Five Fundamental Entrepreneurial Leadership Qualities Every True Corporate Leader Must Possess

October 16, 2020    0 comment


American author John C. Maxwell remarked that: “everything rises and falls on leadership.”

Entrepreneurial leadership can, therefore, be described as the pivot for the success or failure of every business.

The leaders’ vision, strategy, characteristics, and style exhibited in a particular context determines a business’ ability to innovate, develop a pool of talents, and populate markets with new products and services.

Excellent customer service and quality of products will all depend on the organization’s leadership.

However, despite its core role, attaining the kind of leadership competencies that drive business success does not come easily.

It calls for the acquisition and nurturing of specific attributes. And it is a process which takes time.

Human Capital International wants to be your companion on this journey and help you navigate it primarily with your team.

Let’s begin from:

Self- awareness

Effective entrepreneurial leadership across industries requires that a leader understands his or her personality first.

Self-awareness is the ability to see yourself clearly and objectively through reflection and introspection.

As a leader, you are able to experience yourself as a unique and separate individual when you can have a better appreciation of yourself.

Through the process of reflection and introspection, you can identify and build on your strengths.

You would also find areas where you would like to make changes for improvement.

As a result, you can seek the support of your team to compensate for your weaknesses and tap into different abilities and talents around you without feeling threatened.

For all successful organisations, talents must lean on each other, and it is the leader’s role to lead the process.

To succeed as an entrepreneurial leader in post-COVID -19, and as buttressed by Edward (2013), a genuine self-assessment to know your core skills, traits, competencies, behaviours, and experience is a must.

Have a clear strategic vision.

This article will interest you: Critical Post-COVID-19 decisions for Africa’s SMEs 

By sampling different definitions, one could accurately interpret vision to mean an ideal future that you must sacrifice to attain.

As an entrepreneurial leader, you must have a clear strategic vision to enable you to take your team along at all times, but most especially during tough times.

Having a clear strategic vision, whether you lead a small or big organization, is very critical.

It is that vision which will keep you awake when you hit setbacks. Never at any time think that in your leadership reign all will be smooth.

You will face obstacles. People you trust today may disappoint you tomorrow.

You will fail to achieve your targets, and the feeling of giving up will creep in.

But if you have a clear mental picture of where you want to go, it will hold you in check and keep you focused.

Mike M, a Forbes magazine contributor once said that “leaders who can’t see it clearly, probably won’t find it: Leaders without vision will fail”

Because you know where you want to be, when challenges arise, motivate your team to bring out the best in them, and to maintain the team spirit needed behind that shared vision.

Develop employees and help them grow.

In one of our previous articles, we discussed succession as one of the biggest challenges African enterprises and countries face.

Recommended article: Succession Plan and Survival of African SMEs

Many current corporate leaders think by grooming potential successors, they are equipping and arming future enemies who will render them jobless tomorrow.

Being an entrepreneurial leader will require that you not only mobilize your team behind that shared vision but also develop them.

Leaders are supposed to nurture talents whom they will pass on the button to accomplish their vision.

In reality, you will be surrounding yourself with assets and not threats. Success without a successor is failure.

A study by Eben. H., (2016), indicated each year, 10 to 15 per cent of corporations must appoint a new CEO.

These positions, the study added, fall vacant due to retirement, termination or death.

Without a succession strategy, a CEO dies with all clients’ data and business contracts, because no one was nurtured in the company to take up the mantle.

Worse, where the leader happens to be the owner of the business, the company will typically be buried alongside him or her.

To avoid this, do what every successful and enduring entrepreneurial leader does; have a succession strategy and develop your employees.

Listen and be action-oriented.

Another essential attribute that every entrepreneurial leader should nurture is good listening skills.

To effectively lead your team, you should always listen to them.

Many will come to your office to seek guidance on matters not related to work but essential to their personal and family lives.

Related article: What are SMEs leaders in customer experience doing to satisfy customers and drive growth?

Be open-minded and welcoming. Your role as a leader is not only limited to quantitative targets. They include being human and seeking creative ways to influence your team and being a mentor to them.

In the end, the entrepreneurial leader’s role is holistic.

Some will approach you with suggestions on how some aspects of the organisations should run.

They may not even be perfect with their suggestions because they are not privy to classified information, yet do listen to them.

Being a good listener is a great leadership trait.

According to Rob, B., & Christine, C. (2015) blog, you invite calamity if you do not listen to your team.

In their study, they believe effective leadership should lead by a 20/80 rule.

They suggested that twenty per cent should be sharing your views and the eighty for listening.

Taking Ownership

Entrepreneurial leadership is all about taking ownership.

It is being one hundred per cent responsible for the strategic direction and the stakeholders of the organization without losing the momentum.

Leading in this fast-paced and individualistic world where people shy away from what is not in their job descriptions, ownership becomes a test of authentic leadership.

All successful entrepreneurial leaders have developed the tenacity to take full control of their organization’s problems or tasks. That is Leadership.

If you desire to be an outstanding entrepreneurial leader in this post-COVID -19 era, these characteristics are highly recommended for you.

Feel free to share with us your thoughts on leadership in the comments section below!!





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