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Leadership Styles in Entrepreneurs

With the start of the New Year, many entrepreneurs want to work on themselves and their businesses even more than the previous year.  One way they do this is by learning their value to ensure future success in their company.  Some business owners define themselves as a certain type of leader.  But, when they take a leadership assessment, they often realize they are a different type of leader altogether.  Knowing your leadership style can make a huge different in your company’s success. Here are a few leadership styles for your review:
  1. Directive – an approach that relies on “orders” rather than providing direction. This is not the best approach when managing people.
  2. Visionary – an approach that relies on context to convey a bigger picture to project the future.  This is great if the leader can clearly explain the vision of the company and demonstrate actions to align with that vision.
  3. Affiliative – an approach that focuses on people and relationships, creating trust and harmony within the business.  This style gives attention to individual needs, not making their results a priority.
  4. Participative – an approach that generates new ideas and solutions from a team. This style believes that teams make better decisions than individuals do.
  5. Pacesetting – an approach of leading by example.  This style has high performance standards and are reluctant to delegate due to possible unsatisfactory results from others.
  6. Coaching – an approach that identifies strengths and weaknesses, with the end goal of helping individuals meet their professional goals.  This is usually the more effective leadership style in the long term.
Remember, leadership is a process.  It requires feedback from all involved, which helps the leader learn more about themselves and move forward toward success. PJ's New Pic (smaller)ActionCoach-logo
If you would like further information or you have any questions about this blog, you can email me at pjweiland@actioncoach.com or call 847-739-3079.
For your complimentary business coaching session visit, www.actioncoach.com/pjweiland. Build a Business image 3 (small title) To register for our complimentary workshop, How to Build a Business you can Sell, visit www.actioncoach.com/pjweiland. Let’s work together to help your business grow.

The Power of Planning

As many of you know, Business Coaches like to ask a lot of questions. So as we approach the title of this month’s article for Keys to Business Success, I will be asking some questions for you to think about. What determines the success or failure of a business? How many of you believe that the reason that the businesses in our community are closing is because of the economy? How many of those businesses planned for this economic downturn? How many of those businesses had a business plan? How many of those businesses had a budget and volume projections? How many of those businesses depended on the housing segment for a high percentage of their revenue? A recent US Department of Commerce study found that overall only 6% of US business owners said they had a business plan. (My hat off to you if you are in that group that plans!) However, since only 4% of new businesses in the US survive over 10 years, wouldn’t it be great to know what they do differently? According to the Department of Commerce, 80 % of this so called 4% club of business owners said they have a business plan and regularly follow it. The first step of planning is to believe that it will make a difference in your time management. We teach our clients to first start with a realistic daily calendar that has ‘default’ areas to work on various important but not urgent tasks. What are the three core tasks that you could complete today that would drive your business forward? What is the highest and best use of your personal time? Are you still picking up supplies from the office supply store? What is it that only you can accomplish? Do you still believe that there are many things that only you can do? What is it that you do really well and that would make a difference in your business right now? If you are the craftsman or relationship salesperson of your business get out there and do it! Having a plan and executing that plan and measuring the results is the single biggest difference in highly successful businesses. Studies have shown that by having a plan it is easier to overcome procrastination. One minute of planning will save you up to 10 minutes in execution of the plan. Imagine what it would feel like if each day when you arrive at work, you would know exactly what you were supposed to do? So if you spent a minimum of four hours to work on your business say in a Quarterly Planning session with a business professional, you could save 2,400 minutes of your life. That’s 160 hours per year! What would you do with that time away from your business? PJ's New Pic (smaller)ActionCoach-logo
If you would like further information or you have any questions about this blog, you can email me at pjweiland@actioncoach.com or call 847-739-3079.
For your complimentary business coaching session visit, www.actioncoach.com/pjweiland. Build a Business image 3 (small title) To register for our complimentary workshop, How to Build a Business you can Sell, visit www.actioncoach.com/pjweiland. Let’s work together to help your business grow.