DEVELOPING LEADERSHIP SKILLS

5 Ways to Develop the Leadership Skills Every Self-Employed Entrepreneur Should Have

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Leadership is a necessary skill to have, both for start-up founders and self-employed entrepreneurs. Demonstrating positive leadership skills and efficiently guiding your team can mean all the difference to the success of a business or project. If you’re starting out in business, here are five ways you can enhance your leadership skills.

Be a self-starter

Leaders lead. They know when it’s the right time to take initiative and are always looking for new ways to grow and learn, both for themselves and for their business. Staying up to date with the latest knowledge and industry news maintains this drive to succeed and will provide you and your business with a greater chance of success.

Exercise discipline

It’s vital to know the best ways to not only keep your staff motivated but to manage and inspire yourself. Self-discipline is perhaps the most important characteristic that any business owner needs. This is especially the case when it’s a home business that consists of just you, whether it be wedding planning, an online business, or spread betting. Using the latter as an example, you would need to do the research into the various aspects of trading, such as contracts for difference, and assess all the different markets open to you. The more disciplined you are, the better you are able to lead yourself to success in any business endeavour.

Delegate

While taking initiative is an important aspect of being a leader, it’s impossible to know it all. As your workload increases and business progresses, you’ll have to adapt to working across the team. You’ll need to develop the skills to recognise what each member of your team is good at and delegate tasks accordingly. Ultimately, this will help to decrease turnover time, which will lead to increased productivity and workflow being spread around to prevent you from feeling the pressure that comes with being responsible for performing most of the work.

Develop negotiation skills

The ability to navigate is necessary for any role but especially one that requires leadership. Knowing how to choose a valuable transaction, whether with a customer or supplier, negotiation is vital to performance. An effective negotiator’s true worth is their ability to think critically and to listen actively. The best negotiators spend the majority of their time planning. They design strategies based on what they believe are the opposing side’s demands and stakes before the negotiation begins. Great leaders and negotiators are able to apprehend cues, both verbal and non-verbal, in the negotiations, to put themselves at an advantage.

Empower your team

Your staff has a crucial role when it comes to how successful your business becomes. This is certainly true for start-up firms, where each member of staff has a wide influence on results. It’s your job as a leader to ensure that your team is focused and motivated, and reaching business targets and goals. By empowering them, you’ve achieved half the battle.

It takes time, effort, and dedication to learn new skills. The positive effects they can have are endless, however, and are more than worth the effort if you’re planning to start out on your own.

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