Ten essential leadership skills for small business owners - Gavin Bryce

Gavin Bryce – author, leadership specialist, and advocate for personal growth with a focus on unmasking the inner critic – lays out strategies to help entrepreneurs overcome self-limiting beliefs and lead with conviction.

'Great leaders are perpetual learners, driven by an insatiable curiosity to explore new ideas, learn new skills, challenge assumptions, and push the boundaries of possibility,' says Bryce. Picture: contributed.

Entrepreneurship is a journey, and the role of a small business owner is akin to that of a captain navigating uncharted waters. With each wave of change come new challenges and opportunities, demanding a versatile skill set and a commitment to continual growth. Here are what I believe are ten essential skills every entrepreneur should aim to cultivate...

• Emotional intelligence: At the heart of effective leadership lies emotional intelligence — the ability to understand and manage one's own emotions while empathising with the feelings of others. In today's interconnected world, where relationships drive success and adaptability is prized, individuals who possess emotional intelligence have not just a soft skill, but a strategic advantage.
• Curiosity: Great leaders are perpetual learners, driven by an insatiable curiosity to explore new ideas, learn new skills, challenge assumptions, and push the boundaries of possibility. By fostering a culture of curiosity within their teams, business owners can unlock innovation, foster creativity, and stay ahead of the curve in an ever-changing marketplace.
• Written communication: In an era of remote work and global collaboration, the written word has become a cornerstone of effective communication. Mastery of written communication enables leaders to articulate their vision, align their teams, and forge meaningful connections across distances and cultures. Artificial intelligence is available, but that should never take the place of human creativity and empathy for the written word.
• Wellbeing management: The well-being of a business owner is not just a personal concern, but a critical factor in the success of their enterprise. By prioritising mental, emotional, and physical health, leaders can operate at peak performance, inspire their teams, and foster a culture of wellbeing that fuels sustained success and minimises stress.
• Digital literacy: In the digital age, fluency in technology is no longer optional — it's essential. Small business owners must stay abreast of the latest tech trends, leverage digital tools effectively, and embrace innovation to remain competitive in a rapidly evolving landscape.
• Agility: The ability to adapt quickly to changing circumstances is perhaps more valuable now than ever before. In an era of disruption and uncertainty, agile leaders can pivot seamlessly, seize opportunities, and navigate challenges with confidence and grace.
• Motivational skills: At the heart of effective leadership lies the ability to inspire and motivate others to achieve their full potential. By understanding the unique strengths, aspirations, and motivations of each team member and fostering a culture of psychological safety, leaders can nurture a culture of engagement, empowerment, and excellence.
• Creative problem-solving: Challenges are inevitable in business, but it's how leaders respond to them that defines their success. By cultivating a mindset of creative problem-solving, entrepreneurs can turn obstacles into opportunities, drive innovation, and propel their businesses forward in the face of adversity.
• Strategic thinking: Small business owners must think not only tactically but strategically, with an eye toward long-term goals and sustainable growth. Strategic thinking enables leaders to anticipate market trends, capitalise on emerging opportunities, and navigate competitive landscapes with clarity and conviction.
• Empathy: Finally, empathy is the cornerstone of effective leadership, enabling business owners to connect authentically with their teams, customers, and stakeholders. By understanding and valuing the perspectives, feelings, and experiences of others, leaders can foster a culture of trust, collaboration, and inclusivity that drives organisational success.

The journey of entrepreneurship is a voyage of discovery, growth, and transformation. As small business owners chart their course through the complexities of the modern business landscape, cultivating these ten essential leadership skills will empower them to navigate with confidence, resilience, and success, ensuring not only the survival but the thriving of their enterprises in the years to come.

Gavin Bryce is an author working directly with growth-mindset leaders through his company, Constant Progression, and in his role as a group chair with Vistage – the world's largest CEO peer advisory organisation. He also hosts in-person and online Unmasking Leadership workshops, with the next one taking place online on June 26, 2024.