In a world where seven out of ten startups fail, it is crucial to understand and seek as much knowledge on the topic as possible. According to an article recently completed by Forbes, typically the biggest hurdle comes with hiring employees—finding motivation for them and determining the dedication of the employees. To walk entrepreneurs through this process, the author Edmund Ingham provided several helpful hints that have been found in noted leaders.
First, a good leader must be fearless, or a business would never get off the ground. The author also notes that people are inclined to follow those with guts—who are willing to take risks. It is also important to be visible; leaders must not hide, as being seen by employees builds their faith in the leader.. Along similar lines, engaging with employees also makes the entrepreneur approachable. Get to know the employees’ hobbies and likes. Interact with them frequently, confidently and positively.
Good leaders aren’t afraid to delegate decisively; a line must be toed between expressing the importance of the task, and the faith the leader has in the employee to complete the job adequately. A good boss creates a culture; goals are set and are not wavered from. Thus creating a message the staff can feel passionate about. As culture is created, morale should never waver.
Leaders must find a way to walk a line between having fun in the workplace and competing within their market. As a startup, it is highly unlikely that the entrepreneur will be able to pay their employees very much; therefore, it becomes crucial that a leader finds a means of entertaining the employees, to prevent them from exploring alternative options. However, competition is very important; a good leader strives to win every point. To do this, it can be very valuable to always remain one step ahead. At the start of the company, the leader is inherently ahead of the employees—in power, knowledge and experience. As the business expands, it is important to continue analyzing every development, as a means of maintaining that authority. Finally, it is most important to remain relaxed and try to avoid paranoia. Startups and businesses are a game, and it becomes crucial to play as well as is possible with heart, faith and strategy.