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Tag: Leadership Skills

  • Great Leaders Must Be Great Coaches — Here's How to Become One | Entrepreneur

    Great Leaders Must Be Great Coaches — Here's How to Become One | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    What makes a great leader? Our traditional visions of leadership often center around a lone hero taking charge and charting a bold path for others to follow. But in my years of research on leadership development and my experience training hundreds of executives at top companies, I’ve found that successful leaders are much more relational and cooperative than this outdated view imagines.

    An entrepreneurial leader coaches her team to unleash their full potential. She helps team members develop a vision for their ideal versions of themselves and fuels their intrinsic motivation to bring these ideal selves to life. Your job as a leader is not to blaze a path alone. It is to inspire your team to move forward together.

    Related: 3 Effective Ways to Lead as a Coach Rather Than a Boss

    How to inspire growth

    To be a successful leader, you must become an expert in how to help others grow and develop. Unfortunately, many of the existing models for professional and personal development focus on setting goals, tracking progress and measuring outcomes — and inevitably lead to feelings of failure and disappointment when we fall short. These punitive, results-driven models don’t offer the inspiration and support people need to fuel lasting change.

    There is a better way to coach your team. The research-driven approach I teach at Babson College’s Arthur M. Blank School for Entrepreneurial Leadership is based on two existing behavioral change models that are built around internal psychological development and self-realization, instead of externally imposed metrics.

    Intentional change theory (ICT), developed by Richard Boyatzsis, posits that people change themselves in a sustained way by making five self-discoveries, which I will explain in detail below. These self-discoveries lead to a vision of our ideal selves, which serve as our North Star as we grow and develop, and a process for aligning our current selves with our ideals.

    Edward L. Desi and Richard Ryan’s self-determination theory (SDT) argues that the chances for sustained change are highest when people are driven by intrinsic motivation — their self-developed, internal motivations for change — as opposed to external motivators such as pay and praise. We are most likely to achieve this intrinsic motivation when three basic needs are satisfied: autonomy (a sense of being self-directed), relatedness (a sense of connection with and care for and from others) and competence (a sense of self-confidence in our words and actions).

    To be a great coach and effectively develop your team, you must meet these three SDT needs that are the springboard for intrinsic motivation, and then use that motivation to help your team members achieve sustained change by guiding them through the ICT discovery process. I’ll explain the discovery process step by step to demonstrate exactly how it works, and you can read more in my paper on this topic for Leadership Quarterly.

    Related: How Real Leaders Coach Their Employees For Success

    The process of intentional change

    First, successful coaches encourage people to find their ideal selves — the initial discovery. The ideal self is someone’s aspirational view of who they want to become or what they want to do, instead of what they feel obligated or expected to be. The ideal self serves as a guiding light giving life to someone’s aspirations and actions. 

    You can help team members identify their ideal selves by asking targeted questions to develop a vision statement for who they ultimately want to be. A vision statement isn’t a traditional goal, but instead an inspiring description of someone’s biggest aspirations. The questions should also positively impact a person’s feelings of autonomy, relatedness and competence (the three core SDT needs). This will build trust in the coaching relationship, allowing team members to tap into the creative and vulnerable space needed to identify their ideal selves. As your team’s needs are met through discovering their ideal selves, their intrinsic motivation will rise.

    You should take a similar approach to the second discovery process: helping team members identify their real selves. The real self is someone’s current self as expressed through their values, strengths and weaknesses, personality and more. As in the first phase, you can employ questions and assessments that fulfill each of the three SDT needs as your team members work to pinpoint their real selves. Commonly used assessment tools such as Firo-B, Strength Finders, MBTI and DISC help people identify the strengths and capabilities they can leverage to move closer to their ideal selves.

    After your team members have identified their ideal and real selves, you can guide them to develop a learning agenda. This agenda outlines concrete action steps by which someone can close the gap between their real and ideal self by harnessing the strengths identified in the prior phase. A learning agenda should be inspiring and aspirational while offering feasible and concrete steps to align the real and ideal selves, a balance that helps maximize motivation and persistence.

    Your team members can then move to the fourth discovery step, experimentation and practice, where they try out a “provisional self” by practicing the actions from their learning agenda that will move them closer to their ideal selves. Keep an eye on your team members’ connections to their ideal self during this experimentation. If they seem unmotivated or start to lose direction, you should help them reconnect with their ideal self, potentially by returning to the first phase in the process if necessary.

    The final discovery — trusting relationships — is not a phase of its own, but a quality that should happen at each stage in the process. True, lasting change is most likely if there is a trusting, supportive relationship between an individual and their coach. It is your role to help foster this relationship with your team members throughout the discovery process and beyond, which will both increase their likelihood of success and serve as a boon to their motivation and overall wellness.

    Related: 10 Rules for Coaching Your Team to Greatness

    Effective entrepreneurial leaders coach their team members to become the most aspirational versions of themselves. This approach creates psychological safety and satisfies people’s needs in a way that allows them to maximize risk-tracking, creativity and innovation. They will be ready to confront a world with increasingly complex and unexpected challenges that require dynamic solutions.

    Becoming a better coach — and making sure other leaders in your organization are effective coaches — is one of the best ways to supercharge your organization’s success and your team’s fulfillment.

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    Scott Taylor

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  • Why Gratitude Makes Leaders More Effective | Entrepreneur

    Why Gratitude Makes Leaders More Effective | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Recently I had one of those days. Although nothing catastrophic happened, there were a series of minor events that didn’t make for a good day. In turn — as a result of my mood — many of the daily road bumps felt worse than they really were. By the end of the day, I was exhausted and frustrated.

    However, I didn’t want to spend what time I had left in the day feeling this crummy. It wasn’t fair to my family or me. The last thing I wanted was to be short with them or to lose sleep because I was tossing and turning. So, I took a few minutes for myself and focused on all the things that went right today. I also reflected on all the small things that made the day awesome.

    And guess what? I didn’t just feel better. I felt amazing.

    It may sound strange, but this is the power of gratitude. It’s one of the most effective ways to become not only a better leader but also a better person. But, if you are not convinced about this, let’s explain why great leaders should practice gratitude and how they can do so every day.

    Related: Cultivating Gratitude and Happiness Will Boost Your Business

    How gratitude makes you a better leader.

    Before I discuss how gratitude can make you a better leader — I think everyone should be aware of why we know about the gratitude practice. The effects of gratitude were studied in the works of Robert Emmons, Ph.D., at the University of California, Davis. Emmons studied the impact of gratitude on physical health, psychological well-being, and on our relationships with others. Immersed in this work for over a decade, Emmons found that gratitude comes with the following benefits:

    Physical

    • Stronger immune systems.
    • Not as bothered by aches and pains.
    • Lower blood pressure.
    • Exercise more and take better care of their health.
    • Sleep longer and feel more refreshed upon waking.

    Psychological

    • Higher levels of positive emotions.
    • More alert, alive, and awake.
    • More joy, optimism, happiness, and pleasure.

    Social

    • More helpful, generous, and compassionate.
    • More forgiving.
    • Feel less lonely and isolated and are more outgoing.

    While those are all perks that anyone can enjoy, positive psychology is particularly useful for anyone in a leadership position. If we’re not taking care of ourselves mentally and physically, coping with the demands of being a leader will be more difficult.

    Gratitude research from Emmons and Anjali Mishra discovered that expressing gratitude lowers stress. They also found that “gratitude enhances effortful goal striving.”

    That’s well and good? But, what how can gratitude make you a better and more effective leader?

    Nicole Lipkin writes that leaders should cultivate gratitude because it breeds employee engagement, more positive interactions, and builds resistance. What’s more, gratitude helps you acknowledge your accomplishments. Thankfulness encourages you to focus on your successes. You will not be consumed by the success or failures of your competitors, and you’ll be making the world better for those around you.

    Gratitude, while allowing you to embrace your accomplishments, also keeps your ego in check. That’s because appreciation will enable you to realize that without assistance from others, you wouldn’t be as successful. Maybe it’s because you have a spouse who was your primary source of support and inspiration. A business partner provided you with the finances to launch your business. Or, thanks to their hard work and dedication, your business idea has become a reality because of your employees.

    Also, when we’re thankful and optimistic, others gravitate towards us. Being approachable and encouraging is critical when networking and attracting top talent. A study from the University of Pennsylvania that shows when leaders are grateful to their employees, the employees are 50 percent more successful.

    Furthermore, a study conducted by David DeSteno at Northwestern University found that being thankful or appreciative improves financial patience. And in the words of Gary Vaynerchuk, “It’s impossible not to stay motivated or get too down when you’re feeling grateful.”

    Related: This Simple Daily Habit Will Add More Gratitude to Your Life

    How leaders can practice gratitude daily.

    If you’re ready to tap into the power of gratitude, here are nine simple ways you can practice gratitude day in and out.

    1. Schedule time every day to reflect with gratitude.

    I get it. You have so much on your plate that I doubt practicing gratitude is a priority or at the top of your mind. However, if you block out a specific time to practice gratitude in your calendar, it will become a priority. And, eventually, recognition of what you have to be thankful for will turn into a habit.

    For example, you can up your game of awareness by scheduling time to reflect with gratitude during a break. Consider a meditation-moment by closing your eyes and thinking about any pleasant surprises you’ve experienced so far. Imagine what life would be like without your employees. Consider how good your business is doing — and the thanks should go to your customers, employees and your community.

    Personally, I’ve made gratitude a part of my nightly routine. I jot down everything that I’m thankful for in a gratitude journal. It’s a great way to end the day and puts things in perspective during those more challenging days.

    2. Be authentic.

    Gratitude is more effective when it’s authentic. For example, if an employee just completed a project, as a grateful leader you can do more than offer a generic “thanks.” Name a specific action, saying something like, “Thanks, Jim, for getting this project to me before the due date. I appreciate that you’re so reliable.”

    3. Celebrate wins both big and small.

    We all love celebrating the significant milestones, and, you definitely shouldn’t stop doing that. But the massive breakthroughs don’t happen daily. However, each day, you encounter smaller victories and happy moments. With that in mind, if you catch a team member doing something awesome, grateful leaders shouldn’t hesitate to let them know you like that and appreciate their efforts. Those seemingly unimportant words of encouragement will add-up over time.

    4. Compliment your team daily.

    Compliments and praise should be authentic and genuine, and you may need to practice the extra effort of saying something if you sound phony. Don’t be one-of-those leaders who say, “sure appreciate you” while reading a report. Keep in mind the importance of eye contact, an actual win, a real compliment. When your efforts are genuine, it makes the other person feel like a million bucks and becomes natural to you.

    Examples could be complimenting your colleagues on their sense of humor, asking questions, always arriving early, or taking the initiative. Other options could be recognizing how helpful someone on the team is to others — their positive energy, and their creativity or knowledge.

    5. Don’t forget to acknowledge your unsung heroes.

    Every workplace has a “rockstar.” That’s necessarily a bad thing. But, you don’t want to always shine the spotlight on them. Give acknowledgment to the back-up-singers, the backing band and roadies as well. Recognize your support columns, not just your angel-corbels at the top.

    For example, I always give a shoutout and occasionally send my freelancers goodies. Sending something demonstrates to them that I appreciate their hard work, and it also makes them feel like a part of the team.

    6. Take an interest in your organization.

    I would say that taking an interest could be the most natural good thing you could do to show your employees your gratitude. Just take a couple of minutes to shoot the breeze with them. Some of your employees have no one but the team to depend on for support. You can include them as part of your team by giving them a shout-out.

    Send an email, shoot out a quick Slack — do something. Ask your team questions so that you get to know who they are. Inquire about how they’re doing, and what they’re into and thinking about. It’s a simple way to show that you care about them as a person and that they’re a part of your organization’s community.

    7. Provide learning opportunities.

    Research from ClearCompany shows that 76 percent of employees want opportunities for career growth. Go ahead and provide them with personal and professional learning opportunities. Examples are online classes, in-person workshops, or the chance to attend an industry conference — maybe even meeting up with you and your group.

    Related: This Is How to Boost Employee Retention With Lifelong Learning

    8. Let employees have a say.

    When employees have the opportunity to voice their opinions and share their ideas, they feel more valued. It’s also another way to express your gratitude since it lets them know that you want them involved in big decisions and successes.

    You can always try out the good ole suggestion box. But, I think it’s more effective to solicit feedback from your team and leave time at the end of meetings with them, to add their input.

    9. Create a positive work culture.

    Finally, fostering a positive work culture will make your team more productive, happy, creative, and collaborative. Cultivating a positive culture amid the mad rush in tech also demonstrates that you value and respect your team as people and not just another cog in the business wheel.

    There are numerous ways you can achieve a positive atmosphere, and thus have a positive impact on your team. You can start by greeting your employees when they arrive every morning. You could also surprise them by buying lunch, playing games on a Friday afternoon, and being respectful of their time. Don’t forget to grant your team autonomy and address any toxic behaviors ASAP.

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    John Rampton

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  • Unconventional Leadership Tactics That Define a True Leader | Entrepreneur

    Unconventional Leadership Tactics That Define a True Leader | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We have all likely experienced a horrible boss. Someone on a power trip who micromanages, rarely communicates, holes up in a corner office and sets themselves apart from their team. The Horrible Bosses movies probably come to mind. That approach to leadership is a one-way ticket to disgruntled employees, a toxic workplace and poor business performance.

    I have found that taking a more unconventional approach to leadership creates happy, engaged employees who come to work each day ready to kick butt. Leaders who want to take a similar approach can learn from how we are flipping the script on leadership at VizyPay, putting people first by:

    Related: How to Retain Employees Through ‘Servant’ Leadership

    1. Walking side-by-side on the journey

    One of the hardest things to do as a leader is to help employees view you not as a leader but as a partner. This means ditching the mindset that you are the boss and it’s your way or the highway. The best leaders want to learn and grow with their teams, walking next to them on the road to success — not in front of or behind.

    While your team intuitively knows you are their leader, the key is for your interactions to make team members feel that you are someone who truly understands them, communicates honestly with them, is willing to listen to them and understands what makes them tick.

    I personally hate the title of CEO. It is a daily reminder of power. I want everyone on my team to understand I am not in any way above them but instead a partner walking alongside them. I want to build relationships with my team and not be considered “above” joining in on activities like playing ping pong, having a beer or playing cards.

    From the very beginning of our interview process, we focus on finding the right fit for the culture by throwing out resumes because it is far more important to get to know candidates on a level beyond their education or past experience. Additionally, no matter what role the candidate is gunning for, they always meet with the CEO (myself) or another managing partner to immediately establish a horizontal hierarchy and further solidify our place as their partner on their journey. I encourage other leaders to do the same.

    2. Creating an unmatched work environment

    Effective leaders also create a work environment that employees can’t get anywhere else. Creating a work environment that is not cookie-cutter corporate is a massive risk, but it pays dividends in increasing employee loyalty. A work environment that provides freedom and a people-first culture is not something your employees are going to find in other companies.

    The bottom line is that if someone can go out and find hundreds of workplaces like yours, you have failed to care for the individuals committed to your organization.

    At my company, our work environment is the exception to the norm and might best be described as fast-paced, controlled chaos and a safe space where employees feel free to be themselves. There is a high level of accountability as well as a lot of perks, which aligns with our work hard first, play hard second mentality.

    Untraditionally, I encourage other entrepreneurs to embrace everyone’s genuine style, not just their professional personas. Building an unmatched work environment means allowing the lines of work and personal life to merge. Do not leave everything at the door when you clock in. Instead, encourage your employees to talk about their struggles and what’s going on in life, be real with one another and get uncomfortable.

    Related: How Much Does Leadership Actually Matter in a Startup?

    3. Building authentic relationships

    Bosses don’t take the time to get to know employees. Leaders do. Taking a personal interest in the lives of your employees helps build authentic relationships and mutual trust. Making it a daily habit to connect and communicate with your employees is also a great way to encourage them to take risks, think outside the box and innovate, all of which accelerate professional growth. This regular interaction can help surface information on what employees need to succeed and how you can help them if they are struggling.

    As a leader, I know the personal stories of every person on my team. I talk to employees and fist-bump them every morning. Walking around with a snack cart every other day is another way I connect and build relationships with them. An always-open door communicates to everyone that they can talk to me about anything without fear they’ll experience the wrath of “the boss.” I want everyone on the team to feel they are partners with a human being, not a jackass on a power trip. I want them to know that they are not a number or a cog in the wheel but valued partners delivering on our mission to help small businesses and disrupt the payments space.

    If C-suite leaders are serious about making an impactful change in their workplace, they should just remove their office door completely.

    Related: 12 Ways Entrepreneurs Can Sharpen Their Leadership Skills

    4. Creating opportunities for interaction and bonding

    As a leader, it is also important to create a fun environment where people want to come to work. Fun activities can help your employees destress and get to know each other better, creating a positive atmosphere that increases employee engagement.

    Our people-first workplace culture fosters an upbeat, fun environment that creates opportunities for interaction and bonding. Two examples of this are weekly-themed happy hours and annual parties that encourage people to build relationships outside of work. To that end, our employees volunteer together, attend concerts together and support each other’s families. These interactions and bonding opportunities make it easier for a team member to come to a leader for a difficult project or situation during the regular 9-5.

    As a leader, I know that a company cannot achieve anything without happy employees, and that is why I put maintaining a positive, people-first culture above anything else.

    It’s time for a more unconventional approach to leadership that focuses on improving the lives of employees. Considering that we spend a third of our lives at work, all leaders should strive to make the work experience an enjoyable, engaging journey.

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    Austin Mac Nab

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  • 5 Traits You Must Have to Create More Leaders | Entrepreneur

    5 Traits You Must Have to Create More Leaders | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    How do you define a truly great leader? While most of us have witnessed great leadership at various points throughout our careers and professional development, it is challenging to accurately pinpoint the secret sauce in leadership success. Great leaders have some obvious qualities in common, like their capacity to share an inspiring vision for the future. Great leaders often possess passion and charisma. They are strong communicators who connect, motivate and enlist their teams to achieve lofty goals. And perhaps most notably, great leaders create a line of devout followers.

    Not so fast.

    Great leadership has very little to do with one’s ability to amass followers. In his bestselling book “In Search of Excellence,” leadership guru Tom Peters explains, “Leaders don’t create followers, they create more leaders.”

    While every great business leader attracts their fair share of admirers, they simply don’t consider collecting followers as either an objective or a gauge of their leadership success. Instead, great leaders understand that a key function of good leadership is to develop team members into the best version of themselves and leaders in their own right.

    Related: 5 Ways to Develop Leaders Within Your Own Ranks

    Characteristics of a truly great leader

    Great leadership is a surprisingly nuanced and selfless role.

    Great leaders embrace their employees, not just for who they are and the functions they perform now, but also for who they can become and the position they can develop. Strong, capable employees do not threaten great leaders. Rather, they value their team’s talents, recognize their potential, and leverage their spirit of achievement.

    Great leaders create opportunities for their people’s growth — mentoring, encouraging, and elevating. They give their employees space to improve, the luxury to make mistakes, and the opportunity to learn from those errors. Great leaders grant their teams the freedom to explore and the capacity to excel.

    Great leaders care about their employees first as people and second as workers. They conduct themselves with the greatest integrity and model every day what great leadership looks and sounds like. They strategically position their people for individual growth as well as the long-term success of the business.

    Now, isn’t that far more substantial than merely creating followers?

    Related: Here’s How You Can Create Leaders in Your Team

    How to be a better business leader

    I could list characteristics of a great leader until the cows come home, but recognizing traits of a great leader and being one — well, those are two different things entirely.

    So, what can you do to improve your leadership skills and elevate yourself to a truly great leader? It all starts with connection and engagement. The following are five actions you can implement to help you become a great leader who develops more great leaders.

    1. Delegate tasks and activities

    Empower your employees and create development opportunities by strategically delegating challenging tasks. Your willingness to delegate key activities demonstrates your trust in your team and your commitment to their development. It is also fantastic on-the-job training.

    Related: 3 Ways to Effectively Delegate at Work and at Home

    2. Be a transparent communicator

    Employees should not be left to guess or assume how you feel about certain business dynamics. Being as forthcoming as possible with your team demonstrates that you respect their capacity to grasp and appreciate our positions. In short, candor builds trust.

    3. Recognize excellence

    Do you have a high performer or a passionate contributor? Don’t be shy about showing your appreciation and celebrating excellence. Everyone on your team should understand how grateful you are for their positive impact on the business’s overall success. And when they fall short, guide them to hit their mark next time.

    4. Invest in leadership development

    Create mentorship and leadership development opportunities. Remember, leadership development is not a one-and-done initiative but rather a sustained commitment to the long-term advancement of your people. Consider offering various leadership workshops, webinars and executive coaching programs.

    Related: 7 Leadership Qualities of All Great Leaders

    5. Share your vision

    By sharing your vision for the business, you provide your team with a clear sense of purpose and the opportunity for alignment. Your vision is an inspirational guide and a driving force that affects every aspect of your business and your decisions, so don’t keep it a mystery.

    By developing your own leadership skills, you also enhance your ability to cultivate those same skills in your employees, which sounds a lot like your next big step toward long-term success.

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    Jason Zickerman

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  • How to Develop Self-Awareness and Become a More Effective Leader | Entrepreneur

    How to Develop Self-Awareness and Become a More Effective Leader | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    As a senior leader, the most effective tool at your disposal is your own self-awareness. Let me say that again: As a senior leader, the most effective tool at your disposal is your own self-awareness. I hold this belief in part because of how important self-awareness is in being more intentional, but I also believe that the other qualities of effective leadership can be built and refined through greater self-awareness.

    When I start working with a CEO as a new coaching client, they’re often very oriented on what they’re doing. And this makes sense — these CEOs are constantly measuring themselves by and being measured by their results. We quickly uncover together, though, that who they’re being is even more important. Want to get better at delegation? Look upstream at your perfectionism and need for control. Want to get better at feedback? Look upstream to your assertiveness or desire to be liked.

    As a starting point, I like to explore what I call the Three Horizons of Self-Awareness. These three horizons are: the sensations we experience, the stories we make up and the strategies we enact to get what we want.

    Related: Why a Self-Aware Leader Is a Good Leader

    The sensations we experience

    Sensations are what we perceive in the outside world, such as sights and sounds, and our inside world, such as feelings and emotions. This inside world is where we find the real goldmine of self-awareness. As adults, most of us are very used to living “from the neck up.”

    That is, we are great at analyzing and assessing with our brains but rarely check in on what’s happening with our bodies — which is a shame because there’s more to our neurology than our brains alone. We think of emotions as something that happens in our heads, but imagine how fear feels in your gut, or how anger flushes your cheeks, or how sadness constricts your breathing and mists your eyes.

    This is all incredibly valuable data, information that can let us know early that something important is happening. As a tactical way to build this muscle, I recommend that my clients write down what they notice, almost like an anthropologist studying themselves. This journaling practice is a great starting point for making the subjective feel more objective. I encourage my clients to keep this journal close, to record things in the moment or after some deep breaths and reflection.

    The stories we make up

    Stories are the foundation for how we make sense of the world. We could call these judgments or beliefs as well. Imagine that you get cut off by a car on the highway. In an instant, you might feel a flash of anger. Now imagine that you pull up next to the car and notice that the situation is different from what you expected. Maybe the driver is a teenager, obviously flustered and trying to concentrate. Maybe the driver is older but in the backseat is someone who, it appears, is injured. In either case, your stories about the situation would be updated in an instant.

    For better and worse, our stories form the basis for how we make sense of the world. They are our thoughts, and they help us explain how the world is, how someone else is and how we ourselves are.

    To get greater self-awareness around our stories, I find it’s best to simply start writing them down. Going back to a dedicated journal or notebook, start to articulate all the stories you’re making up, trying to get curious about how true they are. In the example, one story could have been, “This person is selfish,” and another could have been, “I feel angry because I’ve been disrespected.”

    Related: 3 Simple Ways to Be More Self-Aware as an Entrepreneur

    The strategies we enact

    Finally, our strategies are simply what we choose to do out in the world. At a core level, our strategies aren’t simply our actions, but how our actions connect to trying to get what we want. This third horizon of self-awareness is also where we have the most control.

    I believe we don’t have any control over our sensations — we feel how we feel when we feel that way. I believe we have some control over our stories — we can rewrite them in time, but most of them are so automatic and subconscious that, in the moment, they just show up. But I believe we have 100% control over the strategies we choose to use.

    To get a stronger understanding of your own strategies, start to develop a “greatest hits” album of your go-to moves. Start to write down what you notice yourself doing (e.g., engaging with more aggressiveness or being passive), and ask why you’re doing that enough times to get really clear on what your strategy is. Again, the benefit here comes from making a deliberate effort to practice writing down and noticing yourself across all three horizons.

    Tying it all together

    Here’s a simple example from a client; let’s call her Shruti. Shruti and one of her direct reports, who we’ll call John, disagreed on the formatting style of a document that was going to the CEO. In that moment, Shruti noticed her primary sensation was frustration, and her primary story was that John didn’t respect her or her point of view.

    Here’s an interesting thing she noticed next: Her first strategy was to shut down and let John do it his way, but not because she embraced curiosity and the possibility that John could be right. Oh no, Shruti was hoping the CEO would call John out on the poor formatting!

    It’s not just noticing what we do, but really getting curious and honest about the motivation behind it — how our strategies help to address our stories and sensations. In a quiet and indirect way, Shruti was trying to rescue back some of her self-respect by setting up a “gotcha!” moment with John. And, in doing so, she wasn’t being congruent with herself by taking a more intentional approach, such as assertiveness for what she wanted or curiosity to genuinely try things a different way.

    In this case and others, though, being self-aware of what is happening is the important first step in choosing a better path.

    Related: Why Self-Reflection and Self-Awareness Are Vital Skills for Any Entrepreneur

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    Jason R. Waller

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  • What is an Empathetic Leader? (Plus 3 Tips on How to Become One) | Entrepreneur

    What is an Empathetic Leader? (Plus 3 Tips on How to Become One) | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The massive layoffs in the tech industry earlier this year sparked an interesting conversation here. It’s one I continue to remember long after. Leaders and organizations are often put into positions where difficult decisions that impact others must be made — where employees, vendors, partners and even customers can be affected by our choices.

    Determinations are rarely made by the company’s founder or CEO alone. We don’t typically have ultimate control. It is often the Board of Directors, venture capital investors or shareholders with voting shares. There can be circumstances that are beyond anyone’s control. Significant revenue loss or economic turmoil often force painful decisions.

    Related: A Guide to Effective Crisis Leadership — Key Steps to Lead Your Team Through Turbulent Times

    Yet, when choices have to be made, we usually must deliver the message. When people you’ve worked with closely feel the brunt, it is particularly challenging. We’re not always taught how to navigate hard decisions in business school or what to do when something has a ripple effect on others. What I have found to help is empathetic leadership. When the going gets tough, empathy can carry a lot more weight than might be expected. It can also wield much power far beyond challenges, which can benefit your day-to-day operations and bottom line.

    There are a lot of misconceptions and misunderstandings about empathetic leadership. Some see “empathetic” and forget that “leadership” is a significant part. They assume that empathetic leaders are soft or meek. In reality, they are strong, talented people who are highly skilled at driving success – while recognizing the value of people. Empathetic leaders can look at any decision, issue or discussion, and see their business from multiple angles and understand other people’s viewpoints. There are endless examples of this leadership approach having a dynamic impact on organizations.

    At my company, BriteCo, we’ve seen empathy help enable employee retention, drive customer satisfaction and sales, improve innovation and create a supportive work environment and culture. People who feel appreciated and acknowledged want to go to bat or you and your business. Our employees are excited and engaged and want to contribute. They function in a safe environment where everybody feels that they can weigh in. They feel heard and valued, relevant and important. It has also helped us recruit outstanding talent, where people have referred colleagues and former co-workers to us. That culture of empathy has spread to partners, customers, vendors and every aspect of our business. When you’re an empathetic leader, the approach and benefits are felt company-wide.

    It doesn’t mean empathetic leaders do not have to make hard decisions. Cutting jobs, ending vendor contracts, or other determinations that impact people are often still part of the job.

    But, when these instances arise, you are caring for people in the best way possible. For example, a company that I am familiar with had to lay off employees. They approached it by being transparent, caring and honest about the situation. They then opened their professional network to help workers find roles elsewhere. It may not have made the decision any easier, but they knew that they handled it in the best way possible. It helped take away the sting of separation for everyone involved.

    Related: 7 Ways To Stay Resilient As a Leader During Turbulent Times

    For entrepreneurs who are interested in incorporating empathy into their companies, these three steps can help:

    1. Learn – Exploring the principles of servant leadership can be a good starting point. There are books, videos and media articles to help you learn and foster your skills. At its very base, empathetic leadership requires having an open mind and putting value on everybody regardless of who they are or their role in the company.
    2. Care – Empathetic leaders cultivate genuine care for others. They do not just see people as employees, vendors or business partners. They are interested in who they are, their opinions and their perspectives. As they operate and lead their companies, they have everyone in mind and try to tap in. It can take an extra step, but it can be highly valuable.
    3. Listen – Let people give their input and ideas without being judgemental. Give people the benefit of the doubt. Let them say whatever they want to say, and make sure you are really listening. Listen and hear, and take that data and turn it into actual insight. Some of our best ideas originate from conversations with employees, vendors and partners.

    A great example of empathetic leadership in action was a recent story a colleague shared. One of the company’s team members began coming late to work and missing company deadlines. Rather than reprimanding the actions first, the leader at the company asked the employee if something may be causing the issue with their work and performance. It turned out that the employee was navigating a difficult situation in their personal life.

    Related: How to Lead With Resilience, Empathy and Vision Despite an Uncertain Future

    Within that conversation, the two discussed some ideas and tactics the employee could use to help balance their work with life challenges. It also created a bond between the leader and the employee. The employee felt heard and valued. Soon after, the work issues stopped, and the employee has been a top performer. It can be easy to jump to conclusions or assume the worst when problems arise, but often, some causes may not be immediately evident. Empathetic leadership looks for resolutions and solutions in a different way.

    Those who are currently empathetic leaders should continue to strive to expand their abilities. Empathy can sometimes mean acting against your beliefs and putting others ahead of yourself. But, the benefits to your organization and business can be immeasurable.

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    Dustin Lemick

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  • How Adaptive Leaders Find Success During Market Volatility | Entrepreneur

    How Adaptive Leaders Find Success During Market Volatility | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If there is one thing we know for certain (other than death and taxes) it’s that volatility and the markets go hand in hand. We’ve seen the stock market crash of 1929, the dot-com bubble of the early 2000s, the financial crisis of 2008, the recent surge in blockchain and its related cryptocurrency rise and fall, the Covid-19 pandemic, and global tensions all demonstrate periods of marked volatility.

    My area of specialization, which is the Small-Micro Cap IPO market, has recently been extremely volatile. 2021 emerged as a robust year for initial public offerings, driven by favorable economic conditions, a surge in technological innovation, strong investor appetite and the popularity of SPACs. 2022 and 2023 on the other hand, have been two of the worst years in the IPO sector in past decades, primarily due to significant market corrections influenced by economic factors, geopolitical events and heightened investor caution.

    Throughout my 35-year journey as an entrepreneur, I’ve traversed diverse experiences, from encountering significant hardships — particularly during the tumultuous days of the great recession — to celebrating success. These hardships and setbacks became powerful lessons in resilience, compelling me to explore innovative solutions when adversity was overpowering. In these moments, I gleaned profound insights into the pivotal importance of adaptability.

    In my current role, as the CEO of Exchange Listing, I’ve had the privilege of leading companies through the ever-changing landscape of IPOs, while at the same time scaling my business. Over the years, I’ve learned that in this volatile environment, adaptive leadership is not just a choice; it’s a necessity.

    Related: Adaptive Leadership Lessons For Transformational Growth

    The challenges of making informed decisions during market volatility

    Market volatility refers to the degree of variation in financial market prices over time. It often stems from a combination of factors, including economic data, geopolitical events, investor sentiment and unexpected events like natural disasters or, as we all learned in 2020, global pandemics. Volatility is typically measured using metrics such as standard deviation or beta.

    Navigating the intricacies of making informed decisions during market volatility presents a formidable challenge. Market turbulence, shaped by various factors such as economic data, geopolitical shifts and unexpected events, can trigger emotional responses that lead to impulsive choices. Short-term focus can eclipse long-term objectives, compounded by the overwhelming flood of information. In times of volatility, the natural inclination may be to minimize risk, but this approach could lead to missed opportunities. Successful decision-making in such an environment requires adaptability, resilience and a commitment to remaining well-informed.

    As an adaptive leader, in the small/micro-cap IPO sector, my decision-making process is grounded in gathering real-time market intelligence from diverse sources. This strategy ensures that I maintain a high level of awareness and stay continually informed of the most recent developments in the dynamic, ever-changing IPO financial landscape.

    The importance of triangulating information from trusted and relevant sources ensures that my understanding is comprehensive and reliable. Before implementing any strategies or decisions, I prioritize stress-testing my theories with my advisors and team, valuing their insights and perspectives. I have found that a collaborative approach helps refine and strengthen my choices and avoid making emotion-based decisions.

    Understanding the adaptive leader

    Adaptive leadership is distinct from other leadership theories and styles because it focuses on mobilizing individuals and organizations to adapt to changing environments and address difficult issues. It encourages leaders to view challenges as opportunities for growth and learning rather than simply seeking technical solutions.

    The term “adaptive leadership” was developed by Ronald Heifetz and Marty Linsky at Harvard University’s Kennedy School of Government. Entrepreneurs are naturally adaptive leaders who seek out and thrive in environments characterized by uncertainty, rapid change and multifaceted challenges. Their ability to identify opportunities within chaos, pivot when needed and continuously learn from setbacks positions them as adaptive leaders by nature.

    Entrepreneurs possess the resilience to confront unexpected obstacles head-on, the agility to adjust strategies in response to shifting market dynamics and the willingness to embrace innovation and experimentation as integral parts of their leadership journey. This innate adaptability enables entrepreneurs to navigate turbulent waters, drive innovation and lead their ventures toward success amidst complexity and ambiguity.

    Taking time on the balcony, a concept coined by Heifetz and Linsky provides adaptive leaders with a valuable vantage point to gain perspective and assess complex situations objectively. It allows them to step back from the heat of the moment, observe patterns and make more informed decisions. This reflective practice is a strategic advantage, enabling adaptive leaders to navigate through ambiguity and volatility with greater clarity and insight. I value my time on the balcony, where I look to gain perspective when tackling pressing challenges, looking backward and forward at the same time.

    Related: Why an Adaptive Mindset Matters for Entrepreneurs

    Adaptive leadership in action

    In the throes of market volatility, adaptive leadership takes on even greater significance for entrepreneurs. It’s not just a theoretical concept; it’s a practical necessity for navigating the turbulent waters of today’s business environment. As entrepreneurs, we know that market volatility is the new normal, and adaptive leadership is the compass that helps us chart our course through these challenging times.

    Consider this scenario: Market dynamics are in constant flux, and as entrepreneurs, we’re tasked with making pivotal decisions. Adaptive leadership starts with a deep understanding of ourselves and our teams, allowing us to pivot swiftly when faced with unexpected challenges. It’s about being agile, not just in response to market turbulence but as an integral part of our leadership style. During bouts of market volatility, adaptive leaders see these disruptions as opportunities for innovation and growth. For instance, when faced with economic downturns or supply chain disruptions, adaptive leaders and entrepreneurs might rethink their business models, explore new revenue streams or harness technology to adapt to changing market conditions. This proactive, agile mindset is what sets us apart and helps us thrive even in uncertain market environments.

    Market volatility is a constant presence in business. In recent years, we have seen how market volatility can be influenced by countless factors — and while some may struggle, others flourish amid this turbulence. These individuals, the adaptive leaders, possess a unique skill set that equips them to navigate this volatility and make informed decisions that drive long-term success. The ability to adapt and make informed decisions in an ever-changing financial landscape is a sign of leadership excellence. Adaptive leaders not only survive market volatility but thrive in it, emerging stronger and more resilient with each challenge they face.

    Related: How to Demonstrate Leadership Through Market Volatility

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    Peter Goldstein

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  • How to Be a Great Manager — 5 Essential Tips | Entrepreneur

    How to Be a Great Manager — 5 Essential Tips | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Being a good manager is about more than just being proficient in your field — in fact, it’s a distinct skill that requires its own cultivation. As Michael E. Gerber says in his classic business book, The E-Myth, not all good bakers should become bakery owners. Over the course of my entrepreneurial career, I’ve found this advice to ring true again and again, and it continues to motivate me to improve my own management skills.

    In this article, I want to share five essential tips that will help you become an effective and successful manager. I apply these tips every day in my role as founder of cat brand tuft + paw, and it’s led us to incredible results.

    Related: What Sets Apart A Good Manager From A Bad One?

    1. Embrace radical honesty — high empathy + high directness

    The foundation of effective management lies in radical honesty — a perfect balance between high empathy and high directness. This means being forthright and transparent in your communication while empathizing with your team members’ feelings and perspectives. Avoiding difficult conversations can create more significant problems in the long run, undermining trust and respect — and frankly, wasting everyone’s time.

    Incorporating radical honesty into your management style can be challenging, especially if you’re a naturally reserved person, but I promise the payoff is worth the effort. I recommend periodically checking the radical honesty graph from Kim Scott’s book, Radical Candor, which serves as a reminder of the balance you’re aiming for. Strive to address issues directly and promptly, keeping in mind that honesty is the highest form of integrity. By cultivating this open and transparent environment, you will foster a culture of trust and respect within your team.

    2. Build trust and rapport through face-to-face interaction

    While radical honesty is essential in the workplace, it’s also important to build personal trust and rapport with your team. Make time for unstructured get-togethers with your team members, providing an opportunity for genuine connection beyond work-related discussions.

    Listen actively to the conversation and participate. We’re all humans with our own desires, concerns and experiences, and connecting on that personal level is the best way to show that you care. Over time, this approach fosters a sense of belonging and strengthens the team’s commitment to achieving shared goals. Building strong relationships with your team will not only enhance team morale but also enable you to better understand everyone’s unique strengths and weaknesses.

    3. Encourage open and honest two-way communication

    Building upon your own radical honesty and rapport with the team, encouraging open and honest two-way communication is the next piece of the management puzzle. Establish a culture where team members feel comfortable sharing their thoughts, concerns and ideas without fear of repercussions. As a manager, practice what you preach by actively seeking and valuing feedback from your team. Act on their suggestions when appropriate, which proves to them that their voices matter.

    Additionally, create forums for open dialogue, such as regular team meetings or anonymous suggestion boxes. Emphasizing transparent communication will quickly lead to improved problem-solving and better team dynamics, and in the long run, it will build the foundation for a more innovative company.

    Related: 6 Common Things Good Managers Do to Create Engaged Teams

    4. Give autonomy and flexibility to your team

    Great managers understand the importance of giving their team autonomy and flexibility in their roles. Trust your team members to take ownership of their tasks and responsibilities, and empower them to make decisions and contribute creatively.

    An excellent way to do this in our current work landscape is to offer flexible working hours or remote work options. By allowing your team to build a schedule that works for them, you’ll help create a workplace culture that prioritizes a healthy work-life balance. Employees who feel supported in their personal lives are more likely to be productive and engaged at work. However you choose to do it, giving your employees independence and flexibility will improve loyalty and motivation and will help you build a team that’s committed to the success of the business.

    5. Support team member growth and development

    As a manager, your responsibility goes beyond day-to-day operations; you must also be invested in your team members’ growth and development. Identify their strengths, weaknesses and career aspirations to help them reach their full potential (see the connection with tip #2?). Encourage continuous learning and professional development by providing opportunities for training and skill-building.

    One of my favorite business quotes goes: “What if we train people to be so good they leave us for somewhere else?“

    To which the response is: “What if we don’t train them and they stay?“

    You can see the problem here. No business can achieve its full potential without training its staff to achieve their full potential. When you invest in your team’s growth, you’re building a loyal and dedicated workforce that will contribute significantly to the organization’s success.

    In a nutshell, adopt the mindset that it’s better to train people to be so good that they might leave for other opportunities, rather than neglecting their growth and having them stay in unfulfilling roles.

    Becoming a good manager requires more than just technical expertise; it demands a commitment to developing essential leadership skills. By embracing radical honesty, building trust through face-to-face interaction, encouraging open communication, granting autonomy and supporting team member growth, you can become an incredibly effective and influential leader. Remember, the success of any organization lies in the hands of its managers and the culture they cultivate within their teams. Lead with integrity, empathy and determination, and watch your team thrive.

    Related: The 10 Golden Rules of Effective Management

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    Jackson Cunningham

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  • 5 Steps for Consistent Lean Operations | Entrepreneur

    5 Steps for Consistent Lean Operations | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Lean principles have proved incredibly effective for future-proofing organizations from wasting resources. Though the philosophy originated in manufacturing, its adaptability has made it essential for any modern business leader looking to eliminate resource waste, improve quality, reduce variations in customer service and increase productivity.

    Lean management principles can be applied to many essential parts of a company, including production, supply chain management, customer service and administrative processes — all to meet customer expectations while improving productivity consistently.

    Over 70% of lean implementations fail — so what are the critical differentiating factors for those who can succeed? If executed correctly, lean management improves both customer service and employee satisfaction while reducing overall costs via productivity gain continually.

    It’s easy for leaders to talk about optimizing processes, but a successful lean systematic approach requires a deep understanding of key customers’ critical needs and a well-integrated yet simple execution plan. Most importantly, it requires an energized community of employees dedicated to continuous improvement with unwavering support from the CEO and the executive team.

    These five steps are paramount for business leaders hoping to implement lean principles to deliver consistent results meaningfully.

    Related: How to Apply Lean Principles to Your Startup’s Productivity and Time Management

    1. Understand your key customers

    At the end of the day, business is about people. With all the pressure to innovate in today’s world, it can be all too easy to lose sight of what a company’s true customers actually want and need. Lean principles are centered around the “North Star” of any business: the pain points and opportunities within a company’s target audience.

    To eliminate excess and non-value-added activities, one must first identify those that best serve the customer’s needs and listen directly to customers to understand better how these desires are (or are not) being met. This concept is at the heart of the Lean pull system and just-in-time manufacturing, which urge companies to carry out work only when there is a demand for it rather than creating products based on forecasts.

    2. Diversify perspectives

    Lean principles seek to overcome four core challenges: drag (the resistance from sluggish markets or enterprise-wide misalignment of strategies); inertia (resistance to change, including functional siloes); friction (products or services not in sync with customer expectations); and waste (resulting from outdated KPIs, failure to evolve and disengaged leadership).

    Bringing key customer needs into a company can help align company practices, culture and products/services to combat these challenges quickly and effectively. Fresh eyes, especially those with a cross-functional team approach, are crucial for mapping out and augmenting processes within the company that deliver the right products and solutions to customers and can directly combat the static mindset of companies that may otherwise be resistant to necessary change.

    Related: 5 Reasons Not to Follow the Lean Startup Process for Your Next Idea

    3. Establish metrics for progress and success

    Knowing how to measure both progress and success helps businesses implement the lean philosophy as a long-term company strategy rather than just a project. These metrics/KPIs may take various forms — including visual tools or techniques that make information and work progress more visible, as transparency helps cross-functional teams monitor and manage work more effectively and in real-time.

    Moreover, all ideals related to progress and success must be fortified by direct engagement and leadership from the C-suite. Leaders must live the mindset expected of their employees; this can be done through a regular cadence of meetings where this commitment to constant adaptation and sustainable growth can be demonstrated and nurtured. High-potential employees are thoughtfully placed in Lean assignments throughout the company. Likewise, training on continuous improvement must be made regularly for all managers and employees, with rewards and compensation tied to the delivery of lean results.

    4. Organize collaborative, cross-functional teams to streamline processes

    If done right, lean management allows companies to achieve more with less instead of doing more with less. Establishing a smoother, uninterrupted flow of work or materials via the value stream will minimize delays, waste and bottlenecks. To achieve this level of synchronization, siloes must be broken down to make way for a holistic evaluation of all internal operations.

    With engaged participation from various functions, the sequence of activities and processes required to deliver the right product or service to the customer can be assessed and solidified. This holistic perspective is crucial for optimizing value streams, sharing best practices, regular checks and adjustments and future-forward planning. Collaboration across functions also allows for a holistic understanding of company obstacles, methodologies and goals so that employees across the business are aligned on a united, go-forward strategy.

    Related: 5 Ways Lean Teams Can Work Smarter and Get More Done

    5. Foster a culture of continuous improvement and respect

    Continuous improvement is not a fad; it is an ongoing and integral element of operations, depending entirely on the business’s human element. While various technologies are helping to modernize, restructure and simplify processes, we must not take for granted the human touch that is embedded into the nature of all work. Lean principles emphasize respecting and valuing individual employee contributions and engagement and building a culture of continuous improvement through human interaction.

    By encouraging employees to be involved in decision-making, training and support, leaders lay the foundation for a community of people who are personally connected to the customers and their teams and are personally invested in the company’s future.

    Likewise, by fostering a culture of teamwork, empowerment and accountability, leaders can recognize and harness underutilized employee skills for greater success — all of which have been proven to improve retention rates.

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    Jack Truong

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  • How to Successfully Lead Your Team Through a Crisis | Entrepreneur

    How to Successfully Lead Your Team Through a Crisis | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In an unpredictable world, leaders often find themselves at the forefront of unforeseen challenges that demand swift decisions and decisive actions. Crisis leadership, the act of leading a group or organization through turbulent times, becomes an indispensable skill in such scenarios. The manner in which leaders react and guide their teams during a crisis can significantly impact the outcome and long-term health of an organization.

    In today’s business climate, crisis is unavoidable, and a leader’s ability to lead an organization through turbulent times often means the difference between success and failure.

    Related: 3 Keys to Leading a Business Through a Crisis

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    Stephen Nalley

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  • Free Webinar | October 26: How to Be a Visionary Leader for Yourself and Those Counting on You | Entrepreneur

    Free Webinar | October 26: How to Be a Visionary Leader for Yourself and Those Counting on You | Entrepreneur

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    Vision is the cornerstone of achievement, and visionary leaders possess the unique ability to see opportunities where others see obstacles. Learn how to unlock the secrets of becoming a visionary leader and start your journey toward unprecedented success!

    Join us on October 26th at 2:00 PM ET for an inspiring webinar led by Logan Stout, author, keynote speaker, and entrepreneur, whose companies have generated billions in revenue. Discover how you can become a visionary leader not only for yourself but for everyone counting on you.

    During this insightful webinar, you will learn:

    • How to establish a clear Vision that guides your path to success.
    • Strategies to take action on your Vision and turn dreams into reality.
    • Techniques to embody your Vision, making it an integral part of your leadership style.
    • Methods to effectively transfer your Vision to inspire and empower your team.
    • The self-discipline needed to stay committed to your Vision, no matter the obstacles.

    Don’t miss this opportunity to learn from Logan Stout’s wealth of experience and wisdom. Register now to secure your spot for this transformative webinar on visionary leadership! Whether you’re an aspiring leader or an established one, this event will equip you with the skills and mindset needed to make your Vision a reality.

    Register now and set yourself on the path to becoming a visionary leader.

    About the Speaker:

    Logan Stout is an accomplished business owner having generated billions of dollars of revenue throughout his career. He is a philanthropist, entrepreneur, best-selling author, keynote speaker and leadership trainer who has made regular appearances on all forms of major media outlets: TV, Magazines, Radio, Podcasts and more.

    He has been endorsed by Hall of Fame athletes including Troy Aikman and Pudge Rodriguez, renowned entrepreneurs Barbara Corcoran and Daymond John from ABC’s Shark Tank, Success Magazine’s Darren Hardy, Zig Ziglar’s son and CEO of Ziglar, Inc. Tom Ziglar and many more spanning a wide range of professions.

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    Entrepreneur Staff

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  • The 5 Key Qualities of a Good Leader | Entrepreneur

    The 5 Key Qualities of a Good Leader | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s fiercely competitive business landscape, the demand for exceptional teams capable of innovative thinking and delivering stellar outcomes has never been greater. Consequently, the creation of high-performance teams has become a paramount objective for numerous top-tier companies.

    A cornerstone of high-performance teams lies in effective leadership. Virtually no empowered team attains greatness without a strong leader at its helm. Leaders are the driving force that steers and inspires individuals toward a shared objective, ensuring seamless alignment and collaborative harmony among team members.

    Throughout my career, I have had the opportunity to interact with powerful leaders of highly empowered teams. Over time, I have noticed several attributes that each of these effective leaders possess. In this article, we will explore five of the most important leadership attributes: Confidence, integrity, sacrifice, tenacity and enthusiasm.

    Related: 10 Simple Steps to Build an Exceptional and Efficient Team

    1. Confidence

    Being a high-performance leader entails having unwavering confidence in both yourself and your team.

    Fostering confidence in your team necessitates letting go of micromanagement. It’s essential to convey your support and trust to your team members. While addressing any shortcomings with constructive feedback is crucial, it’s equally important to demonstrate your belief in their capacity to improve.

    Ironically, your personal confidence can receive a significant boost by acknowledging your own weaknesses. By recognizing areas where you may fall short, you open the door to delegating related tasks to your team. This empowerment allows your team members to excel in areas where your strengths may not lie. Consequently, you can focus on tasks where you excel, leading to a self-assured boost in your own confidence.

    Related: 10 Ways to Build Your Entrepreneurial Confidence

    2. Integrity

    Trust stands as an essential prerequisite in the realm of team leadership. Devoid of trust, a team cannot truly exist.

    This fundamental truth resonates strongly with accomplished military leaders who understand that obedience to orders becomes uncertain without their soldiers’ trust and respect. Such circumstances can have profound consequences, potentially affecting lives in the process.

    To showcase your personal integrity to your team, prioritize honesty and fairness in all your actions. Consistently apply your principles when addressing various situations, and maintain open and transparent communication with all team members. Uphold your commitments and promises, even when you believe they might challenge your reputation. Such actions will foster a deeper trust and reliance within your team.

    Related: The Importance Of Honesty And Integrity In Business

    3. Sacrifice

    Evolving into a high-performance leader should never revolve around seeking accolades or personal glory. True leadership entails making sacrifices and consistently prioritizing the needs of others above your own.

    I’ve come to realize that achieving greatness often demands sacrifice. In my journey, both my family and my business have required significant investments of time, effort, money and even sleep. Every ounce of energy I’ve dedicated to these priorities has proven to be worthwhile. While the path to creating what matters most to me has been marked by hard work, I can honestly say that I’ve never regretted a single moment of it.

    Finally, a great leader understands that their success is intricately tied to the well-being and growth of their team. By consistently putting the needs of others at the forefront, a leader not only fosters a harmonious and motivated team but also paves the way for their own growth and fulfillment in the process. After all, leadership, at its core, is a journey of service and dedication to a higher purpose beyond personal glory.

    4. Tenacity

    If you lack tenacity, venturing into leadership might not be your right path. The leadership journey is not always a walk in the park; it can often feel like an arduous uphill battle. Life throws challenges, uncertainties and obstacles your way, and as a leader, you must navigate through them with determination and unwavering resolve.

    Having tenacity, often called “grit,” is akin to having the sturdy foundation upon which your leadership journey is built. It’s the inner strength that propels you forward when faced with adversity. Without it, it’s easy to become disheartened or give up when the going gets tough.

    Leadership demands more than just vision and charisma; it requires the resilience to withstand setbacks and the determination to persevere in the face of adversity. Tenacity becomes your compass, guiding you through the stormy seas of leadership, ensuring you survive and thrive in the most challenging circumstances. So, if you aspire to lead, nurture and harness your tenacity, it will be your steadfast companion on your leadership journey.

    Related: Why Tenacity Is One of the Most Critical but Overlooked Entrepreneurial Skills

    5. Enthusiasm

    Enthusiasm is the lifeblood of sustained excellence in any field. Enthusiasm is also the spark that ignites your passion and drives you to push boundaries, persevere through challenges and maintain an unwavering focus on your goals. Without genuine enthusiasm for your work, the risk of boredom and burnout looms large on the horizon.

    In the realm of leadership, enthusiasm is contagious. When a leader exudes genuine enthusiasm for their vision and mission, it has a ripple effect throughout the team. It boosts team morale and inspires individuals to go the extra mile, fostering a culture of high performance and achievement.

    Enthusiasm is not a fleeting emotion but a reservoir of energy and drive that propels individuals toward greatness. It sustains tenacity and makes the sacrifices worthwhile, as the passion for the journey and the desire to excel remain undiminished. In essence, enthusiasm drives high-performance leaders, propelling them to achieve extraordinary feats and leave a lasting legacy.

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    Don Weber

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  • How to Navigate Ethical Considerations In Your Decision-Making | Entrepreneur

    How to Navigate Ethical Considerations In Your Decision-Making | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Business owners and managers often face difficult decisions that involve weighing ethical and unethical options. However, making choices that consider ethics can have significant long-term benefits for a company.

    When employees feel their company prioritizes ethics, it fosters trust and loyalty. They’ll be more motivated to give their best work. Customers also care deeply about supporting businesses with strong values. An ethical reputation builds goodwill that leads to repeat customers and word-of-mouth marketing.

    Moreover, in today’s transparent world, unethical actions usually don’t stay hidden for long. A single lapse in judgment can go viral on social media and seriously damage a brand. Several large companies have suffered enormous financial losses due to ethics scandals. Clearly, incorporating ethics into decision-making is simply a good business strategy.

    Still, ethics are not always black and white. Managers must thoughtfully weigh various factors like short-term profits versus long-term impacts. Here are some practical considerations to guide them.

    Related: More Than Just A Moral Compass: The Power Of Ethical Business Practices

    It’s not just about the bottom line

    Many business owners fall into the trap of focusing exclusively on financial outcomes when making choices for their companies. While profits are important, they should not be the sole criteria against which options are judged. Remember that your business does not operate in a vacuum — it has an impact on employees, customers, suppliers and the wider community. Ignoring ethics can seriously damage relationships and goodwill over time.

    For example, cutting corners on product safety or quality to reduce costs may lead to higher profit margins in the short term. However, it also risks harming customers, resulting in negative publicity, and losing the trust that has been built up. In contrast, prioritizing ethical practices shows stakeholders that you value more than money and helps ensure the sustainability of the business.

    Related: Are You an Ethical Entrepreneur? Here’s How Business Leaders Can Embrace Social and Environmental Responsibilities

    Think through unintended consequences

    Most organizational decisions are complicated, with outcomes that are difficult to predict with certainty. Hasty or self-interested choices often fail to consider all angles. It is wise to carefully weigh both intended and potential unintended consequences before acting on an idea.

    Imagine, for instance, a clothing company that decides to significantly lower the wages of its factory workers abroad to reduce production expenses. While this may boost profits in the accounting ledgers, have leaders fully contemplated how it impacts livelihoods and morale? Have they accounted for the possibility of quality or retention issues down the line from unhappy employees? Stepping into others’ shoes and viewing decisions from their perspective can surface important uncertainties or ethical issues to address.

    Staying consistent with core values

    Establishing a strong set of values and operating principles for a business is crucial. These provide an agreed framework and shared understanding for navigating complex choices. However, values only matter if teams consistently work to uphold them in both good times and bad.

    When under pressure to cut costs or hit unrealistic targets, it is all too easy to compromise on ethics “just this once” and rationalize it away later. Over time, these mini-exceptions can erode the integrity of an organization. By openly discussing values as part of decision-making, leaders can ensure options align with what the company stands for – not just what seems expedient right now but damages credibility in the long run.

    Related: Stand for Something: How to Establish Authentic Core Values

    The power of stakeholder feedback

    No business exists in isolation from those it interacts with. Customers, employees, and community members all have useful perspectives informed by their experiences. Making time for open communication and stakeholder feedback can be eye-opening, revealing both future opportunities and potential pitfalls that leaders may have overlooked.

    For instance, regularly surveying frontline workers gives insight into day-to-day operational realities and early warning of any brewing issues. While undesirable information requires courage to hear, ignoring problems often makes them worse. Building a two-way dialogue shows respect for others and improves the quality of choices by grounding them in reality.

    Related: What Does It Mean to Be An ‘Authentic Leader,’ Anyway? Here’s What You Need to Know.

    Consider all parties affected

    Many ethical lapses occur due to a narrow focus. It’s important to map how decisions reverberate throughout extended networks. For example, while optimizing one department may slightly benefit shareholders, what consequences ripple to suppliers, the environment or society? Taking a systems view ensures no one is left shouldering undue risks or costs.

    Review with hindsight

    Revisiting earlier choices allows for spotting patterns and blind spots. What could have been done differently with the benefit of hindsight? Lessons learned should inform future policy settings and discussions. It also reinforces wisdom gained over time. Through experience, judgment improves at building ethics seamlessly into a business’ strategic priorities and daily operations.

    Weighing ethical considerations cannot be set aside or delayed when times get challenging. On the contrary, it becomes even more crucial. Leaders who thoughtfully consider the impacts on all stakeholders, stay consistent with core values, and invite diverse input tend to build businesses that endure because they have wisely constructed strong foundations of integrity and trust.

    In the end, the most successful organizations are usually those deliberately guided not only by profits but also by principles.

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    Murali Nethi

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  • 15 Strategies to Help Leaders Overcome Resistance to Change | Entrepreneur

    15 Strategies to Help Leaders Overcome Resistance to Change | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In the ever-evolving landscape of the business world, change is an immutable force, one that is indispensable for fostering growth and adaptation. However, the inevitability of change doesn’t negate the fact that even the most well-conceived and well-intentioned transformations often encounter formidable resistance from employees and stakeholders alike. As a change leader, your proficiency in skillfully navigating and surmounting this resistance is not just a valuable asset but an absolute necessity for the triumph of any transformational endeavor.

    This article delves into the intricate dynamics of resistance to change, dissecting the underlying factors that fuel this resistance, and it serves as a compass to guide change leaders toward effective strategies to quell such opposition. From understanding the psychology of fear of the unknown to addressing concerns of job security, we will equip you with actionable insights and proven tactics to foster not just compliance but genuine enthusiasm among your team and stakeholders during times of change.

    Related: The 5 Most Important Aspects of Leading Others in Times of Change

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    Taiwo Sotikare

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  • Why Unaddressed Grief is Hurting Your Company’s Bottom Line | Entrepreneur

    Why Unaddressed Grief is Hurting Your Company’s Bottom Line | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    It’s no mystery that continued major waves of layoffs in the tech industry are causing suffering for those who are being laid off. But a major elephant in the room is overlooked among remaining employees: grief. Ignoring the grief that the remaining workers are experiencing threatens to impact the remaining workers’ well-being and companies’ bottom lines negatively.

    More than 234,000 tech workers have been laid off this year. Major companies like Amazon, Spotify and Meta have cut tens of thousands of workers’ jobs this year, including Google’s recent round of layoffs this September. Obvious to most business analysts is that these large-scale layoffs create instability and inefficiencies within teams. What is less obvious, however, is that many remaining employees are dealing with grief around the loss of coworkers, work rhythms and stability amidst continued layoffs.

    Research demonstrates and experts have long warned that layoffs cause detrimental effects on both individual employee performance and corporate performance. Additionally, major layoffs can cause issues for companies in future employability because future candidates remember how companies handled economic uncertainty through massive layoffs.

    What is notably missing from the conversation around the current tech layoffs, however, is that many major companies are now facing a grief problem amidst their remaining workers. Failing to address this issue may make workers suffer and cost companies a lot of money through the loss of worker productivity, efficiency, and satisfaction.

    Related: What the Future Looks Like for Fresh Graduates in the Tech Industry

    The remaining employees at these companies are currently experiencing two major types of grief. The first is the actual grief of losing colleagues, work friends, team structure and dynamics, and often work schedule and range of responsibilities. Unfortunately, most companies and managers fail to acknowledge the psychological stress and grief their remaining employees might be experiencing after losing valuable team members.

    The second form of grief is anticipatory grief, which refers to grief around the potential of losing someone or something. Most remaining employees remain under constant stress of worrying about losing their jobs, another member of their team, and stability within their role.

    Because most of these layoffs are happening remotely, there is often an added layer of loneliness and isolation experienced by remaining employees. Remaining employees often lose meaningful social connections by being suddenly unable to reach their coworkers, many of whom they only had means of connecting via workplace channels. All this is happening against the backdrop of a loneliness epidemic in the U.S., as declared by the U.S. Surgeon General.

    Related: How to Combat the Growing Epidemic of Loneliness in the Workplace

    Following layoffs, remaining workers suffer. Prior research indicates that after a layoff, 74% of remaining employees report a decline in their productivity, 69% report the quality of their company’s product or service declines, 87% report being less likely to recommend their organization as a good organization to work for and 77% report making more errors and mistakes.

    Moreover, the most commonly reported feelings after a layoff are anger, anxiety and guilt. These are all common symptoms of grief. The post-layoff period is a fragile time within a company, one in which employers should provide adequate support and communication with their remaining workforce.

    Whether employees are experiencing grief, anticipatory grief or both, the best way for companies to support their workforce is to address the grief head-on through open, candid conversations. Grief research shows that avoiding conversations around loss only delays the healing process and worsens things.

    The translation for companies is that their employees will remain bitter, stressed and potentially angry about the situation if they do not feel seen or heard or their feelings remain unacknowledged. This, in turn, can reduce worker productivity and prevent new teams from forming positive and supportive team environments. Team dynamics are one of the biggest and best predictors of workplace efficiency, so ignoring this problem will be costly in the end, both in terms of well-being and productivity.

    Companies hold a lot of power to course correct during this unstable time. Prior research indicates that following layoffs, workers who feel their managers are visible, approachable and open are 70% less likely to report drops in productivity and 65% less likely to report a decline in their organization’s quality of work or service.

    Managers must communicate with team members through one-on-one conversations, allowing their direct reports to process their feelings. This open, candid and empathic communication can create space for a new and positive team dynamic to emerge.

    The best places for companies and managers to start are with key communication tactics that work in supporting those who are grieving and promoting resilience and growth:

    1. Acknowledge how remaining employees might be feeling
    2. Normalize experiencing feelings of guilt, anger, sadness, uncertainty, denial or regret following a major layoff
    3. Be candid about reasons for downsizing and layoffs
    4. Focus on the future and how employees can move forward with the company’s new vision
    5. Connect employees with their new teams in meaningful ways to create social cohesion

    Throughout the entire trajectory of layoffs, from announcing that they are coming to laying off individuals, companies should be mindful to keep their communications candid, consistent and transparent. Resources should be devoted to training managers and team leads in empathic communication. Designated spaces and meetings should be created for discussing the topic of layoffs. Employees should be given ample opportunities to ask questions.

    Avoidance is the enemy of good communication, whereas transparent, empathic, and person-centered communication can go a long way in creating trust, stability, and vision in an organization’s very unstable time of grief. This will, in turn, improve the company’s bottom line as well.

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    Megan Shen

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  • This Leadership Style Is Redefining Success in the Business World | Entrepreneur

    This Leadership Style Is Redefining Success in the Business World | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s business landscape, a distinct type of CEO stands out. These are not the conventional leaders solely driven by profits or quarterly results; they are transcendent leaders.

    A transcendent CEO embodies a visionary mindset that goes beyond the confines of conventional leadership. While many leaders might tunnel-vision on short-term profit margins or the next quarterly report, a transcendent CEO adopts a panoramic view of the business landscape. Their vision is not limited to mere fiscal performance; they aim to foster an environment where every stakeholder finds their place in the bigger picture.

    Related: How to Improve as a Leader by Optimizing Your Management Style

    Qualities of a transcendent leader

    For a transcendent CEO, business success is a multi-faceted gem that radiates with the collective fulfillment of everyone linked to the organization. They believe that an organization’s true value is realized when its employees find not just jobs, but purpose and passion in their roles. It’s reflected in suppliers and partners who feel genuinely valued and engaged, not just as transactional entities, but as pivotal cogs in a larger mission.

    Furthermore, their vision extends to the broader community. They understand that businesses don’t operate in isolation; they’re part of a community, a society and an ecosystem. As such, a transcendent CEO seeks to ensure that the organization’s impact is positive, sustainable and enriching, not just within its walls, but beyond. This ripple effect, where value and purpose permeate every layer of interaction and engagement, is the hallmark of transcendent leadership. It’s a leadership style that doesn’t just aim for success but seeks to redefine what success truly means in the modern business world.

    These leaders operate with a commitment to ideals that go beyond the bottom line. They use their influence to promote values such as unity, freedom, truth and love. This approach doesn’t disregard profits but prioritizes a balance between financial growth and ethical principles.

    Drawing an analogy, transcendent leaders are akin to modern-day alchemists. While they don’t literally turn metal into gold, they do strive to evolve rigid, outdated business models into more flexible and inclusive ones. This “Omni-win” approach ensures that success benefits the individual, society and the environment.

    Central to this leadership style is empowerment. Every team member, regardless of their position, is valued as an essential contributor with unique potential. This leadership model doesn’t strictly follow a top-down or bottom-up approach; instead, it incorporates the strengths of both. This balanced approach recognizes the mutual growth of individuals and the organization.

    But this leadership isn’t just about external tactics. At its core, it emphasizes personal growth and inner alignment. For a transcendent leader, internal spiritual and psychological alignment is crucial. They understand that true leadership starts from within.

    Related: Empowering Your Team Should Be a Top Priority. Here’s How to Start.

    Transcendent leadership vs. traditional leadership models

    Historically, the model of leadership in the corporate world mirrored that of ancient hierarchies: a structure similar to the pyramids, where a select few at the top wielded immense power, while the majority at the base supported these upper echelons. This authoritarian model, while stable and structured, was often imbalanced, relying heavily on a top-down approach. It primarily favored those in command, often sidelining the potential of those below.

    Such a leadership model, while credited with several milestones in business advancement, has inherent flaws. Centralized power often breeds a sense of complacency and entitlement in leaders, while the potential of countless employees is left untapped. In a world rapidly evolving, this is no longer sustainable. A vast reserve of innovation, creativity and productivity remains dormant when leadership fails to recognize and harness the brilliance that every individual brings to the table.

    In contrast, the servant-leader model attempted to subvert this hierarchy, placing the CEO at the foundational level, directly in service to customers and employees. While this approach brought a wave of fresh perspectives, promoting empathy and service, it also had its limitations. It sometimes led to leaders becoming too accommodating, often at the cost of decisive action and strategic foresight.

    The true evolution in leadership bridges the strengths of both these models. Enter the transcendent leadership approach. It understands that every individual, irrespective of their position, has something unique to offer — a specific talent, a distinct perspective or a groundbreaking idea. It acknowledges that leadership isn’t about dominance but about fostering an environment where each individual feels empowered to bring their full selves to work.

    Related: 7 Timeless Principles That Will Help You Become a Better Leader

    Transcendent leadership is more than a strategy; it’s a mindset shift. It requires leaders to introspect deeply, to align their inner psychological and spiritual values with their outward actions. In a world full of distractions and pressures, this might seem like a daunting task. However, the benefits of such alignment are unparalleled. Leaders who can harness this balance are not just efficient; they are holistically effective. They lead businesses that aren’t just profitable but are purpose-driven, communities that are not just engaged but empowered, and teams that are not just productive but passionately innovative.

    Reaching this state of transcendent leadership isn’t an overnight transformation. It requires continuous learning, self-awareness, and most importantly, a genuine commitment to seeing and treating every team member as a potential leader. The outcomes of this approach, though, are profound. Organizations that embrace this model don’t just thrive; they redefine success in terms that are both quantitatively impressive and qualitatively enriching. In essence, the evolution of leadership is the journey from power for a few to empowerment for all.

    Transcendent leadership offers a fresh perspective in the business world. It suggests a model where organizations don’t just thrive financially but also contribute positively to the broader ecosystem.

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    Satyen Raja

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  • 4 Ways to Avoid Becoming A Nightmare Boss | Entrepreneur

    4 Ways to Avoid Becoming A Nightmare Boss | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    We’ve all had that boss, the one who makes work life so much harder than it needs to be. We all swear we’d never do the same if we were in charge, right? Then, one day, you become the boss — and gasp: you’ve become the nightmare! Or is that just me? Honestly, I think my first step in becoming a better boss was being that nightmare at one point. I saw firsthand the dysfunction it caused, and here’s what I learned.

    No-no’s from a reformed nightmare boss

    Looking back, I can see that I never really set my employees up for success. During my stint as a nightmare boss, I had an amazing team; I just wasn’t an amazing leader. I wanted them to produce perfection (or what I considered perfection) without guiding them in how to do so. I struggled with articulating my vision for their roles and setting expectations. Instead, I would cherry-pick anyone willing to work and just hope they would learn well through trial and error. I have since realized this is a horrible way to onboard anyone. To avoid my mistakes, consider the following.

    1. Don’t try to mold someone to fit a job post

    Just because you like someone or need a new team member immediately doesn’t mean they are right for the job. I own a PR agency, and in this creative industry, some things simply can’t be learned. You either have the talent — as a copywriter, a designer or a media relations guru, for example — or you don’t.

    That’s not to say skills can’t be honed, but it’s essential to learn what people’s strengths are instead of what you’d like them to be. And who knows? Even if they aren’t a fit for that particular job, they may be perfect for another role on your team.

    On the flip side, when you find someone with the right passion and talent, you still have to manage them effectively. I once had an incredible brand director who was so creative and proposed making videos to convey PR lessons.

    This was long before Reels and TikTok, so it was a fantastic, novel idea, and I was all in on proceeding full steam ahead. However, because I didn’t hold her accountable for producing the end result, no videos were ever made! Not one.

    Related: 6 Tips for Hiring the Right People

    2. Don’t fire fast and regret it later

    When people make mistakes — and they will — take it as a teachable moment instead of a reason to cut them loose. This one was big for me. I was hiring fast and firing even faster. That’s no way to run a stable and successful business. Though I wanted people to succeed on their own, I now know that is not how things work.

    People need direction, input and support. When they mess up, that’s the time to teach and redirect so they can improve for the next time. I look back on the talent that was a part of my team, and I regret some of the fast decisions I made, letting them go before trying to show them how to make things work. I have since come a long way in this regard.

    What’s more, following this approach, I can appreciate that sometimes it’s just not a fit, even when you have taken the time to teach. That’s still okay, too, and in making that effort, I can be confident in my decision.

    Related: How to Fire an Employee

    3. Don’t separate yourself

    You and your employees are on the same team, and while there needs to be respect and clear roles, creating a you-versus-them mentality will not be effective. You must be approachable, willing to do the work and ready to share the successes.

    My PR agency is much stronger with a team that feels comfortable sharing ideas, no matter how off-the-wall, and letting me know when something isn’t working or when they have a better solution.

    For example, I’ve been trying to set and streamline operational standards for more efficiency, but having more of a content-oriented brain, organization and I are not the best of friends. This is not true of others on my team who are strong in that area and in the new project management tools we’re implementing.

    So, while I’m leading the charge, others are attending to process details. Not only will this produce better results, but my staff will also take more ownership in use of the software. Win-win!

    Related: 7 Proven Tips for Building Trust and Strengthening Workplace Relationships

    4. Don’t forget that you’re human too

    Both nightmare bosses and dream bosses are human. The difference is that only one of them is likely to admit it. When you misstep, acknowledge it and, if warranted, apologize for it. Showing you’re human doesn’t make you a weak boss; it makes you a more skilled leader and will further cultivate connection among your team than acting infallible ever will.

    Along these same lines is making the effort to do better. Remember when I mentioned teachable moments above? That applies to the boss, too. Things move fast in my industry and probably in yours — when growing a business, we always want to say yes to the client.

    But we need to learn to say “no” when doing so protects our team. Sure, there are times when an immediate turnaround is necessary, or we want to overdeliver to grow the relationship, but setting boundaries with clients and keeping expectations for staff realistic will go a long way toward bridging the gap between a not-so-great boss and a great one.

    Related: Why Vulnerability Is a Strong Business Leader’s Most Powerful Weapon

    The path to dream boss status

    Would I say I’ve achieved dream boss status? You’d have to ask my team to know for sure, but I’m trying my darndest to be, and that’s half the battle! With a bit of intentionality and by avoiding these mistakes, you can channel your inner dream boss too.

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    Emily Reynolds Bergh

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  • Staying Within Your Comfort Zone Can Kill Your Business — Here’s Why. | Entrepreneur

    Staying Within Your Comfort Zone Can Kill Your Business — Here’s Why. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Every founder must step outside their comfort zone to be successful. I’ve never met a founder for whom that isn’t true — but it’s hard. We all have insecurities, bringing a certain level of imposter syndrome to the table. Those deeply personal struggles can cause us to gravitate to what we’re good at, what we know, and what feels safe — even when it’s not what our businesses need at that time.

    So, how can leaders get out of that box? It’s not about gaining competency, although that is an undeniably important step. It’s about understanding where, how, and why they’re avoiding what’s uncomfortable. Self-discovery is the beginning of the journey to success.

    Getting there is almost never easy. But with better self-awareness can come deliberate habit-breaking, which helps your business strategy and your effectiveness as a leader.

    Related: Why Self-Reflection and Self-Awareness Are Vital Skills for Any Entrepreneur

    Your first instinct is often wrong

    In times of crisis, we revert to what we’re great at. The founder who’s great at fundraising says, “I’m going to raise more money.” The founder who’s great at engineering says, “I’m going to release a new feature.” But often, collapsing into default isn’t helpful. The odds of your superpower being the optimal next step at any given time are low.

    I know a founder who’s unbelievably good at sales. His default is to go out and sell because more sales means increased revenue. But as issues at his company arose, more revenue wasn’t the answer — the product just wasn’t good enough.

    He had to analyze data on what was actually happening and consider the relationship that existed after the sale was made. He realized the best thing for his business was to temporarily stop selling. That was uncomfortable for him because it halted momentum, forcing him to learn new skills. But it allowed the team to fix the underlying problems, which put them on track to build a sustainable business.

    All founders must look at their business and themselves objectively. Even though founders have to be good at many different things, nobody is good at everything. In the same way that leaders plan company strategy, they need to plan personal strategy. If leaders aren’t methodical, they end up doing only what they’re good at, plus random tasks that come across their desks each day.

    Founders have to manage the business they have, not the business they want. You’ll inevitably have objectives that aren’t in your wheelhouse, but you must face those tasks to succeed. Part of good management requires leaders to acknowledge their management style — and understand where and when that needs to evolve. I tend to be a raw, demonstrative, talkative person. Sometimes, that works. But there are times when I need to find a style that doesn’t feel as natural but is necessary to build the partnership.

    Related: How to be an Adaptable Leader and Use Change to Your Advantage

    Creating an environment that encourages change

    If founders want to push their teams to get outside of their comfort zones, they must lead by example. It’s about encouraging people to be deliberate. What do they need to do today? What resources are necessary for those things to happen? An eat-the-frog mentality is helpful here: If people spend the first 30 minutes of their day doing what makes them uncomfortable, they get a positive feedback loop from knowing they accomplished the worst of it and can spend the rest of their day on tasks they enjoy.

    Getting 360-degree feedback matters, too. People will tell leaders if they’re stuck. They can help founders get to the root of why they’re uncomfortable with specific tasks. Open communication will improve leadership accountability so founders don’t slip back into old habits. But leaders have to give their team space to be open. Otherwise, people won’t feel like they can bring anything new to the conversation.

    Related: 3 Reasons You Should Have Difficult Conversations Now

    A System of Personal Growth

    Most founders set aside time to conduct performance reviews. But they typically don’t set aside time to evaluate themselves as humans on the job. Founders need to intentionally allocate time to evaluate what the business needs their ever-changing job to be.

    Founders need to authentically look at their performance to find what they’re avoiding and how to start facing it. Start by asking your direct reports and board members: “What do you think makes me uncomfortable? What are three things I’m avoiding?” It is a tough conversation because the answer is deeply personal and often isn’t a work issue but one that will help you in business and life.

    Leaders can ask themselves questions to evaluate themselves during the time they’ve set aside:

    • Did I do my best to set and make progress toward clear goals?
    • Is what I’m supposed to be doing matching what I’m really doing?
    • What am I doing more of than I should?
    • Did I do my best to find meaning?
    • Did I do my best to cultivate relationships?

    Clear goals shape the questions leaders will ask themselves. They also keep leaders from drifting. More than aptitude, the ability to not drift is a primary difference between high-performers and those who merely do okay.

    Lastly, although everyone can have a stellar day, no one will be able to put 100% of themselves into everything. That’s why leaders should frame their questions like “Did I do my best.” It’s impossible to be perfect, so the goal should be to do the best they can with what they’ve got. Work on improving, but be gentle with yourself. Founder life is hard enough.

    Embracing discomfort is a challenge, but the rewards are excellent

    Founders usually feel uneasy when they step outside of their comfort zone. But failing to face what they’re avoiding can restrict the feedback they need and give them a false sense of what’s going on. That false sense can have a massive negative impact on virtually everything, including employees and vendors.

    We need discomfort to grow as entrepreneurs. So, if founders find themselves feeling uneasy but don’t run, it’s a good sign they have what it takes to excel. With consistent self-awareness and bravery, they’ll lead themselves and their teams to an inevitable win.

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    Jonah Midanik

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  • How to Build a Company That Excels at Both Leading and Coaching | Entrepreneur

    How to Build a Company That Excels at Both Leading and Coaching | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Companies, in an effort to be more efficient, are thinking twice about how many middle managers they need. And that makes it more important than ever to move from managing people to leading and coaching so they can do their jobs without the kind of oversight we thought they needed in the past.

    Getting it right starts with understanding the difference between managing and coaching.

    What happens if a professional football coach puts a player into a game who is underweight, inexperienced and doesn’t know the playbook?

    Let’s think about what might happen. The player could get hurt or get others hurt. Teammates will be scrambling to make up for his lack of experience and incompetence. The team will be mad at the coach. Lots of not-good things will happen. So, coaches try to avoid this.

    Related: Coaching Over Managing: Motivate Your Team

    The difference between coaches and managers is that coaches know they have to put the right people on the field. Most managers don’t worry about that because, deep down, they think they could play the position. That’s called micromanaging, and almost no one likes to be micromanaged (besides, do you really want to lead those who do?).

    That’s why the age of managing is over. I believe we are moving into an age of leading and coaching.

    Companies have come to realize they don’t need layers of managers, and employees are increasingly — and appropriately — asking for explicit levels of autonomy and authority. A business runs best when team leaders talk with their staff about what’s expected, turn those expectations into agreements or commitments (when agreements aren’t possible), and then get out of the way. And the key to doing that successfully, without losing some measure of supervision, is taking accountability for leading and coaching.

    Leading is straightforward, and it involves: having a compelling vision; being clear about who is responsible for what; giving people the resources they need to do their work; staying connected; making sure there are agreements (or commitments, if you can’t agree) — and that agreements/commitments are lived up to; ensuring everyone is walking the talk.

    If you think it’s all about leading, you’re flat wrong. Leaders are playing their own version of Don Quixote if they’re unable to provide coaching. Coaches help their teams get whatever they need — resources, training, systems, etc. — to honor their agreements or commitments.

    If you think that’s a lot, well, maybe it’s time to get out of the leadership and coaching game.

    There are four basic steps to building a company that is really good at leading and coaching:

    Related: 3 Effective Ways to Lead as a Coach Rather Than a Boss

    Hire the right people

    Effective coaching starts with hiring the right people and giving them the tools they need to succeed. Half of new hires are unsuccessful. That’s a dismal rate for hiring “managers” (I don’t like the word “managers”). A football coach would be gone with a statistic like that.

    A team leader who hires the wrong person often ends up micromanaging them instead of working to “hire right” in the first place. So, interviewing skills are key. Interviewers should be clear about not only the position’s roles and responsibilities but also key performance indicators (KPIs) and targets that foster clear understanding of what it means to do the job well.

    New hires need to understand the organization so they can get themselves up and running within 90 days without close supervision. That means being very intentional during the onboarding process and then, assuming they meet key requirements, staying out of their way and letting them bring their unique attributes to the organization. Everyone is different, with a collection of aptitudes, skills, experiences and motivations.

    Employees need to understand who is responsible for what — they require access to a platform that makes it easy to familiarize themselves with the organization’s chart of accountabilities — as well as business processes and company culture. They need to have a sense of the company’s ideal client and unique value proposition. After all, they’re part of an ecosystem — a complex adaptive system — that is explicit, coherent and resonates with all of what we call their ideal stakeholders (not all stakeholders are ideal, so please don’t worry about the ones who frankly don’t matter).

    Hold effective meetings

    At Ninety, our team leaders meet one-on-one twice a week with every new team member during the 90-day onboarding period and once a week afterward. There’s a set agenda that includes reconnecting as humans, reviewing KPIs and 90-day goals to make sure everything is working well and is on track, and bringing up and solving any issues.

    By onboarding team members properly, including ensuring they have an understanding of what defines the company (the why, who, what, when, where and how), meeting with them weekly, and agreeing on clear goals and metrics — especially those that help us agree on when things are wonky — both sides are set up for success. Employees won’t need micromanaging, giving you ample time to lead and coach your entire team.

    In short, the way a company views meetings is a clear and unambiguous sign of how well it’s run. A great company schedules almost all meetings. Ad hoc meetings are for urgent, unplanned business, and a well-run company shouldn’t have to scramble to react to events.

    Provide continuous feedback

    Well-run companies have ditched the annual review (don’t get me started on this topic). Everyone should meet quarterly with their team leader and have a simple, structured conversation about how they are doing as a leader/coach and as a team member.

    Consider conducting “stay interviews.” Many companies have exit interviews. But asking employees who don’t plan to leave what they love about the company and listening to their constructive feedback can be an incredibly positive experience.

    Related: 10 Rules for Coaching Your Team to Greatness

    Have the right compensation structure

    Using the right incentive plan for your company’s mix of employees is key. Companies have different cultures. Some, particularly in fields such as investment banking and private equity, have more of a warrior mentality. So, in addition to hiring people with related skills, a company would want an incentive plan that’s warrior-based — people who are paid to close deals or complete other high-consequence tasks. Another company might take a more team-based approach, and that company should have team- or company-based incentives.

    What you don’t want is a warrior-based culture with a team-based incentive plan or vice versa. That won’t make anyone happy because your words and incentives are incongruent.

    It is possible to create a place where people love going to work. To get there from where you are now, you’ll find it’s super-helpful to provide autonomy where it’s earned and appreciated, and form a culture that is explicit, coherent and resonates for all ideal stakeholders.

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    Mark Abbott

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  • An ‘Embarrassing’ Moment Changed How Peyton Manning Leads | Entrepreneur

    An ‘Embarrassing’ Moment Changed How Peyton Manning Leads | Entrepreneur

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    Two-time Super Bowl Champion, five-time NFL MVP and Pro Football Hall of Fame member Peyton Manning knows what it takes to lead a team to success. Over the course of his career as starting quarterback for the Indianapolis Colts, then the Denver Broncos, the superstar athlete became as well known for his leadership skills as his football prowess.

    But, just like everyone else, Manning had to learn how to lead his team the right way.

    The day before the start of the 2023 NFL season, the former quarterback sat down with General Electric chairman and CEO Larry Culp at GE’s “Lean Mindset” event in Chelsea, New York, where a range of industry leaders — from professional athletes like Manning and Giannis Antetokounmpo to Stanford psychologist Carol Dweck, celebrity chef Wolfgang Puck and more — unpacked how to build team cultures fostering innovation, efficiency and constant improvement.

    Related: 7 Lessons Entrepreneurs Can Learn from Peyton Manning

    During his conversation with Culp, Manning recalled a moment from his college football days that changed his approach to leadership for good.

    Growing up, Manning’s father, Archie Manning, a quarterback who’d played in the NFL for 13 seasons, always told his son that the position came with the responsibility to step up and lead his team.

    When Manning was an 18-year-old freshman at the University of Tennessee, that’s exactly what he did. It was his first game; the team was losing, and Manning, initially benched, was put into play. In the huddle that followed — with some much older teammates — the young quarterback heeded his father’s advice and gave a pep talk in an attempt to inspire confidence.

    One of Manning’s teammates was far from impressed. Manning said the 6’5″, 330-pound left tackle said, “Hey freshman, shut the ‘blank’ up and call the ‘blanking’ play.”

    According to Manning, the “embarrassing” incident taught him a valuable lesson in leadership. “These new co-workers — these teammates — didn’t want to hear what I had to say until I earned their respect,” Manning said.

    So Manning pivoted to what he dubs “silent leadership,” demonstrating through his actions — showing up for his team, staying humble and constantly striving to improve — that he could be an effective leader.

    And the quarterback’s strategy worked — first on his college team, then during his NFL career.

    Related: 8 Motivational Peyton Manning Quotes | Entrepreneur

    Despite some well-intended advice that fell flat in that first huddle, Manning’s father was still his “hero” and role model when he was a young athlete, and the former quarterback says everyone should find that person who can see them through the next challenge or setback.

    “At no point should we stop being coached ourselves,” Manning said. “No matter what level of success, we all hit a plateau at some point, and you need a coach to get you back on track. That can be a coach, teacher, co-worker, boss — somebody who is honest and candid with you. Don’t ever stop going back to that person.”

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    Amanda Breen

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