The greatest asset in your business is your own leadership. No matter how good your ideas are, how much capital you have raised or how strong your business plan is, you’ll never get the breakthrough you desire if you lack leadership skills.
On the other hand, a leader who can influence and empower others has cracked the code to business success. When it comes to business success, 80% is psychology, and only 20% is mechanics.
The good news is that leadership isn’t something some people are born with and others will never have. It can be taught, practiced and learned. An experienced professional executive coach or business leadership coach can help you identify the skills and psychology you lack and transform your leadership potential. There is a growing demand in our world for exceptional leaders—decide today to step up to the challenge.
In our experience, there are several ways that leaders limit themselves and fail to empower their teams. If you recognize any of these traits in yourself, that’s great. Acknowledging your failures and shortcomings is the first step to growth and is the mark of a great leader. Here are nine ways a leader might hold their team or company back.
1. They don’t serve a purpose greater than themselves
Great leaders use their influence to serve a greater good. They have a vision that goes beyond themselves. Employees are driven to come to work each day, take initiative and contribute when they feel their work is important and meaningful.
On the other hand, if your only objective is to make a profit, if your team is just coming to work to punch the clock and get paid, motivation and productivity will quickly wane, and your business will never achieve extraordinary results.
2. They lack hunger
A core characteristic of leaders with impact is their insatiable drive to do more, be more and serve more. On the other hand, ordinary leaders lack this hunger. They are not invested in a greater vision and are just making it through each day. Leadership sets the tone for the rest of the organization. Leaders who lack hunger will have employees who aren’t invested in taking responsibility, innovating or going the extra mile.
3. They are inflexible in their approach
Toys R Us was once the undisputed leader in toy sales. Their big box model was thriving. However, as Amazon began to take off and other stores like Walmart and Target shifted to e-commerce models, store managers and employees warned that foot traffic was declining and customers were price-checking with online stores.
Leaders at Toys R Us failed to listen to their employees and adapt to a changing marketplace until it was too late. Everything came crashing down, and the company filed for bankruptcy in 2017.
Great leaders have a strong vision and a flexible approach. They listen to their employees on the ground and adapt as needed. You only have to look at the graveyard of failed businesses such as Blockbuster, Toys R US, Blackberry and Sears to know that inflexibility leads to business failure.
4. They love their product or business more than their customer
Understandably, many entrepreneurs have a deep attachment to their business and product. They invested their time, energy and money to get their company off the ground. However, if a leader loves their product more than they love the customers they are serving, they will never rise above their competition.
5. They fear being replaced
Some leaders fear that if they empower their team too much, they will no longer be needed and will be replaced. This kind of limiting belief comes from a scarcity mindset. Effective leaders create systems and teams that can thrive without them. There is room for everyone to succeed, and the very best leaders develop other leaders, not followers.
6. They are held back by their limiting beliefs
Many leaders are shackled by conscious or subconscious beliefs about themselves and their potential. They are afraid to take risks and lack certainty because of the stories they tell themselves.
Examples of limiting beliefs are “I’ll never be smart enough,” “I don’t deserve success,” “We don’t have the resources for that kind of growth,” “It isn’t the right time,” “I’m too young/too old” or “I’ve failed, so I’m not good enough.”
If you are struggling with fear or limiting beliefs, coaching for leadership development can be a valuable tool for replacing those limiting beliefs with empowering ones and unlocking your potential.
7. They don’t communicate their vision or expectations clearly
Clarity is power. Leaders fail when they assume people understand a vision they have not clearly communicated. Employees can only take responsibility and thrive when they know exactly what is expected of them.
Instead of saying, “We need to increase our revenue this quarter. Everyone work hard to boost sales,” you can say, “We’d like to see a 15% bump in sales this quarter. We will achieve that by focusing on retaining customers and increasing upsells. Everyone should shoot for four upsell opportunities this week.”
8. They don’t know what influences their team or their customers
The other component of effective communication is understanding how the other person receives the message.
“To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.”
Mediocre leaders communicate in the style they are comfortable with, no matter who they are talking to. Great leaders take time to understand their audience and get to know what influences them. Remember, leadership is influence; whether you are influencing your employees or customers, you must understand what makes them tick.
9. They lack certainty in themselves
A leader who isn’t confident in themselves and their own abilities can’t lead from a place of certainty either. On the other hand, great leaders remain calm, confident and focused even in difficult times.
Leaders instill confidence by first finding it in themselves.
When you believe deep in your core that you can make your vision real, your certainty will influence others to follow your lead and work toward a common goal.
Remember that anyone can learn leadership traits and skills. But you have to awaken your hunger and drive for growth and put in the work to get there. Executive leadership coaching can help you identify your weak points and craft a plan for growth. It can provide you with accountability as you work to become an extraordinary leader.
