Small businesses need to grow in order to stay profitable and keep ahead of the competition. Is yours keeping up? If not, rooting out the true cause of growth issues is key. And that may mean looking at your leadership. Why? Here are a few ways that good leadership promotes growth in any circumstance.
1. Setting and Reaching Goals
What are your goals as an owner or manager? What are the company's goals overall? How does it reach them? Does it tend not to? Goal-setting is both a science and an art form, and it comes from leadership. Management and supervisors need to know what kinds of goals to set, how to motivate teams to reach them, when to adjust, and how to set both short- and long-term goals.
2. Communicating Clearly
Everyone in your operation needs to be working together as a team toward growth. And a vital part of this is communication — on interpersonal, company-wide, and public levels. Modern communication involves balancing directness, tact, motivation, discipline, and clarity in speech, texting, phone communication, memos, emails, and documents. The better your team communicates, the more smoothly growth happens.
3. Creating a Good Culture
Company culture helps lure and keep both good customers and good employees. And as younger generations become both clients and workers, they expect more out of a company's culture. Does yours align with your values? Does it align with the interests of valuable employees and skill sets? Does it align with customer priorities? If not, that culture can only be built by management.
4. Displaying Empathy
Sure, empathy doesn't directly mean more sales or less turnover, but it boosts the things that do. Today's employees expect empathy from management that can be seen in practical ways. This may mean flexible work environments, nontraditional benefits, an open-door policy, remote work options, or realistic staff rules. However, a good manager can also balance empathy with doing their duty.
5. Defining Your Vision
Whether you run your business mostly on your own or with a large team, you must create a long-term vision for the business. Managers focus on the near-term future, but true leaders see beyond the week, the month, or even the year. Ownership and management will need to keep their eyes on how they want the business to look down the road, and then they must work to guide it there. But this, of course, is not always easy.
Where Can You Start?
Could your leadership do better in any of these areas? Find out by meeting with a leadership coaching service in your area or industry. They will work with you to fill the gaps in your management and employee leaders so you can continue to grow into a strong and stable company.
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