your password has been reset successfully, Please login again.

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
Oct 10,2018

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.

Please add your Comment
SIMILAR Articles
April 13, 2020
In the current situation, when your business is going cash-strapped and grappling for survival; you ...More
By Jaspreet Kaur
April 07, 2020
A company can deploy new-age marketing skills to increase speed, synchronization and develop connect ...More
By Jaspreet Kaur
April 04, 2020
During the quarantine, entrepreneurs need to adapt transition and embrace some of the healthy practi ...More
By Jaspreet Kaur
March 19, 2020
As per the UN conference, the coronavirus outbreak may affect the global economy by $1-2 trillion in ...More
By Jaspreet Kaur
February 24, 2020
Hyperlocal platforms are today helping kirana store owners to cope with the competition, initiated b ...More
By Jaspreet Kaur
February 16, 2020
Companies have begun employing information technology to develop their productivity in a series of d ...More
By Jaspreet Kaur
January 31, 2020
Here’s how a businessman can get perfect mentoring as well as angel investment for a venture ...More
By Jaspreet Kaur
January 28, 2020
On 71st Republic Day of India, 11 Indian entrepreneurs were honored with Padma Bhushan and Padma Shr ...More
By Jaspreet Kaur
January 23, 2020
Tea, being the favourite hot beverage of the Indian natives, comes in rich flavours; in a bid to aro ...More
By Jaspreet Kaur
January 06, 2020
Microfinance startup, Satin Creditcare Network Ltd (SCNL) has lately received External Commercial Bo ...More
By Jaspreet Kaur
December 27, 2019
The company’s demise was a gradual process, which began with the sale of its physical stores. ...More
By Jaspreet Kaur
December 23, 2019
Salesforce has separately inked Memorandums of Understanding (MoU) along with Telangana Academy for ...More
By Jaspreet Kaur