For entrepreneurs who form an LLC, it can be difficult to step away from the work they are attached to and review their leadership methods. Toddi Gutner addresses five common leadership mistakes and how they can be fixed in an article for Entrepreneur magazine.
In order to have time to create a strategic business plan, leaders need to remember to delegate responsibility. This helps owners avoid the mistake of becoming bogged down in day-to-day work.
Gutner also cautions owners not to blend who they are with their business. Ego can get in the way of effectively running a corporation.
Learning how to lead is important, and a step that should not be overlooked. Even if entrepreneurs have natural leadership skills, there may still be more to learn, Gutner advises.
Maintaining a level of trust and communication is key so that employees will feel comfortable giving business owners feedback and suggestions. This is related to another problem Gutner finds some owners face – thinking that they always know best.
The value of employee communication is shown in the Fortune 2010 No. 1 company to work for, SAS, which has made the list each of 13 years. Back when it was a startup company, CEO Jim Goodnight prioritized treating employees “as if they make a difference.”
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