Being a business owner is a dynamic and demanding role that requires adaptability as well as continuous growth. Here, Young Entrepreneur Council members share the skills every business owner should aim to cultivate this year to be a more effective leader and why these skills are key for the success and longevity of their companies.
What’s one skill any business owner should aim to cultivate this year to become a better leader, and why?
Leadership skills small business owners should focus on honing
1. Emotional intelligence
In the dynamic landscape of today’s business world, one skill that’s paramount for any business owner aiming to be a better leader is emotional intelligence. In a world where adaptability and human-centric approaches are increasingly valued, emotional intelligence emerges as a key skill for leaders who aspire to thrive and make a meaningful impact. —Adam Toren, Kidpreneurs.org
2. Curiosity
Great leaders constantly ask questions. Why is the customer unhappy? What more could the product do? How can an employee grow more this year? Then, they listen carefully and ask follow-up questions. When all the ideas have been brought to light, they encourage both exploration and failure—because creativity and innovation can only happen when the team is not afraid to try. —Vanessa Nornberg, Metal Mafia
3. Written communication
Good written communication is an increasingly important skill as we continue to operate with remote workers or freelance hires around the world. It’s especially crucial since it allows leaders to work with their teams asynchronously, minimizing the friction of coordinating in-person meetings or scheduling calls. —Firas Kittaneh, Amerisleep Mattress
4. The ability to manage your well-being
The number-one area that will impact your business and leadership is the ability to effectively manage your own mental, emotional, and physical state. Build a daily routine that helps you prioritize your mental, emotional, and physical well-being so you can operate at peak performance. Your energy sets the tone. Invest in yourself daily and watch your team soar. —Kevin Getch, Webfor
5. Digital literacy
I think business owners today should cultivate digital literacy in order to survive the evolving market dynamics. It’s essential to get acquainted with the latest tech trends and be familiar with the relevant tools that can help streamline business operations. We live in a digital age. So, to grow your business, it’s important to have the ability to leverage viable solutions that fit your needs. —Chris Klosowski, Easy Digital Downloads
6. Agility
If we’ve learned anything from the last few years, it’s to be prepared for anything and everything. One of the best skills to cultivate in 2024 is the ability to lead in unpredictable and ever-changing environments. To successfully steer your team through ongoing challenges, learn how to make agile decisions. Make it your goal to foster a culture of continuous learning and adaptability. —Blair Thomas, eMerchantBroker
7. The ability to motivate others
One of the most important skills for a business leader is the ability to motivate and bring out the best in others. This goes beyond simply making motivational speeches and requires you to study the needs and goals of each person. Try to identify what drives every member of your team so you can find the best way to communicate with them and inspire them to perform their best. —Kalin Kassabov, ProTexting
8. Creative problem-solving
A crucial skill for any business owner is creative problem-solving. Cultivating this skill improves a leader’s capacity for adaptability, strategic thinking, and overcoming challenges in the ever-changing business landscape. It makes people more flexible, stimulates critical thinking, and helps businesses succeed by finding creative and innovative solutions to problems. —Jared Weitz, United Capital Source Inc.
9. Resiliency
Business owners should focus on building resiliency this year. With so much uncertainty in the market, in politics, and in the world, embracing resiliency can be the difference between a strong leader who guides a company through rough waters and a company that doesn’t make it. —Rachel Beider, PRESS Modern Massage
10. Thought leadership
Leaders who want to stand out need to build thought leadership skills. This means creating a personal brand, learning how to communicate effectively online, and sharing powerful and valuable insights with the aim to teach, connect, and stand out. This will make them better leaders who also make an impact in their industry. —Syed Balkhi, WPBeginner
11. Mental fortitude
I think all business owners should cultivate strong mental fortitude. Running a business isn’t easy. You may come across a variety of challenges. You may fail multiple times. Each time, rather than succumbing to self-doubt, you have to get back up and keep the needle moving. You can’t let the issues get to you, and you have to keep your cool to come up with viable solutions that ensure your success. —Jared Atchison, WPForms
12. Data literacy
One key skill to master is data literacy. This means getting comfortable with numbers, reports, and data in general, as well as learning to interpret them and translate insights into actionable strategies. This leads to better decision-making that then leads to growth in the business. Business owners should learn statistics and data analysis to better process information and drive better results. —Blair Williams, MemberPress
13. Active listening
If you’re looking for a leadership skill to improve on this year, I would practice active listening. Instead of planning what you’re going to say while a team member is talking, stop and really listen to what they are saying. Not only will this skill make you more mindful of your actions, but it will also make it easier for you to understand and build rapport with your team. —Chris Christoff, MonsterInsights
Source:YEC , www.allbusiness.com, [publish_date
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