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How Great Leadership Approaches Empower Entrepreneurs To Develop A Successful Business?

Leaders set paths, build inspirational ideas, and set an example for their team

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“Leadership is hard to define and good leadership even harder. But if you can get people to follow you to the ends of the earth, you are a great leader”. This leadership thought by Indra Nooyi inspires me every single day in my entrepreneurial journey. 

Definition of the term “Leadership” varies from person to person based on their understanding, strengths, experience and networking. In simple terms, it is the ability to encourage a group of people to achieve turning an idea into reality.

Leadership is the heart of entrepreneurship. An entrepreneur is a master-mind idea leader who executes innovative ideas and processes to achieve goals& visions through his team. To be a successful entrepreneur one has to go through a lot of hardships -One needs to step out from their comfort zone, take initiatives and carry on activities to achieve success. 

A successful leader is one who does the right things at right time as well as encourages his/her team to follow the same. Leaders set paths, build inspirational ideas, and set an example for their team. Entrepreneurs need a variety of skills and proficiencies to take forward their enterprise. It is true that leadership and entrepreneurship when gelled up with the right approach, can go to immensely benefit any business. Productive leadership exhibits confidence and yields a positive work environment.         

Some key points are common to the uniqueness of every leader, the others being situational, and it is up to the entrepreneur to recognize a suitable and effective approach which suits the requirements of his team and business. Here are the common leadership traits that every entrepreneur needs to develop to be a successful and effective leader.

Confidence: Confidence is a deciding aspect for an entrepreneur and the aptitude to effectively lead the organization. Like any other skill, confidence must be cultivated at a very early phase. Being the founder of an organization, one goes through a roller coaster. Hence, it is very easy to become discouraged, frustrated and bitter if there is lack of confidence. It helps them focus completely to take their work to next level by eliminating any limitations or complications in their paths. Cultivating this skill will never discourage them in their low phase, but the entrepreneur will be always ready with a “Plan B” to tackle the hurdles. 

Communication: Entrepreneurs should master the skill of communication to excel in their field, be it a verbal or non-verbal communication. One’s possibility to be a successful entrepreneur/leader is determined by his/her ability to communicate effectively. Leaders are the ones who represent their company to their investors, employees, clients etc. Entrepreneurs must be great speakers and excellent listeners to be effective and efficient at every level. Brilliant communication in business helps one to grow as an entrepreneur and as an organizational head.

Innovation: Innovation and entrepreneurship are vital components for the success of the organization. Innovation can be termed as the key driver for the growth. Both these aspects are critical for the business to compete and flourish globally. Innovation provides uniqueness and helps to stand out among the competitors. 

Adaptability: Adaptability is a valuable skill required for entrepreneurs/leaders as it helps them to learn from the experiences. Adaptive companies can experiment and adapt and evolve for more easily in this consistently changing environment determining higher growth for the organization. 

In addition, leadership is situational and evolving too. Entrepreneurs would do well to recognize the need and the phase of their businesses as well as the potential of their team to adopt a conducive leadership approach appropriate at a given time.  

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.

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Chiranjiv Patel

Chiranjiv Patel is the Managing Director and the Vice Chairman of P. C. Snehal Group, which is one of the leading construction and engineering business groups. Patel serves on various boards and is Council Member (Gujarat) & Chairman (Membership Committee – Gujarat) – FICCI (Federation of Indian Chambers of Commerce & Industry). He is the founding member of the Entrepreneurs’ Organization’s Gujarat chapter, which currently touches the lives of 49 entrepreneurs in Gujarat.

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