Over thirty companies are worth at least a billion dollars that didn’t exist just ten years ago. Money and decisions are moving fast, and those who falter or waste time being unsure quickly get left in the dust.
If you want to take a page out of the book of successful business leaders like former Polycom CEO Andrew Miller and aren’t sure where to start, here are the top ways business leaders drive company growth, from Andrew Miller himself!
Set The Tone For The Whole Company
Business leaders can help their companies thrive by being a resilient and robust figurehead. If your CEO is meager or unsure of how to lead, your company will show this. Every business needs a firm hand to guide it forward, have a vision for the future, and a hopeful determination that you can feel in every thread of the company.
Business leaders achieve this with incredible enthusiasm, a fair amount of pride, and enough success already in their pockets that they don’t have the first-company jitters anymore. This cliche doesn’t mean that first-time business owners can’t be successful; it’s just that those in that boat have to work harder to get over their hurdles.
Change And Grow With The Company
If a company’s business plan hasn’t changed in thirty years, that business can’t be doing very well. Times vary, and with them, technology, public opinion, and people’s needs shift as well. The only way to ensure your business keeps an advantage, some edge that you can stay ahead of the curve, is to make sure you bend and change when it’s necessary.
Business leaders who roll with the punches, and aren’t too precious about the things they created, are more likely to take reasonable risks that could turn into significant profit for the business they own.
Listening to Employees and Peers
A fantastic leader has to listen to employees and peers to strive. Opinions, especially if they’re different from your own, can help you reevaluate your business. These evaluations help garner change and ingenuity. You may be having trouble keeping your employees on time, but talking to them could help you solve that problem. If your business hits a hiccup, talking to peers who run their companies may help you to realize who you can fix it or avoid that problem in the future. Be open to learning, and people will be happy to share their knowledge with you.
Scrapping Bad Ideas When They’re Proven Bad
Holding onto bad ideas just because you thought of them is a terrible plan. If a change turns out poorly and doesn’t help your company succeed, you have to drop it. Although there are some ideas you can rework into the right actions, don’t think that every idea works this way. Be willing to admit when something has failed so that you’ll be able to pick up and move forward with the next course of action. This idea may be more challenging for some new to running their own business, but with time, you’ll learn to take failures in stride- since they mark a path leading to success.