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Category: Leadership
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Leadership has a distinctive role to play in business. The leaders put in their inputs in business so that the business moves forward to chalk out development.
Contemporary business is steeped in multiple challenges. Sustainability in business is all the companies focus on. The ultimate objective of business is to gain profits and stay afloat in the competitive market. The role of leadership has become highly important in the workplace, and therefore you will hear about leadership everywhere.
When you talk about Microsoft, Google, and Tesla, you think about Bill Gates, Sundar Pichai, and Elon Musk. They are the greatest business leaders. You can understand why business leadership is important in the workplace as we delve deep into the subject here.
What Is Leadership?
Leadership is the accumulation of thoughts, ideas, behavior, and attitudes that help a business develop the skills to move forward in business. The leaders use these elements to make important decisions in business.
They are vigilant and look practically at the things that they find necessary. They constantly provide their inputs in business and work hard so that the business develops with time and fulfills the aspirations of the stakeholders directly and indirectly related to business.
Strong leadership is the backbone of business development. The main elements of leadership programmes include:
Effective Communication.
Knowing the People.
Knowing Yourself.
Seeking the Future.
Diplomacy
Does your business suffer from leadership development? This is an essential element of business development. Does your business suffer from leadership problems? You must go to seek leadership training in dubai. They are indeed effective for your business development.
The Role Of Leadership In Business Development
The one-liner answer to the question of leadership being really important in a workplace can be easily answered. Yes, leadership is not only important in business development but also helps companies stay competitive. Let’s try to understand the role of leadership in developing business.
1. Influence Employees
The leadership tries different ways to influence the employees. They explain to them the business’s mission, vision, and objective.
At the same time, they lead from the front and influence business decision-making. This is the way that you influence your employees. Employees are the lifeblood of an organization, and leaders need to guide them so that they reach the summit of economic success.
2. Solving The Internal Conflicts
You might have heard that when a company works towards a project, they try to understand the different ways through which things get mitigated. But the flow of business often needs to be improved during the planning stage.
In this stage, the leadership faces ego issues. Eventually, the project failed the deadline. Competent leaders are always visionary; they know how to bring order when mitigating differences.
3. Motivation
The output of a company depends on motivated employees. Therefore the management makes different decisions to keep the employees motivated. But the ultimate work is done by the leadership.
They chalk out planning to keep the motivation levels high. The leadership provides speeches to pump up motivation. Apart from this, they also encourage training and development and work continuously to motivate the employees. Awards rewards also play a part in motivating employees.
4. Increasing The Productivity
Increasing productivity is one of the main things when attaining the company’s objectives. Productivity depends on factors. It is the leaders who do all the planning so that the employees keep motivated. They bring in technology that works to increase the productivity of the organization.
The leaders are great motivators, and they know exactly what to add to increase the organization’s productivity. The team leaders discuss the important aspect of the development and make unanimous decisions on the acquisitions and productivity.
5. Better Decision Making
We all know about the iPhone, launched by iPhone. The product went through questions. The leaders raised questions about the development of the product. But the management made all to launch the product, and the rest is history.
The success of an organization depends on better decision-making. The leadership gives its all and ensures the organization makes the best decision for the company’s sake.
Closing The Discussion
There is no doubt about the fact that decision-making plays an important role in the development of an organization. Leadership inputs play a part so that the organization emerges victorious and stays floating in the contemporary market. We hope you have understood how valuable leadership is for your business.
Leadership training is the deliberate process of cultivating an individual’s strengths and competencies to collaborate more successfully with others.
Leadership training is the deliberate process of cultivating an individual’s strengths and competencies to collaborate more successfully with others. Effective business coaching, communication skills, and recognizing the effects of diverse leadership styles are all common topics in leadership training.
Mentoring connections or a more established executive coaching program are common for these coaching encounters. But where do you look for an ideal program and a leadership coach India? Opt for a training course that possesses all six of the traits listed below:
An environment that is both safe and supportive
According to the International Coaching Federation, coaching is defined as “partnering with individuals in a creative and thought-provoking process that motivates them to achieve their professional and personal potential,” according to the International Coaching Federation.
It’s vital to find a coach who is a good fit for you and helps you achieve your goals. If you like being able to relax and open up to someone, you must feel comfortable being vulnerable with them. Coaches and students don’t always get along.
It’s fine to go on if, after some coaching sessions, you still don’t think that it’s a good fit. A clash in personality, coaching style, or even timetable could be the cause. The development of an effective coaching relationship necessitates rapport and comfort.
Assists you in achieving your goals
You, not the coach, are the authority on yourself. Look for a program and a coach who doesn’t have their definition of success for you. Knowing what you need from coaching will help you find the greatest fit for you and help you achieve your goals.
Move on to a different development program or coach if a coach tries to sell you on their plan based on their own experiences or what works best for them.
Provides detailed and focused feedback
Some of the most effective leadership trainers can operate as mirrors. They reflect on what they see and hear back to the group, raising awareness, and are loving and nonjudgmental. This allows you to identify your weak spots and go forwards with identifying effective remedies.
Instead of letting you vent without advancing towards your goals, look for a coach and a coaching program eager to do the hard work with you.
Duration of the relationship
The majority of coaching programs last between three and twelve months. Recent data reveals that substantial and sustained growth takes at least six months. Beyond that, the optimum timeframe will be determined by the objectives you want to accomplish and the amount of time you have to devote to them.
Consistency is essential
Look for a leadership coach in India who will meet with you weekly or biweekly, especially when you first start working together. It’s critical to maintain consistency as you go towards your objectives. You’ll need a dependable coach and program who will turn up and hold you responsible regularly. Your chances of attaining your intended result are greatly reduced if you lack consistency.
They keep you on the right track with equipment and ensure you’re getting the most out of them.
Many programs and coaches provide resources and methodologies to help with coaching. While one is not inherently superior to the other, you need a coach and a programme that will hold you responsible and provide you with tools to help you reach your maximum potential if they have to measure tools to track your development during the coaching process.
Fostering leaders is among the most critical things you could do to ensure your company’s success. Leaders aren’t born, and they’re certainly not made. They’re created via deliberate effort, assistance, and feedback. Leadership coaching’s a tremendous tool for investing in the health and development of your most valuable resource.
In any workplace, be it a local firm or a world-famous organization, having a great leader is very important.
In any workplace, be it a local firm or a world-famous organization, having a great leader is very important. However, no one is a born leader. With proper training, experience, and development, people can gather skills to shape organizations and committees. Hence, leadership development is significant for shaping the leaders of the future.
Integrity entails having strong morals and ethical principles. If a leader doesn’t have integrity, he or she won’t be able to lead others. The reason is simple, it is a significant factor when making important decisions that influence the future of the organization. With integrity, taking proper decisions become relatively easy.
Delegation Ability
A good leader should also be able to delegate appropriately. With proper delegation, reports can be approved, teamwork can be facilitated, and autonomy can be initiated. This will directly help in growing the reports. The leader should have trust in the team for delegation.
Communication Ability
In any leadership development camp, extra emphasis is given to communication. A leader can go nowhere if the communication between him and the rest of the team is restrictive. A leader should be able to communicate to express his thoughts correctly freely. At the same time, he should be able to understand exactly what his teammates are conveying.
Self-Awareness
A leader who isn’t self-aware can never be a good leader. Without evaluating yourself, you cannot strengthen your weaknesses and polish your strengths. To be more effective, a leader needs to understand himself first.
Showing Gratitude
Showing gratitude is one of the primary traits that any good leader should have. You can be extremely strict about making sure your employees are working as they should. However, it is also your job as a leader to thank them for their hard work. This will make the employees want to work, as their efforts are recognized.
Agility in Learning
Even a good leader may not know what to do in some unforeseen situations. What makes good leaders stand out from other leaders is how quickly they will learn what to do. Anyone who can manage unfamiliar situations simply after quick learning or will be a great leader.
Having Influence
Great leaders should also have their influence. This doesn’t necessarily mean manipulation. However, a leader should convince others of a theory or idea with emotional and logical appeals backed with facts. With intelligence, leaders can create an influence that the rest of the team can feel and trust.
Having Empathy
To be a great leader, showing empathy based on the results and performances is a must. The workplace condition improves by a lot, and team members can get the emotional support they need. By showing empathy correctly, the entire performance of the team can be increased by leaps and bounds.
Courageous
Another must-have skill that is a part of leadership development includes having courage. A good leader should never be afraid of trying something new, taking problems head-on, reporting problems, or discussing sensitive issues with the team members. If a leader cannot show courage, the rest will not have any actual progress anywhere.
Showing Respect
Finally, a great leader should always respect his teammates and co-workers, irrespective of the situation. Even on negative performances, disrespecting a person should never be the option. This can keep tensions apart in the workplace and gather trust and positive energy for working.
Final Words
A person who isn’t a good leader now can become a great leader in the future. It all comes down to having these skills to be able to lead others. With practice, endurance, dedication, and training, it is possible to form good leaders who can shape the future, no matter where they work.
As a business owner, it’s your job to lead the charge toward success. If you want to succeed as a business leader, these are the aspects you should work on.
According to Investopedia, one of the reasons so many small businesses fail is due to a lack of effective management.
That’s because few startups can afford the luxury of hiring highly-skilled managers to get things done for them. As a business owner, it’s your job to lead the charge toward success.
If you want to succeed as a business leader, these are the aspects you should work on.
Faith and Vision
To succeed in business, you must have an enormous amount of faith in what you’re doing and how you plan to succeed at it. This conviction inspires others to rally behind your cause and helps them see their role in the way forward.
Nobody wants to follow someone who doesn’t know where they’re going. Likewise, nobody wants to spend their time at work performing mundane tasks with no goal in sight.
If you are motivated by an unshakeable belief in your goal and can articulate it to your employees, they’ll follow your lead regardless of your MBTI type.
Integrity and Fearlessness
When you go about your daily business with integrity, you have nothing to fear. Doing the right thing no-matter-what will earn you the respect of your subordinates and your peers and engenders their trust.
With no skeletons in your closet, you’ll find that you have the courage to take the risks necessary to succeed in business and you’ll have the support you need to succeed.
Humility
Arrogance is the downfall of many people in leadership positions. If you want people to follow your lead, you must get them to like you first.
When people genuinely like and respect you, they want you to succeed.
The key to this is humility. A humble and gracious leader attracts more loyal followers than even the most accomplished business guru.
Share the credit when things go well and admit your mistakes when they don’t.
One way to practice humility is to get your hands dirty. When there are big tasks to complete, join in. The best way to get your team to look up to you is to get down in the trenches with them when there’s important work in progress.
If you can’t assist with their tasks, you can at least offer to make the coffee or fetch snacks to fuel their efforts.
Know Your Stuff
Expert strategic planning is vital for business success. Stay on top of the latest trends in your industry and learn to predict what might happen next.
Strategic planning is an integral part of any business, and getting good at it will set you up as a trustworthy and convincing leader.
Communication Skills
Whether you’re dealing with colleagues or customers, what you say is never as important as how you say it.
Clear, concise communication is the key to getting your point across and getting everyone moving in the same direction. Many natural leaders are also good communicators.
If you aren’t naturally good at speaking effectively and convincingly, a short course in public speaking can help you fine-tune your skills.
Become a Better Business Leader
Every successful business leader should have an insatiable appetite for information on ways to improve and grow their business.
So, if you want more useful information on the best business hacks and tips, keep reading our blog. Better yet, sign up for our newsletter, and we’ll let you know whenever new information’s available.
There are aspects of the entrepreneurial mindset that will enrich your work and life. Here are 8 things entrepreneurial people do differently.
Entrepreneurship goes beyond Elon Musk, Mark Zuckerberg, and Garrett Camp, and it embodies something bigger than Twitter and WhatsApp. Entrepreneurship is a mindset, an attitude, and a lifestyle adopted by people who aren’t satisfied with the status quo.
It’s an approach to life that favors creativity over conformity and action over inaction. Bestselling author, investor, and entrepreneur James Altucher says that for him, “Being an ‘entrepreneur’ doesn’t mean starting the next Facebook. Or even starting any business at all. It means finding the challenges you have in your life, and determining creative ways to overcome those challenges.”
So, even if you’re not tinkering away at the next world-changing invention or looking to set up shop in Silicon Valley, there are aspects of the entrepreneurial mindset that will enrich your work and life. Here are 8 things entrepreneurial people do differently.
They’re brave enough to commit to their dreams.
Entrepreneurs choose to forego the security and familiarity of a ‘regular job’ to live an uncertain and insecure lifestyle. It takes a lot of bravery to make that tradeoff, but for icons like Walt Disney, the potential reward is worth it.
They think of their customers more than themselves.
Entrepreneurs are rarely out to seek fame for themselves. Instead, they’re more concerned with the people they want to help or the problem they want to solve. This infuses their task with a layer of meaning that can be the difference between success and failure when things get tough. In his book, APE – Author, Publisher, Entrepreneur, former Apple chief evangelist Guy Kawasaki writes, “In your darkest, most frustrated hours, remember the value you are trying to add to peoples’ lives, the satisfaction you’ll feel, or the cause that you’ll further.”
They never stop learning.
Since they’re in the business of creating new products and inventing new ways of doing things, much of what entrepreneurs do can’t be taught in a classroom. They know that the most important lessons are learned through living, so throughout their lives, they remain open, flexible, and curious in order to absorb as much as possible.
Richard Branson, founder of Virgin Group, started off with a small student magazine, before eventually growing a string of record stores, a music label, an airline, and now even a commercial spaceflight company. Rather than becoming an expert in one area, he continued to learn and adapt throughout his life.
They never give up.
Rarely does an inventor or entrepreneur succeed on the first try. To create something lasting and worthwhile, it usually takes years of hard work, focus, and dedication; an idea is just a starting point. Kelly Zen-Yie Tsai, a spoken word poet and the founder of a production company, believes this level of persistence is a critical element of entrepreneurship. “That’s what it means to be an entrepreneur: to really focus on that one thing that does not exist yet and keep working towards it until it becomes real,” she says.
They love failing.
For most of us, the fear of failure is entirely paralyzing, but for entrepreneurs, failure is something to embrace. It’s an indication of pushing the limits, and inevitable when one is constantly trying new things.
They find and fill a need of the world.
Entrepreneurs want to do more than indulge their own interests — they want to solve a problem or create a product that satisfies a need.
Some started businesses because of frustration with an inefficient or defective system. Others were moved by a personal encounter with poverty or misfortune. Blake Mycoskie, the founder of TOMS, started his business after traveling to Argentina and seeing kids who didn’t have shoes: “An absence that didn’t just complicate every aspect of their lives — including essentials like attending school and getting water from the local well — but also exposed them to a wide range of diseases,” he writes in Start Something That Matters.
They take old ideas and make them way, way better.
While one might think that entrepreneurs are focused mainly on never-seen-before ideas, they often revamp an existing model or upgrade an outdated product. Sometimes, these reinvented ideas change the way we exercise, read, or eat.
And once in a while, they revolutionize ice cream.
Ben Cohen and Jerry Greenfield, the co-founders of Ben & Jerry’s ice cream, started out in a renovated gas station in Burlington, Vermont, before growing a globally recognized brand that features unusual flavors like ‘Cherry Garcia’ and ‘Hazed & Confused.’ They’re also pioneers in the socially responsible business movement, speaking often about how business can give back to the community and earning Ben & Jerry’s a B-Corporation certification.
Above all, they act.
Entrepreneurs execute when for many others, an idea simply fades into the past. They are masters of turning the abstract into the concrete. This seemingly simple action is one of the great challenges of life and in the end, it’s what defines an entrepreneur.
In 2015, Siddharth started to think of ways to do something that would stop rapes and came up with an anti rape slipper.
Rapes in India have become a common affair and even after the entire Nirbhaya gangrape incident, things haven’t changed. In fact, the latest Hathras incident is proof that women and even little girls aren’t completely safe in India.
There are several of us who do call out against these actions but has anyone of us done anything yet? The answer would be a straight no. However, Siddharth Mandala who in 2015, at the age of 15 decided that enough was enough.
Siddharth’s mother was one of the women who partook the protests and campaigns during the Nirbhaya incident. In fact, he at the age of 12 was also a part of protests alongside his mother.
In 2015, Siddharth started to think of ways to do something that would stop rapes. It was then when he decided to use the Piezoelectric effect which turns mechanical stress into electrical energy. This was his base for a footwear which he named as the Electroslipper. It took him 17 attempts and 2 years to perfect the Electroslipper.
He said that it may be that women forget to carry a pepper spray or a swiss knife, a taser, but no one forgets wearing shoes before leaving from home.
The Electroslipper is battery operated and has a GPS device as well, it will first electrocute the attacker and even send the location of the one wearing it to family members and even the police.
Dhoni’s leadership style offers invaluable lessons to managers/entrepreneurs at all levels. Here’s why.
MS Dhoni, India’s most successful cricket captain, is well on his way to be regarded as one of the greatest leaders the game has seen. In the past, people have attributed his success to luck, timing, good fortune and the like. But on closer analysis of his success, we see a clear pattern emerging.
Dhoni’s leadership style offers invaluable lessons to managers/entrepreneurs at all levels. Here’s why:
1. Gets Shit Done
Dhoni is great at delegating but when faced with pressure situations, he led by example. For example, take the case of promoting himself in the batting order in the World Cup final versus Sri Lanka.
2. Strategic Thinker
Dhoni makes plans before they are required. He always has a plan and knows the strengths and weaknesses of his troop as well as his opponents more than the opponent knows themselves. Remember the time he told Robin Uthappa to bowl during the bowl-out in T20 final against Pakistan? He had seen Uthappa repeatedly hit the stumps in the nets.
3. Right Ambition
He has no personal ambitions. He does not care about being the best batsman or the best wicketkeeper. He enables his team to become those, caring only for the success of the team. I remember a time when he got nicked off at 99 and the bowler asked him if there was a nick and he said, “Yes” He plays for something bigger than himself.
4. Courage & Instinct
Dhoni has the courage that is needed to take risks with partial information. He calculates and plans, but sticks to his guns if he believes it’s the right thing to do for India. For instance, take Rohit Sharma’s case – he was out of form but Dhoni believed in his calibre when the country was making fun of his decisions.
5. Manages His Psychology Well
How easy would it be for Dhoni to lose his cool? Billions watching his every move and a billion hearts expecting India to win. His most redeeming quality is his calm, when faced with a mountain of pressure. If you’re an entrepreneur, managing your own head is the toughest thing to do, and Dhoni does it really well.
6. Uninhibited style
Hailing from a humble background, Dhoni never let this aspect hinder his style or behaviour. In fact, he managed to channelise this raw rustic energy to his on-field performances.
He was never shy of expressing himself in any given situation. In a competitive world, you are often judged by your past or stereotyped and it is important to maintain a positive ego at all times.
7. Managing egos
In a hierarchyled environment, Dhoni was catapulted to captaincy ahead of several established players in a team laden with stars and former captains.
He took his time and didn’t interfere in their proven methods and managed to extract the best out of these stars at most times without ruffling feathers. Many young managers who inherit legacy organisations face this challenge at the workplace.
8. Change management
Dhoni did not rush through with change in personnel and team culture. He first established his credibility and over time dealt with these issues and managed the transition through the process of natural attrition and performance management.
Most CEOs confronted with change management issues at the workplace will do well to take a leaf out of MSD’s book and not take the “bull in a china shop” approach while dealing with change.
9. Managing success
Dhoni dealt with his early success with a lot of maturity with his feet firmly on the ground, which eventually led to his elevation. It requires a great degree of level headedness and humility to handle fame and money at an early age.
In a corporate context, early success need not lead to brash behaviour towards colleagues and customers. We have seen that, at times, young managers who see success early lose their balance and face early career burnouts.
10. Managing pressure
Ability to stay calm and keep his cool with a seemingly uncluttered mind is Dhoni’s greatest gift as a leader. This soothes the nerves of the rest of the team and ensures that they stay focused and continue to believe in themselves.
Dhoni is a lesson for all leaders in terms of their ability to manage extremely stressful work environments. Managing periods of high stress without losing your composure is the key to long-term success and good health.
11. Focus
Dhoni has immense ability to insulate himself from the surrounding environment and continue to focus on the job. The current Champions Trophy campaign is a case in point in the wake of the IPL controversy.
In a corporate context, it is vital for managers to stay positive and focus on the task at hand and avoid distractions and negative energies in play at the workplace.
12. Instinct
There are occasions when managers forget the ‘gut factor’ in decision making when confronted with data. Dhoni has often followed his instinct and on most occasions has been proved right.
At the recently concluded Champions Trophy final against England, while data would have dictated that he choose Umesh Yadav to bowl one more over, he chose Ishant Sharma for the crucial over which turned the match for India.
13. Managing failure
After the heady success of the World Cup 2011, it was just downhill for Dhoni and his team. After a string of embarrassing losses, it required great character and attitude to bounce back.
He did this in style and answered all his critics with the sheer weight of his performance once again. At the workplace, failure has to be dealt with the same fashion as success and one has to continue to be focused on the job at hand.
14. Invokes respect in the rivals
By his mere presence, calmness and body language Dhoni invokes great respect and fear in the opposition camp.
In a work environment, it takes a great deal to be respected by competition who would be itching to have you on the other side of the fence. This comes through sheer performance and acknowledgement from your internal and external stakeholders.
15. Backs his people
He places immense trust on his people and backs them to deliver. This allows them to express themselves freely without the fear of failure.
At the workplace, team members reciprocate and feel a sense of responsibility based on the trust shown by their leaders on them.
16. Versatile
Dhoni is hands on, is versatile and can adapt to any situation. He plays all the three formats of the game, can bat in any position, keep wickets and can roll his arm over if required. Versatility and adaptability is the key for long-term success for executives.
As a leader Dhoni is aware that the spotlight is on him but he never hogs the limelight. He keeps a check on his emotions all the time both in victory and defeat. He still has lot of cricket left in him and perhaps, for us, there are more lessons to learn from him.
What exactly do great leaders do that sets them above the rest? Here’s a compilation of the best leadership tips for any startup founder that will help you along your journey.
Founding your own company is a brave and exciting choice. As the founder, it’s your responsibility to be a great leader. If you want to see your start-up not only survive but also thrive you need to be at the helm striving to be your very best. Your actions will have a serious trickle-down effect, especially if your company takes off. How do you know you’re leading to your fullest extent? What exactly do great leaders do that sets them above the rest? Here’s a compilation of the best leadership tips for any startup founder that will help you along your journey.
Promote your company in a way that makes you look polished
Even if you’re just starting out and operating from the inside of someone’s garage, the way you market your company to potential clients and on social media can make all the difference. You may already be in fierce competition with another start-up that has a similar vision. Before you’ve built client relationships-resulting in positive word-of-mouth and referrals-you need to be able to attract potential client’s attention away from your competitors. One way you can do this is with a professional introductory video.
When your start-up is new, it might not be clear what exactly you do. Clients like to go with a known variable. By making a video that introduces your company by explaining what kind of services you’re offering and interviewing some of your staff, your company is no longer shrouded in mystery. The unfamiliar is now familiar and potential clients feel like they’re taking much less of a risk hiring your team.
You’ve already got a lot on your plate trying to run your business. Don’t feel like you need to take care of this video yourself. Consider hiring a videography company in Los Angeles to make you an incredible introductory video. By outsourcing this project, you’ll get quality media and never have to lift a finger.
Look to the future
If you can’t see the forest for the trees, you’re going to find yourself visionless. How do you lead your company without a vision? Although, it’s important to have a pulse on the climate of your start-up from day to day, being able to see past the first few months of operation will ensure your company’s longevity.
This is particularly true when it comes to your financial situation. What’s your long-term plan? Are you investing in places that will give your company the numbers it needs? If you’re looking for financial advice like this, look to the long-standing professionals for your advice.
Mark Wiseman is a global investment manager and business executive who has been navigating the economy for well over a decade. He understands your potential hesitancy over investing right now due to the declining global economy from the pandemic.
However, Wiseman feels it’s actually a great time to get in on the ground floor of investment while buy-in is so low. He cites how “if you stand close, you can see the violent downward swings brought on by the Great Depression, 9/11 and the global financial crisis. Take two or three steps back, those moments are no longer noticeable. All [you] can see is an upward curve.” In other words, your investments will ultimately grow—no matter how hard they’re hit—over a long period of time. If you can, look to the future now and invest.
Engage as much as you feel necessary
When starting a business, you want to throw everything you have into it. According to Forbes, it might not be best to listen to the people encouraging you to find work-life balance while you’re trying to get your company off of the ground, because fast “developing business areas…require constant engagement with the industry.” Follow your gut. You’ll know when you can finally take your foot off the gas.
Together, Barbara Bradley and Patricia R. Miller founded Vera Bradley, a popular American handbag, and luggage design company.
Inspiration can come from anyone at any time. Homemakers can do wonders too, Barbara and Patricia proved it right by building a new business with just Rs 32000 investment together.
Together, Barbara Bradley and Patricia R. Miller founded Vera Bradley, a popular American handbag, and luggage design company. They are two of America’s most successful self-made women according to Forbes.
“If you have an idea run with it. Don’t think twice, just go with it like I did.” said a very successful woman to those who are looking to start their own business.
The success story of Vera Bradley, a superhit brand has its own interesting back stories and the extremely unexpected beginning.
It was 1982, when Barbara Bradley Baekgaard and her close friend as well as neighbour, Patricia Miller were boarding a flight from Atlanta. They tend to notice how uninteresting women’s travel bags looked at the airport. The lack of feminine looks on the luggage bags disappointed them completely and that is when they decided to create their own brand.
Both Barbara and Patricia were homemakers and did not have money to fund their company. They decided to borrow $250 which comes upto Rs. 16,000 now each from their husbands. Out of that, they both purchased some floral, quilting fabric made in USA to make the colourful bags.
Their initial workplace was Barbara’s basement. They put up an advertisement in the newspaper for people who wished to take up sewing work from their homes. They cut fabric out in a Ping Pong table and put it with zipper and other elements in a bag. Later, this bag was passed on to women who took it home to sew.
Their important source of inspiration was Barbara’s mother, a former model and that is how the company was named after her name, Vera Bradley.
They soon ran out of funds and needed more to take their work ahead. Just then, friend of theirs who believed in their idea, gave them cheque of $2,500 which is around Rs. 1,60,000. He said, “If they were successful it was a loan. If they were not, it was a gift.” That cheque worked like magic for them and helped them achieve great heights.
In the first year, they sold products for $10000 (Rs.6.44 lakh) and by the end of third year, the revenue was $1 million.
In the year 1984, these two ladies decided to rent a space for sewing so that they could concentrate on marketing and sales alone. In the beginning, they had no idea about how to price the bags or do a cost analysis. It is then that they got in touch with SCORE (Service Corps of Retired Executives), a non-profit organisation providing free business mentoring to the entrepreneurs and there, a volunteer was appointed to help them.
The sales touched the sky when they started calling the stores and showcasing their bags. In 2007, Barbara and Patricia open their first retail store. Customers from the age group of 8 to 80 visited their store.
According to the designers, the designs were created after keeping the American taste in mind. They have also launched a wide variety of baby bags, student backpacks and accessories. Some of the bags are also inspired by English and French designs. For both the ladies, the business has seen the growth because of their family and friends.
Barbara still remembers what her father said to her that ‘In business, you sell yourself first, your company second and the product third. Business is all about forming relationships and having company that reflects your value.”
Early in the 1990s, Barbara and Patricia lost a close friend to breast cancer. They then decided to establish the Vera Bradley Foundation for Breast Cancer which has donated more than $10 million to the Indiana University Cancer Centre. Barbara Bradley and Patricia Miller have now become quite famous because of their business.
From homemakers to founders of a brand whose annual sales is over $550 million. The true friendship of theirs has always been the cornerstone of success of their brand, Vera Bradley. The label, Vera Bradley is known for colourful prints and high quilted cotton bags today. Amongst the various other American brands, this brand has become one of the favourites.
From just handbags, the brand has now expanded their product offerings to clothing, jewellery, eyewear, fragrance as well. Barbara’s and Patricia’s journey are truly inspirational which started with a workspace of a ping-pong table and a wonderful idea in 1982.
Reliance Industries Limited (RIL) has announced private equity firm, KKR will be investing Rs. 11,367 crore in Jio Platforms for 2.32% stake.
Reliance Industries Limited (RIL) has announced private equity firm, KKR will be investing Rs. 11,367 crore in Jio Platforms for 2.32% stake. RIL will have the 5th investment through KKR. In succession, following those by social media giants Facebook, private equity funds Silver Lake, Vista Equity Partners and General Atlantic
RIL said during a release “This transaction values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.”
The recent deal will give Jio Platforms a combined Rs. 78,562 crores from the five investments. The RIL unit comprises mostly of its Telecom business under Reliance Jio Infocomm which is the largest in the country with quite 388 million subscribers.
“KKR shares our ambitious goal of building a premier Digital Society in India. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio.” said Chairman and Managing Director Mukesh Ambani in a statement on Friday. The company said, ‘the transaction is subject to regulatory and other customer approvals.’
Prior to this, General Atlantic on May 18 said that it would buy 1.34% stake in Jio Platforms for rupees 6,598.38 crore, while Vista Equity Partners said on May 8 that it would be picking up a 2.32% stake for Rs. 11,367 crore.
Prior to that, US private equity firm Silver Lake said that it would invest Rs. 5,655.75 crore in Jio Platforms for 1.15% stake and on April 22, Facebook said that it would invest USD 5.7 billion for 9.99% stake.
To achieve debt-free status in close to year, RIL opened Rs. 53,215 crore rights issue for subscription on Monday RIL raised a total capital of Rs. 1,20,320 crores after its last four deals. At the end of financial year 2020, the total debt of the company amounted to Rs. 1,61,035 crores.
As a part of proposed rights issue, RIL shareholders were offered a new share for every 15 held at Rs. 1,257 a share. In the past three decades, this is the first right issue by RIL. The structure of the issue was partly paid shares and enabled shareholders to phase out the outlay on their investment.
“Few companies have potential to transform countries digital ecosystem in the way that Jio Platforms is doing in India and potentially worldwide. Jio Platforms is its true homegrown next generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution. We are investing behind Jio Platforms impressive momentum, world-class innovation and strong leadership team, and we view this landmark investment is a strong indicator of KKR’s commitment to supporting leading technology companies in India and Asia Pacific.” said Henry Kravis Co-Founder and Co-CEO of KKR during a statement on Friday.
KKR features a long history of building leading global enterprises and investing in businesses in technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds. Since foundation, the firm has invested over USD 30 billion (total enterprise value) in tech companies and today the firm’s technology portfolio has 20 plus companies across the Technology, Media and Telecom sectors.
Sachin Bansal has made several investments into companies and start-ups such as Altico Capital, U Gro Capital, IndoStar Capital, Vogo, Bounce, KrazyBee, Ola, Bansal attended Indian Institute of Technology Delhi and completed a degree in Computer Engineering in 2005. After graduation, Bansal worked at Techspan for a few months and later in 2006 he joined Amazon Web Services as a Senior Software Engineer.
Sachin Bansal has been appointed as the Managing Director of his second Bengaluru-based Fintech venture– Navi Technologies earlier known as BACQ. He recently led an over Rs 3,000 crore round in his new venture. He co-founded Navi Technologies with Ankit Agarwal. Navi Technologies had earlier acquired a majority stake in Chaitanya Rural Intermediation Development Services (CRIDS) that is into the micro-finance space.
His giant size investment in the FinTech sector is an indication of an upcoming revolution in this specific industry. It includes investments into companies such as Altico Capital, U Gro Capital, IndoStar Capital, and the acquisition of mutual fund business of Essel Group.
Many of the high net-worth individuals and venture funds have invested in Navi Technologies. Recently, Gaja Capital had invested Rs 204 crore.
Sachin Bansal is most known as the co-founder of the e-commerce giant, Flipkart. However, in the year 2018, when Walmart acquired Flipkart, Bansal exited the company. Moreover, since the year 2014, Sachin Bansal has invested in 18 startups with teh deal size being 1-2 million dollars. In fact, in the year 2019, he invested 100 million dollars in Ola cabs wherein he received a stake of 0.37%.
As on february 2019, Sachin Bansal has already had investments in Unacademy, TeamIndus, Ola, Grey Orange, In Shorts, SigTuple, and Ather Energy.
Ritesh Agarwal’s net worth is around INR 7253 crore which is $1.1 billion dollars as per the Hurun Rich List 2020 making him the world’s youngest self made billionaire after the famous Kylie Jenner.
OYO rooms has been one of the most successful start-ups in India being the country’s largest budget hotel chain. OYO has over 23,000 hotels, 8,50,000 rooms and 46,000 vacation homes across the globe. In the Oyo model, hotels are not owned, instead Oyo ties up with certain hotels and acquires a few rooms to be given to people who want to avail the services of OYO. It focuses on standardizing the hotels in the non-branded hospitality sector. Oyo rooms has been one of the most successful ventures as it has managed to solve the issue of affordability, cleanliness as well as availability of budget hotels across all Tier-I and Tier-II cities in the country.
Well, it is all the brainchild of the man with the OYO vision, Ritesh Agarwal, a successful entrepreneur is just 26 years old and has had several accolades to his credit. Born to a humble family in Cuttack, his journey of becoming one of the most successful entrepreneurs wasn’t a walk in the park. In fact, in the era of start-ups, he had to face several difficulties in trying to make his unconventional idea work.
Ritesh Agarwal gained enough success by understanding business needs and building something that people want. It’s not always easy to get a start up funded. But nowadays you don’t have to travel to silicon valley and have lunch with venture capitalists to get money. Try looking for an online loan broker for funding your start up.
Here’s some more you should know about the man behind OYO rooms:
1. Ritesh Agarwal is a college drop-out
To pursue his passion of becoming an entrepreneur, he enrolled into Indian School of Business & Finance, Delhi however he did leave college mid-way to start his own company. He was hesitant about his decision but he took some tough choices to accomplish his dreams.
2. Before OYO, there was Oravel
Ritesh Agarwal has been a wayfarer himself and travelled across the country before launching OYO and during such travels he discovered the problem with budget hotels. Thus at the mere age of 17, he launched Oravel travels, which he modelled after Airbnb. However, it later branched out to become OYO rooms. He had discovered that the problem with budget hotels was bigger than just availability, so, to counter other issues, he launched OYO.
3. The sole resident Asian to have won a Thiel fellowship
The year he launched Oravel travels, he was nominated for the Thiel fellowship. The fellowship is designed by Peter Thiel, the founder of PayPal and provided a college drop-out, less than 22 years of age, a sum of $100,000 to pursue a start-up dream. Needless to say, he has been the only Indian to receive it.
Ritesh Agarwal who is merely 26 years old, has certain awards and credentials to his name, some of which are:
– Forbes “30 under 30” in the consumer tech sector
– Top 50 entrepreneurs in 2013 by TATA First Dot powered by NEN awards
– TiE-Lumis Entrepreneurial Excellence award in 2014
– Business World young entrepreneur award
5. Apart from an entrepreneur, he is an author, a coder and a great orator
At a young age, his book- A complete Encyclopaedia of top 100 engineering colleges, was published and soon became a best seller. Agarwal started coding at the tender age of 8 and at the age of 16, he got a chance to be one of the 240 students who were a part of an Asian camp held at the Tata Institute of Fundamental Research. He was the youngest speaker in the panel of Think EDU panel,2014 and is a constant at VCCircle events.
6. World’s Youngest Self Made Billionare after Kylie Jenner
Oyo rooms raised $1 billion in September 2018, even a year after that in July 2019 Ritesh Agarwal bought $2 billion in shares in the company, which tripled his shares. In the year 2020, Agarwal’s net worth is around INR 7253 crore which is $1.1 billion dollars as per the Hurun Rich List 2020 making him the world’s youngest self made billionaire after the famous Kylie Jenner.
In this time of crisis, the celebrities have been trying to help everyone out to their best capabilities by donating as much as possible.
In this time of crisis, the celebrities have been trying to help everyone out to their best capabilities by donating as much as possible. Recently, Shah Rukh Khan as well announced a series of initiatives to help citizens.
The actor has taken the help of his companies:
Kolkata Knight Riders
Red Chillies Entertainment
Meer Foundation
Red Chillies VFX
to provide support to the governments.
“Given the enormity of the task, my team and I discussed ways to contribute in our own modest way. We have come up with a series of initiatives, which we hope will make a small difference,” he said in a statement posted on the Twitter handle of Red Chillies.
In a seven point plan, Khan revealed contributions via his various businesses to multiple funds, an effort to help supply 50,000 items of PPE equipment for health workers, and a pledge to provide daily meals to more than 5,500 families in the city of Mumbai, as well as a kitchen that will make 2,000 daily meals to serve homes and hospitals.
The actor lauded the efforts of Prime Minister Narendra Modi and chief ministers of the states, particularly naming Uddhav Thackeray, Mamata Banerjee, and Arvind Kejriwal, in the fight against the COVID-19.
Bollywood celebs such as Salman Khan, Akshay Kumar, Hrithik Roshan, Hema Malini, Rajinikanth, and few others have also made the donations for India’s fight against COVID-19. Varun Dhawan as well, made a donation of 55 Lakhs total between PM-CARES Fund and CM Relief Fund.
Paytm will give 5 crore rupees to Indian researchers for developing indigenous ventilators for COVID-19 patients.
In a big announcement, founder and CEO of digital payments company Paytm, Vijay Shekhar Sharma has tweeted that Paytm will provide five crore rupees to researchers of IISC for developing indigenous ventilators for coronavirus patients.
Vijay Shekhar in his tweet said that “We need more Indian innovators to start building such indigenous solutions for potential ventilators shortage and other COVID cures. @Paytm commits ₹5 crore for such teams working on COVID related medical solutions.”
This announcement was in response to a tweet of Professor Gaurav Banerjee of IISC Bangalore where he tried to reach out to biomedical engineers to help his team in developing ventilators by using Indian ingredients.
Professor Banerjee mentioned that they are being ready in case it becomes worse. This step can prove to be a boon when major suppliers in the country have said that they have acute shortage of ventilators.
Banerjee in his tweet has said “I am reaching out to my network to get in touch with a biomedical engineer with Clinical ventilator experience who handles mechanical ventilators on a daily basis. We are a small team of Aerospace and electrical engineers mostly from IISc trying to put together a prototype ventilator using Indian ingredients on an emergency basis. The intent is to be ready if the COVID-19 situation becomes worse.”
Vijay Shekhar Sharma in his earlier announcement said that he will not draw his salary for next two months to help those employees infected by the pandemic. His decision was inspired by Marriott international President and CEO of Arne Sorenson.
Are you trying to learn how to become a better leader? If yes, you should check out some of our best tips by clicking right here.
More than 53 percent of the American workforce is currently unhappy at their jobs.
While the reasons run the gambit, that unhappiness often comes down to dissatisfaction with their managers and leadership team.
Becoming a better leader for your employees is essential for your company’s growth. Unfortunately, finding ways to improve isn’t always easy.
If you’re wondering how to become a better leader, don’t despair. Check out these great tips and start implementing them immediately.
Be Involved Every Day
Great leaders are good at what they do because they understand the why behind every action and decision. You need to understand your business’s mission, values, and needs every step of the way.
When you know what your company’s goals are, you’re better prepared to outline the necessary steps to reach those goals.
For most leaders, this means working alongside their teams, identifying challenges and strengths every day, and finding ways to implement changes quickly. If you distance yourself from the day-to-day operations, you won’t be able to keep up with your company’s changing needs.
Lead By Example
Bosses can give orders, but employees aren’t always inclined to follow them if they don’t see how those orders will impact the company. This is especially true of the boss doesn’t get out of their office and show them why it’s important to take care of those tasks.
Great leaders lead by example. When you show your team what you want them to do and actively encourage them every day, your team will find it easier to maintain productivity and complete things on time.
Even better, they’ll see you as someone they can depend on rather than just someone who bosses them around.
Encourage Creativity and Innovation
The most innovative ideas often come from the people working the front lines, not the management team. Use this to your advantage and actively encourage your employees to be creative.
When they feel that you value and ask for their input, they’ll be more willing to share their ideas which only helps your company grow.
You may even see an increase in retention and employee satisfaction. Remember, when employees feel that the leadership team cares about them and values their opinions, they’ll be more likely to stay with the company.
Invest in Their Needs
Your team needs the right resources to be able to get their jobs done well. Instead of asking them to provide their own equipment or office accessories, take the time to invest in those items for them.
Invest in products that make their jobs easier and improve the quality of their life at work. This means buying ergonomic office furniture, providing them with break rooms that help them relax, and paying attention to their requests.
Keep in mind that those needs will change over time. As long as you do your best to accommodate those needs, you’ll show that you’re a leader who cares.
Don’t Over-Supervise
No one likes to work in an environment where they feel that every move they make is under scrutiny. The best way to be a better leader is to show your employees that you trust them by not supervising everything they do.
Have faith that they know what they’re doing and will complete tasks to company standards without someone standing over their shoulder.
Just make sure to communicate to them that you’re always available for guidance or advice. If you have a private office, keep the door open whenever possible so your team can talk to you as needed.
Recognize Great Work
According to the team at slonepartners.com, recognizing your employees’ effort and quality work is essential. That recognition can be something as simple as saying “good job” or thanking them for taking care of certain tasks quickly.
Great leaders always express appreciation for their team’s work. After all, without them, you wouldn’t have the company you do.
It’s also a good idea to consider formal recognition of outstanding work at least once a year. Again, this can be something simple, but offering bonuses and awards can encourage your team to continue their great work.
Don’t Stop Improving
When things are going well and you feel secure in your leadership style, it’s easy to get complacent. When you do, the business stagnates and employees won’t feel the need to come up with new ideas and ways to improve the operation.
Instead of accepting things as they are, constantly look for ways to improve. This ties right back into leading by example. When you’re actively looking for ways to improve, your team will follow suit.
Be Positive Whenever Possible
As a leader, you can set the tone for the company. When you’re feeling down or discouraged, your team will pick up on those emotions.
Often, this negatively impacts their productivity and can halt progress before it ever has a chance to get started.
Try to be mindful of the mood you’re showing around your team. If you feel down, look for ways to stay positive while you’re at work.
That doesn’t mean you have to be happy all the time. Instead, try to focus on the things that are going right and don’t take your emotions out on your team. The key to being a good leader is being able to separate your personal life from your work life.
Understanding How to Become a Better Leader Takes Time
Wondering how to become a better leader is the first step on the journey. It shows that you care about your team, your company, and your professional reputation.
These tips should help you hone your leadership skills and become the mentor your team can look up to.
Looking for more insight on becoming a more effective leader and communicator? Check out our latest posts.
In the business world, leadership and motivation have been subjects that have attracted the attention of many entrepreneurs over the years.
In the business world, leadership and motivation have been subjects that have attracted the attention of many entrepreneurs over the years.
This is mainly because most organizations realize that it is not just a good salary that motivates people and enables them to work for the company’s growth, but also their aspirations.
The search for employee engagement in the company through motivation is strongly linked to the concept of leadership that places the company’s employees as key elements for the achievement of the organization’s goals.
Thus, keeping all employees of the firm in a good state of motivation becomes vital for the organization’s survival, since if the established goals are not met with excellence, the company’s growth will be compromised.
Thus, the motivation process must be considered by the company, especially regarding the relationship between leadership and motivation in business.
Since to motivate the teams, the leadership of the firm must also be involved, because it is the leaders who with their influence impact the workers, acting in a way as “motivating agents”.
Decisive Factors for Good Leadership
There are characteristics that every great leader presents, so it is necessary that the management of any company also seeks to acquire these strengths to have good leadership.
Due to the importance of these characteristics, they are even decisive factors for good leadership, and therefore must be known.
KNOWLEDGE
If you have a quality not lacking in great leaders, it is the frequent search for new knowledge to improve your leadership and administrative skills. So no matter what your current position as a leader, you should never forget to study more and more.
It is essential that the leader has in his diploma specializations and MBA’s in the management area – it can be Business or Project Management.
Such knowledge is necessary because much of a manager’s qualities, for example, are critical in any leader who wants to effectively manage teams and projects.
Not only do you have high qualification courses, but you can also choose to take additional courses, as they are perfect for acquiring important qualities in shaping the image of a good leader, such as the communication and speaking course.
Another tip on how to gain knowledge to enable good leadership in the business, as well as motivation that is worth applying, is participation in lectures and short-term training programs, as they also enable the acquisition of knowledge that helps in achieving a good leadership.
Knowledge of study is critical to building leadership that makes the business successful, so be sure to adhere to every training opportunity you have (With Prioritization, of course!).
INTERPERSONAL RELATIONSHIP
Managing the relationship established between the leader and employees is a key factor in leadership.
The development of healthy relationships in the workplace allows the created collaboration space to be psychologically alternative. In this kind of environment, even if distrust, fears, and conflicts arise, they can be accepted and worked on by both actors.
However, it will only be possible to form this environment and be able to achieve optimal interpersonal relationship management if you can create a climate of mutual trust, the experts at https://pollackpeacebuilding.com/ suggest.
As a member of the interpersonal relationship that has the responsibility of uniting team members and enabling good work, the leader should serve as a motivator and connector for employees.
At this point, you see a lot of what is the relationship between leadership and motivation in business, since as we saw earlier, motivation is one of the elements that can not lack in leadership.
Going deeper into this issue of interpersonal relationships, it will also be necessary for the leader to take care that the personal lives of team members do not interfere with the execution of their tasks in the company.
LISTEN TO EMPLOYEES
There is no better way to improve leadership and effectively motivate employees other than by listening to them for their needs.
Knowing the needs of the employees also enables the leader to be able to synchronize these wants with those of the company, thus generating benefits for both parties.
Although this is a very important point in leadership, unfortunately, many ignore it. Very few companies have a consistent channel that allows them to communicate with employees through which they can meet the real needs of their employees.
By listening to workers, the company can also benefit from suggestions, new ideas, and listening to complaints that may lead to the discovery of failures and their correction before they cause harm.
UNDERSTAND BUSINESS DEEP
Although it seems obvious, many leaders often fail their leadership because they do not understand very well how their business works.
This disregard, as to the need to know the business model in-depth, is due in part to the fact that many entrepreneurs or leaders take this need as unnecessary because they have the idea that they already know everything about the type of business.
Knowing the line of products/services and the method that is used during its manufacture counts a lot when it comes to leadership and motivation of employees, because at times, customers and even the team itself may need clarification.
However, in case of inconsistency in the response, those who were previously motivated by the leader may gradually lose their confidence in him, and may no longer see him as a source of motivation by example, especially if this type of situation recurs.
So, don’t waste your time and check to see if all the good leadership characteristics mentioned in this post are noticeable in your company’s leaders. If not, start cultivating them as they are the key to success in teamwork. So that’s it, these factors are decisive for good leadership and business motivation.
In a hundred years, when most people reading this and the person writing this are long gone, Musk’s cars and rockets will still be circling the Earth and the skies. How can such a person get started against all odds is the question. And, more importantly, what can we learn from him?
Learning From The Outlier
Learning from Musk might seem naive. After all he is an outlier even among billionaires. We think this is exactly why he is worth studying – you don’t get insight into the extraordinary by studying the ordinary. Even with a sample size of one Musk we may find something in the way he started out that is fundamentally borrowable.
Sure, we can’t recreate the exact circumstances of his life for ourselves – we all have different parents, live in different countries, and have different bodies. Despite all the differences, we have control over our mindset as much as he does over his. This part of Musk we can borrow. The ways he deals with uncertainty, the books he reads, the ways he makes promises, and patches up his own mistakes are all borrowable, for example.
Thinking From First Principles (And Not Just By Analogy)
You might be skeptical about how studying another person’s life can help. His circumstances are not like yours. Musk would be the first to remind us here to think from first principles, as scientists do, rather than by analogy. Why should you think like Musk? You might know better than him after all. It’s true that thinking from first principles gives a truer result. But it also takes time which is limited for all of us. Yes, it’s best to think about your situation from scratch. But reasoning by analogy makes sense given that life is finite. To minimize our own mistakes we don’t need to borrow the exact decisions Musk made but study the way he makes them. Then we can apply his thinking method to what we know to be true for sure.
It’s Easy to Explain Greatness in Hindsight – The Narrative Fallacy
One psychological barrier to learning from other people’s lives is the narrative fallacy – making a neat story out of facts that at the time of their happening made little sense. As the classic book on improbability The Black Swan explains, we do it to deal with the randomness of life – we explain it away because we know how the story ended. We’d rather not figure out why we didn’t know what we didn’t know.
The media often write this way. Articles about Musk call him a “genius”, which he is. But labels like this make his accomplishments sound like a foregone conclusion. They aren’t. For example, he still has to deal with big oil companies that want to see Tesla go down.
We might assume he knows what to do with this because he is a “genius.” But genius is not a strategy. And his victory is far from certain. As you are reading this, he is doing something to deal with the uncertainty of his situation. What sort of a mindset is he in?
Life = Decisions + Circumstances + Results
Life is a combination of decisions – things you do; circumstances – things that others do to you, including people you’ve never met, like politicians; and results – your decisions + the circumstances.
Labeling each significant event in Musk’s life on a timeline produced a lot of decisions, unsurprisingly. It’s fair to say he is a product of his decisions more than his circumstances. Musk seems to have been decisive and deliberate from the start. A quick glance at the timeline shows that his decisions by far outnumber his circumstances.
A pivotal moment in Musk’s life came when he got his computer. It came along with a BASIC programming language workbook. The workbook was supposed to take 6 months, but he decided to stay up for 3 nights in a row and finished the whole thing. Within 3 days he basically was a programmer by the 1984 standards. His new skill brought his first success – he wrote a video game called Blastar and sold it for $500.
Even today in most countries universities don’t encourage you to graduate faster even if you learn faster. Lawyers and doctors are required to be in school for a certain period of time regardless of their learning speed.
The Immigrant Mindset
Do you need to move far away to bring out the best in you? Musk plotted his escape from South Africa ever since he had access to information about America. His idea of America was cliché – he didn’t overthink it. He wasn’t interested in criticizing the system – he wanted to move to the land of yes-men, and he was one himself.
Getting His Hands Physically Dirty
Musk doesn’t seem to think that physical work is beneath him. He embraces it. When he moved to Canada at 17 on his own, he sought out a job that required him shoveling dirt in a boiler room wearing a hazmat suit. Even today, with his designer clothes on, Musk walks the floor of his rocket factory and sometimes gets physically involved in the process – his clothes ruined with epoxy.
Sharing Wildly Ambitious Plans
Compared to other people and companies, Musk has an unusually futuristic outlook. He has made and shared his plans for as far away as his death on Mars after he helps a million people move there on his rockets at $500,000 per ticket. It’s easy to dismiss this as marketing hype – and people did dismiss a younger Musk. By now it’s clear though that he lives up to his ambitions.
Not Looking Back
Musk is known for not hanging on to things or people. He looks forward. Ironically he might have a lot more to look back at and be sorry about than many. His first child died at 10 months old, he divorced his first wife, the first 3 times he launched his rockets they blew up – one of them destroying an expensive NASA payload. He has blown promises, missed deadlines, miscalculated costs and had to charge customers extra after they had already paid (Musk had to ask 400 customers who already prepaid to add extra $17,000 for each Roadster). This list alone is enough, I believe, to make most people look back and infer that maybe it’s time to reign in the ambition, to mend relationships, etc. But that is not the point – for all his failings, Musk is capable of greatness. His products justify his mistakes. At the age of 44 he still has more to gain than he has lost – more rockets to launch, more cars to manufacture, and even more children to have.
Starting Really Small
Compared to what Musk is doing now – electric cars, rockets, and solar panels his first businesses were ridiculously straightforward – selling computer parts from his dorm room, running a glorified speakeasy from his house in college. Would he do this if he saw a straight path to making electric cars back in college? I think not. It looks like he took incremental steps towards a goal he had no idea how to reach at the beginning.
Just Enough Money To Start
Most people would say that it’s the lack of money that prevents them from starting a startup. Musk’s biographer helpfully tells the amount he had when he started. Between him and his brother Kimbal they had $28,000 that came from their father plus $6,000 from their friend Greg Kouri, who joined as a co-founder of Zip2. Today the $34,000 adjusted for inflation would be $53,000. This amount was enough to set up an office in Palo Alto. Musk and his brother slept in the office, showered at the YMCA, and subsisted on a diet of fast food.
Teaching Himself From Books
When Musk decided to do something with space he apparently realized that he needed to learn about space himself. He correctly estimated that money alone, which he didn’t have enough of to start a rocket company either, does not solve the space problem. Wealthy people have done this before – threw some money at a space project and watched it fizzle out helpless without the engineering knowledge. Not Musk. Jim Cantrell, an aerospace engineer that Musk cold called back in 2001 said this about how Musk learns, “He literally sucks the knowledge and experience out of people that he is around. He borrowed all of my college texts on rocket propulsion when we first started working together in 2001. ”
Over-Optimism, Over-Promising, and Over-Delivering
With both SpaceX and Tesla there is a pattern: make a wildly ambitious promise, delay the reveal several times, finally unveil the product, promise to deliver it soon, delay the delivery date, deliver a product that surpasses expectations.
In design I’ve learned that you can have only 2 out of the three things: amazing, fast, or cheap. Musk doesn’t seem to compromise on amazing. He is definitely striving for cheap (100 times cheaper rockets than now, Model 3 at $25,000 after tax incentives). So you don’t get fast. The Model X, for example, came 3 years late.
How Many Tries Does It Take?
It took 4 tries for Musk to successfully launch his first rocket. This number is low compared to his competitors who blew up a lot more hardware before it would fly.
There is one key difference, though – Musk only had enough money to launch 4 times. If the 4th time didn’t fly that would have been it.
Not Failing
“I’d rather commit seppuku than fail,” Musk tells an investor to explain why he should get the investment. This is a theme with Musk in negotiations, physical activities, and relationships. He might move on but he doesn’t fail. He might be late on his promises, he might come across as too pushy, or get kicked out of the company he started, but he doesn’t let things fail.
When you spot leadership material in your employees, you want to do your best to cultivate it as effectively as possible.
When you spot leadership material in your employees, you want to do your best to cultivate it as effectively as possible. Employees that show themselves capable of going above and beyond the call of duty can provide you with a broad variety of advantages in the future, especially as your business starts to grow and expand.
Provide Chances to Take Charge
One of the best ways for you to get your employees into the leadership mindset is to give them the opportunity to lead projects and take charge. Have them manage their peers and always incentivize better practices in order to get the best results. You want your employees to know that they should always search for chances to be reliable.
Show Them a Bigger View of the Business
When you come upon employees who have stronger leadership potential, you will have the opportunity to cultivate their desire to learn more about the business. These professionals are often very eager to learn more about the industry and how they can start making waves in the right direction. As you get to know these employees, take the time to show them the politics and inner workings of the business, as they will need to learn more to get ahead.
Get Them Out of the Office
Make sure that you bring your employees to all types of environments where they can learn more about leadership opportunities. Things like networking events and mixers are excellent locations for your employees to see how they can connect with other professionals in the industry. The end goal is to provide them with the background they need to begin representing the best of your business, no matter what field you are in.
White Belt Sigma Six Training
Finally, if you feel as though you are ready to take your students to the next level, it is highly recommended for you to teach them about white belt sigma six training here in your business. These teaching methods can provide them with a broad variety of practical skills and specializations that they can take with them wherever they need. Many of the skills translate to real-life situations, improving their leadership capabilities in any environment.
No matter when you are ready to expand your business and provide your employees with opportunities to lead, it is always a good idea to be as specific as possible when it comes to your own practices. Teach them how to plan ahead for your company’s structuring while also thinking outside the box as necessary for the future.
It is unfortunate when you end up with such a boss.
There are tell-tale signs when your boss is afraid of you. He frequently ignores you or often fails to respond. He shoots down most of your ideas or steals them as his own. He restricts your interaction with others by giving you low-level impact jobs and prevents you from communicating with other units.
It is unfortunate when you end up with such a boss. Don’t engage in any head-on conflict with the boss. Instead, continue doing your job well, hone your soft skills, and continue leading from your confines.
Leadership Skills Can Be Learned
Like other soft skills, Leadership Skills can be learned and developed.
The main difference between hard and soft skills is the ease of measuring the skill level. You can measure the typing speed in words per minute, but it is more difficult to quantify his commitment and motivation.
A massive list of soft skills will help you determine which you may want to hone and develop. The common types needed in the workplace include collaboration, communication, problem-solving, time management, and leadership skills. The abundance of soft skill coaches and their proliferation in the web attest to their learnability.
The soft skills for leadership would include the following:
• Motivation – inspiring and influencing others
• Trustworthiness – truthfulness and doing what they promised
• Goal-setting – developing and achieving goals
• Commitment – dedication and focus to goals and objectives
In as much as soft skills are also called interpersonal skills or relationship skills, learning and developing them is best done working with others.
There is a Talent Gap for Leadership Skills
Leadership skills are needed in the workplace but can also be used in life outside work. Leadership is practiced at all levels of an organization and in all social units.
Deloitte University is part of a global company that focuses on trends in human capital and leadership. A study conducted by Adam Canwell for Deloitte points to the lack of leaders as the primary talent gap worldwide.
Eighty-six percent (86%) of the respondent organizations rates this issue as urgent or important. Only 13% answered that their organization is doing an excellent job in leadership development.
Start Leading From the Inside
It is time for employees to build upon their leadership skills, even if their current bosses get afraid of them. Most organizations, including the military, spend a lot to develop leaders from among their team members. Some trainees and some of the top echelon of the organization may not be fit to be in their position. The boss who is afraid of you may be one of them.
Many resources are available for aspiring employees with leadership potential to further their careers. Even if the boss has restricted your working space and peer circle, no one works alone. Within your limited circle, you can still sharpen your leadership and other interpersonal skills.
Outside of work, we are also part of the community, a church group, or a civic club. We always have other people around us to practice and enhance our leadership skills.
As an aspiring entrepreneur, Jack Ma should definitely be on your list of entrepreneurs to gain inspiration from.
Ma Yun better known as Jack Ma, is the founder and chairperson of one of the most successful e-commerce companies, Alibaba, which had recently been labelled as more successful than Walmart in terms of business. As an aspiring entrepreneur, he should definitely be on your list of entrepreneurs to gain inspiration from.
Listed below are a few quotes by him to help you through your entrepreneurial journey:
i.
The opportunities that everyone cannot see are real opportunities.
ii.
Hire the person best suited to the job, not the most talented. This can be a very painful lesson. There’s no point putting in a Boeing jet engine when you need to run a tractor.
iii.
Never deceive others, in business or in life. In 1995, I was deceived by four companies — four companies that are now closed. A company cannot go far by deceit.
iv.
We are never in lack of money. We lack people with dreams, who can die for those dreams.
v.
If you don’t give up, you still have a chance. Giving up is the greatest failure.
vi.
When you are small, you have to be very focused and rely on your brain, not your strength.
vii.
If we are a good team and know what we want to do, one of us can defeat ten of them.
viii.
You should learn from your competitor but never copy. Copy and you die.
ix.
A leader should have higher grit and tenacity, and be able to endure what the employees can’t.
x.
The opportunity lies in the place where the complaints are.
xi.
You’ve to make consumers smart. An e-commerce portal doesn’t sell a product at cheaper rates, instead, an offline shop sells it at a costlier price.
xii.
If you’re still poor at 35, you deserve it.
xiii.
I call myself a blind man riding on a blind tiger.
xiv.
Never ever compete on prices, instead compete on services and innovation.
xv.
It’s very difficult to know the outside world, but you know yourself. You know your need and what you want. If I know myself better, I can change myself to meet the outside world.
