6 leadership qualities of an entrepreneur that you must know
Leadership and entrepreneurship go hand in hand; as a company’s success depends upon the founder’s ability to lead a bunch of employees to achieve a common goal. Leading people is more like an art, where you have to adjust your thinking and decision making skills as per the matter in front of you. Thus, in order to help you understand the leadership aspect of entrepreneurship, Bharath Srivathsa, Founder and CEO of Lanasol Energy Solutions Pvt. Ltd., has shared six leadership qualities of an entrepreneur.
1. Valuing the views of employees
One of the important leadership qualities of an entrepreneur is valuing the opinions of each and every employee and taking their input into consideration before making any decision. However, it’s also necessary that the entrepreneur must have the spine to take bold decisions as per the need of circumstances.
2. Treating employees as a family member
Many people believe that a leader must be bossy, but in reality, it worsens the relationship with employees. An entrepreneur is the face of the company, but he/she must acknowledge that employees work, and dedication takes it forward. Thus, an entrepreneur with good leadership qualities considers and treat his staff as his family, as this improves the efficiency of the company.
3. Tolerance towards accepting own mistake
A common mistake that entrepreneurs commit is to believe that they are superior to their peers or juniors. But, the entrepreneur leading the company must take inputs in a positive way and accept flaws (if any) in his/her own thoughts, even if the feedback is coming from the junior most person. In India, bosses or leaders have created a fear in the mind of their followers such that they are scared to come out with their opinion and this leads to many problems.
4. Optimistic attitude
If an entrepreneur doesn’t have a positive mindset, then he/she won’t be called as a leader. A leader must be able to think positive; else it disrupts the entire atmosphere at the office. It is the leader’s mindset that translates the entire company’s mindset. If the leader himself is not optimistic, then it is going to turn the entire direction of the company’s growth.
Also, an entrepreneur leading the company must have the strongest of mindsets to absorb the pressure created in tough times. Because tough times has the potential to provide the best learning opportunities, and the leader with positive mindset motivate others by passing the positive things that have cropped out. In simple words, if the captain of the ship sinks in pressure, then the entire ship sinks along with him.
5. Honesty and ethical behaviour
Well, honesty and ethical behaviour is more or less a rule for an excellent leader. If an entrepreneur leading a company is not honest or ethical, then this behaviour trickles down at all level, and ultimately the company become unethical or dishonest.
6. Sharing success with employees
I would say success should not get to the head of a leader. My advice to an entrepreneur leading a startup is when success comes by your side, pay rewards to the staff right away, instead of waiting for the company to get established and make money. Small rewards to the staff directly affect the efficiency of the company.
So, which leadership quality did you like the most? Share your thoughts below.
Bharath is a successful entrepreneur, who through Lanasol Energy Solution Pvt. Ltd. is helping the industries choose the low-cost solar energy solutions over conventional thermal energy sources. Lanasol has patented technology, and it’s bringing a positive change in the renewable energy sector of India.