Staff of Entrepreneur Media - Entrepreneur Voices on Effective Leadership

Entrepreneur Press, Publisher

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ebook ISBN: 978-1-61308-377-2

CONTENTS

Table of Contents

Primetime TV and radio host, former Fortune 100 CMO, and author of Think Big, Act Bigger

W hat is a leader? What makes a good leader? Those are questions we should ask ourselves every daywhether we are currently in a position of power or aspire to be in one. A good leader doesnt just tell others what to do. Its not someone who cracks the whip just because they have power. Thats a tyrantnot a leader.

A good leader is someone who guides and mentors their team. They offer counsel and foster a good working environment. They encourage the team to go above and beyond and push them out of their comfort zone in order to achieve great things. A strong leader needs to know their teams capabilitiestop to bottom. They should measure their level of success by how their team performs. They must realize that they can only go as fast as their slowest or weakest team member. Even still, authentic leadership involves owning mistakes, setting realistic goals, having a back-up plan (or multiple back-up plans), and being able to meet your conditions of satisfaction, whatever those are. Mine are having fun, making money and growing professionally.

I have been in business for a long time. I have bought and sold over 250 businesses, I have conducted millions of dollars in transactions, and I have seen quite a few changes in leadership over the years. In fact, I recall sitting in a meeting once where everyone was discussing a way to move forward on a project. My boss at the time said we had to move a certain way because thats the way its always been. I sat there thinking, Why are we doing something thats already been done before?

Doing the same thing over and over while expecting different results is the very definition of insanity. I wanted to speak up and say what was in my mind, but I was young and learning the ropes. Who wants to hear from the young kid? Looking back, though, I wish I had spoken up. It mightve gotten me a look of disapproval, but it mightve also impressed someone else by thinking outside the box.

Being a leader in modern times means letting go of the old way of doing things and accepting that things are different now. In fact, most successful leaders must constantly hold conflicting ideas, choices, possibilities, opportunities, and activities in their heads at the same time. Hence, todays business world requires leaders to be nimble and quickly adapt to fast-moving situations.

Despite the constant change, effective leaders lead. They think big. They come up with great ideas. They fail, they counsel and mentor, and they are part of the team. The most aspiring and successful leaders are in their positions because they arent afraid to be true to themselves and use that same bravado to represent their brand. Im a cowboy from South Dakota making my way through the concrete jungle that is New York City, and my personality matches my persona. Authenticity earns leaders respect. After all, no one likes a phony.

By many standards, I have achieved a modicum of success in corporate America. Ive been a lobbyist, Ive worked in the printing industry, and Ive sat in the corner office as the Chief Marketing Officer at a Fortune 100 company.

Yet, something was missing.

The entrepreneurial pull was too much for me to ignore. For me, being an entrepreneur is a way of life. I am totally, and constantly, immersed in what I do. It is a life-calling missiona rush of adrenaline that gets in your system and consumes you... in a good way.

As entrepreneurs, we feel the pull to be leaders outside of the restraints set by corporate America. We want to create masterpieces, lead movements, and take action on our own timelines. Sometimes, leading a team can feel like herding cats, but you must find a way to make sure everyone is pulling in the same direction. But embracing the challenges in a way that get everyone aligned is what effective leadership is all about.

Having published Think Big, Act Bigger with Entrepreneur, I know firsthand of their mission to address the true needs of current and aspiring entrepreneursand current and aspiring leadersin the ever-changing business world of today.

For the first installment of their Entrepreneur Voices series on Effective Leadership, they have gathered a vast collection of authors whose experiences have made them thought leaders in their respective fields. Their wide range of knowledge and practical, everyday advice is something that everyone can usepersonally and professionally.

Are you ready to take the necessary risks to be a good leader? As I always say to my staff, no ones going to die. Leaders cant be afraid to fail. Leaders need to be irrational, push boundaries, and at times, create tension. Leadership isnt about having power; its about reaching a diverse number of people and keeping them focused on one goal: moving the company forward!

T here has long been a debate as to whether leaders are born or made. After numerous surveys and discussions on the topic, there are arguments for both. It is safe to say that most studies find that there are leadership characteristics inherent in some people that make them more likely to excel in such a role. However, training and honing numerous teachable skills create most leaders. It is also worth considering a third factor, and that is the wide range of personal life experiences that leaders use in their roles.

Successful leaders take a variety of paths to leadership. Some highly successful leaders, such as Jack Welch or Sheryl Sandberg, wanted to be at the helm from the start of their careers (or even before). They were often founders or co-founders of businesses that they are now leading. They had a passion, and by sharing, introducing, and enlightening others to what they were passionate about, they were able to become leaders. Others bought into the vision of a company and worked hard to attain a leadership role. Some people trained and honed their leadership skills prior to joining a company. These are the people who were on a path to leadership before even having people to lead. Many of these folks had leadership roles in other aspects of life, from schools to Boy/Girl Scouts to clubs, associations, athletics, or the military.

At the other end of the spectrum, youll find those who landed in leadership positions by defaultno one else wanted the job or was qualified. These are very often people who excelled at their role in the company and there was no place for them to go but up. They became leaders and (often much to their surprise) had to start learning the role on the job and and while still doing their other work. Some make a smooth transition, but most do not unless they understand early that there is a lot to learn.