Are you going to start a new business? You will have to face a lot of ups and downs in making it a successful business. Also, you need to manage your team to run a business company. To tackle these challenges, you need to be a great business leader. But here the question arises, what makes you a great leader?

According to trait leadership theory, leaders are born, not created. It says that every great leader is born with innate traits that can be personality, physical, or intelligence factors. In contrast, the process theory of leadership defines leadership as a process of interaction between leaders and followers. It tells us that those leadership traits can be learned and developed.

When it comes to business leadership, demands years of practice. Remember! It's never too late to start acquiring traits of a great leader in yourself. Let's have a look at 8 traits of great business leaders to run a flourishing business.

 

1. A Clearly Defined Vision

Great business leaders always have a clearly defined vision for the development of a company. They always start something keeping a result in mind. Vision consists of long-term and short-term goals. Long-term goals provide a broader picture of your business, while short-term goals are set to tackle problems in the way of achieving actual results.

Having a vision helps a leader to inspire himself and others to keep working to achieve the desired common goal, especially in stressful times. It is the only way to provide a clear direction and purpose to a business. If you have a clear vision, your team will be motivated and focused as it inspires trust and a sense of connection to the company.

Have you defined the vision of your company? If not yet, do it right away!

 

2. Endurance

Most importantly, a leader needs to have the mental and physical endurance to face even the toughest challenges. When things go wrong, take a deep breath and start looking for a solution. How a leader handles failure defines himself and inspires others to remain steadfast!

As a business leader, you must remain patient. You don't have to be afraid of failure as things don't always work according to our plan. Using a pragmatic approach to come up with a practical solution by managing and calculating resources is critical.

 

3. Adaptability and Flexibility

Great business leaders have adaptability and flexibility. They know how to deal effectively with changes. This is a vital trait for a leader as you always have to face competition to grow your business. Accept the changes and act accordingly!

If not, you will soon be out of the market as the world constantly evolves. One of the best examples of this is the Nokia Company. They used to produce the world's best mobile phones once. But now, they are out of the market competition. The only reason behind this loss is that they didn't improve themselves with the market demand for smartphones battle.

 

4. Creativity and Imagination

Influential business leaders are also serial innovators. They continuously develop new creative ideas to improve their business and grow market shares. The success of a business depends more on its uniqueness.

As a leader, you need a little creativity and imagination to innovate new business ideas for personal and professional development. This innovative approach helps a leader to run a profitable business for longer.

You don't always have to evolve your business when challenges come your way. But also when you want to take your business to the next level. Such as Apple Company introduces a new model of the iPhone after some time, each with some unique features. This process helps them to generate more and more revenue.

 

5. Decisiveness

Being a leader, you must always be ready to make sound decisions for a business. This demands that you have to remain updated on relevant facts and figures through careful analysis in a corporate world. Successful entrepreneurs are invariably risk-takers. They are always ready to make bold decisions. The power of decisiveness is what makes someone a great leader. If you have a fear of results, you will never be able to make decisions at the right time.

Rather than sitting idle and looking at things from a distance, a great leader make a decision and take action. This action might not be sure at that moment. Still, it helps to provide a direction to move forward swiftly towards the desired objective.

 

6. Empathy

One of a leader's outstanding qualities is empathy toward team members. As a business leader, you need to accept that each individual has their personal life problems.

If someone cannot complete a task at a given deadline or has made some mistake, you must know the reason before scolding them. This will help you to create a positive and healthy working environment. But accountability is still necessary!

 

7. Foster high-performing Team members

Great leaders know how to earn the respect and trust of their team because they understand the value of a team in a durable business. They have the trait of fostering high-performing team members.

An influential leader knows that each individual has different strengths and attributes. Firstly, he assembles people with the required skills to make the team. Then, he provides his full support to empower each team member.

Know and accept the differences! As a leader, you need to comprehend that each team member will work according to his learning style and speed to do a task. How you deal with each team member will define your leadership skills. It is necessary to keep recognizing and admiring the efforts of your team to boost their vibrancy.

 

8. Self-motivation

The last but most important trait for being a great leader is to be highly self-motivated. Suppose you have all the above characteristics but lack self-motivation. In that case, you will not be able to excel in your business.

Nobody can make progress if he is not ready to face challenges! This is important to keep yourself motivated to face challenges without getting exhausted. Renowned leaders remain passionate about meeting changes and new opportunities. This self-motivation can be achieved by having a clearly defined vision that provides direction.

 

Conclusion

To excel in your business, you need to acquire the traits of great business leaders. We have discussed the 8 most influential traits common in all great leaders. Bring out these traits in yourself if you are willing to be a great leader. Which traits other than these are helpful to be a great leader?

Be open share your experience with us via comments!