Are You a Business Owner or a Business Leader?
This might come as a surprise to you but being a business owner – even a successful one – doesn’t necessarily make you a business leader. Ownership and leadership are two very different roles with distinct responsibilities within a business. There is also a bit of an implied growth trajectory between these two functions, as everyone who owns a company is by default a business owner. But a business leader? Now that is something special.
The first step to business leadership is learning the art of working ON your business rather than IN your business. This means stepping beyond the daily operations (and sometimes drudgery) of running your business to allow yourself to think bigger and more strategically. Understanding that true leadership is so much more than working in the trenches of your company is key to this game-changing transformation.
Beyond thinking at that higher, more strategic level, business leaders also elevate, motivate, and align the people that surround them. They create a culture in which people want to work and perform at a high level. They have a vision and a mission and instill a sense of forward movement throughout the business.
So how do you know whether you are a business owner or a business leader? Or perhaps more importantly, how can you refocus your efforts to become the business leader you want to be?
Here are four distinctions between a Business Owner and a Business Leader to consider:
- Business Leaders Think Strategically. Many business owners are trapped in a reactive mode or get mired down in the noise of running their daily operations. Business leaders make strategic decisions based on the well-being of the organization, the team, and the future. They think ahead. They think big. They plan.
- Business Leaders Inspire. While business owners usually have an idea of their vision and how they generally want their company to grow, they often lack the insight into how to motivate their team to help them get there. Business leaders understand that there is no success without their people. They foster alignment, promote learning, and encourage innovation. From their management teams all the way down to seasonal interns, true business leaders inspire their employees to do great things.
- Business Leaders Adapt. Business owners often learn how to run their organizations one way and then unwaveringly stick to that formula. True business leaders understand the need for adaptability and are open to taking calculated risks when a pivot is needed. These adaptability skills were lifesavers during the pandemic and will always be aces up the sleeves of business leaders.
- Business Leaders Build Relationships. Business owners have vendors, employees, and other key players with whom they have transactional relationships. That’s not what we are talking about here, as those connections are founded on a strict quid pro quo dynamic. Business leaders are deft at building strong relationships that exist beyond employer-employee or customer-supplier dynamics. Business leaders foster positive interactions and true connections throughout their organizations and each person their business touches.
Of course, every business owner has a vested interest in the overall success of their organization, but it is in their approach to that success that determines whether they are or are destined to become, true business leaders.
If you are a business owner who wants to develop into a business leader, consider joining a TAB Board. TAB Boards are peer advisory boards comprised of business owners and leaders who are present not just to enhance themselves and their companies, but to elevate you and your business as well. TAB Board Members gain hands-on knowledge on how to improve operations, think more strategically, and lead their businesses and teams to success.
Join a TAB Board and learn how to become the business leader you are meant to be.
Gary Brunson
gary@myclearfocus.com
Debra Rider
debra@myclearfocus.com
574.361.2674
Sustainable Growth and profit Consultant, Coach, Mentor, and Counselor/Therapist for Business Owners and Professionals.