“People ask the difference between a leader and a boss. The leader leads, and the boss drives.”
– President Theodore Roosevelt
When you think about the entrepreneurs you look up to most—the ones who’ve had a profound impact in their space, who’ve lived remarkable lives and built remarkable companies—what qualities come to mind?
Intelligence. Strategy. Resilience. Resourcefulness. Creativity. And one word that links the rest of those admirable traits together—leadership.
When you first opened the doors to your business, you were largely focused on the early growth of your company. You may have had a vision, but the decisions you made in those early days were probably based on getting your numbers up and getting through a few months at a time. You were trying to survive.
Now, your business is booming—in fact, you may even be experiencing the kind of chaotic growth that can be at once exhilarating and exhausting. But while you’ve grown a larger team and a larger client base over the years, your role in the business has mostly stayed the same. For you to get to the next level, something needs to change.
Being the Boss VS. Becoming an Effective Leader
Today, you’re the BOSS of your business. But can you confidently call yourself the leader of your company? There’s a difference.
If you’re ready to get out of the driver’s seat of your business and start enjoying your role as the visionary of the company, your first step is to shift your identity from “boss” to “leader.” This means building the right leadership team around you and training your team to be highly effective, even when you’re not around to put out fires and answer questions.
Perhaps you’re wondering…
- Sure, leadership is important conceptually—but is leadership development actually worth paying for?
- How does a business owner know when it’s the right time to bring in a leadership development coach?
- Is a leadership development coach the same thing as a business coach?
- How can business and leadership coaching tangibly support your business success?
Simply put, leadership development coaching is one of the most profoundly impactful investments an entrepreneur can make in their business growth.
When YOU grow as a leader, you’re better equipped to guide your team. And when you build a strong leadership team within your organization—that’s where the magic really happens.
Effective leadership permeates every aspect of the way your business runs, from your day-to-day workflows to your ability to scale, expand, or even eventually exit your company. Your ability to lead your people and train other leaders within your business directly impacts your short-term and long-term success – and often, your happiness.
Below are 10 of the most significant ways leadership development coaching can strengthen your business and help you hit your growth goals.
How Does Leadership Coaching Grow Your Business?
- Enhanced Clarity of Vision & Goals
The first step in being able to get to your desired destination is having a clear, precise vision of exactly WHERE that destination is. As the leader of your business, being able to clearly see and articulate your company vision is nonnegotiable.
Leadership development coaching assists business owners in getting clear on the organization’s overall vision and goals. It positions you to more effectively communicate your vision and ensures that team members throughout all levels of the organization are aligned and working towards a common purpose.
- Improved Communication Skills
Just as being able to communicate your vision is essential, so too is being able to communicate effectively about the day-to-day operations of your company. Leadership development coaching helps business owners master the art of clear, transparent communication.
When you learn to express your thoughts and feelings clearly, and you model for your team members how they can do the same, you foster a culture of openness and trust in your organization. This can positively impact everything from basic problem-solving in your company, to long-term employee retention.
- Heightened Accountability & Responsibility
A great leader understands how to take ownership of their decisions and actions – and how to encourage others on your team to do the same. When you can confidently lead by example and set a precedent for accountability in your organization, you encourage your team members to own their roles and approach their work with a deeper sense of critical thinking and responsibility.
- Increased Capacity For Strategic Thinking
One of the most important shifts a business owner who wants to scale must make is the transition from reactive to proactive thinking. This means eliminating the Band-Aid solutions and short-term fixes that get applied after problems arise, and replacing those with long-term, strategic thinking that keeps challenges from showing up in the first place.
While leadership development coaching is partially about the personal development it takes to embody your role as a leader, it’s also about learning to think like a leader. This means considering your long-term desires and the bigger-picture consequences of the decisions made in your company.
Like a general leading their troops, leadership development can help you zoom out, take a bird’s eye view of your business, and shift from creating weekly battle plans to strategies that win the war.
- Improved Team Building & Collaboration
Being a great leader means understanding how to build and nurture an excellent team. Most business owners get stuck in an ‘accidental micromanager’ mindset, where they can’t resist the urge to be overly involved in the day-to-day happenings of the business. But when you focus on leading instead of doing, you can build a strong, cohesive team that thinks and acts independently, collectively tackles challenges, feels enrolled in your company vision, and achieves shared objectives with relative ease… without you holding their hand.
- Adaptability & Agility
While we all dream of a business where smooth sailing is the norm, running your own company means there will undoubtedly be days when stormy weather pops up and threatens to blow your ship off course. Having a strong foundation of leadership skills helps you weather the storm with confidence and clarity.
Being able to adapt and show resilience in the face of change or turbulence—and being able to model how to do the same for your team—is crucial for growing a successful business long-term. You want them to navigate storms just as well as you do, and this means investing in their development to make that a reality.
- Effective & Expedited Decision Making
On average, C-Suite level executives and senior managers spend about 37% of their time making decisions. What if instead of waffling back and forth about what decisions to make, you could quickly and confidently make the best choice for your organization?
Leadership training will teach you to build robust decision-making skills. As you become a stronger leader, you’ll learn to consider various perspectives, look at all your different potential outcomes, anchor your decisions in data rather than feelings, and easily make powerful decisions you can stand behind.
- Success Planning & Exit Strategies
If you’re dreaming of someday selling or transferring your company into someone else’s hands, NOW is the time to step up as a strong leader and focus on developing the talent, systems, processes, and strategies that will get you there.
Leadership training can help you think about your business with the future in mind, identify potential future leaders, and create a smooth exit process when the time comes.
- Employee Engagement & Company Culture
In the modern market, it can be tough to retain amazing employees. Human resources are your most valuable asset in your business—but business owners who don’t understand how to create a strong company culture and engage their team are at risk of high turnover.
Leadership training will help you connect with your team on a deeper level, so you can recognize and appreciate individual team members and make sure your people feel valued. This, in turn, will increase engagement, keep your team motivated when the going gets tough, and foster a positive work environment where your strongest team members will feel happy to stay for the long haul.
- Continuous Improvement
The kiss of death for any business? Stagnancy. Perhaps the most valuable skill leadership development coaching can instill is a mindset of continuous improvement. When you have the ability to constantly assess, optimize, focus on the details that matter, drive innovation, and increase efficiency throughout your organization – THEN you have the makings of a highly scalable, successful company that can stand the test of time.
How to Start Improving Your Leadership Skills
There are hundreds of incredible books, podcasts, and resources available to help business owners step into their role as visionary and leader. A few of our favorites include:
- Dichotomy of Leadership by Jocko Willink
- Radical Candor 2nd edition Kim Scott
- 5 Levels of Leadership John Maxwell
- 10x is easier than 2x Dan Sullive and Ben Hardy
- Crucial Conversations Kerry Patterson
Make This Your Most Aligned, Profitable, & Successful Year In Business Yet With Strategic Leadership Development Coaching
If you’re done with the DIY resources and ready to get serious about sharpening your leadership skills, let’s talk.
Exit Momentum’s proven process and coaching focuses first and foremost on helping you become the visionary business owner and strong leader you need to be in order to build the company you desire.