In nearly every industry, entrepreneurs are challenging the status quo, re-thinking the world around them and building some incredibly successful companies. In many cases, these entrepreneurs left behind high-paying careers in the traditional corporate world to take on the mission of launching a brand new company with no guarantees of future success. Have you ever wondered what made them so successful? Here are 5 leadership habits that all great entrepreneurs have in common.
#1: Being open to new ideas
If there is one leadership trait that sets all great entrepreneurs apart, it is being open to new ideas. They are genuinely curious about the world around them, and expect their employees to be also. As a result, they place a premium on free thinking and creativity in the workplace. They celebrate employees who are able to find non-conventional solutions to long-time problems. And they take active steps to surround themselves with other people who have new, original ideas. Says, Akshat Thapa, Founder and CEO of NewswireNEXT.
#2: Empowering employees
It’s not just that great leaders are open to new ideas – they give their employees plenty of room to run with those ideas. The classic example here is Google. In its early days, Google was legendary for empowering their employees with “20% time” in which they could dedicate 20% of their week to coming up with new ideas that could power the next wave of growth. To give you an idea of just how powerful this idea is – the Gmail email program that you probably use every day was a result of this Google 20% time.
When most people think of truly great entrepreneurs, they think of charismatic CEOs giving speeches to thousands of people, or of a “great talker” who can get any deal done. However, what most people don’t realize is that it’s also extraordinarily important to listen. Not just to employees – but to customers, investors, suppliers and partners. What are people saying about you in the marketplace? What are customers saying about your products? Once you know the answers to these questions, you can truly develop some world-changing products.
#4: Being able to share a vision of the future
This is where the most successful entrepreneurs really differentiate themselves from everyone else. They have a vision of what the future looks like – and they are able to explain that future to everyone around them. Moreover, they take active steps to ensure that every single facet of an organization is based around this vision of the future – especially when it comes to hiring new employees who are similarly passionate about this mission. The important distinction here is that entrepreneurs do not just answer the “what” of the workplace, but also the “why.” And that makes everyone around them excited to be a part of that workplace.
#5: Being able to learn from failure
You might be wondering what the word “failure” is doing in an article about success. Well, the world’s great entrepreneurs actually value failure more than success, because that is where the real learning takes place. In fact, within Silicon Valley – arguably, the world’s leading hub for innovation – the mantra is “Fail Fast.” If you aren’t failing, then you aren’t really trying anything new. And that is why concepts like the “pivot” are so central to modern entrepreneurship: if something isn’t working as planned, great entrepreneurs aren’t afraid to pivot to a new, better idea.
Once you have mastered these 5 leadership habits, you will be in a better position to drive the future success of your new startup. You will be able to present a strong vision for the future that will excite and empower your employees. And you will be able to establish a platform for future growth that is much stronger than you ever imagined.