Mergers & Acquisitions Advisory

A Neumann & Associates, LLC

July 24, 2018

Important Aspects of Leadership Which You Will Need To Define

By Achim Neumann

Given the recent boom in entrepreneurship, it is easy to see why so many men and women around the world have looked at this as a career choice. What many seem to miss the point of however, is that while entrepreneurs may be smart thinking pioneers, they are also great leaders and to succeed in this industry, your leadership will be what is called in to question over any other aspect of your business dealings. You must learn to define who you are as a leader in order for those under your direction to understand what you are looking for.

What Kind of Leader Are You?

From the outset you must define what kind of leader you want to be, and once you have decided, you need to hone your craft and stay consistent in your leadership style. This is not to say that you will be the same person day-in-day-out, we are all human after all, but you must have a style which suits you and which your staff understand. Will you be a draconian leader? Person of the people? Slightly wacky? Or perhaps you’ll look to be firm and fair, whatever you decide is up to you but pick early and work on making the style your own.

Playing to Your Strengths

A great leader’s ability to lead comes down to how well they play to their strengths, as well as understanding what their weaknesses are. In understanding and clearly defining your strengths and weaknesses, you can tweak how you manage based upon these. For example, when you understand where your weaknesses lie, you can use this to give confidence to those who are stronger in those areas, thus engaging your team and giving them greater responsibility. There is nothing wrong with weaknesses, unless you aren’t aware of them.

Expectations

If you do have the dream of being an entrepreneur, then one of the keys to your success will be your ability as a leader to not only share your vision with your team, but do so in such a way that they buy into your vision. Staff must know what to expect from their leader, and you must have lofty expectations from your team, being able to deliver the message with clarity, enthusiasm and passion will be curcial to achieving this relationship.

Troubleshooting

As a leader you will of course run into negativity and issues within the workplace, and you must define how you will go about dealing with such problems. Furthermore, you must also demonstrate consistency in the way that you deal with problems, in order to give your staff the level of expectation that they deserve. Being able to define this may not happen until the first problem presents itself, from there on out, you must deliver consistency and follow a certain pattern when troubleshooting in the workplace.

A great business mind and a creative thought process is one thing, but without leadership abilities you will struggle to make it as an entrepreneur, define who you are and go ahead and lead.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

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