The pure leadership just as in Arif Bhalwani Third Eye Capital perspective allows you to lead large organizations. You can inspire and motivate others, as well as be a visionary and a leader. Most organizational leaders must also be able and willing to take on the role of business leader in all situations. Business leadership is possible just like pure leadership. You can set yourself apart in the organization by taking seven steps.
The difference between leadership, management and both is important. Leadership is about creating change, being a leader, looking at the bigger picture, motivating people, and paying attention to overall processes. Management is about taking control, directing and dealing with the day to ensure that there are no changes. The best way to watch management happen is if you’ve created a middle leadership unit that handles the management. However, if you find yourself in a position where you are both a leader and a manager, you must be able balance them. You might find that your management involves simply giving direction and then walking away. One part of managing is allowing yourself time to watch your teams in action. These differences can help you focus on managing in a cloud of business.
You can raise the bar by defining your market. As an organizational leader, it is your responsibility to project a vision of the future. Compare where the business stands with its competitors. Many of our jobs are in industries with multiple providers of similar products and services. We need to make sure that the slots numbers one and two are reserved for our company and communicate this information to our employees. In a downturn, competitors in lower slots are likely to make losses so protect your business. You have to be a leader and look for innovative ways to make your sector better.
Encourage productivity by promoting simplicity, speed, self-confidence, and simplicity. This formula comes to us from G.E., where Jack Welch (former CEO) decided that what worked back in the 80s would not work for the 90s and that it was time to change. This idea was to improve the way businesses do business internally. Speed means you must give teams the power and ability to make decisions or receive answers within minutes. This requires you to reduce red tape and empower people to make decisions and move forward based upon their own analysis and research. Simplicity can only be described as a way to make ideas easy to communicate with others at any level. Simple messages are more effective at reaching people faster. Welch also says simple designs tend to sell quicker. Simplicity and speed are what give self-confidence – the old business model doesn’t work. Leaders, as well as team members, must be aware of how fast and simple they can bring to the table every day. Every new step brings more self-confidence.
Use stretch goals. Stretching internally can transform the outlook of an organization, much like redefining market. In other words, you could create reward tiers for each tier of production if your profit-sharing program is in place. Don’t reward production increases of five percent. One percent profit is awarded for five percent increase, two percent at six percent and so on. Even if the goal structure isn’t profit-related it should convey to the organization how meeting goals is great but exceeding them is the only way for the organization to stay at the number one slot.
Be focused on quality. This is a simple principle, yet it’s often forgotten. Your leadership role in ensuring internal quality is essential. You have to be the one who leads the charge for efficiency and value in each procedure and process within your organization. It might mean you must openly communicate with the organization to ask them to solve problems and report on inefficiencies. It’s about communicating that your organization shouldn’t be doing certain things just because it’s how they have done them in the past. External quality is as important as internal quality – every product and service on the market must be of outstanding quality. It is possible to establish your criteria for high quality products and services and to link pay increases with quality ratings. Internally, give a portion the savings to the person solving complex inefficiencies. Whatever your method, quality must be the main focus.
Always strive to be more competitive. The clouds of business become darker when there is more competition. Your organization needs to be an innovator and an inventor, constantly looking for ways that the industry can change and narrow the gap. Your ability to direct the organization’s direction should be possible with open communication and speed, simplicity, self-confidence, and a spirit that encourages open communication. As you speak to your organization, remind your teams that their role is to seek out new ways of innovating. Imagine an organization that is always innovating!
Function as an independent company. Jack Welch is a good example of this. Small businesses are agile, moving quickly and avoiding red tape. They also look for the next innovative idea to keep their company going. Even though your organization may be large in numbers, that doesn’t mean it can’t be run like one. Be free of bureaucracy and borders – keep your team talking, discussing and communicating with one another. Know your customers. Discover who they are, their preferences, and why. If you keep your small-business mentality in place, it will be easy for you to move the company forward.
