5 Keys to Successful Leadership of Your Company
Matt Edelman is the CEO, ThisNext Inc. In this video he discusses the 5 keys to for successful leadership of your company.
- Creating time
- Assimilating information
In my experience as a CEO, I’ve been a CEO of two companies; there are five important ingredients to being a successful leader. They don’t necessarily apply only to being a CEO, it could be leading a team but if you can do these five things, you have a great chance to be successful with your goals.
The first is understanding that there is never enough time in the day but it’s your job to create time. You have to figure out how to fit things in when people need them, when your partners need them and when you need them even though it seems like time is the most rare commodity in your day. The opportunity to get things done in an efficient manner is an opportunity you have to take advantage of and that really does—that does mean creating pockets of time that don’t otherwise exist.
The second important ingredient is being able to assimilate information. When you are leading an organization or a team of people, you get information from a number of different touch points. You also end up getting information that your team doesn’t have from touch points outside of your organization. You also tend to pay attention to more macro factors than your team or your or the people in your organization are paying attention to. It’s your job to assimilate all of that information and distill it down into the things that are critical for your team to know and for your organization to do well.
A third component of leadership is decisiveness. There are decisions that have to be made every single day and particularly in leading a small business. Those decisions range from the most granular that you can imagine relating to how your office space should be organized to the most significant in terms of the effect they could have on your company ranging from pricing to financing to partnership agreements. You have to be prepared and ready and able to make decisions and you have to do so confidently. If your decisions are not confident, people will not believe in them, you need your team, your partners, your investors to believe in your decisions, so you’ll have to show decisiveness, even thought your not certain that the decision is correct, you have to convey confidence so that you can lead people in the direction that your decisions require.
A fourth critical component for me has always been humility. There are a number of ways to convey confidence and there are number of ways to lead people but the most successful leaders that I have admired and seen and certainly my success has been because I’m okay being humble. I don’t let my ego get in the way of making a good decision and I don’t ask for people to respect my pride of authorship just because I am the CEO of the organization. Being humble is critical if you want people to follow you and respect you and feel comfortable communicating there own opinions and really putting themselves out there in the most energetic way.
And the final ingredient in my experience is really demonstrating an ability to be level headed. There are going to be things almost everyday in the context of running a small business that cause you anxiety, increase your level of stress, make you feel like the company is headed in a direction that your not excited about and maybe even things that happen maybe not in the given day but a given week to make you nervous about the business is future, particularly in a start up, at early stage business, a venture back business, you have to maintain a level perspective. There isn’t usually any single decision or any single consequence from a decision or development that you may not expect that is going to dramatically alter the course of your company’s life or the possibility for you to achieve success. Take things that happen and allow them to sink in, allow them to settle before you react, stay as calm and as I said level headed as you can in order to have a perspective and then convey a perspective to your team that puts this developments into a proper perspective.
If you can do those things, those five components of leadership, I think you’ll find yourself successful and you’ll find people following the lead that you’re putting forward.