Leadership Lessons From Millionaire Business Owners

You may have the expertise, education and skills, but nothing can prepare you for becoming a business leader, particularly growing your own business.

Provide employees with training and set expectations

In his book “Zingerman’s Guide to Good Leading, Part 4: A Lapsed Anarchist’s Approach to the Power of Beliefs in Business,” Ari Weinzweig, CEO and cofounder of Zingerman’s gourmet food company, writes that, “Clear expectations and training tools are all about a better future.”

Ari adds, Small training success build confidence. People are more hopeful when they know what’s expected of them and feel they have the tools they need to do the work at hand.”

Don’t stay stagnant – constantly evolve

Bill Gates once said, “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. Don’t let yourself be lulled into inaction.”

Even after Microsoft became an industry leader and was earning billions of dollars in revenue, Gates wanted the company and his team to continue to evolve and diversify their products so that they would remain innovative and relevant, as opposed to being static.

Less talking and more listening

“Leaders who listen are able to create trustworthy relationships that are transparent and breed loyalty. You know the leaders who have their employees’ best interests at heart because they truly listen to them,” writes Glenn Llopis, founder of the Glenn Llopis Group.

“As a leader, it’s difficult to really know what your employees are thinking about, what’s troubling them or how to help them get out of a performance slump — unless you take the time listen to them.” Llopis adds, “Listening goes well beyond being quiet and giving someone your full attention.

It requires you to be aware of body language, facial expressions, mood, and natural behavioural tendencies. Listening should be a full-time job when you consider the uncertainty embedded in the workplace and the on-going changes taking place.”

Encouraging continuous learning

“Learning is the minimum requirement for success in your field,” writes Brian Tracy. “Information and knowledge on everything is increasing every day. This means that your knowledge must also increase to keep up.” The best leaders encourage their employees to read, attend workshops, and conferences so that they “can get ahead in every aspect of” their lives.

Last but not least – plan for fun!

Barbara Corcoran, Founder of The Corcoran Group and one of the investors on “Shark Tank,” says, “I think drinking together, having fun, having days off doing stupid things, dressing in ridiculous costumes, whatever you mandate as a company culture, what happens is everyone really likes each other and you create a family.”

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