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A company has many forms. Employees see it as a place to work and earn money, top managers see it as a school of business, but owners see it as a brainchild they put pride in. The company’s success often depends on the CEO’s business values, personality, and leadership skills. Hence, it becomes increasingly important for executive developers to evolve as a good business leader, so they are able to keep up with the company’s growth and be capable of running it successfully.
This article dwells on the art of effective leadership and elucidates must-have practices for business owners, executive directors, and top managers that aim to grow their companies into international leaders.
1. Strong Team
Choosing the right people is the number one rule for laying a good foundation for your business. Your efforts alone are not enough to drive it forward. So you need a team of talented people with different competencies but similar values that will grow your company together. Before inviting someone to work with you, you should establish an unswerving corporate culture, namely a set of values to be cultivated within your company. In my case, I look for diligence, honesty, and genuine passion for technology in my people. Every member of my team is determined to work hard as long as it takes to win. They are straightforward and will never sugarcoat the truth no matter how painful it may sound. Finally, each of them is driven by a burning interest in technology and dedicated to making it beneficial to businesses and humanity as a whole.
In brief, a strong team is a close community sharing the same philosophy and pursuing the same goals. Their similarity makes them understand each other without difficulty, which simplifies the process of communication and teamwork. As soon as you and your top managers learn how to detect potential candidates for your business, you will see your company develop faster while bringing in more revenue.
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2. Right Roles
It resembles a jigsaw puzzle game; if you are trying to match wrong pieces, it just does not work out. Appointing someone to a position that does not excite them is a poor start for any business. Unless you see employees feel satisfied with their roles, it is a clear sign of the need to change either a person or their position within the company. My approach to assigning roles prioritizes providing my employees with the best environment to evolve. If they do not feel like taking a position, I never insist, but at the same time I expect them to achieve the utmost proficiency in the job role they agreed to take.
Another crucial aspect is the structure at the core of the distribution of job roles. The way governors and ministers share power is a good comparison here. Ministers are supposed to be adept in one field, backwards and forwards, while governors know a little bit of everything. This system of cross controls is what I practice at Computools as well. Such a division of competencies enables fine control over the company from the top-down without neglecting any level or area.
3. Financial Motivation
Financial motivation is similar to fuel driving your vehicle. The better the fuel that you have, the further you go. It is important to be able to fairly assess an employee’s expertise and offer them financial rewards that fully make up for their effort, energy, and time. The difficulty is that you cannot figure out what technique is best to apply to every employee simultaneously. While some prefer being rewarded with a pay raise, others like one-time bonuses depending on the number of hours they worked. The kind of motivator you choose has a substantial impact on the degree of an employee’s interest in work and their willingness to suggest improvements, innovations, and the time they will invest thinking about the fortune of your business at large.
Keep in mind that there is a separate category of employees who no longer see money as an effective incentive. These specialists tend to have a great wealth of domain knowledge, solid reputation, and high remuneration for their professional experience. As a result, their motivation is commonly non-financial and may come from the aspiration of taking an executive post, developing strong leadership skills, or becoming a mentor for others. Similarly, young specialists may prioritize career prospects or access to domain knowledge and expertise rather than high pay. Give it a thought when you distribute job roles within your organization.
Every business goal is a beacon of light for all team members. Setting the right goal is already halfway to success. My own golden rule for goal-setting comes from the idea that every goal should be measurable and show how you can get from point A to point B. Long-term goals need to be broken down into intermediate ones. A good business leader should be able to set achievable goals for their team because not every employee can make sound business decisions and organize their workflow efficiently.
Another approach to choosing smart goals is tied to record-setting. It is suitable for people that have no fear of failure and aspire to win. In this case, you should establish a set of goals, each leading to a new one: Goal 1 cannot be passed-over to reach Goal 2. Moreover, you should set the maximum expected potential as it has to motivate you to work harder and push you forward in your business thinking and decision-making.
Many top managers say that demanding behavior is highly recommended in large companies that have one-thousand or more employees. When the CEO’s and top management style is strict and oriented on hard work and collective achievements, the general working climate makes the team exercise more self-control and diligence. As a result, the majority of employees tend to adopt the attitude to work for their managers. So, when the executive director sets high standards, the rest have no choice but to adjust. The primary role of the manager is limited to goal-setting and task assignment, but they should avoid excessive employee supervision. You should not care how they make it happen, your only concern is the end result. As much as demanding behavior helps top managers interact with their teams, it is equally critical not to become a pushover while also showing respect for everyone in the company. Do not forget that your growing expectations and demands for others should be followed by improvements to your leadership style and behavior as well.
This leadership skills list is not complete. Keep up with Computools’s updates to uncover more tips on the art of running a company through effective leadership skills.
For Further Information
Computools is a full-service software company that designs solutions to help companies meet the needs of tomorrow. Founded by Sergii Tymchuk, the IT company has been supplying custom enterprise software to SMEs and big companies over the past 8 years. Should you want to find out more about the benefits of IT services for business needs, message Computools’s experts via firstname.lastname@example.org.
Computools is a full-service software company that helps businesses innovate faster by building the digital solutions or bringing the tech products to market sooner. Discover our collaborative approach and industry expertise that spans finance, retail, healthcare, consumer services and more.Contact us →