3 Leadership Lessons That Every Entrepreneur Should Imbibe

Learn essential leadership lessons and become an effective entrepreneur as well as a leader
  • BY Jaspreet Kaur

    Feature Writer, BusinessEx

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  • Oct 10,2018
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  • 10 Mins Read

A leader plays a significant role in running an organization. In the absence of a directive, things turn haphazard and are unable to render decisive output. So, a leader is precedent who not only directs subordinates but also strategizes to withstand unforeseen business challenges.

Essentially, leadership is not an innate attribute. It is learned and imbibed into one’s practice and then, carried out to achieve organizational aims. Being an entrepreneur does not make a person a successful leader. For that, the entrepreneur should know leadership lessons that enable him to understand his inmates better and build up a fortified team.

Not Every Entrepreneur is a Leader

It is true that entrepreneurship is somehow related to leadership. However, it should also be noted that not every entrepreneur can be a leader. Some of the examples of renowned leaders are Bill Gates, Warren Buffet and Steve Jobs. These leaders have some essential qualities that make them distinct from others and thus, under their guidance the organization thrives and employees prosper.

Ups and downs are uncontrollable events in the business; such events testify a leader’s ability to combat and keep the organizational functions unharmed by these events. Such leadership qualities can’t be attained merely from reading books but by religiously following some basic leadership lessons. To become a good leader as well as an entrepreneur, follow these three leadership lessons.

  1.    Hyper-specialization— an integral tool

Having specialization in a certain domain offers fewer good opportunities to the business. However, to sustain the challenging business world it is important to hyper-specialize. In essence, hyper-specialization creates a distinctive entity of the company in a particular niche. In addition, customers will know the organization for its hyper-specialization and thus, seek their help over other competitors.

So as to increment sales and revenue, an entrepreneur should invest into specializing in the domain.  The entrepreneur should ensure that his organization would offer something more than the edge to the customers.

 

  1.    Listen to the team

A leader is lone without a team; the team assists in achieving goals and thus, it is precedent to listen to them. A happy team correlates to a positive work environment. It attains organizational objectives and also, facilitates the smooth running of the organization.

Timely meets and simplification of operations will keep the team focused and contented. Furthermore, it will foster a healthy relationship between the leader and the team.

  1.    Build your connection

Connecting with new people is really important as it helps to grow the business and learn fresh insights about the business. So, one should invest time in fortifying old relationships and creating new ones. Besides adjoining to new business partners, entrepreneurs should strengthen customer rapport too.  A weekly automated message of product discounts and offers acts as a reminder and help keep the bond intact.

These leadership lessons are a key to become a master entrepreneur as well as a leader. Thus, imbibe these lessons in your nature and bring out the best leader in you.

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