LEADERSHIP
5 Strategies To Improve Your Leadership For Better Profitability
BY MIKE MICHALOWICZ
Small business owners and entrepreneurs are innovators . You create new services , products , and systems . Consistent development of your business is likely your zone of genius . Here ’ s a question : Do you consider leadership development in your strategy too ?
GREAT LEADERSHIP = PROFITABILITY
The best tool to establish your business as a competitor is you . As the leader of your business , there are several strategies you can implement to strengthen your leadership skills and improve your business ’ profitability .
1 . HIRE THE RIGHT PEOPLE
Finding and hiring the right people is crucial . You may think hiring someone who fits the job description is the best way to go , but I have found that skills and expertise are not enough if you want a truly loyal team .
To develop a team that treats your business as if it ’ s their own , you have to recruit people who share your values and vision . And you don ’ t necessarily have to hire based on a candidate ’ s experience . When you hire people with your shared values and the right attitude , you can offer training resources and share your systems so they can learn the job .
Align talent to the task . Stay in tune with who gravitates to what , or if there is an untapped skill or interest . Sometimes you find that an employee may be able to expand on their role to create more efficiencies for you . You also may find that an employee is a more organic fit for an entirely different role in the organization . I know it ’ s unconventional , but it works .
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