Here's Why Successful Entrepreneurs Need to be Leaders and also Simultaneously Nurture other Leaders
Free Book Preview: Unstoppable
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In the beginning stages of a start-up, the founder often becomes a multi-tasker who is responsible for all aspects of the business and can inevitably end up taking on more than they can manage. At this stage, it’s naturally time to expand and hire a team to support a growing business. So now, a founder must become a leader or a manager.
But what does it mean to be a leader? It all boils down to execution –ensuring that the job in hand is completed successfully and efficiently. Entrepreneur India explores how leadership is defined by execution.
Managing it All
One of the most important aspects of being a leader is to be able to manage your tasks and your team efficiently. You must be able to set clear priorities and delegate tasks in a timely manner to ensure that no deadline is missed. In the start-up environment, the only constant is change, so it’s essential that all hands are on deck to complete projects and secure new business at the same time. As an entrepreneur, one of the most important things is to adhere to deadlines, whether this is sending across a pitch deck for a big investor meeting or adding the finishing touches before the launch of a new product. It’s important that your entire team is aligned with the overall business goal and understand the need to progress. As a leader, you must also ensure that you are setting the right precedence for your team.
Oversee Don’t Interfere
While it’s essential to know what’s happening in each department of your business, it’s also crucial to make sure that you are not micro-managing. A founder’s business can often be very close to their heart and they may feel the need to be across every minor detail, however, it’s important to remember that employees are hired because of their particular expertise, so sometimes it’s best to allow them to make informed decisions . Here, you must pave the way for other leaders to strive in your company also.
The Right Skills to be a Leader
If you want to lead your employees to run a successful business, it’s necessary to possess certain skills such as time management, people management and decision making. A Master of Business Administration (MBA)can develop the business knowledge and practical skills that help graduates advance their careers in today’s competitive global markets.
Students can gain a broad understanding of contemporary management operations, learn industry-relevant skills and develop solutions to complex business situations.