-day operations.

Some of the qualities that are necessary to lead your business are:

1) The ability to take charge of any situation

2) The ability to make tough decisions

3) The willingness to delegate tasks and tasks appropriately

4) Good communication skills

Summary

Most small businesses start with you, the business owner, as the only employee. You will need to build a team to grow your business. At $10 an hour and 60 days of training, it will cost you $3500 each to train each of them. Outstanding leadership will build a great team. Hence the expression” Teamwork makes the dream work.”

BHFL Group will help you build a great team. Our leadership development coaching will make sure you are ready.

Schedule a call today to discuss!


Renzie Richardson, is a certified Business Coach, Mentor, supplier diversity, and Change Practitioner. www.bhflgroup.com, info@bhflgroup.com, 470-655-1676


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