Richard Angus, Louis Groenewald and Steve Giddings, MD of Frontier Coffee Corporation address the importance of knowing your market and your competition.
As a chief financial officer or senior manager in your business, our role is not only to manage and control, it’s to lead, inspire and motivate. As we go about trying to do this, we all have those business leaders to whom we look for guidance. Some of them provide examples of perseverance and inspirational leadership. Others give us practical ideas around how to be more efficient. Combined, their ideas help to make our business management more seamless and effective.
When searching for business management role models, it’s a good idea to start off by aligning yourself with a leadership style. Which global leaders resonate with you? Is it the Richard Bransons of this world – quirky, creative and risk-taking? Is it the Donald Trumps – bullheaded and gutsy? Or do you favour a quieter, more analytical leadership style? These questions about business management should be answered in conjunction with a second, related contemplation: What kind of business environment are you hoping to create? A structured, disciplined workplace that favours productivity? Or an open, innovative environment that fuels new ideas?
While searching for your business management muse, it makes sense not only to look at the iconic business leaders with whom everyone is familiar, but the ideas of “every day” business management leaders who are making a success of things. Here are some thoughts of some such people.
Jerry Dollar says: “A manager oversees tasks, whereas a leader inspires people. The effective leader is the individual who has mastered themselves. “What is leadership?” asks Dollar. “You must first look in the mirror and ask yourself: what inspires me? Armed with answer in hand, it becomes your responsibility to share that inspiration with your team. The key to effective leadership, says Dollar, is to try to “create a hero in your workplace, at home, or in the community. Your legacy will not come from the number of followers you create, but rather, the number of leaders you mold!”
The Incredible Decider
Author and motivational speaker Cathleen O’Connor says: “To be effective as a leader, put on your superhero personality as The Incredible Decider!
“Leadership involves risk,” O’Connor says. “If you are someone who can make decisions quickly using the information at hand, your own vision and your intuition, then you will be the leader people clamor to follow. Effective leaders don’t second-guess themselves. Instead, they know that not all decisions will work out and they learn from those experiences. Get that cape on! There are decisions waiting to be made.”
Hire Slow but Fire Fast
In the opinion of Bert Martinez from Hireandgrowrich.com, one of the secrets to effective business management is to make good hiring decisions. “Starting at the beginning, take your time to hire the right people for the right job,” he says. “Everyone must be excited about your vision. Use personality testing to verify strengths and weaknesses. Real leaders are looking for other leaders to help move the vision forward. If you have doubts about a person, remove them quickly. So, Hire Slow but Fire Fast!”
With labour laws being what they are in South Africa, firing “fast” is not easily done. So tread even more carefully before taking on permanent employees. You need business partners who share in your vision and will help take it to the next level.
If you are looking for inspiration or decisive leadership in your business, contact The Finance Team. Our executives are experienced business leaders who can provide any financial services your company needs, from the chief financial officer down. They will join your company on an ad hoc or part-time basis, staying as long as your company needs and no more.
Image credit – www.arabianbusiness.com