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August 26, 2024

Leadership Skills for Entrepreneurs: How to Build and Sustain a Winning Team

Leadership Skills for Entrepreneurs: How to Build and Sustain a Winning Team

Building and sustaining a team that's on track for success is not always a given in business. There can be clashes of work styles, personalities, lifestyles, and everything in between, so, without good communication systems in place, it can be difficult to rally your employees to work together and perform at their best—which can cause issues for both your organization and career. Keep reading for our take on encouraging teamwork and becoming the best leader you can be.

Setting the Course

Setting the course for success with your team is essential, and as an entrepreneur, your ability to communicate a clear and motivating vision is key. If you fall behind, your team certainly will as well. A well-planned roadmap will guide your team toward a common goal. Take time to make sure every team member not only understands the company’s mission, values, and long-term goals but also feels a personal connection to them and can learn to align their individual work effort with the bigger objectives. Regularly share your vision through meetings, one-on-ones, and written updates, emphasizing how each person’s contributions are crucial to the bigger picture and the company’s overall success.

Maintaining Team Harmony

Conflict is natural in any team. We found that a study at Harvard suggested 91% of conflicts within a team are based on three main communication differences:

  • Unclear expectations

  • Unreasonable time constraints

  • Performance standards

How you handle these can definitely make or break your leadership. Conflict resolution involves addressing issues early, creating an open space for your team to communicate with each other, and finding a solution that satisfies all parties involved. Resolving conflicts swiftly and fairly can ensure that everyone remains focused on their goals. Establish clear communication channels and encourage a culture of feedback where team members feel comfortable voicing concerns.

Evaluating Your Current Skills

Self-evaluation is really important for effective leadership. Traditional leadership often suggests a more autocratic approach, where there can be a clear divide between leaders and team members. To avoid this, many successful leaders say taking ownership of their own self-development can make a big difference to their skill set. Conduct a self-evaluation to identify areas for improvement where things haven’t gone as planned, as well as to recognize the successful results you've achieved when managing your team. You will notice things that you previously overlooked, which is why this is such a key point.

Failure Forums

If you’ve never heard of them, Failure Forums are a way to normalize failure and turn it into a creative learning tool, creating a growth mindset in your team. To implement these, you can hold conversations where team members share recent failures and discuss what they learned from the situation and how it can be turned into a positive.

Pairing Tasks

Pairing tasks in a small business is highly beneficial for leadership development, teamwork, and sparking creativity. In these types of tasks, team members share knowledge, allowing less experienced members to learn quickly and network with other colleagues while also helping to problem-solve. Additionally, pairing helps develop leadership skills, as senior employees mentor juniors, and boosts accountability, as team members hold each other to higher standards. Overall, pairing tasks creates a more adaptable and cohesive team.

Conclusion

Building and sustaining a winning team as an entrepreneur takes both strategy and ethics. It starts with having a clear vision, communicating openly, and always looking for ways to improve. By setting a strong direction, handling conflicts constructively, and encouraging a culture where learning from mistakes is valued, you can create a team that works well together and achieves its goals. Leadership is about guiding your team to success while helping each person grow. With these approaches, you’ll lead a strong, motivated team that’s ready for any challenge.

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