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Your Formula For Business Success: Include These Four Top Leadership Skills

Every business needs a leader, and every leader needs a clear and proven formula for success. Whether you’ve recently raised $500,000 to fund a venture or cleaned up your winnings in your family business, everyone and everything depends on your top leadership skills. Integrate the other four elements into your core leadership skills to build a competitive edge and build a foundation for implementation.

Mastering Communication

Although communication through each customer’s hierarchy is critical to implementation, some managers view it as a one-way channel, and this can be a fatal mistake. Dictating and transferring, although necessary aspects of almost all operations, are an incomplete picture of corporate transactions. The other half, listening, is very important, yet often underutilized in leadership positions.

They took responsibility

Operational leaders enjoy the rewards of their successes, but also blame themselves. Accepting responsibility not only sets an example for others, it gives you an opportunity to learn and grow. However, mistakes will be made, if they don’t show you anything in the process, or if you seem to hold others accountable if you are the best choice, the selling price for those mistakes is high.

Leaders who fail to admit culpability and shirk the ultimate responsibility for damage control and assessment are failing this business and threatening its future. Those who take the bull off their necks lead the company to higher ground and cultivate the top leadership skills that command success.

Building Relationships

In the early days of creating Microsoft, Bill Gates made it a practice to surround himself with people of high caliber and quality. Although some in leadership roles may be inclined to hire people who will make them look really good or may be at their beck and call without ever asking for orders, Mr. Gates understood the value of the bottom line.

Even as a business leader, everyone in the customer is a member of the group trying to make or break your fortune. Carefully build a circle of employees, partnerships and relationships that you can rely on to shape your future. Although you may never completely turn over the leadership of the business to them, you will always have a solid support network that keeps the business going from all angles.

Defining the Vision

Although just surviving in today’s business climate can be difficult, every successful leader understands the value of formulating and presenting a vision for the company. Even if your company is tied up in orders, affected by debt or affected by other growing pains and common problems, the vision and purpose should always be clear.

Communicating this vision and constantly reminding employees, partners and other contacts how you can work towards the daily goals that enable the long-term vision to be realized is something every leader should work diligently on. Accomplishing the vision should mean that everyone involved is working towards it, both consciously and unconsciously. If you lack the vision to be a leader and your company is not consistent in following it, stagnation can easily drain the competitive life out of the business.

Including these four elements in your leadership formula will ensure success in the present and help you find the type of people who can lead your small business into the future. In the absence of these important elements, success may be fleeting.

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