Starting and running your own business can be exciting and highly rewarding. It is however filled with ups and downs, as the process of building a successful business is not linear. Every entrepreneur quickly learns that they have to wear many hats; you are the salesperson, the accountant, human resources officer, operations manager, product specialist, among many others. This is particularly in the start-up phase. As the business grows, some of these roles can be delegated to staff members.
But the key role that you must fulfil as an entrepreneur is the ‘’leadership’’ role. This involves setting the vision and direction for the business, determining the actions that are neccessary to achieve these goals, ensuring that your team understands and buys into this vision, and that their activities aligns with it; basically ensuring that the business wins.
The entrepreneur will lead the business through varied circumstances; periods of growth, stability, decline or distress. One of the hardest periods that any leader would need to navigate their business through is a period of ‘crisis brought on by external circumstances that the business has no control over, that affects not only the business, but the market at large.
The COVID-19 pandemic is that period of ‘’crisis’’ which is having a major impact on economies around the world. Every business right now is anxious about whether they will survive beyond this global disaster. And small businesses have been impacted the hardest. The only difference any business can make now is choosing how they will navigate their way through the adversity.
There is a need for effective leadership now more than ever in any organisation, particularly small businesses. We unpack some key aspects that are needed to lead your team through this period of change and uncertainty.
Bu hikaye Your Business dergisinin June/July 2020 sayısından alınmıştır.
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Bu hikaye Your Business dergisinin June/July 2020 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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