With the rapid pace at which the current business market changes, the ability of the leaders in any business to make quick and good decisions is becoming more and more important. As more time is needed from leaders to keep up to date with the current business market, they have less time to manage their people, so they need to delegate a great deal more of the day to day operation to their teams.
For many leaders, delegation brings out a number of fears that tasks and functions will not be done with the passion and commitment that the leader applies. They are torn between delegating and keeping up to date with the market and this is often the reason that slows or stops a business growing.
Recruiting, keeping and inspiring good quality people is quickly becoming one of the biggest challenges for UK businesses, wanting to grow.
So what role do emotions play in all of this?
The most important factor to remember in leadership is that it is about leading people, not tasks or jobs, and people connect with others in a predominantly emotional way.
The 3 key areas where emotions play a key role in the leadership of a business are;
- The external relationships with customers and stakeholders build the value of any business more so than the majority of services or products that a business offers. Customers want to buy from businesses they like and who show them respect. This value is most often measured at the lowest level of relationship and not by the quality of relationship between the leaders. A leader’s key role is to make sure all their employees connect to their business and build an emotional contract with their own business and the customers and stakeholders externally.
- The second area is the internal relationships and it is measured by the emotional commitments of the people within the business. To build emotional wealth within your business, as a leader you must treat your people as investors because that is what they are, investors of their talents and emotions.
- The third area is the level of energy, focus and passion you invest as a leader in your role in the business and in your personal life. As a leader, you will quickly realise that you cannot lead by asking people to do what you say when the way you act and behave is the opposite of this.
The primary role that you have as a leader is to create positive emotions in all of the key areas above in order to create a competitive advantage for your business.
When people do not really know or understand each other or when relationships are plagued by lack of trust or bad feelings, the ability to grow or even carry out business deals becomes more and more difficult.
Successful business leaders in today’s business environment are not just those who can see and act on opportunities in the market, but those who can inspire and connect with others so that they achieve and perform at levels higher than they thought possible themselves.
As a leader, building emotional wealth in your business is a great strategy to build a difference between your business and your competitors and could be the secret to taking your business to the next level of success and profit.