The views expressed by the business participants are their own.
What makes a good leader?
Ask any entrepreneur, and you’re likely to get different (albeit, very similar) answers. You may have heard that a good leader is strong, decisive, confident and loyal. Or maybe the “good” leader for you is optimistic, creative and forward-looking.
After more than 20 years as a CEO, I can tell you, my definition of “leader” has changed over time. Facing challenges, resolving employee conflicts, making mistakes and overcoming burnout will do that to you. So, while I don’t have a textbook definition of leadership, I can share what I consider essential when it comes to being an authentic, compassionate leader. And I’ve learned that business leadership cuts across all business sectors.
Related: 50 Rules of Being a Great Leader
1. Set intentional habits
A leader is someone who is serious about his habits. Whether you’re part of the “climb and grind” crowd or prefer to take it slow, you’ve thought about how you manage your day, your life and your business.
As an entrepreneur, my schedule is everything – not because I need scheduled blocks of time, but because, if I didn’t prioritize, what’s important to me would fall by the wayside. By setting intentional habits, I know I have created time for my physical health, mental health, family and recreation, in addition to my business obligations.
Without intention, we are vulnerable to falling prey to bad habits. Distraction and avoidance become our downfall. A great leader knows what is most important to them, directs energy to activities that can have the greatest impact and manages their time, not the other way around.
2. Practice great honesty
I started reading with great honesty in Brad Blanton’s book. And at first, I really struggled with it. I realized how often I used the “white lie” excuse to ease my discomfort and avoid conflict. But this was doing nothing for me or my team.
Through practice, I learned that great honesty is about putting things first even when it’s uncomfortable. This does not mean to be brutally honesty (you can tell the truth without hurting others), but maintaining open communication and vulnerability. Greater honesty leads to better conflict resolution and further development of your character as a leader. It also builds trust with your team.
Many business owners believe that you need to be focused or sharp to be successful. In fact, a great leader speaks the truth with compassion, while seeking to understand the perspectives of those around him. For me, great honesty is important if you want to resolve the conflict in the right way, not the easy way.
Related: Stop Lying To Your Team – And You. Try Greater Loyalty Instead.
3. Generosity over personal gain
As business owners, many of us are drawn to the lure of financial gain. And while this isn’t inherently bad, focusing your tunnel vision on profit alone can keep you from seeing the most personally rewarding and soul-giving opportunities.
I truly believe that what you give comes back to you in dividends, not always as financial rewards but as personal development, friendships and experiences in life. A great leader understands that giving is more important and impactful than financial gain alone.
Give to your community, your team, your friends and your family. Whether that’s through service, donations, sharing information or providing career development, you’ll feel a stronger sense of purpose than a startup entrepreneur.
4. Face challenges with compassion
A leader is someone who does not shy away from challenges. At the same time, a leader does not fight challenges with aggressive determination, but approaches them with a compassionate, thoughtful approach that considers multiple factors and perspectives. Resolving conflicts in this way is difficult, but that is the measure of a determined, self-aware leader.
For one thing, a great leader doesn’t reinforce other people’s opinions. They take the time to listen to input, consider the information and proceed with what is best for the organization as a whole. Sometimes, it means knowing when to say “no” – even to yourself.
At the same time, the leader does not brag about past failures. They view each challenge as an opportunity to learn, overcome and grow. It is more productive to channel positive energy into furniture projects than to fix the past.
Leadership means having compassion for others and yourself, even when making decisions is difficult and mistakes are inevitable.
Related: 5 Common Employee Problems and How to Deal With Them
5. Know your limits
A leader never makes a mistake. You have skills, but you also have limitations. A great leader can recognize the strengths of others and know when to move away from roles that no longer serve them.
This does not mean delegating work to others just for the purpose of extending your work but knowing your limits and identifying your complement in others. Usually, there are people in your mind who are ready and able to step up and prove their chops.
As a CEO, I needed to find my “nobody”. This is the person who tells me when I’m going my own way and when it’s time to assign more equipped team members. He keeps me from getting pulled into the weeds instead of focusing on the top priorities of my company.
A leader knows what he is good at, what he is not good at and it is time to allow space for others to step in.
Every leader is different. And while the values of honesty, integrity and team management come into play, the exact skills will vary from person to person. I encourage all entrepreneurs to examine their leadership style and define their “priorities” – negotiable, if you will. Know that these may change over time, but leading with purpose is always the way forward to increase your impact.
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