With a staggering statistic that reads 99.7% of all business in the US is small business, it’s no wonder this sector finds itself under the magnifying glass. Unlike corporates who tend to focus on their brand from a board point of view, a small business often only has the input of the owner to make their mark and create a brand. With this in mind, it’s imperative that the person at the helm have what it takes to take the business to the next level. They need to have a global perspective in order for the business to grow, and here’s how they achieve this.
Leaders Rank Staff as a Top Priority
The first point of contact a customer has with a business is very rarely with the owner unless the owner runs the show themselves. The rest need rely on staff members to help out their customers which could be a good thing are a straight-up disaster for the business. Leadership coach and motivational speaker Simon Sinek stresses the importance of taking care of staff. Staff needs to know that they can trust owners and managers in order to feel confident in their roles. This will also translate into the type of service they provide to their customers.
Leaders Take the Necessary Precautions When Thinking Big
It’s not enough to just push the orders and sales in the business, as leaders need to ensure they have the necessary processes down as well. This includes ensuring that the various risk factors, including currency risks are taken care of for those who have decided to go global. Taxation and company laws are also important to take care of to ensure that things go as planned as many businesses come up short due to having the incorrect documents and process flows.
Leaders Keep Learning and Encourage Others to Do the Same
Business tycoon Richard Branson says “Train people well enough so they can leave, treat them well enough so they don’t want to”. No one likes a know-it-all, especially when they don’t know it all. Good leaders are inspired to keep learning and encourage those around them to do the same. This is not only limited to technical training or work-related skills but also training that improves interpersonal skills and the emotional quotient.
It takes more than just a knowledge of a product to be a good business leader. Soft skills, administration skills, and a keen understanding of staff dynamics will help the small business owner become a global leader.