<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

What It Truly Means to Be a Leader in the 21st Century

Mar. 30, 2017 | Posted by The Alternative Board
shutterstock_142550515

In February 2017, The Alternative Board surveyed hundreds of business owners to find out what it means to be a leader in the 21st century. According to the results, the large majority is very positive about the state of small business ownership. In fact, 95% of those surveyed have a positive outlook moving into 2017, with 62% expecting to increase their staff in the upcoming year.

So what exactly do these highly positive entrepreneurs have in common? According to the stats, more than you’d think! We’ve broken down some of the statistics to find out how leaders are operating in today’s fast-paced, web-driven environment, and what every entrepreneur (and wantrepreneur) can learn from them.

Want additional insight? Read 9 Tips for Motivating Your Employees now 

DOWNLOAD
  1. Today’s leaders are driven by positivity. It seems the old adage about faking it until you make it is a real driver for business owners. The number one trait the surveyed business owners reported having was positivity (47%) closely followed by confidence (30%) – both of which outranked passion (27%), personability (26%), decisiveness (23%) and focus (16%).“The most positive entrepreneurs are often the most successful,” says Serial entrepreneur Jen Groover. “There often are just too many obstacles facing business owners to let negativity get in the way.” To harness the power of positivity, Groover recommends business owners recognize failures as learning lessons and surround themselves with positive people.
  2. Business owners in the 21st Century could be delegating more. The majority of the business owners surveyed (67%) agree the area they most need to improve in as a leader is "holding others accountable.” This is likely why 86% of them are working over 40+ hours a week, with the average business owner working nearly 50.According to Bob Dodge, Senior Vice President of TAB Denver West, a reluctance to delegate often comes down to entrepreneurs’ “own personal wiring.” David Levesque, President of TAB Rochester suggests it’s a lack of process. “The key to profitably growing a business is delegation. The key to effective delegation is good” TAB Hawaii Business Coach & Facilitator Valerie Koenig agrees. “Having a process in place allows companies to scale from one to five to twenty employees, but it is a boring and thought consuming task, so many owners never take the time.”
  3. Business owners still value face-to-face communications over telecommunications. Yes, the 21st century is best known for its technological growth and instant communication channels, but entrepreneurs still rely on face-to-face meetings. According to the survey results, the majority of their communications (39.9%) are handled face-to-face, more than online (33.8%) or over the phone (26.3%).“[The] prioritization of speed over face-time grossly underestimates the power of human interaction and the importance of face-to-face communication,” writes Mina Chang in Forbes. “If the point of business was simply to accomplish as many tasks as possible, then yes, an email would probably do. But that’s not what real leadership is about.”When taking over the CEO position of Linking The World, instead of sending out forms and questionnaires to the company’s branches across the world, Chang spent an entire year traveling from office to office. “I met with our teams on the ground, asked questions, and listened to their concerns. These face-to-face interactions built trust, understanding, and a real sense of a shared mission, and this has made all the difference in the world.”
  4. Experience trumps education on the path to success. Only 2% of the business owners surveyed believe an MBA is the most important business training to become an effective leader. Instead, the majority selected "management experience" (40%), closely followed by business coaching (36%).“Generally speaking, an MBA is not necessary for success,” says Blair Koch, CEO of TAB Denver West. “What you learn from your real-time experiences in business typically cannot be replicated in an academic environment. You learn more from your failures than your successes.”
  5. Entrepreneurs could do a better job of planning. Entrepreneurs with detailed plans are in the minority. Only 43% of entrepreneurs believe they have an effective strategic plan, and only 44% are satisfied with their succession plan. Considering the majority of business owners believe their top responsibility as a leader is to “fulfill their vision, mission and goals,” it’s surprising they don’t have a plan in place to reach those milestones.TAB UK’s Operations Director Jo Clarkson recommends entrepreneurs kick off their planning by defining its purpose. “Create a working document that you monitor, measure and hold people (yourself included) accountable to.”

Based on these survey results, today’s leaders can best be described as experienced professionals with a lot of confidence and a knack for communication. What they might lack in delegation and planning skills, they make up for with positivity.

While it may seem that today’s leader must be tech-driven above all else, it seems a dose of optimism is exactly what they need to keep jumping hurdles. If you’d like to improve your leadership skills, The Alternative Board offers a unique peer advisory model that can help you overcome your toughest business challenges. If you’d like to learn more, get in touch with a local board.

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

13 Lessons In What NOT To Do In Your Business
Jun. 9, 2021 | Posted by The Alternative Board
There are many things successful business owners consciously steer clear of while going about running and growing their business. We asked 13 TAB members what they believe entrepreneurs should...
Let Employee Recognition Drive Your Culture
Jun. 4, 2021 | Posted by The Alternative Board
All businesses claim to value their employees and to be committed to a culture that recognizes and rewards employee achievements. But success in this effort may be elusive, particularly if employers...
14 Habits Of Highly Successful Business Owners
May. 21, 2021 | Posted by The Alternative Board
Success doesn't happen by chance. Highly successful entrepreneurs share many habits, and they often incorporate small practices into their daily routine. We asked our TAB members what habits have...
Use Your Company Culture as a Competitive Advantage
May. 18, 2021 | Posted by The Alternative Board
Every business needs a competitive edge, whether it’s in the quality of their products or services, their dedication to customers, or some other aspect they can leverage to outdo their competitors....
When the Time Comes to Fire a Family Member
May. 11, 2021 | Posted by The Alternative Board
Terminating an employee isn’t something business owners and CEOs relish. When the situation demands some drastic action, however, it’s necessary to follow through for the good of the business. The...
17 Essential Traits of Successful Entrepreneurs - Part 2
May. 10, 2021 | Posted by The Alternative Board
In our last post, we began to review 17 Essential Traits of Successful Entrepreneurs. Here we will continue looking at additional great tips from the TAB community.  #8 Endurance in the face of...
17 Essential Traits of Successful Entrepreneurs - Part 1
May. 10, 2021 | Posted by The Alternative Board
While a great idea and some capital may be essential for a successful business, the most critical ingredient for a successful venture remains the entrepreneur. This is why many successful venture...
How to Sell During Times of Uncertainty
May. 6, 2021 | Posted by Phil Spensieri
If your business is struggling right now, you may be wondering if there’s anything you can do to improve your sales. While there’s no guarantee that any specific strategy will accomplish this during...
Managing Family Business Conflicts
Apr. 29, 2021 | Posted by The Alternative Board
Small business owners and CEOs have plenty to contend with as part of their normal daily operations. When the business is family-owned, a different crop of challenges may emerge. That’s because “the...
Tips on Effective Business Succession Planning
Apr. 27, 2021 | Posted by The Alternative Board
With many family businesses, the time to think about succession planning starts on Day One. It’s a complicated subject, sometimes fraught with emotional baggage, but is critically important,...