There are 582 million Entrepreneurs in the entire world. 26% of these entrepreneurs were motivated by the concept of being their own boss. 12% of American entrepreneurs said corporate America was their reason for the transition.
Every Entrepreneur is a leader. They are molding their own path and showing others how to do it whether they realize it or not. Entrepreneurs are leaders within their communities. And, when they start hiring others, they are leaders within their business.
To fully grasp the entrepreneurial life, it is important to understand the impact one’s actions has upon others. After all, leadership can make or break a small business.
28% of businesses have 1-5 employees and 10% have over 5 employees. Leadership of the small business will impact how much is invested in retaining an amazing team to support your business. In turn, this impacts your reach within a community, if the community will support your business or not.
87% of millennial employees rate the most important aspect of a job is “professional or career growth and development opportunities.” Yet only 39% reported learning something new. Training a new employee, a new member of the team, can cost on average $1,252 (remember that time is also money). The smaller the company, the higher the cost. Training can disrupt operations.
Leadership development for the Entrepreneur and Small Business Owner should be geared towards building and leading a team of your own. It should be about embracing the leader that is within the entrepreneur and bringing forth the voice to share the vision of your business. It should bring knowledge on time-management, delegation, and conflict management.
Other key leadership skills for entrepreneurs include:
- Emotional Intelligence
- Stress Management
- and more…
After all, how can you grow your business if you do not know how to lead yourself and a team? To grow as an entrepreneur, one must understand who they are, what they want, and how to get there with an amazing team and support from the community.
Want to learn more about leadership development? Contact me.