Saturday, April 17, 2021

Common mistakes business leaders make

Common Mistakes Business Leaders Make That Derail Their Success

Young leaders meeting in a board room. Photo credit:

A great leader motivates and inspires workers, paving the path towards business success. Insider has a list of some of the world's most famous business leaders, from Eric Yuan of Zoom to Alex Gorsky of Johnson & Johnson. Want to join the ranks of experts like these? You can! Top leaders aren't born — they're made. From compelling communication to effective collaboration, leadership skills are learnable. Unfortunately, many leaders resist change and derail their own success. Mr. Robertson’s Corner shares some mistakes leaders make that impede their growth.

Not embracing a leadership style

Leaning into your leadership style can boost your confidence. It also allows you to more easily pinpoint your strengths and weaknesses so you can figure out what to leverage — and where to improve. There are many leadership styles, including servant, democratic, autocratic, transformational, and more. Not sure what your leadership style is? Very Well Mind has a simple quiz you can take to figure it out. A leadership coach can help you better understand how to make the most out of your given style.

Refusing to commit to an organization

You may have a map for your career. Maybe you plan to put in X number of years in mid-level management before progressing to senior management and then advancing to the C-suite. Your "map" may also include switching companies. While planning is great, there is a drawback to always eyeing the next move: You fail to commit to your role, your company, and its culture. You won't be able to inspire your employees if you aren't leading by example and embracing the culture. Forbes confirms the significance of corporate culture, explaining that it improves brand identity and attracts better talent — in turn, driving company success.

Neglecting to adapt communication styles

Different people communicate differently. As a leader, you might expect others to adapt to your communication style. However, if you want to sway people and get them to do what you want, you're better off adapting yourself to their style. Fleximize explains that you have to know your audience and identify your objectives. You can then adapt as needed. This is even more critical in an increasingly remote workforce. Harvard Business Review stresses the significance of effective communication when you can't meet employees face-to-face.

Lacking emotional intelligence

Emotional intelligence is often underrated in the business world. The Corporate Finance Institute defines emotional quotient (EQ) as the ability to manage not only your emotions but also others'. Components of EQ include self-awareness, self-regulation, motivation, empathy, and social skills. Business News Daily goes further, saying that the self-awareness associated with EQ can help ensure leaders still come across as approachable, not arrogant. Arrogance is generally a turn-off and doesn't inspire others.

Failing to pursue self-improvement

With sufficient self-awareness, you can start to identify what areas of your leadership ability you can improve. You may find that you'd benefit from additional education, for example. An online business degree can give you valuable soft skills while also providing important credentials. Focus areas range from online accounting to business management and marketing. Constant self-improvement and continued learning are essential for long-term success.

As the above guide has hopefully made clear, great leaders all share one thing: They are open to change. As a leader, refusing growth opportunities is a surefire way to derail your success. Don't fall into this trap. Follow the above steps to get started.

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