Are there really habits and personal characteristics that set so-so business leaders apart from true winners? One glance at a list of best-selling books in this category would argue that there are special qualities that contribute to stellar achievement. Highly effective individuals are often said to be driven, uncompromising, unusually intelligent, and willing to do whatever it takes to make their mark on the world of commerce.
Unfortunately, there’s a lot of baloney and misinformation between the covers of slick books that promise readers a secret formula based on long hours, warlike attitudes toward competitors, and other super-human powers. The reality is that most successful people are ordinary folks who simply stick to their goals and value the idea of hard work. What does it take to become an effective owner, entrepreneur, or manager in the modern world of commerce? Here are some of the key ingredients for making an organization succeed in its stated mission, whatever that happens to be.
The Ability to Delegate
Unfortunately, some entrepreneurs and owners of small startups find it terribly challenging to let others take on a significant amount of responsibility. But, as any large corporate manager knows well, there just are not enough hours in the day to do everything yourself. That’s why some of the world’s most profitable companies are headed up by people skilled in the art of delegation. Even if your organization is small, practice learning to delegate by giving away at least one of your everyday responsibilities to someone else.
Post-Graduate Degrees
Getting a graduate degree, particularly an MBA (master’s in business administration), is one of the most effective ways to supercharge your career. This is true whether you obtain the diploma immediately after finishing college or wait until you have several years of real-world experience under your belt. For many, the challenge is financing an education, and that’s where private lenders come into the picture. Grad students are often surprised to learn that they can get private graduate student loans that come with competitive terms, reasonable rates, and customized payback periods.
Social Skills
Having a well-developed arsenal of people skills can carry a person far in the world, and that’s especially true for business professionals. Make it a point to attend conferences and brush up on your ability to chat with strangers, introduce yourself to others, and carry casual conversations with groups of all sizes. These kinds of soft skills are hard to define and quantify, but most successful managers and owners are either born with them or make a point to pick them up along the way. A significant part of becoming an innovative leader is networking with your peers and learning about new strategies and different perspectives.
Financial Acumen
Rising to the top of any organization calls for financial skills. This doesn’t mean you need to have a degree in accounting or finance, but it does mean that it’s essential to know how to read financial statements like quarterly reports, balance sheets, and annual reports. Consider taking at least a few classes during college or grad school that are geared toward financial skills, like basic accounting, corporate finance, and statement analysis.
