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October 24, 2016

Top 5 Leadership Skills Needed To Run a Successful Business

Not everyone in this world wants to be a business leader. For those who do there are certain attributes that are necessary in order to be successful. Some people naturally have certain skills and abilities while others have to work on them. No matter which category you belong to, if you are a leader there is always room for leadership development. There is always something more to learn.

We are going to take a look at five of the most important skills to have if you are running a business and managing people. Many great leaders already possess these skills but they can also be developed with time and effort.

The ability to motivate


If you look at some of the great leaders of history, such as Martin Luther King and Gandhi, you can see that they all possessed the ability to motivate. You have to be able to inspire the people around you by your words and action in order for them to be able to see the benefit in what you are asking them to do.

Problem solving ability


If you are a leader then you have ultimate responsibility; you cannot leave problems for someone else to deal with. If you are a good leader you would not want to anyway; you should relish the responsibility. Great leaders enjoy problem solving and embrace the challenge. They are also able to think clearly and logically in order to resolve the problem in front of them in the most effective manner.

The art of powerful communication


Effective and powerful communication plays a major role in the motivation we mentioned earlier. It’s very important that a leader exudes confidence. If you are a leader in business you need to be able to speak to anyone in the business and know that they can relate to what you are saying. The way you communicate with people should lead to a sense of trust and belief on their part.

The importance of technical skills


There are some people who argue against this point, but a decent level of technical skills can be an invaluable asset to a leader, if used in the right way. It’s very difficult to lead a business or team if you do not know what the people you are in charge of are actually supposed to do. If you have some technical expertise then you are better able to tell if the business is running smoothly or not. This does not mean that you should be too hands on when it comes to technical issues.

A gift for innovation


It’s important to note that innovation in a business should not just come from leaders; everyone should be encouraged to get involved. That being said, a leader should be keen to find innovative methods to push the businesses forwards and should have the confidence and belief to be able to bring their ideas to fruition. 

All five of these attributes are vital for anyone who wants to be a great business leader. 

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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