Search Results for: 13 qualities of successful

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13 Qualities of Successful Business Leaders

A few years ago I attended a keynote speech from Pat Williams, Senior VP of Orlando Magic. His topic was the “Thirteen Qualities of Winners”.

Williams has had an amazing amount of leadership experience in the sports world at different levels within multiple franchise organizations. Perhaps his biggest venture was establishing the Orlando Magic NBA team, which is where he was at the time of the speech.

After I reviewed his list, it became very clear that the 13 qualities he identified equally apply to business leaders. If a business leader does not have these 13 qualities, they and their business’ potential, will be limited.

I took the liberty of replacing the word “Winners” with “Successful Business Leaders” in the list of 13 qualities below. This list describes the attributes of a successful business leader!

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Your Success is Determined by Your Leadership Ability

The effectiveness of your leadership determines your level of success in all of your endeavors. It doesn’t matter how much money you have, who your parents are, what your education is, or who you know. You will only go as far as your leadership ability is capable of taking you!

If you don’t believe this, just ask the litany of leaders who have failed publicly over the last number of years. People like Martin Shkreli (Turing Pharmaceuticals), Elizabeth Holmes (Theranos), Martin Winterkorn (VW), or Sepp Blatter and Michel Platini (FIFA).

Your Leadership Ability is the Lid on Your Success

Leadership ability is the lid on your success. If you increase your leadership ability, you effectively raise the level of your success!

Back in the late 1990’s when I started to actively lead large teams I realized that I needed as much leadership help as possible. Fortunately, I met many great leaders who actively mentored me as my career developed.

I also discovered other leaders like John C. Maxwell who provides amazing leadership resources like his book “The 21 Irrefutable Laws of Leadership.”

Although I first read this book in the late 90’s, this collection of profound leadership wisdom continues to provide me great insight and guidance to this day! I have never met Mr. Maxwell but I consider him to be an important mentor who has made a huge impact on my life!

Following his 21 irrefutable leadership laws will profoundly impact your leadership abilities! I have outlined each of these laws below.

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What is Effective Business Leadership and Why is it Important?

Being an effective leader is critical in any leadership role. Being an effective business leader is foundational to the success of your business! Without effective leaders, your business will never reach its full potential!

I have seen all kinds of business leaders over the years; destructive, bad, subpar, average, good, excellent, nurturing, multiplying, etc.. In each case, the level of success of the business was directly reflected in the quality of the leader.

The destructive, bad, and subpar leaders have businesses that perform at these same levels and most eventually fail. Average leaders have average businesses while good, great, and excellent leaders create good, great, and excellent businesses! There may be cases where a business will perform above its level of leadership but this never lasts long. The level of business success always settles to the level of leadership effectiveness!

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The 11 Commandments of Business Success

Reid Hoffman, the co-founder of LinkedIn, knows a thing or two about business success. LinkedIn was founded in 2002 and sold in 2016 for $26B USD. Not a bad rate of return for “only” 14 years of work!

Prior to LinkedIn, Hoffman was involved at Apple, started SocialNet.com, and was an integral part of Paypal’s success and its subsequent sale to Ebay. Hoffman knows business so when he shares some of his husiness secrets, we should all take notes!

Recently, he spoke about 11 components to his success on Timothy Ferriss’ podcast (episode 248). Although he calls them commandments of start up success, they apply equally well to any successful business. I have been able to apply each of these commandments in any business that I have been involved with. Doing these 11 things well will definitely accelerate your business!

I have listed each of the 11 commandments below along with my brief commentary on each point.

Reid Hoffman’s 11 Commandments of Start Up Success

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How to Decrease Costs, Drive Growth, and Increase Profits

As most years do, 2016 seemed to come and go rather quickly! It is probably safe to say that 2016 was filled with a lot more challenges than usual for many people . . . especially those who rely on the oil and gas market for their livelihood. Many people lost their jobs and many businesses were shuttered.

However, many business also thrived and grew in 2016. It’s not that these businesses were immune from the downturn but rather were nimble, efficient, and able to adjust and change their focus to find new markets for their products and services.