Whether you own a small business or a large one, leadership boils down to a common prerequisite – that you manage people, which is a fancy way of saying that you inspire them in order for them to help you reach your professional goals. Right off the bat, the key difference between a sizable business and a tiny business is the number of people you’ll be having under your supervision.
In the remainder of this post, we’ll introduce you to some healthy behaviors that leaders of small companies should adopt, with the mention that these will come very handy if you’ve previously led, say, a corporate-level team. Let’s check the list below to find out more.
1. See Your Staff as Mentees
Working with a smaller group of people allows for a greater degree of closeness to them, whereas in a large company leadership is a rather one-size-fits-all kind of situation. You should think of yourself as a hands-on tutor, not as a manager, since the latter is an aloof, “outer” character, and that wouldn’t work in a small group because your employees won’t be able to relate to you at all.
2. Hone Your People Skills
This doesn’t apply only to the interactions between yourself and the people under your supervision, but to those between you and your customers as well. Due to it being a small business, you’ll have a lot more time available to put into the relations you develop with your clients and of course, this will earn you their loyalty, which translates to guaranteed profits.
3. Don’t Be a Dictator
If you compel your subordinates to choose your way or the highway, they will choose the highway, primarily because they don’t have that much to lose, since they work in a small company that certainly doesn’t offer too many perks. People are reluctant to leave corporations even if they are tyrannized because at least the financial gains makes them more enduring, but being a despot in a small company will not only leave you without employees – it will put you out of business.
4. Try Not To Micromanage
Your staff needs to feel confident in their skills and that is not going to happen if you control every single aspect of their work. Give praise where praise is due and help where it is needed and before you know it your employees will learn to own up to both failure and success.
When working with something more complicated such as Forex, it can be very tempting to stress your workers out with advice and criticism. However, employees shouldn’t be humiliated for the smallest mistakes.
Go through the list of available Forex brokers with them from the very beginning, find the suitable options and tell them what your expectations are. Then, give them the freedom to improve at their own pace. You should also help them when needed and congratulate them when they make progress.
5. Don’t Choose Sides
We should probably start by saying that you shouldn’t do anything to get into this situation in the first place. Treat everyone equally and don’t start playing favorites, otherwise your subordinates will start dividing and eventually leaving your company.
Final Words
Many managers come to think of themselves as some sort of demigods and that – understandably – doesn’t sit well with the mere mortals they lead with an iron hand. The more human you are, the more your employees will respect you, and this applies doubly in the context of a small business, where there’s nothing but close quarters.
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