Business school can give you a great foundation of leadership skills that are necessary to grow a company. However, there is more to leadership than what you learn in a classroom. Many of these skills are acquired through experience and over time. Growth Marketer Sujan Patel, via Entrepreneur, shares 4 of these leadership lessons for business starters.
Tip #1: Scale slowly and organically
If you’re working towards growing your business, don’t be concerned about having a strict structure. Pay more attention to automating processes in your business. For example, producing a training video for new employees makes the onboarding process faster. In turn, this gives you more time to focus on other tasks, such as building relationships with your clients. Scaling this way reduces the risk of your business falling apart.
Tip #2: Get ready to sacrifice
Starting a company is never an easy journey. Every business leader will have to sacrifice something in order to reach the results they desire. Business mogul Barbara Corcoran shared how in her early career, she had to to take up a job that she didn’t want in order to pay off her debts. But, this decision ultimately saved her company. So, remember: temporary sacrifices lead to long-term success.
Tip #3: Diversify early and often
Business school might teach you to “monetize early,” but it’s more important to “diversify early.” This means to get involved with side projects to sustain your business. Especially for entrepreneurs that may not get the best funding in the early phases, side gigs can help keep your company running. In example, a software developer could speak at events and instruct coding courses, while maintaining her core business. Exploring different projects can also open the door to future business opportunities.
Tip #4: Practice gratitude
Showing gratitude to your employees builds better relationships with them, which is integral for success in a company. Practicing gratitude helps you emotionally by alleviating stress, as well as “helps you gain a foothold on the work-life balance” that every worker needs.
Don’t just rely on what you learn in school; leadership is beyond the classroom. Focus on connecting with mentors that can help guide you as you develop and strengthen these skills. For further reading, access the full article here.