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10 Leadership Lessons for Entrepreneurs

 

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“Live out of your imagination, not your history.”~ Stephen Covey

Specifically, these steps can be directly applied and serve as a great guide for being an effective leader. Let me show you why…

# 1: Be supportive.As a leader, you need to constantly give encouragement to and show sincere interest in your employees if you want to motivate them and boost their performance.

# 2: Attend games whenever possible. Great leaders see what’s going on in the workplace. They walk around. They attend meetings. And they speak to their employees to understand how things are going.

# 3: Be a positive role model.Effective leaders are positive role models. If you don’t act in the manner you’d like your employees to act, they won’t.

# 4: Let your child set his own goals and play the game for himself/herself. Be your child’s “home court advantage” by giving him or her your unconditional support regardless of how well he or she performs.

Great leaders allow their employees to set goals. Sure, those goals need to align with the organization’s goals. But employees are much more successful and dedicated to achieving goals that they set or helped establish. And employees who do not meet their goals should be supported and helped so that they improve and meet their goals the next time.

# 5: Let the coach coach. Refrain from giving your child advice when he or she is playing.

If your organization has multiple levels of management, this comes into play. For example, if a manager tells an employee one thing, the organization’s president needs to be careful not to tell that employee conflicting information. All management needs to be on the same page – this is simply done via effective communications.

# 6: Respect the decisions of the referee or umpire. This is an important part of honoring the game. Your child will pay more attention to how you act than to what you say.

Things will not always go right in organizations. Some battles you will win, and others you will lose. When you lose a battle, the answer is never to point fingers or complain about external reasons that caused the failure. Rather, you must accept the failure, and figure out how to improve and avoid failure next time.

# 7: Read the rule book. A full understanding of the rules will help you enjoy the game and educate others.

In my opinion, the only real rule book in business is the ethics rule book. By being a positive role model (see #3) and showing a high degree of ethics, your employees will most likely do the same.

# 8: Get to know who is in charge. Meet with the leadership of the program, whether it’s school-sponsored or recreational, to discuss topics such as cost, practice and game scheduling, insurance coverage, emergency procedures, etc.

Effective leaders get involved in their industries. They go to industry events. They meet other leaders. They sit on industry boards.

No organization operates in isolation. Understand and get involved in your industry. This will help with setting industry policies, finding partner organizations, and becoming well-known, which will positively influence sales, the number of quality employees seeking to join you, etc.

# 9: Get involved! A great way to support your child’s lacrosse experience is by becoming a volunteer for the program. Some of the ways you can get involved: keep the scorebook, run the clock…

See #2 — make sure you circulate around your workplace and get involved.

# 10: Sit back and enjoy the game. Remember, lacrosse is played for FUN.

Great leaders enjoy the journey and not just the end result. Running an organization is hard work, but it should be fun. You should be doing what you love to do. And if your employees are motivated and truly care about the welfare of your organization, running your organization is an extremely rewarding experience.

Ten Simple Rules For A Successful Start-up
Without continual growth and progress, such words as improvement, achievement, and success have no meaning.
~ Benjamin Franklin

While the thought of starting your own business may be exciting, it can also be intimidating – even for someone with a successful business career behind them. The good news is that, by following a few basic rules, it’s easier to start a business than you think – and the chance of success is much greater. _

The difference between owning a business and working in one is significant. As the owner you’re directly responsible for every aspect of the business’s success. That’s why it’s important to do your research and plan accordingly. Here are some steps to follow if entrepreneurship is where you want to go.

CHOOSE AN OPTION THAT’S RIGHT FOR YOU
When thinking of starting your own business, choose one that’ll suit your lifestyle and preferably one in which you have some direct knowledge and experience.
For instance, if you want to work regular hours, opting for a fast food franchise isn’t a good idea. Similarly, if you’re thinking of buying a boat-building business, it’s important that you know a little bit about what’s involved, even if you’re not a professional boat builder yourself.

DO YOUR MARKET RESEARCH

Market research doesn’t have to be complicated, but it’s important to make sure that there’s a need for your product or service. Find out whether there is competition already established in your area, whether your offering is unique or fills a special gap in the market.

If you can offer a product or service people need, which doesn’t already exist, you’ll have a good chance of success. For example, you might be able to offer a scholar transport service in an area off the public transport route or develop a new form of health snack where there’s a demand, but no supply.

DRAW UP A BUSINESS PLAN
Writing a business plan is like drawing up a road map. You’re not likely to reach your destination unless you know where you’re going and what you’ll need to get there.
As intimidating as it may sound, this isn’t rocket science. You need three or four pages that will give the business operational and financial direction. The SME Toolkit South Africa offers an entire section on writing a business plan.

CHOOSE A SPECIALIST INVESTOR
When looking for investment, choose a company that has specialist knowledge of the challenges facing entrepreneurs, as well as of the sector in which you intend to work. This could be one of the most important decisions you’ll ever make – for yourself and for your business.

And before you waste your time and face unnecessary rejection, find out what a financier’s criteria are for finance. When you know the requirements, you can prepare accordingly, or choose to go somewhere better suited to your needs.

EMPLOY THE RIGHT PEOPLE
Not all start-ups employ people from the start, but if you do, it’s important to choose wisely. In a small business, people spend a lot of time together, so you need to have employees that you feel you’ll be able to work with. Also, choose people who have experience in the business you’ll be starting – this will give you a valuable support system.

MARKET YOUR BUSINESS
Business doesn’t come to those who wait – it comes to those who go out there and tell people what they have to offer. Even the smallest business needs to market its services by, for example, placing ads in the local papers, distributing flyers, putting up notices in shopping centres, recreation centres and schools and developing special offers for special needs or occasions.

PUT FINANCIAL SYSTEMS IN PLACE
Even if you’re not a financial expert yourself, implement simple but solid financial systems right from the start. There are excellent, user-friendly software packages you can use to do this and it’s even worth contracting the services of a bookkeeper or other financial professional to assist you on a regular basis. Lack of financial discipline is often where start-up businesses go off the rails.

MANAGE YOUR CASH FLOW
Cash is the life-blood of a business and it’s important to manage cash flow carefully. The right investor and/or financial consultant will be able to help you do this.

SUPPLEMENT YOUR OWN KNOWLEDGE WITH SPECIALIST SKILLS
It’s important to constantly build on your skills in all aspects of your business. Read, research the internet or attend training short courses on a consistent basis to implement the most productive processes in your business and keep abreast of industry trends.

However, no entrepreneur can be a specialist in every aspect of business and it’s important to contract specialist skills and services when you need them. For example, if you’re thinking of setting up a small factory and don’t know much about the production process, an experienced production manager will be worth his or her weight in gold.

ENJOY YOURSELF
One of the best things about owning and running your own business is that you have total independence. There’ll be good days and bad days, but it’s important to enjoy what you’re doing and try to maintain some kind of work/life balance.

Owning one’s own business is an adventure – enjoy it every step of the way.

Dankie! Ngiyabonga..

This letter serves to express our interest in being appointed as BOOKKEEPING for your organization as Lillian M and Associates .

Lillian M and Associates will like to offer your business BOOKKEEPING SERVICES to help you and your business grow.

Attached please find our Business Profile, alternatively you can visit our website, our address is www.lillianmassociates.co.za.

Our Firm is a dynamic professional services firm that offers quality and innovative services in:

– accounting,
– monthly bookkeeping
– auditing,
– taxation,
– project management,
– business advisory,

Outsourcing your company’s bookkeeping to a certified bookkeeper can save you staffing overhead, operating costs, and management time, freeing up essential capital and increasing your capabilities so you can run your business more efficiently.
A common misconception is that a business owner will lose control if they outsource their bookkeeping. With the right systems in place, the business owner retains all management decisions and the bookkeeper simply tracks and properly records the accounting activities.
With a certified bookkeeper on your side, your business can be more profitable, more efficient, and more competitive. You’ll get accurate reports reflecting your business activities so you can make decisions that will keep your business moving forward. And all those deadlines – they are met without you giving them a second thought.

We also offer consulting services, tailored to meet your needs. We’ll be glad to give you a competitive quote that fits within your budget.

Take a moment right now and give us a call.
We’re here to help you.


Regards,
T.Mlangeni
CEO and Marketing Director
Lillian M and Associates (Pty)Ltd
087 023 0291
082 536 2167

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