As entrepreneurs, we like to take the bull by the horns and move our business in, what we feel is, the right direction. While this seems like a natural thing to do, it can have dire consequences and lead to business failure. Entrepreneurs need to lead, not be employees of their own business.
According to the Minority Business Development Agency, leadership is one of the most important traits of a successful entrepreneur. “A leader has strong communication skills and the ability to amass a team of people toward a common goal in a way that the entire team is motivated and works effectively to get there as a team.”
So, do you want to do all the work yourself or have a team that does just as good as you to move your business towards success?
Why Entrepreneurs Need to Lead
As the owner of a business, you have employees. They were hired by you to do a specific job. If you are constantly doing that work, they will not learn to do their job and also not take stock in what they do. It creates a poor company culture that can lead to disaster.
When employees fail to learn, you have no-one in a position to take the reins of the company in your absence, voluntary or otherwise. It also causes a culture where employees feel micromanaged and dissatisfied with their job.
When employees are dissatisfied with their job, don’t expect maximum output. In fact, expect to have issues with people calling in sick and not completing their work to expected standards.
Creating Employee Entrepreneurs
Some of the most productive companies have an entrepreneur culture within it. This means that each employee is given stock in the company by being allowed to make certain decisions that affect the company as a whole. Collaboration is better and the company becomes seamless as there is no need for a commander to make all the decisions.
Employees effectively become the “entrepreneurs” of the company. They take pride in their work and feel as if they are the owners of the company. Imagine all of your employees having the same feeling about your company as you do.
So how do you accomplish this?
One of the best ways is to allow them to take part in decisions and even make decisions on their own. According to Marshall Goldsmith, empowering employees can make your business successful.
“Your employees understand their jobs,” writes Goldsmith in an article for Harvard Business Review. “Your role is to encourage and support the decision-making environment and to give employees the tools and knowledge they need to make and act upon their own decisions. By doing this, you help your employees reach an empowered state.”
Once employees feel empowered, they are more likely to make better decisions.
Final Thoughts on Why Entrepreneurs Need to Lead
You can be an employee of your own business or you can be the leader. Why did you become an entrepreneur in the first place? It wasn’t so that you could work 60+ hours a week in hopes of success. Keep in mind that successful entrepreneurs are good leaders and can lead a team of people to success. Give your employees a chance to show you what they are capable of and you may just be surprised at how well your business can run without you.
What is your thought on leadership? Can a business survive without strong leaders?
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