Owners of growing small businesses have generally already displayed great leadership skills to get them to where they are, but as growth continues, leadership tactics may need to evolve in order to maintain the upward trajectory and keep the team on top of its game. Following are five tips to help you adapt your leadership to sustain business growth and inspire your team.
Be Willing to Put Yourself Into a New Role
When you're starting out, you may function more as an operations manager as you wear many hats to keep your business going. For example, you might be spread across tasks such as sales, customer service, marketing, human resources, etc. As your business grows, however, you'll need to start delegating tasks. While you'll still need to be involved in decisions across these departments, you may need to shift your own role to more of a strategist. Figure out your core strengths and play to those. At the same time, identify the strengths of team members and put them in the right positions to help the company grow. Build processes and systems to make things run as efficiently as possible. It's time to relinquish some control to others.
Lead with Data
While in the early days you can sometimes lead with your instincts, it's much better to rely on data as your business grows. More is at stake, and your growth will naturally provide historical data you can use to your benefit. Invest in tools and software that can help you track key performance indicators (KPIs). Monitor financial performance as well as operational performance and customer-related metrics. Utilize data in your planning and strategizing, and share key findings with other team members to get people on the same page. Use data to create goals.
Maintain the Right Environment
Part of leadership is providing your team with the right environment, and this is especially important during growth stages.
"Fostering creative teamwork environments is crucial for driving innovation within your organization," says Small Business Expo.* "To stimulate creativity, it is essential to create a safe space where team members feel comfortable sharing their ideas without the fear of criticism or rejection. Promote an open-door policy and encourage regular brainstorming sessions where everyone can voice their thoughts freely. Implementing a suggestion scheme can also be beneficial, allowing employees to submit ideas anonymously if they prefer. This openness not only brings fresh perspectives to the table but also encourages a collaborative atmosphere where innovative solutions can thrive. Recognize and reward creative thinking, as this reinforces the importance of innovation and motivates others to contribute their ideas. Remember, the most groundbreaking advancements often stem from the collective genius of a diverse team working together."
Empower Your Team
Being a great leader means empowering your team to make decisions and become great leaders themselves.
"Successful leaders empower and support their employees, helping them grow in their work," says Monster.com.** "They coach, train, and upskill, but they don’t micromanage. They build confidence. They know when to promote their employees and when to let them go. They don’t stand in their way. Effective delegating starts with learning your employees’ talents and building teams accordingly. Allow employees to take ownership of tasks and initiatives, and once these projects are completed, provide ample public praise. When your employees encounter frustrations, provide additional support. This approach to small business leadership will inspire more loyalty than any perk or bonus (but be generous with those too!)."
Evolve Your Communication
When your business is still small, informal and unstructured communication may work well enough to get by, but as it grows, you'll need to evolve to make communications more intentional. Hold regular meetings (whether in person or virtual) to keep teams aligned. Utilize tools like Slack and Zoom to have team meetings and conversations.
Your leadership skills have already brought you success if your company is growing. Keep them sharp, and be ready to adapt them to a new landscape. Take a more strategic approach to leading and utilize your team's strengths to help you reach the next level.
** https://hiring.monster.com/resources/small-business-hiring/employee-engagement/leadership-101/
