While successful entrepreneurs tend to share some basic characteristics - such as being self-motivated, confident, or determined - not all are natural-born leaders. For many, the idea of managing a company and placating board members is rather daunting, as they would rather focus on the unique service or product they've created.
However, that does not mean these entrepreneurs are incapable of developing a leadership panache - it just needs to be harnessed. Here are some basic tips for entrepreneurs who have been thrown into a leadership position for the first time.
Differentiate between raw data and raw emotions
Concrete information should inform top business decisions and strategies, but it is less relevant when it comes to motivating people. To lead your subordinates, focus instead on the emotional transaction.
"Make decisions based on data, but lead based on feelings and emotions," writes Jeff Haden for Inc. magazine. "Criticize an employee in a group setting and eventually he'll appear to get over it  but inside he never will. When you make a decision, spend more time considering how employees will think and feel than you do evaluating whether the decision makes objective sense."
Be efficient with presentations and meetings
They are the platitudes of the business world. Every stock image of a professional environment seems to focus on handsomely dressed men and women smiling and laughing circa 1997. The reality is conferences can easily fall victim to wasted time. New leaders and managers should focus their efforts on making sure operations are running efficiently. Every minute spent talking about efficiency in a meeting is a minute lost to inefficiency.
Remember that you are not the sole idea-maker
Just because you created your company doesn't mean you are the bearer of all innovation. If you've done your job well you've surrounded yourself with people who are equally capable of ingenuity and productive criticism.
"Unfortunately your best employees are also great because they are extremely productive," Haden points out. "The last thing they may need is responsibility for yet another initiative. Pile on too much and if only out of self defense some will stop making suggestions."
Don't neglect the downsides
Most ideas are going to have some shortfalls of negative consequences. In developing a strategy, don't forget to address these issues and weigh them carefully with your employees. Doing so will better inform your operations and boost trust among your staff.
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Posted: 12/19/2011