There are many
issues that businesses face – from marketing to sales to technical, but the
worst of them is a leadership problem. When leadership is lacking, it affects
all aspects of the business and company culture. Good leadership, on the other
hand, can turn around a business and radically change and improve business
performance. A leader is, by definition, someone at the forefront of the
business, making the decisions that impact both the business and the employees.
Good leadership is a skill, and while many think they have it, the truth is
that most people are lacking in good leadership skills required to build and
grow a business. However, on the bright side, leadership skills can be learned
and improved upon through consistent effort.
Below are three
leadership traits that can hurt a business:
1. Lack of vision
for the future
CEOs and leaders
tend to have a general idea of where they seethe business heading. For
instance, they might have a goal of selling X products by the end of the year.
However, while these numbers might sound nice, if a leader isn’t able to break
down their vision into a more digestible format, then that vision will be hard
to translate into reality. This means having a breakdown of goals into
quarterly, monthly, weekly, and daily benchmarks, as well as concrete ideas of
how to achieve the vision.
Every leader should
ask themselves what they would like their business or team to look like and by
when? In addition, they should also be asking the ‘how’ and ‘what’ questions
that will allow them to build strategies to attain their vision.
2. Lack of
investment in the team
A key characteristic
of a well performing company is talented, well-informed, knowledgeable, and
motivated employees. However, it is foolish to expect everyone coming into your
team to have those skill sets and characteristics already instilled in them.
Employees are rarely going to have the same dedication and commitment to the
company as leaders and entrepreneurs. However, once leaders know and accept
this fact, they can do something about it.
The key is to hire
employees but transform them into team members. As a leader, it is your job to
make employees to feel like they are a part of the family and their
contribution is integral to the company’s success. A leader is also responsible
for investing time and resources into employees to ensure they are properly
trained, equipped, and engaged.
3. Lack of
Last but not least,
communication can make or break a business. A study conducted by Harvard Business
School concluded poor communication was the reason behind the downfall of a
number of large corporations such as British Petroleum, Nokia, and Thai
Airways. Bad communication usually occurs because either leaders don’t want to
hurt the feelings of their team members or leaders make assumptions about their
Webb notes, “As a leader, it is essential to be able to clearly communicate
your vision to your employees and have tough talks with them when necessary.
Clear, honest, and open communication leads to employees that trust and engage
with management, rather than fostering resentment.”