As we draw closer to the end of 2017 entrepreneurs and companies begin to assess their progress over the last 12 months. They examine their accomplishments and analyse their failures to help improve their business for the upcoming year. The questions begin to circle. What have we achieved? What went wrong? How can we change for next year? It allows room to reflect on their leadership skills and team work. The main focus here is reflection and analysis.
Leadership is an ability Entrepreneurs should be thankful for
Leadership can come to some natural and to others they must spend time and effort crafting this skill. Either way if it is done well it is effective. It is important to remember that you may have chosen your team but they have also chosen you. They have chosen to follow your leadership to achieve a goal you have envisioned. Respect your team and their work efforts and show gratitude as without them there may not be much success.
Stay Interested and Inspired
It can be easy to forget why you started your company or project in the midst of the business world. But there was an inspiring moment to set you on your creative path. Most entrepreneurs lose their spark after set-backs. It’s important to keep in mind that failures are inescapable and crucial to your progress. You need to have these failures to test your methods and boundaries to grow. Remember your reasons for starting to keep yourself motivated through the harder times. This will in turn keep your team encouraged and motivated watching their leader.
Avoid Micromanaging: Learn to delegate
A common mistake made by most as they want to ensure their goal is achieved by their vision. By micromanaging each task it can be fatal to your business. We all struggle to trust our vision with other but the team you’ve employed are there because you trust their skills and capabilities. Learn their strengths and delegate the tasks to them trusting that they will execute it on their terms. If mistakes are carried out use it as a teachable moment and continue.
Commitment is Key
The lesson most entrepreneurs learn quickly is to commit to your idea or your project will never develop. Your commitment will shine to your team and encourage their own commitment to their work. By showing full commitment you are further proving your assurance to the success of the business/start up.
Recognise your Mistakes
As an entrepreneur you are in the position of leadership with the capability to influence others. By recognising and owning up to your mistakes your humility will essentially allow others to follow suit. Take a humble approach to admitting your mistakes and move forward by setting an example of ways to avoid this in the future and options for solutions.
As an entrepreneur it’s important to remember that you and your team are all responsible for the success and failures of the business. Each person must work together to analyse the accomplishments and mistakes to help drive the business forward into success.