Do you ever wonder why certain businesses fail while similar businesses thrive in the same economic climate? There are several commonalities shared between strategic and successful business owners
. The top three traits of successful leaders are centered on the internal operation of their business, analyzing current business practices and carving out an untapped niche in the market. Learn the
top qualities of successful leaders and how their businesses thrive. In this blog, I am going to examine trait number one.
1. Value your team.
One of the top three traits of successful leaders is a sense of community within their business. Successful business owners understand that
employees (team members) must find a sense of happiness and connectedness within their organization in order to take pride in their efforts. Value your team and be sure to voice it, and you will watch them walk the extra mile for you and your business. Valuing your team consists of:
- Offering competitive compensation for their dedication
- Treating them with respect
- Recognizing them individually as well as a team
- Rewarding them when they meet key goals
- Providing a fun, energetic work environment
- Increasing responsibility can increase a sense of ownership and value to the organization
The team members that are doing their best to see your company succeed should be given all of the above and more. However, it’s also imperative to do your due diligence
in weeding out the toxic team members. It will serve you and your business best to eliminate team members that pull the energy of the team down. Team members who aren’t adding value to your business should be replaced with dedicated and energetic members.
Evaluate your compensation and benefits package for your team members
. If they are virtual assistants or temporary help, think of ways you could create an incentive-based promotion (even if it’s seasonal or temporary). In addition, you could ask them what they most need and see if there is a way for you to provide it.
Keep an eye out for traits two and three in upcoming blogs.