Work Matters! Entrepreneurial Leadership

Successful entrepreneurs, at core are leaders and "people builders". So, what can we learn from them?

If you speak to anyone who has successfully navigated the complexities of starting and running a business from scratch, they will tell you that their main task was to organise and motivate their team. Entrepreneurial leadership requires that a group of people work towards a common objective through innovation, risk optimisation, and being able to identify opportunities, whilst creating and managing a dynamic work environment.

Quite simply put, the old-fashioned and traditional corporate mindset focuses on systems, processes and cultivating obedient foot-soldiers. The modern entrepreneurial mindset on the other hand is far more risk oriented, innovation driven, and allows for individuality to flourish.

I am distilling the most common traits that entrepreneurial leaders possess below.

Foremost is their ability to communicate clearly and concisely.

The modern leader needs to be able to articulate their ideas and plans excellently to ensure their team buys in to common goals. Entrepreneurs encourage constant communication between departments and across all levels. They never stifle speech. There is no such thing as "towing the party-line". These leaders avoid ambiguities by encouraging openness and inclusivity.

Adopting the entrepreneurial communication modality will allow you to avoid conflict and misunderstanding, which are usually the result of poor communication mastery. So, begin with this.

A successful entrepreneurial leader has clear vision.

They know exactly where they are headed to, and in general know how to get there. But more importantly, they can communicate this vision to their team. And, they can engage and inspire their people to work towards making that vision a reality.

Being constantly supportive is the next thing an entrepreneurial leader does well.

If you understand the importance of initiative and reactiveness, you will know that you must go the extra mile for your team to provide all the support they need to achieve these common goals. You must refrain from penalising employees when they take a calculated risk that misfires.

Instead, entrepreneurial leadership requires you to embrace failure and learn from your collective mistakes. Get together with your team when something fails, and analyse what went wrong. Then work with them in a nurturing fashion to correct mistakes.

Cultivate unshakable self-belief.

If, as a leader, you are comfortable with yourself, and possess boundless belief and confidence in yourself, you will encourage your team to experiment and have the audacity to be willing to try new techniques and methods. This means accepting that at times, failure is inevitable. These fluctuations only serve to strengthen you and ultimately, increase self-assuredness.

Remember to share all successes.

Old school leaders like to bask in their own glory. Modern entrepreneurial leaders are vested in results, and truly comprehend that success is always a team effort. Every small victory is celebrated and feted collectively. And such leaders never leave anyone behind, but rather, reward work in progress, i.e., even team members who aren't yet successful get encouraged.

Be involved and don't bother with your own "ivory tower".

Some say it is lonely at the top. Well, only if you choose to act like that. The new age entrepreneurial leader doesn't cocoon themselves in their office. You will find them on the shop or factory floor, or in my case, in the kitchen with my chefs.

Entrepreneurs realise the essential value of spending time with their team members and genuinely interact with them. This will give you valuable insights into your team's work and personal challenges.

Atmosphere building becomes vital for entrepreneurial leaders.

If you can accept that adults are self-directed learners, and often act on what they feel, then you realise a conducive atmosphere for growth is crucial. Entrepreneurs have a deep understanding of the importance of their people's contribution towards organisational success. Therefore, they encourage everyone to share ideas, grow, and thrive collectively.

They will enthusiastically pursue opinions from their team, and become a solution partner for any problems that occur. The entrepreneurial leader rewards their team when opinions are forthcoming rather just bleating out commands.

Entrepreneurial leaders are honest to their team.

At the end of the day, your team works with you and has intuitions about the organisation. Successful entrepreneurial leaders are honest and are able to quickly win the trust of their team. Remind yourself that people always respect leaders who are genuine with success and failure, and consequently can accept both positive and negative feedback.

Persevere and toughen up. In tough times, the entrepreneurial leader perseveres. True entrepreneurs simply don't quit, they keep going till they have breakthrough moments.

And finally, be a life-long learner.

Entrepreneurial leaders invest significantly in their own learning, and never have a problem to create and also fund their team members who want to learn. In fact, through their example of constantly being interested in upgrading their knowledge through active learning, traveling and being open to new ideas, they also create a learning environment in their organisation.

The ability to effectively lead is a decisive factor in the success, or lack thereof, in any business. By understanding and practicing entrepreneurial leadership, you maximize your chances of success.