A 2021 profile recorded around 137,328 operational small businesses in Hawaii, employing a total 275,076 workers. While there are a lot of businesses in Hawaii, establishments were said to have lost 52,844 jobs, for a net decrease of 4,488 jobs in 2020 alone. For this kind of volume and volatility — and with this amount of workers — business leaders in Hawaii and across the country must rely on key leadership skills to see their companies grow. Most business leaders obtain the skills needed through a traditional business degree before entering their chosen industry, as the coursework covers the key areas of business leadership: finance, human resources, workplace relations, economics, marketing, and team dynamics. Today, the demand for more qualified managers at all levels has led to top universities offering online business administration programs that allow future and current leaders to learn key leadership skills remotely. By being 100% online there is an opportunity for those further into their business career to learn more leadership skills. Yet, becoming a great business leader is not just dependent on learning these skills through a business degree, and there are ways that those in current leadership positions can increase their skill set. Here are some ways you can excel as a great business leader:
Encourage personal and professional growth
A work culture that pursues personal growth, alongside professional growth, indicates success on two levels. One, businesses that invest time, resources, and educational opportunities in their employees can enhance their skills. Two, businesses that allow employees to design their own goals can lead to innovative practices the company can integrate into their strategies. In addition to the competitive advantages stated, implementing a careful personal development strategy strengthens the relationship between employers and employees. This attention to your employee’s well-being, in turn, will be able to increase their productivity, improve their overall performance, and boost their job satisfaction.
Set clear goals
As we’ve mentioned, business plans must detail realistic expectations and challenges a business should have forecasted before its launch. Similarly, your employees must recognize your targets as achievable. This allows them to visualize each step needed to actualize the company’s goals. Moreover, with each goal met, it’s important to celebrate and debrief these milestones to encourage a positive work environment. These might also mean providing feedback, coaching, and mentoring.
Maintain a positive outlook
Launching a business is one thing, but operating it presents another challenge of its own. Faced with multiple tasks and systems that have to be optimized for daily use, a few missteps are bound to surface. However, great business leaders remain level-headed when faced with an obstacle. Being logical means you can envision the best possible courses of action necessary to solve the problem. This also means your workforce will remain calm and efficient as you work together to address the issues at hand.
Foster open and honest communication
In light of articulating and setting expectations to your employees about your company’s vision and goals, communication also means providing a quick and timely response to your team’s needs. This is especially valuable in workforces with remote arrangements. Open and honest communication can manifest in streamlining processes like creating standard workflows, giving regular feedback on reports, and scheduling formal check-ins. Check-ins have become an important tool in endorsing transparency between employers and their businesses. In case some employees report working remotely as a hindrance to their productivity or creativity, you can consider utilizing coworking spaces to introduce a change of environment. Ideally, these can also strengthen team connections and present collaboration opportunities. If you are looking to become a better leader we hope that the above tips prove useful.
Piece written for treehousecoworking.com
by Meredith Cassidey