There are few things greater than the feeling you get building and leading a successful business. Throughout my career, I have had the pleasure of establishing and growing a variety of mining firms into successful companies and I have also lead some not so successful ones.
While this feeling of accomplishment is grand, it is only dwarfed by the amount of gratitude that leaders must feel and show the dedicated team of professionals they work with. This includes the executive team, managerial staff and employees; in short, the people who are able to take your corporate vision and make it reality.
Over the last 30 years, I have learned some valuable lessons when it comes to being an effective and efficient leader. I have also witnessed leaders in other sectors exhibit truly admirable leadership skills.
Ian Telfer’s 3 leadership tips
Building a team
Building the right team is as important as building a successful business.
No man is an island, as the old adage goes. Which is why in order for a business to achieve full potential it needs a robust team of executives who are able to bring unique skill sets and perspectives to the boardroom.
Don’t be afraid to delegate
The ability to wisely and effectively delegate is a quality less talked about than others and yet it’s crucial to a leader’s success. Too many business leaders want to micromanage and oversee every detail of the company, which can delay important deadlines and leave the executive team feeling undervalued.
A leader should be in charge of the overall direction of the business. They are looking ahead, steering the course, and making needed corrections to avoid getting off track. A leader who is too caught up in every minutia of the company is apt to lose sight of the big picture and may even fail to see that their company has veered off course until it is too late.
It’s also been proven that leaders who give important responsibilities to their team and employees, along with the freedom to complete the task their way, foster a positive and healthy workplace. Additionally, this builds team innovation and idea levels, morale, and overall satisfaction.
Assigning responsibilities and delegating work establishes levels of trust that are crucial when working in any business environment.
Foster open communication
It’s important to let business teams feel free to share results and findings with you. Communication is also key to ensuring your team is able to fulfill their assignments and responsibilities. Being able to clearly and succinctly describe what you want done is very important. If you can’t relate your vision to your team, you won’t all be working toward the same goal.
From my experience, if you want an organization to succeed, you and your team have to master the art of clear inter-communication. In my opinion, implementing well-organized paths that facilitate easy group communication and collaboration improves the likelihood that a given business will enjoy success.