Driving these actions are some basic principles that entrepreneurial leaders, such as Airbnb CEO Brain Chesky and LinkedIn CEO Jeff Weiner, seem to have learned early. These have helped them build trust and confidence among team members, and effectively sell their message to partners, investors, vendors and customers.
If you want to be like them, it’s time to take a hard look in the mirror to see how many of these actions already show in your persona, and which need a bit more of your focus and learning:
- Ability to communicate clearly where you are going and why. This requires that you first know who you are and what you stand for and have a vision for change. Then you need to be willing to communicate that vision to everyone around you. People won’t follow you if they have no idea where you are headed and why it’s good for them as well.
- Feels a passion and commitment to the cause behind your business. This conviction is what motivates everyone around you to their best efforts, and keeps them going in hard times as well as good. Building a business is harder than it looks. Seth Godin said that “the average overnight success takes six years,” and he is an optimist.
- Can demonstrate domain expertise and experience. In any business domain, there is no substitute for skills acquired by personal experience to supplement any academic training and the Internet. You have to lead by example, setting a personal standard for competence for all to follow if you intend to lead your competitors and customers.
- Constantly strengthening your network of relationships. No entrepreneur can build a business alone. Your network of connections needs to grow with you and your business. That only happens if you take an active role in your community and relevant business associations with like-minded people. Make an honest effort to help others.
- Willingness to make timely decisions and take action. Remember that a good decision made early will more likely save your business than a better decision made later. In general, any decision is better than no decision. Smart entrepreneurs take reasonable time to consider alternatives, and then move forward, never looking back.
- Practices self-discipline and calm predictability. People don’t like to follow a leader who is unpredictable, inconsistent and prone to daily changes in direction. Authentic leaders are willing to open up and establish a connection with everyone around them. They build trusting relationships that result in loyalty and commitment from others.
- Encourages innovation and out-of-the-box thinking. In business, this means fostering a mindset of creativity, risk-taking and continuous improvement. Don’t wait for competitors to force the need for better products, lower prices and better customer service. Reward failures as well as successes if the result is a lesson that advances the company.
- Allocates adequate resources to overcome constraints. Hoping for good luck and applying pressure is not leadership. Being able and willing to size and allocate the resources to win the small battles will ultimately win the war. This means hiring the right people, providing training and tools, and improving systems to overcome challenges.
- Incents business growth and people's well-being. As a role model, you must continuously upgrade your own skills, be alert for new developments and hone your listening ability. It means rewarding team member growth, no punishment for failures and opportunities for success. This applies to suppliers and business partners as well.
- Always accepts responsibility for business actions and results. Entrepreneur leaders don’t need excuses, like a down economy, bad timing or demonic competitors. Every company and every one of us makes mistakes, which are a normal consequence of tackling new business challenges and unknowns.