5 Habits of Successful Small Business Leaders

  • Posted on: 9 November 2014
  • By: Leonard Shostak

Lots of small businesses come into operations each year but not all of them remain afloat. Even for those that manage to stay in business, not all are equally successful--not only from a financial standpoint but also from an operational efficiency, leadership and team effectiveness standpoint. One of the key factors that determines the long-term success of a small business is its leadership. Here are 5 habits that successful small business leaders demonstrate.

1. Successful small business leaders walk the talk.

Good business leaders not only follow excellence in their business practices but also do everything in their power to constantly improve their offerings and refine their business model based on their values and beliefs. They implement those values into practice through the everyday improvements they undertake and the leadership they show to their employees.

2. Successful small business leaders take time off.

While we all tend to think that small business owners work long hours (and they certainly do!), they also understand the importance of taking time off to relax, replenish their physical and mental capacity and clear their minds. They know the significance of time off and how it can help them to come back with fresh ideas and higher energy to take their business to the next level or pivot at the right moment.

3. Successful small business leaders streamline.

They constantly take note of inefficiencies in operations or among employees. They are serious about customer feedback and implement it in refining their operations, products ,and services instead of looking at it as inconvenient criticism. They take time to put systems and processes in place to make operations more efficient and employees more effective long-term.

4. Successful small business leaders know the importance of project management.

Small business leaders understand the importance of prioritizing work and streamlining. This is where managing projects properly, selecting the right project management tools and hiring great project team members are aspects each excellent business leader takes into account and implements.

5. Successful small business leaders communicate clearly.

This is a key characteristic not only for small business leaders but for any leader in any industry. The ability to communicate well, be professional, yet understanding of the clients’ needs and approachable is like art. It presents the culture of the business and the organization. Excellent communication from a small business leader can significantly boost employee morale and will ensure customer loyalty.

If you are a small business owner or a professional working to improve a small business, these are key tips to consider in improving not only the operations of a small business but also the leadership style of the team or individual behind it.