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Transition from Small Business Owner to Leader

December 05, 2014

Whether you have a company of one or 100 employees – it’s undeniable that leadership can make a world of difference in how you and your company will fare in the coming years.

Leadership can make the difference between surviving and thriving. This is the first article in a six-part series to help you become a better leader.

Small business owners are entrepreneurs at their core, organizing a business venture and assuming the risk for it.

If you’ve made it past the one-year mark, that’s better than 50 percent of start-up business and if you’ve made it past year five, you’ve surpassed 90 percent of small businesses started. This is quite an accomplishment, and many owners use these milestones as opportunities to take a step back and assess what they want to do next. What is the next challenge?

Perhaps you’re looking at a new line of business or you want to grow market share. Maybe you’re physically expanding and want to open a new location or two. Or, maybe you’re perfectly happy with the situation you have and just want to improve your company culture or improve employee morale. One thing is for certain – you can’t do it alone.

You’re likely to have identified some of the keys to strategic growth including access to capital, loyal customers, and opportunity for capturing additional market share, among others. While these are more tangible items that can be put to paper and measured against target objectives, there is another less tangible asset that can make the difference between a business that’s simply stable and one that’s actually thriving: leadership.

Whether you have a company of one or 100 employees – it’s undeniable that leadership can make a world of difference in how you and your company will fare in the coming years. Many small business owners may not consider themselves leaders, but anyone can become a leader – they are made, not born.

To become a modern day leader in your business or your industry, there are four broad areas to focus on. Each will give you insights into what you need to know and how you can apply it to your own personal style.

They are:

  • Plan
  • Create a Vision and Share It
  • Empower Others
  • Lead Yourself

Next: We focus on how to plan.

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