As your business grows, the list of responsibilities you’re accountable for grows with it. From finances and inventory control to marketing and customer support, entrepreneurs need to wear many hats throughout the day. But managing all of these tasks alone is no way forward. Eventually, you need to utilise your capital and start onboarding new staff.

This not only takes a major load off your back; it also allows you to assign what doesn’t utilise your core strengths to people who can perform a better job. But in order for this to happen successfully, well-developed leadership skills are imperative.

Having them can save you a great deal of time, money and trouble otherwise spent on rehiring and retraining for the same positions. In addition, you can create a workforce with a culture where everyone strives to do their best. Not sure how? Read on to learn how you can become a better leader in your business.

Lead by Example

Whether in a bid to get your attention for a promotion or to help you see you as you are, your employees will naturally mirror your behaviour. That alone is good enough reason to focus on leading by example. Another reason is to avoid being a hypocrite, which can make you unlikeable. Leading through fear simply does not work in this day and age.

Being admired and respected is the better option. You should do what you expect everyone else to do. Practice what you preach and you’ll earn your team’s loyalty and respect. Soon enough they’ll begin to follow your example, thus contributing to healthier relationships.

Give Credit

Perhaps you’ve experienced a boss in the past who took all the credit for the team’s hard work. They, of course, are not successful leaders. You need to be team-oriented and willing to share the glory when a goal is reached or a project completed. Admitting that it was a joint effort will earn your team’s admiration and inspire them to continue achieving.

Keep Learning

For the sake of both your professional development and the entire company, it’s important to avoid letting your knowledge become outdated, which can detract from its practical application. Today’s business environment is changing more rapidly than ever, which means you need to stay on top of the latest trends and techniques.

Strive to learn more about your industry, your competitors, your team and the economy as a whole. Just as important is constantly working on your knowledge and skills that relate to your responsibilities in the business. Perhaps you can participate in a management course or take your expertise even further with another degree.

These days, you needn’t go back to university to make this happen. You can simply learn online while still having sufficient time to run your business. This post provides information on a business management degree, which provides valuable knowledge on topics such as marketing, accounting, organisational behaviour, and operations management.

Communicate Effectively

The most successful business people are often master communicators. Knowing how to effectively express your ideas and not only persuade, but also inspire, is key to becoming a better leader. No less important is the ability to listen. That means truly listening and keeping an open mind to feedback, which can help you discover valuable insights.

Exude Confidence

This is perhaps the most difficult characteristic to develop, but no less important than the rest. Some people are naturally confident, but those who find themselves to be more agreeable can improve by becoming more assertive. Much of this comes from having trust in yourself and feeling secure about who you are.

You shouldn’t feel the need for attention and acceptance. Speak through your work to show that you have the competence and skills of someone who can lead the team towards its common goal. By showing confidence, your team will have more trust in your abilities and a stronger belief in your vision.

Keep It Short

Meetings that go on for hours on end are no more. Your team values their time and will appreciate someone who doesn’t waste it. Find ways to communicate with your team outside of the meeting room to reduce how long they take. At the same time, allow your team to adopt strategies that help them work at their most efficient pace.

Don’t force anyone to stick to outdated methods of doing things if they’re able to do it better another way. This could even mean providing remote work opportunities, which is a considerable option these days. The more you show respect for others’ time, the greater their effort will be to meet your goals – and the quicker you’ll meet them.

Take Responsibility

One of the worst characteristics to have is the tendency to play the blame game whenever things go wrong. Rather you should take responsibility, accepting your role in the actions of your team and their consequences. This is another way to gain trust and respect. It fosters a culture where mistakes are taken as lessons and opportunities to improve.

Show Interest

Employees are fonder of a manager who works alongside them instead of just sitting in their private office the whole day. Be sure to invest some time not only in showing an interest in what everyone else is doing, but also getting your hands dirty and offering assistance where possible. This shows your team that you value their work.

It also helps to show interest in them as people. Perhaps someone has a suggestion to improve the workplace or a certain process. Take these with an open mind and thoroughly consider any feedback that is sent your way. Your team shouldn’t feel like robots. That said, remember to avoid micromanaging and give your team some freedom as well.

There’s clearly a lot more to being an effective leader than it seems. It will take time to fully adopt all of these methods and incorporate them into your business. But doing so will go a long way in helping you reach greater heights while fostering healthy relationships with everyone in the workplace. So, don’t hesitate to make the effort.