Being a leader is no easy task, and this is especially true if you are also the business owner, according to real estate business coach James Short.
Mr Short said you are both responsible for setting the business’ strategic path and in charge of the people working for you.
“You are faced with making decisions that will not only impact your business but the lives of the people within the company,” he said.
“You need to strike that balance between making a profit, but at the same time not compromising the wellbeing of your employees. After all, how can a business move forward if the people within the organisation are not happy with what they are doing which causes them to be not efficient with their tasks.”
Mr Short said this is just one of the burdens or challenges of being a leader.
He added that even the process of overcoming these challenges is a challenge in itself — but before you can start tackling them, you have to first recognise what they are.
If you want your business to succeed, Mr Short said, the people under you should also succeed.
“A company is like a team. It is composed of many people working towards the same goal. The success of those people will also mean the success for the company.
“Look for potential within the team and develop it. Mentoring and coaching can go a long way, and you will definitely see the benefits from it.”
Mr Short said that as a leader, people look up to you.
“A leader’s job is not only about making sure that people are doing their jobs correctly but also to motivate and inspire them,” he added.
“Lead by example. Practice what you preach. Show them what is possible just by being positive. Allot some of your time to talk with your employees. Encourage and motivate them during these talks. Do not underestimate the power of pep talk. Sometimes, that is just what an employee needs to boost morale.”
The business world is always changing, Mr Short continued.
“Trends come and go. New processes and innovations are constantly being discovered. It has always been that way when it comes to business. As a business owner, you need to keep up with these changes to stay competitive.
“Whether it be changing your company policy or changing your processes, it will not always be a smooth transition. As a leader, you need to know how to overcome resistance to change and handle your employees’ reactions to change.
“Be open when discussing the consequences that come with the change in the company, but highlight the positives. This will earn you your employees’ trust and will make the transition smoother.”