Although it is the financials which will tell you if you are achieving success in your business, the route to success is through understanding yourself and your people.
The corporates have been around for longer and are further on in the journey so there is much which can be learned from them, especially if you are just starting out. The next few blogs will explain what I believe are the 3 areas small businesses can learn from Corporates. Starting today with :
1: Get your leadership right.
Everything starts at the top and none so true than with small businesses. Large corporates spend a lot of time and money sorting out what is their mission and what are their values. They realise that without this they cannot lead the layers of staff beneath them, there simply is not enough time to individually speak to every employee, to allow them to understand how this company sets out to achieve its aims.
Every company, unless it is a charity, has the overriding aim to make money, but large corporates understand that this will not be every ones aim who works in the business.
For smaller businesses the mission is what you, (the business owner) do and how you will do it. Your business is the vehicle to how this is done. Therefore, you as the leader, must ensure that you are clear in your mission, before you will be able to stop being ‘the boss’ and become an effective leader. The leader provides purpose to the business and those who work in it. He provides a culture and environment where people understand their contribution and enjoy going to work. Too much task management turns you into ‘The Boss’ and there are no bosses in large corporates. Most of the leaders in corporates have undertaken learning through books and courses, or coaching in self-awareness. Without being inwardly aware of your impact on those around you, you are unlikely to be able to shape your leadership style to best create an environment which maximises the benefits to your business.