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2019-01-29 19:11:22How To Run Your BusinessEnglishWhether you run a global empire or a small local business, the way you act as a leader often directly reflects on your employees and,...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/10/iStock-612728906-1.jpghttps://quickbooks.intuit.com/au/resources/how-to-run-your-business/5-leadership-tips-for-small-business-owners/5 Leadership Tips For Small Business Owners | QuickBooks Australia

5 leadership tips for small business owners

2 min read

Whether you run a global empire or a small local business, the way you act as a leader often directly reflects on your employees and, therefore, your on business outcomes. Here are five leadership tips for small business owners to help make you a better boss.

1. Communicate a clear vision

Being a good leader doesn’t just mean delegating tasks. It means inspiring your troops to exceed expectations and provide them with clear guidance and goals. It all starts with a clear business vision and mission, that is, what your small business is trying to achieve and how you are planning to get there.

Make sure you effectively communicate your vision to your employees, so they become more aware of their part in it. This can help bring your team closer together. Share with your team the relevant parts of your business plan and work out how their day-to-day functions will bring the business vision to life.

2. Lead by example

The best leaders don’t just lead with words, they lead with actions. So, instead of just telling your employees how to do things, let your everyday actions, behaviour, and attitude speak for themselves. Be bold, be decisive, and show focus, motivation, and enthusiasm, even when you’re feeling stressed during busy periods or have to deal with difficult situations. Always make sure to treat your customers and team with the respect they deserve. If you lead by example, these qualities are likely to rub off on the people around you.

3. Make your employees a priority

How you treat your employees can significantly affect the success of your business. If your team is unhappy or disengaged, the profitability of your operations can suffer. Successful business leaders understand this and, therefore, make their staff a priority. This involves getting to know each individual and their strengths, listening to their ideas, and offering them opportunities for professional growth and training.

You should also consider seeking regular feedback from your employees. This allows you to make changes and improvements to your operations and work environment, which can result in a happier work culture.

4. Allow time to develop yourself

For people in leadership positions, it’s often difficult to admit faults. However, recognising your weaknesses and working on them is an important part of personal and professional growth. That’s why every leader should make time for their own development and self-improvement. After all, you are never too old to learn something new.

5. Don’t forget to delegate

If you’re like most small business owners, you are probably used to wearing many hats. However, once you start managing a team, it’s probably time to hand some of them on. By delegating jobs to others, you can spend more time focusing on being the leader your staff needs you to be.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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