Small Businesses

The Leadership Style of Small Business Owners Can Help Increase Profitability

The Covid-19 pandemic has caused many business closures. Stay-at-home orders are being issued by government leaders. The government has reopened in phases to limit customer numbers to 25%, 50%, 75% and 75% respectively for the safety of our community’s health. How do you lead in a constantly changing environment. How do you motivate employees, while also looking for the next product that will keep doors open? How can you improve your leadership style and make employees more productive in a uncertain future?

Leadership

It would be a good idea to send out a survey asking people what qualities they look for in a chief executive. Next, promise to do all you can to meet those expectations.

Leaders must provide coaching because without constructive feedback, probing questions, and active teaching, no one can be their best. Communicate with others in a positive and honest manner.

Look for ways to improve

  • What’s new?
  • What’s next?
  • What’s better? Not only for you, but for all those around.
  • You must find a meaningful purpose to address your most difficult and challenging assignments.

Identify who you are and your values. Then, speak up for them.

Leaders must stand up for the shared values of their group.

Encourage a shared vision

  • Imagine the future and imagine exciting, enabling possibilities
  • Inspire others to join you in a common vision.
    • Imagine all the possibilities
    • Find a common goal

Leaders who are focused on the future attract more followers

  • Trends
  • Listening to Podcasts
  • Watching documentaries

Leaders who talk about the “why” of work more than the “what” of work are regarded as the most admirable by people.

Leaders are those who want to accomplish something, and that is something no one else has achieved.

Motivating employees

  • Cross Training Employees about each other roles/responsibilities
  • Mentoring
  • “How can I help ?’…?” Walking for 30 minutes per week
  • Delegating responsibility
  • Brown Bag Lunches (Training)
  • Encouragement and work for those who do more than the normal day-to-day activities

Send them to seminars

Ask them to make presentations

Quarterly Corporate Town Hall Meetings (teleconference).

Weekly recognition for outstanding performers

  • Email
  • Walking around
  • Must be based upon ‘visible’ performance (daily if exceptional).
    • Monthly meeting (recognize your performers)

Customers can interact with social media via Social Media

  • Do you have a WordPress website that is scalable?
  • Do you have LinkedIn profiles that include information about your employees and products
  • Engagement with customers markets regarding current happenings
    • Facebook
    • Instagram
    • Reddit
    • Twitter
    • Weibo (china)

Some business owners will make the changes necessary to stay afloat, while others will go under. Navigating through rough waters requires team effort, innovation and commitment to get it out!!

As a leader of a business, your job is to communicate and communicate with honesty, positivity, and trust to build trust among customers, employees, and shareholders.

molw.net

We are a team of professionals with each having two decades of experience in start-ups, sales, marketing, finance, HR, large scale project and profit centre management and running mature cross functional operations. At Molw.net we are big believers that knowledge transfer is critical to our industry’s evolution. We love to share our experiences and learnings through our online resources.

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