Some of the biggest names in the business are often held up to be great examples of how to lead. Their leadership styles, sacrifices, and commitments become legend and even fill column inches, but what about the small business owners of the world?
In the UK, small businesses make up “99.3% of all private sector businesses” and employ 60% of people working in the private sector. Their contribution is massive, so business owners and their teams need to continue to be successful.
It’s a tough lesson to learn, but failure isn’t universally negative. It might feel pretty terrible at the time, but experiencing and overcoming failure can turn you into a smarter, more innovative business person, and you’re guaranteed to never face the same challenge in the same way. Everyone, no matter what their current net worth, will have experienced failure after failure.
We often don’t hear about it because they use their social media for the highlight reels and positive spin. Remember you’re not the only person who struggles and experiences knockbacks and make sure they don’t defeat you but make you stronger and stronger every time.
Understand You’re only as Strong as the Team Around you
It doesn’t matter how small a team is, their cohesion and cooperation are integral to how any business functions. To keep everyone focused, share your goals with your team and make sure they can share in the success of meeting them. Feeling disconnected is a big motivation-killer and even staff who were once full of ‘get up and go’ can start to lose enthusiasm if they’re not sure what they’re working towards.
Outsource to People with the Right Skills
No one should be running a business entirely on their own. If you are, you’re missing out on some important skills, and the pressure is going to ramp up if you’re sick or unable to work for a period.
Even if you don’t have a team of permanent staff, freelancers and support staff can make a massive difference. Depending on your niche, it can be crucial to have an accountant to take care of your finances so you can concentrate on other things, a designer with an excellent eye, and a developer who can anticipate problems before you do.
Always Set the Best Possible Example
It’s your business and your rules, but you’re not going to win any confidence if you don’t follow them yourself. It’s far more motivating to see the boss getting stuck in too, and when you’re growing your business, it’s likely you’ll need to.
The effort you put in is one way to set a positive example, but how you treat other staff is another important indicator. Fair pay, an understanding ear, flexibility, and being consistent with your expectations will send an important message to your team.
If you’re building a team and advancing your business, Capify can help you with the funds you need to make it happen. The alternative business loan is the perfect finance solution for Limited Companies. You could raise between £3,500 and £500,000 depending on your monthly turnover.Get A Quote