Leading a business isn’t easy. It takes skill, confidence and an innate ability to deal positively with people, both customers and staff. Top executives know they’re going to face challenges, and they’re good with that.
Here are a few tips from business executives to help budding entrepreneurs deal with those daily challenges.
Focus on Customer Service
The customer is always right, but they aren’t always easy to please. Tom Haughton serves as vice president of My Place Realty, a Winnipeg real estate company that owns and manages roughly 1,400 apartment units. Prior to that, Haughton served as the CEO of Global Drug Supply, an International Business Corporation based in Barbados. He says the underlying principles of leading and growing a successful business are the same, no matter which industry you are in.
“The industry is less important than knowing how to establish and maintain a good relationship with customers,” Winnipeg’s Tom Haughton explained in an interview.
Be Open to New Ideas
It takes a lot of confidence to start a business. And new ideas can sometimes feel like distractions. Many executives assume their way is the best way. But if you want to grow your company, you need to encourage staff to challenge those kinds of assumptions and be comfortable coming to you with fresh concepts. The next time you are approached with a new idea, ask yourself: “Is it better or is it just different?”
Keep on Learning
Dropbox founder and CEO Drew Houston tells Business Insider you have to be systematic about training yourself. That means figuring out what you don’t know about your business and learning it from top to bottom. “No-one is going to do that for you,” he says.
Things Will Get Tough
You shouldn’t be a CEO or even a startup executive if you don’t like things that are hard and challenging, says Jonah Peretti, the founder and CEO of Buzzfeed. You need to try things that are difficult and figure out new things that perhaps don’t even exist yet, he adds. “That has to be part of why you do it. It has to be part of the fun.”
Embrace the Technology
Tom Haughton says no matter what industry you are in, you can’t escape the impact of technology. In fact, tech solutions seem to be moving faster than a lot of executives can keep up with, he notes. In the real estate business, Haughton says we’re trending towards home automation. “It’s important for the industry to find a way to embrace the possibilities,” he says. “Emerging demographics — millennials, in particular — want to be able to seamlessly control their home environment, whether lights, heating, air conditioning or security, from their smartphones. Speaking generally, I anticipate it ultimately will become the standard to integrate smart technologies into homes.”
As you build your business, you’ll discover your business is also a place where people ask for input and perspectives. In other words, a place for ideas, and where principles rule over personalities. This is the kind of business where entrepreneurs and their staff can generate extraordinary results.
