Excitement, vision and determination are all great qualities for an entrepreneur, particularly when you are setting up your business. But when you move into the consolidation and then growth phases, they could backfire.
It may come as a surprise to you that such positive qualities could ever cause any negatives. But once you have driven every last muscle to get your business up and running, you need to transition yourself into managing it. For that, you need to work as hard on your people skills as you did on your start-up.
It is true that decisiveness is a key attribute of a successful manager but your decisions must be based on solid evidence and intelligence you have gathered. Try as you might, you cannot be everywhere in the business at once and so you need to soak up and sort out the observations related to you by your staff.
Make a point of being seen regularly on your shop or factory floor and chatting in a relaxed, non-judgemental way with your staff and any customers who may be around. Stalking around saying nothing is just as intimidating to your staff as the habit that some bosses have of appearing very infrequently simply to bawl people out.
People skills are so critical because it is people who buy your product and people who work for you. Whichever way you look at it, your business is people-driven.
So to win the loyalty of your shareholders, customers or surveyors, you need to show that you treat all people with the respect each one deserves and can mix positively with each and every one. Getting to know your staff in this way will develop in you the subtleties of emotional intelligence, a skill that is vital to your ultimate success.
With emotional intelligence, you will be able to adapt your management style to achieve the best results from each individual. You will know instinctively when a staff member needs a few words of encouragement or comfort, or when and how much to push to get the best out of them – perhaps even more than they knew that they had to give.
At Cash Converters SA, all our managers are expected to polish their people skills to achieve the best for themselves and the staff reporting to them. Even our top management team is not exempt and makes a point of putting a day or two aside each month to visit a different franchisee round the country.
That way we can help mentor and coach them to deal with any management problems that they may be encountering. From a corporate and strategic point of view, we can also check that the corporate branding is on track and listen to feedback on whether any new lines are working well or not and to suggestions for new brand extensions or even new and complementary income streams.
In that way, an apparently soft skill can make your business even more competitive. By insisting on strong people skills among your staff, you will build a more harmonious working place. To complement this, incorporate relevant feedback into your planning. This will have a positive impact on the bottom line, which is exactly what leaders want to achieve.
So keep quiet and listen as much as you can. Make a point of not anxiously filling nervous silences with hasty instructions or long technical lectures. Then you will benefit the business by hearing what your staff need to get the job done and who is blossoming into a promising talent.