From YEC
Being a business owner requires adaptability and continuous growth
Being a business owner is a dynamic and demanding role that requires adaptability and continuous growth. here, Young Entrepreneurs Council Members will share the skills business owners should aim to develop this year to become more effective leaders, and why these skills are the key to their company's success and longevity.
What is one skill business owners should aim to develop this year to become better leaders and why?
Small business owners should focus on honing their leadership skills
1. Emotional intelligence
In today's dynamic business world, one of the most important skills for executives who want to become better leaders is emotional intelligence. In a world that increasingly values adaptability and human-centered approaches, emotional intelligence is emerging as a critical skill for leaders who want to grow and make a meaningful impact. —Adam Thoren, Kidpreneurs.org
2. Curiosity
Great leaders always ask questions. Why are customers dissatisfied? What more can they do with this product? How can employees grow even more this year? Then they listen carefully and ask additional questions. Uncovering all ideas encourages both exploration and failure. Because creativity and innovation only happen when teams aren't afraid to take on challenges. —Vanessa Nornberg, Metal Mafia
3. Written Communication
Good written communication will become an increasingly important skill as we continue to work with remote workers and freelance employers around the world. This is especially important because it allows leaders to work asynchronously with their teams, minimizing the friction of coordinating in-person meetings or scheduling calls. —Firas Kittaneh, Amerisleep Mattress
4. Ability to manage one's health
The most important area that impacts your business and leadership is your ability to effectively manage your own mental, emotional, and physical state. Build a daily routine that prioritizes your mental, emotional, and physical health so you can operate at peak performance. Your energy sets the tone. Invest in yourself every day and watch your team grow. —Kevin Goetsch, Webfor
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5. Digital literacy
I believe today's business owners need to develop digital literacy to survive evolving market dynamics. It is essential to understand the latest technology trends and become familiar with related tools that can help streamline business operations. We live in a digital age. Therefore, to grow your business, it's important to have access to viable solutions that suit your needs. —Chris Klosowski, Easy Digital Download
6. Agility
If we've learned anything over the past few years, it's to be prepared for anything. One of the best skills to develop in 2024 is the ability to lead in an unpredictable and ever-changing environment. Learn how to make agile decisions to successfully guide your team through ongoing challenges. Make it your goal to foster a culture of continuous learning and adaptability. —Blair Thomas, eMerchantBroker
7. Ability to motivate others
One of the most important skills for business leaders is the ability to motivate and bring out the best in others. This requires studying each person's needs and goals, not just giving a motivational speech. Identify what drives each member of your team and find the best way to communicate with them and encourage them to perform at their best. —Karin Kassaboff, Protexing
8. Creative problem solving
An important skill for business owners is creative problem solving. Developing this skill improves a leader's ability to adapt, think strategically, and overcome challenges in an ever-changing business environment. It makes people more flexible, stimulates critical thinking, and helps businesses succeed by finding creative and innovative solutions to problems. —Jared Weitz, United Capital Source Inc.
About the author
Young Entrepreneurs Council (YEC) is an invitation-only organization comprised of the world's most successful young entrepreneurs.
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