What Do Leaders of Successful Businesses Do? And 7 Habits of Effective Leaders

What Do Leaders of Successful Businesses Do?

For a business to be successful, it must have a strong leader. Leadership can make or break a company. This is why public companies pay several million dollars for a new chief executive officer. Below are nine characteristics of successful business leaders. It is therefore important to ensure you are equipped to manage the situation in the best way possible.

Guy Kawasaki has given his opinions on how to handle this difficult process in his recently released book; “Reality Check”. We have summarised a few of his key tips below:

1. Have a positive attitude. Believe that your business is the best business in the world. Self-confidence leads to decisiveness and in particular, the ability to back your own judgment and to take risks. Be determined. Be persistent. Be resilient. Overcome setbacks. Do not dwell on past mistakes and learn from your errors.

2. Love what you do. Enjoy your work and the challenge it provides. Work should be fun, not merely something to be tolerated. Enthusiasm generates a hard work ethic and a passion which becomes part of the culture of your business.

3. Seek wealth creation. Aim to maximise your sales by increasing your prices, selling more to your existing customers or obtaining more customers either in your local area, in another state or in another country. Control your costs. Eliminate waste. Sell unproductive assets and discontinue unprofitable products. Know your business. Measure your marketing. Strategic partnerships with suppliers and customers can give your business greater flexibility and enable you to better manage your costs and maintain or increase your margins. Maintain your competitive advantage. Study your competitors’ assets, capabilities, marketing, costs and culture.

4. Delegate. It is impossible to do everything yourself. It is also unwise as it is more productive to get those with the appropriate skills to do appropriate tasks. The ability to get people with different skills to work as a team is a starting point for all successful businesses. Recruit high quality staff with complimentary skills and organise these people in the most efficient way. Motivate your staff and encourage them to think independently. Non-performing staff which don’t fit the culture of your business need to be replaced quickly because they can affect relationships with your customers and other staff members and ultimately the profitability of your business

5. Seek financial, marketing and legal advice. Have a vision and clear goals. These goals should include future income and the achievement of various tasks. A strategy to grow the business and a detailed business plan consisting of marketing and financial plans are important. Manage your growth at a rate that enables your cashflow to remain positive.

6. Concentrate on doing what you do best. Specialise. Focus on single industries rather than diversifying. Maintain your core business. Outsource non-core activities and functions. Dominate a niche market rather than attempt to serve a large number of markets.

7. Have systems in place. You need the business to run efficiently even if you are away from the office for 12 months. The best example of a company with efficient systems is McDonalds. Teenagers can run their outlets profitably and efficiently because appropriate systems are in place.

8. Worksmart. Success does not mean working 100 hours a week. Today, it is more likely to mean working 35 hours a week and spending time with our family and pursuing your leisure interests. Working smart is much more important than working hard. Spend time working ‘on’ your business and not ‘in’ your business. Seek continual improvement. This may mean more efficient procedures, better systems, better marketing or better cashflow.

9. Have a good support base. Hire staff you can rely on for advice. However, use discretion when listening to advice from others. Encourage training. Foster an attitude of continuous learning both for yourself and your staff. Have a mentor. Be a mentor to your senior staff. Read and attend seminars. Notice what others are doing.

7 Habits of Effective Leaders

EFFECTIVE LEADERSHIP IS something we need to focus on daily. It’s something that takes practice, questioning how well you’re doing, reassessing and best of all continuing to try!

Like any learning, watching others who are good at leading and following their example (otherwise known as R & D – rip off and duplicate) is a successful strategy to follow. So here are the habits of effective leaders:

Clarity of Vision (and ability to share that vision).
Healthy discontent for the present.
High standards of excellence.
A sense of urgency (operating at pace).
Strong commitment to implement.
Ability to eliminate likely distractions.
Build a strong team.

Valuable Lessons You May Glean From Successful Business Entrepreneurs

Ever wondered what factors contribute to catapulting a business firm to success? Success, as many people who are starting their business or have experienced the birth pains of a business venture can attest, does not happen overnight. Successful business people who have blazed trails and expanded into the global market share that foremost among the factors that contributed to their success is having incredible focus. Hard work and determination are also part of the equation for success. Then of course, the way business heads or company founders adopted to he changing business environment also played a vital role in their stories of survival and growth. The business entrepreneur’s mindset or positive outlook is likewise an instrument to success.

Fashion designer Anna Sui is perfect example of a famous business personality who, through her own efforts, attained a measure of success. There were moments, she once said in an interview, when she did not have money, but she did what she can, and even took extra design jobs, to keep her company going. She’s an entrepreneur who’s alert to opportunities, and that helped in a big way, too. Today, her fashion business is hugely successful and her creations are snapped up by satisfied clientele worldwide. Sam Walton, the founder of Walmart, started out in the retail business armed with nothing more than a dream. He put up a small shop, adopted a hands-on approach, and through perseverance, resilience and a far-thinking mind, steered his retail shop to success. There are many business entrepreneurs who have fumbled & lost their direction. The more courageous, however, hang on to their passion, plan again, and rely on faith and gumption to overcome obstacles and create a successful business.

Other established firms employ their own tactics and techniques to sustain the momentum of business success. Some companies, like Disney for example, use a tradition of legendary service and whimsical touches at every turn. Yet even highly successful firms need leaders that can breathe fresh air into their corporate culture. Leaders with strategic goals that can revamp the business, even use tools to be up-to-date with market trends and ways of doing business in the digital world in order to create new revenue streams are highly desired nowadays.

It can be noted that the tasks & challenges to ensure business success in the modern age are not as simple anymore as they may have been decades ago. Today, most companies need to concentrate on maintaining great customer experiences. Firms nowadays also need to show corporate social responsibility and environmental responsibility. In fact, many companies are getting a pat on the back – from both stockholders and the public-at-large – for their impressive eco efforts. Indeed, a focused approach to business; cultivating continuous efforts to improve it coupled with the ability to spot and seize opportunities & come up with out-of-the-box solutions to problems; being tenacious in pursuing goals; bouncing back from setbacks; and above all, having faith can lead to a successful business. So whether you’re an online entrepreneur who’s passionate about your products & services, or an employee who’s still honing skills, you can create a positive vibe with your prospective clients by embodying the traits and gleaning useful insights from the experiences of successful business entrepreneurs & leaders.

Digital Signage Solutions – Things to Consider Before You Start Using a Digital Signage Solution

As a startup company, you need to start building brand awareness by introducing the products and services that you are offering, and other information about your business. This is where everything starts, and it will determine the result that you will get from your company. Digital signage solutions are said to be the best way to promote companies, because it offers a lot of benefits that conventional static banners can’t provide. This article was written with the intention of helping you learn the things that you need to consider before you get digital signage solutions for your company.

The first and most important thing that you need to do is to allocate a particular amount that you will be spending for advertising your company. You also need to set the scale of the advertising campaign that you will be doing, because this will help you determine the digital signage solutions that your business needs. Digital solutions are more expensive compared to conventional static banners, so you need to know the amount that your company can afford.

Once you have the scale of advertising that your company needs, and the budget that you can afford, the next thing that you need to do is to find a reputable digital signage solutions installer. Installing and maintaining digital solutions can be a daunting task for most people, and you need to find professionals who will do it for you. They will also give you some tips and advice that you can use to further enhance the performance of the digital solutions that you are using for your business.

The location also plays a great role in the effectiveness of the digital solutions that you will be using. Regardless of how technically advanced a digital signage solution is, it won’t be as effective as it should be if people can’t see it properly. You need to find places where you can mount monitors, so it can be seen by everyone who are within the area.

The most important factor that should be considered when using digital signage solutions is the content. Always remember that you are using digital solutions because it allows you to show more content and to better interact with your audience. The content of your digital solutions should provide useful content that people may find interesting and informative. Regardless of how much you spent for advertising, and where you installed your digital signage solutions, it won’t be effective without the right content.

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