Jeff Bezos and Steve Jobs launched Amazon and Apple from their garages. Facebook got it’s start in Mark Zuckerberg’s Harvard University dorm room. Pierre Omidyar launched what would soon become eBay from his living room one Labor Day weekend.
Some of the world’s largest and most influential businesses started from very humble beginnings! But did you ever stop and wonder why exactly these companies found success despite their undistinguished starts?
All were led by great business leaders who persevered through even the toughest times, despite being very different from each other. Indeed, the traits of a business leader can make or break a company. A good business leader can find entrepreneurial opportunities anywhere and use their leadership qualities to create success.
So, what are the Traits of a Business Leader that May Produce Success?
While there’s of course no secret formula that will automatically lead to business success, the traits of a great business leader go far beyond just barking orders to employees. The best business leaders stay humble, remain true to their vision and are fair to those around them. Here’s a quick look at some of the traits of a business leader that may lead to success down the line, and if franchising may work as an option for those on the lookout for business opportunities for sale!
A good business leader must make important decisions – and fast!
Many often suffer from “paralysis by analysis,” that is, to postpone a decision after they weigh too many options. Instead, the traits of a great business leader are to look objectively at their options, weigh them carefully and make a logical decision quickly.
Integrity is crucial in the business world.
Business leaders should always strive to earn the respect of their employees and never feel entitled or above anyone simply because of their rank in their company. Stay humble, always be honest and lead by example!
No employee will ever want to work for someone who doesn’t believe in their own company!
Even through tough economic times or if your product or service would put most people to sleep, instill a sense of enthusiasm in your staff. Most importantly, show enthusiasm in your own daily work and keep your team motivated through thick and thin.
Walt Disney was fired from his job as a cartoonist at the Kansas City Star newspaper in 1919 because his editor felt he “lacked imagination and had no good ideas.” He would go on to become one of the wealthiest and most influential entrepreneurs in the entertainment industry.
Imagine if Disney had given up after being fired. The world would be a much different place!
Instead, he chose to persist and follow his dreams.
Indeed, persistence is key as a business leader quality. The most successful business leaders never give up and find ways to work around their personal and business setbacks!
Howard Schultz had a vision of a global brand of coffeehouses. His idea later became a reality with Starbucks!
As a business leader trait, vision is critical. Start with an idea and pursue it to the end. It’s the only way your idea can turn it into reality!
Business leadership is about much more than just looking at data and going through the motions to grow a business.
Instead, constant innovation and creativity is required to stay one step ahead of the competition and grow over the long-term. Complacency and redundancy will only lead to stagnation – a surefire way for any business to lose its competitive edge fast.
Perseverance, of course, is very important in the business world!
Even when everything seems to be going wrong and a business seems to be on the brink of failure, the best business leaders stay and fight because they realize their dreams are, in fact, worth the fight.
Effective business leaders are aware of their own strengths and weaknesses.
Rather than go to extreme lengths to cover up their weaknesses, the best business leaders address them head on and learn from their mistakes and deficiencies. This is really the only way to grow both personally and professionally.
Oprah Winfrey said that “passion is energy.”
In addition to enthusiasm and vision, the traits of a successful business leader also include unbridled passion for what they do. Passion helps entrepreneurs see their projects out until the end and feel a sense of personal accomplishment aside from any success they may enjoy from their business itself.
Finally, the importance of fairness can’t be overstated.
Treat others you come across with respect, dignity and appreciation, from board members to janitors. Only by being fair and respectful to everyone, can you earn their own respect and build a strong business team.
Do You Have the Traits of a Business Leader?
The traits of a business leader can make or break a company. While all these traits obviously don’t guarantee success, they can potentially lead to it with enough hard work.
If you’re on the lookout for business opportunities for sale, you may want to consider franchise businesses as available entrepreneur opportunities. When entrepreneurs opt to franchise, they buy a license to sell or provide services under an established brand’s name. Franchisees can receive corporate support and an established business model to work with in return.
So, in the words of Steve Jobs: “Stay hungry. Stay foolish.”