Dear Dan: I’ve attended seminars and workshops, written mission statements, created goals, set strategies and done all that. Trouble is, everybody else does the same. What can I do to give my business a boost?
– Wondering
Dear Wondering: Entrepreneurs who start and run businesses want their companies to be top performers. But they aren’t the only ones. Employees want to be part of a top-performing business, too. Top performers are way more exciting to work for, and the rewards will likely be bigger.
Customers and potential partners seek out businesses that are at the top of their game, as well. In short, almost everyone prefers involvement with dynamic organizations, not struggling ones.
That’s great, but what turns a business into a top performer? Rick Lepsinger, president of OnPoint Consulting, conducted a research study and got unusual results.
Oddly, says Lepsinger, the most successful companies and the least successful ones do many things the same. Companies in both categories can have clear goals and realistic strategies. Their employees may be skilled, engaged and understand the customer is king.
The difference is the culture the people at the top of the business have created. Here are the key leadership traits:
1. Ability to manage paradox: For example, the most successful businesses strike the difficult balance between short- and long-term goals. The owners are in complete control – yet they delegate well, and offer autonomy to others.
2. Ability to talk openly about changes in the business.
3. Ability to model behavior that supports change.
4. Ability to set realistic objectives and accurately estimate the resources required.
5. Ability to create and maintain enthusiasm among employees and others involved in the business. The “maintain” part is often the most difficult.
6. Ability to involve others in the decisions that affect them. “Employees should be freely able to share their thoughts and concerns on decisions that affect them,” says Leipsinger. “It provides a sense of ownership and nothing truly great can occur without it.”
7. Ability to lead by example.
8. Ability to strike a balance between dictator and delegator. Some parts of your business need to be controlled from the top; while others are best left to the people who do the day-to-day work.
Making your business a top performer isn’t easy. It takes constant attention and a willingness on your part to review and constantly improve your products, services and maybe even your business model itself, says Lepsinger. But the results will be worth the effort. •
Daniel Kehrer can be reached at editor@business.com.
