Large corporations are obsessed with leadership because they know value of it. They put their leaders through constant leadership development programmes, meetings to build leadership.
Unfortunately, the small businesses do not talk about leadership because they are carried away with everyday activities and operations all the time. It is important for them to understand and devote time on build leadership to take their businesses bigger. Small business should put aside a part of their budget for mentors, consultants and trainers.
However, currently they are looking these things once they come across some serious problem. They should consider it as part of their operation costs. They should have great mentors, board of advisors around them for a better growth, said Kane Minkus, co-founder of the Industry Rockstar System, USA and a multimillion dollar entrepreneur, who was in the City with Jeff Slayter to give his inspirational talk on “Transformational Leadership & Inspirational Entrepreneurship”.
The key thing that small companies should primarily focus is on sales and marketing but should also seriously look at leadership once they reach size of $1 million.
Leadership must become key conversation during the phase of $1-5 million size. These are very specific inflection points where the business has to move from sales and marketing focus to leadership focus. The focus has to move structural and scalability building after $5 million, he said.
Talking about how leadership can affect a company, Kane said, entrepreneurship is all about leadership and businesses rise and fall because of it. Every company is a direct reflection of the CEO which means the leader’s beliefs, mindset, capabilities, identity, behaviour and the environment in which he exist will be directly reflected in the business.
Large corporations may have group of leaders at various levels where as small organisations may have one leader or founder. If a person at any position is not confident about his leadership capabilities that department will suffer in the company.
Leadership is amorphous and is very concrete. If things are not working, it is the fault of leadership. Teams, products and employees don’t fail but leaders do. The level of accountability the leader is willing to take is directly proportion to how successful the business will be.
Leadership resides in five areas such as vision, communication, accountability, power to influence and building sustainability in the company. Many doubt whether leadership can be cultivated. Yes, it can. It is absolutely necessary to take things out of way which are blocking to become a leader. It is important people should connect to their own natural charisma. The world is accepting leaders as they are and the authenticity sells.
The business world is not expecting one to become a Gandhi but to be oneself and get in touch with natural leadership, he added.