Being an entrepreneur is not just about finding the right idea. Once you have the idea, developing yourself as a Leader becomes very important. You have read about many entrepreneurs being pushed away from the CEO role to a lesser role because they could not fit the investors bill or the company is unable to grow. Along with building your product or service, you should develop yourself and I highly recommend you getting yourself a Leadership Coach. All CEO’s have coach’s (might not be public information, but they do). Today, many companies are also bringing in coach’s to help mould their next level leaders.
Kinds of Leadership Styles
The most common leadership you will see around you. Leader feels he knows everything and anything and he does not believe in getting support or hearing to people around him.
A leader who is hands-off. Does not provide the required coaching to his team and is predominantly hands-off which gives him time to focus on other things. However, when things don’t work, thats when problems arise.
This leadership style is suited when you have people with the right skills in responsible positions.
A combination of Autocratic and Laissez-Faire styles. These leaders work with their teams and have a 2 way communication with respect to the functioning.
An efficient leadership style, provided the right people are in the right positions.
As the name says, its transactional. These leaders reward people who perform or be a “Yes Boss” kind. If its the first, then its good, people who are worthy of the reward are rewarded and hence business flourishes. But if its the latter, then it’s a concern, because wrong people get rewarded thus demoralising the efficient ones.
A transformation leaders consistently improve himself and also pushes his team and employees to push themselves. This is a very good approach, but at times employees might feel over burdened and performance gets effected.
A Servant style leader focus’s on helping his employees achieve their goals. This is time taking and might burn out the leader to think strategically.
One of the best styles of leadership. The Leader identifies the key strengths and weaknesses of his team or employees and works with them to bring out the best in them thereby ensuring the success of the business.
So, what is your style of Leadership?