Principles for leaders in business

Every person in a leadership position has a unique approach to how they lead. Over many years, certain key leadership principles have stood out for me as being incredibly important on my own journey. These are my 5 personal principles and hopefully they will be beneficial to you and your business. Leaders should never stop learning.

1. You need rules, in order to break them.

‘Rules’ in business are the foundation on which successful companies are built. These efficient systems, good governance and clearly defined structures provide the stability and consistency that enables you to run a business day to day. But they also equally give you the freedom to challenge the status quo. Without a strong foundation it is very hard to innovate and disrupt the market. Remarkable breakthroughs often emerge when bold entrepreneurs and visionary leaders have set up a strong foundation and feel empowered to step outside of conventional boundaries. Often, ‘Breaking the rules’ will lead to the creation of revolutionary products and services that redefine your business and have the potential to reshape industries.

2. Develop your people as much as your strategy.  

The success of any business hinges not only on a well-crafted strategy, but is also dependent on the development of its people. While a solid strategy sets the direction and objectives, it is your team who execute and drive those strategies forward. Investing in your team is key to unlocking their full potential and fosters a culture of innovation and excellence. A team that continues to learn together and who feel part of the growth of a business, are motivated to tackle challenges and find creative solutions. Don’t underestimate the importance in putting equal effort into your strategy and your team. It is your team that will be a driving force in your business and invested in its success.

3. Be prepared to fail.

Fear can be a formidable obstacle that inhibits growth and stifles innovation. Fear of failure in business, can prevent entrepreneurs and leaders from taking calculated risks, impeding progress and preventing you from recognizing valuable opportunities. It can lead to missed chances for your growth and learning. This doesn’t mean throwing caution to the wind and making reckless decisions, but rather it is about creating a culture that encourages creativity, that is open to new things and excited by interesting ideas. Give your team the permission to try new things and to pivot if they don’t work out as planned. You won’t always get it right, but you if you embrace a growth mindset and accept that sometimes you will fail, you can create a powerful culture for bold ground breaking innovations.

4. Believe in something more than just work.

It is so important to believe in something more profound than work alone. This serves as a vital anchor in the fast paced and demanding world of business. As a leader, having a passion or purpose beyond the confines of your professional life provides a sense of grounding and perspective that can truly be transformative. Engaging in things outside of work, whether it is philanthropic or personal wellbeing will help leaders find balance, recharge, and maintain a broader perspective on life. This holistic approach to values driven leadership instils a sense of authenticity that will inspire your team. By nurturing a belief in something greater, you can lead with more empathy and wisdom creating a positive and empowered work environment.  

5. You can’t do everything yourself.

As a leader recognizing that you can’t do everything yourself is a fundamental concept that leads to more effective and successful leadership. You need to have trust in the team you appointed and empower them to take initiative and make decisions. Focus on making sure you have a leadership team that is aligned to your vision and culture, and give them the confidence to use their unique talents to assist you in building a successful business. Don’t walk away from the small things that make your business unique but put your energy into strategy and high-level decision making.

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