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Entrepreneur Voices on Effective Leadership
The Staff of Entrepreneur Media, Inc.
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eBook - ePub
Entrepreneur Voices on Effective Leadership
The Staff of Entrepreneur Media, Inc.
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About This Book
With this leadership-focused edition of the Entrepreneur Voices series, the staff of Entrepreneur provides an exclusive compilation of editorial articles, advice from entrepreneurs, and reflections and self-assessments on various leadership styles and tactics. From defining your leadership style to learning how to motivate your team, reach your company's vision, this composition dissects the skills and strategies necessary to develop your leadership skills at every level.
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PART I
DEFINING LEADERSHIP
A leader can be defined as someone who leads people, a project, or a mission from one phase to anotherânot strictly for their own purpose but for the (perceived) benefit of others. Of course, thatâs just one of many definitions, and in this book, we focus on leadership of other people.
Since there are so many aspects of leadership, it has been defined by numerous people over the centuries. After all, there have been leaders of armies, ball clubs, space exploration, politics, protests, unions, and, of course, businesses. With leadership playing such a significant role in our world, itâs no wonder so many people have had something to say (or write) about it. In fact, the late Ralph Stogdill, Professor Emeritus at Ohio State University and known for his research and publications on leadership and organizations, said, âThere are almost as many definitions of leadership as there are persons who have attempted to define the concept.â
Here are some pertinent quotes that define just ten of the many facets of strong leadership:
1. On leading from within: âSuccessful leadership is leading with the heart, not just the head. [Such leaders] possess qualities like empathy, compassion and courage.â âBill George: Former CEO of Medtronics and Ethics Professor at Harvard Business School
2. On facing challenges: âThe ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.â âMartin Luther King Jr.
3. On gaining knowledge: âLeadership and learning are indispensable to each other.â âJohn F. Kennedy
4. On getting the most from others: âThe task of leadership is not to put greatness into people, but to elicit it, for the greatness is there already.â âJohn Buchan, Novelist, Historian and former Governor General of Canada
5. On inspiring others: âIf your actions inspire others to dream more, learn more, do more and become more, you are a leader.â âJohn Quincy Adams
6. On serving others: âPeople donât care how much you know until they know how much you care. âJohn C. Maxwell, leadership expert and founder of EQUI, and international leadership development organization
7. On keeping a low profile: âA leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: We did it ourselves.â âLao Tzu, Chinese philosopher and founder of Taosim
8. On moving forward: âThe task of the leader is to get his people from where they are to where they have not been.â âHenry Kissinger
9. On achievement: âLeadership is a process whereby an individual influences a group of individuals to achieve a common goal.â âPeter Northouse, Professor of communications and author of several leadership books
10. On understanding those you are leading: âHe who cannot be a good follower cannot be a good leader.â âAristotle
Of course, communication and patience are also cornerstones of leadership. And as you will read in this section, there are so many other ways to define a good leader. It should also be noted that there have always been, and still are, leaders who defy almost everything listed in the upcoming pages. They prey on weakness, fear, and even desperation in people, and preach âbetter daysâ ahead if you follow their lead, which is rigid, actually an agenda, and not in the best interest of those who choose to (or are forced to) follow. They can be powerful leaders, but they are not improving the well-being of their followers or employees. Some major companies have had such leaders and seen disastrous results. Unfortunately, as weâve seen throughout history, such leaders, in business or elsewhere, often attain some of their goals before losing their leadership positions. The point is, while we celebrate the positive potential of leadership in the upcoming pages, itâs worth noting that not all leaders are leading people in a positive direction. Fortunately, most are trying to.
CHAPTER 1
22 QUALITIES THAT MAKE A GREAT LEADER
Adam and Jordan Bornstein
Not all leaders are alike; in fact, they run the gamut from authoritative to leading by consensus. While they share the same title, they donât share the same leadership abilities or qualities, many of which are not necessarily âin the manual,â so to speak.
Much of leadership stems from the personality traits, plus the innate and learned behaviors that make up the individual. Generally speaking, these intangibles are hard to measure, such as confidence, passion, integrity, open-mindedness, and various other qualities that come from within each of us. These qualities put you in touch with yourself and, more significantly, with the people you will be leading. They allow you to have an impact on your followers. After all, if a leader has no impact on those being led, then, no matter how much leadership training they have had, they will not make a great leader.
Below are 22 qualities that make great leaders, gathered from various sources, including CEOs, authors, founders, a former governor, and others. Consider which qualities you possess and those you need to further develop.
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1. Focus. âItâs been said that leadership is making important but unpopular decisions. Thatâs certainly a partial truth, but I think it underscores the importance of focus. To be a good leader, you cannot major in minor things, and you must be less distracted than your competition. To get the few critical things done, you must develop incredible selective ignorance. Otherwise, the trivial will drown you.â âTim Ferriss, bestselling author, host of The Tim Ferriss Show, 2. Confidence. âA leader instills confidence and âfollowershipâ by having a clear vision, showing empathy and being a strong coach. As a female leader, to be recognized I feel I have to show up with swagger and assertiveness, yet always try to maintain my Southern upbringing, which underscores kindness and generosity. The two work well together in gaining respect.â âBarri Friedman Rafferty, partner and president, Ketchum Inc.
3. Transparency. âIâve never bought into the concept of âwearing the mask.â As a leader, the only way I know how to engender trust and buy-in from my team and with my colleagues is to be 100 percent authentically meâopen, sometimes flawed, but always passionate about our work. It has allowed me the freedom to be fully present and consistent. They know what theyâre getting at all times. No surprises.â âKeri Potts, senior director of communications, ESPN
4. Integrity. âOur employees are direct reflections of the values we embody as leaders. If weâre playing from a reactive and obsolete playbook of needing to be right instead of doing whatâs right, then we limit the full potential of our business and lose quality talent. If you focus on becoming authentic in all your interactions, that will rub off on your business and your culture, and the rest takes care of itself.â âGunnar Lovelace, co-CEO and cofounder, Thrive Market
5. Inspiration. âPeople always say Iâm a self-made man. But there is no such thing. Leaders arenât self-made; they are driven. I arrived in America with no money or any belongings besides my gym bag, but I canât say I came with nothing. Others gave me great inspiration and fantastic advice, and I was fueled by my beliefs and an internal drive and passion. Thatâs why Iâm always willing to offer motivationâto friends or strangers on Reddit. I know the power of inspiration, and if someone can stand on my shoulders to achieve greatness, Iâm more than willing to help them up.â âArnold Schwarzenegger, former governor of California
6. Passion. âYou must love what you do. In order to be truly successful at something, you must obsess over it and let it consume you. No matter how successful your business might become, you are never satisfied and constantly push to do something bigger, better, and greater. You lead by example, not because you feel like itâs what you should do, but because it is your way of life.â âJoe Perez, cofounder, Tastemade
7. Innovation. âIn any system with finite resources and infinite expansion of populationâlike your business, or like all of humanityâinnovation is essential for not only success but also survival. The innovators are our leaders. You cannot separate the two. Whether it is by thought, technology, or organization, innovation is our only hope to solve our challenges.â âAubrey Marcus, founder and CEO, Onnit
8. Patience. âPatience is really courage thatâs meant to test your commitment to your cause. The path to great things is always tough, but the best leaders understand when to abandon the cause and when to stay the course. If your vision is bold enough, there will be hundreds of reasons why it âcanât be doneâ and plenty of doubters. A lot of things have to come togetherâexternal markets, competition, financing, consumer demand, and always a little luckâto pull off something big.â âDan Brian, COO, TV Time
9. Stoicism. âItâs inevitable: Weâre going to find ourselves in some real shit situations, whether theyâre costly mistakes, unexpected failures, or unscrupulous enemies. Stoicism is, at its core, accepting and anticipating this in advance so that you donât freak out, react emotionally, and aggravate things further. Train our minds, consider the worst-case scenarios, and regulate our unhelpful instinctual responsesâthatâs how we make sure shit situations donât turn into fatal resolutions.â âRyan Holiday, author of The Obstacle Is the Way, and former director of marketing, American Apparel
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10. Wonkiness. âUnderstanding the underlying numbers is the best thing Iâve done for my business. As we have a subscription-based service, the biggest impact on our bottom line was to decrease our churn rate. Being able to nudge that number from 6 percent to 4 percent meant a 50 percent increase in the average customerâs lifetime value. We would not have known to focus on this metric without being able to accurately analyze our data.â âSol Orwell, director of strategy, 11. Authenticity. âItâs true that imitation is one of the greatest form...