Some believe people are born leaders. You either have strong leadership skills or you do not. And if you do not, they are difficult to develop. The good news is that most great leaders were not born great leaders. They acquired the skills of great leadership – which means that small-business owners like you can also develop their leadership skills.
Whether you are a sole trader or have grown your business to the point of starting to create a team, strong leadership skills are necessary in running and growing a business. If you are dealing with other people – customers, sub-contractors, other businesses, or team members, investing in your leadership skills will make you more effective in achieving your business vision, mission and goals.
There is a lot of debate about what the most important skills a leader should have to influence growth. Apart from having a strong vision, mission and goal, what is the most important innate quality that a leader needs to develop?
According to Harvard Business School’s Tim Stobierski (2021), the number one skill a leader should have in business is Emotional Intelligence. Stobierski reports that emotional intelligence influences all other skills and attributes that are necessary for great leadership.
So, what is Emotional Intelligence and how do small business owners develop their emotional intelligence?
Emotional intelligence is basically an understanding of emotions and behaviour, It is understanding and managing your own emotions and also understanding other people’s emotions and working with them effectively. Emotional intelligence is made up of:
- Self-awareness: Being aware of your own emotions, strengths, weaknesses. This includes the ability to reflect on your own actions and take ownership when you have made a mistake. It can include the ability to receive feedback and changing the behaviours that do not work – continuous personal improvement.
- Self-regulation: The ability to regulate or manage one’s own emotions when under pressure or during stressful times. This includes the ability to think objectively before reacting and therefore avoid impulsive decisions.
- Motivation: The habit of completing daily actions consistently regardless of circumstances.
- Empathy: The ability to understand the emotions of another person. You are able to recognise how another person, whether they are a staff member or client, is feeling and appropriately respond.
- Relationship skills: The ability to influence and manage relationships with others – conflict resolution, communications skills, coaching, and mentoring.
Here are some simple steps every business leader can take to develop their emotional intelligence.
- Self-awareness: Write a list of your strengths and weaknesses. Writing helps you become more aware of them. Keep a short journal at the end of the day reflecting on what you did well, where you could improve and your emotions. A journal helps you understand yourself better, your triggers, and any patterns that you have in terms of your behaviour.
- Self-regulation: Understand your limitations and situations that might lead you to react rather than respond. Know what triggers you and prepare yourself for those situations. For example, if pressure or stress is a trigger be aware of it and learn to pause before responding.
- Motivation: Every morning, write your goal, mission and purpose down. Know why you do what you do and get into action immediately. Have a list of five things you will achieve every day and start with the top item on the list.
- Empathy: Practice seeing things from your other people’s perspective – understand their feeling and behaviours.
- Relationship skills: Strengthen relationships by focusing on strengths, improving communication and listening to understand.
