First, let’s define the attributes of a great company:

  • It generates enough cash flow to be self-sustaining.
  • Plays a significant role ln shaping its industry.
  • It is admired and respected by its industry.
  • It is respected by its customers.
  • It has sustainability.

Today we will look at one aspect of what a company needs to be great: its Leadership Style. It is impossible to build a great company without a great leader.

Leadership Identified

There are two distinctive parts to leadership:

  1. The first is the function of a great leader: the number-one responsibility is to create a clear vision for the company and to be committed to and to vigorously pursue that vision. In other words, you wake up every day with that vision in front of you and every action you take should take you closer to achieving your vision.
  2. The second part of a great leader is the leadership style. The following are the components of a great leadership style:
    • Authenticity. That means living the vision of the company. Included in that is defining the value of the company and incorporating that value in all you do.
    • Decisiveness. In my opinion, this is a critical part of growing a great company. It is the ability to decide and sometimes take a chance, even when all the desired information is not available.
    • Focus. Peter Drucker wrote: “Do the first things first – and second things not at all. The alternative is to get nothing done.”
    • Always move forward. Leaders of great companies are always moving forward. They realize change is the only constant in today’s business environment and they embrace the challenge.

This is a great business code to live by. Post it in a visible place. It must become part of your personal business life.

Contact the Business Mentor Team to help you create your 2017 plan for success!

Contributed by: Nick Petra, www.BizQuack.com