Back to Basics – Business Blog series by Dilip Barot of Creative Choice Group/Creative Choice Homes
As an entrepreneur and founder of Creative Choice Group/Creative Choice Homes, it is my firm belief that successful businesses are the direct result of strong leadership. And like any good student when you look for leadership examples to follow or emulate, there is certainly no shortage of influential leaders throughout history that have made an impact on the industry, the economy and even the world. From presidents, to economics like Alan Greenspan to technologists like Bill Gates, there are figureheads across all industries who continue to make a significant difference. What is it that makes these people stand out? What exactly are the skills and characteristics of a good leader?
According to Entrepreneur Magazine, there are 10 traits that influential leaders share. They include:
- Mission: Leaders know what their mission is. This mission encapsulates the purpose of their business and is clear to every employee.
- Vision: Leaders know where they want their organization to go. For example in our Palm Beach Gardens, Florida business, we focus on commercial real estate investment and property management. When I started Creative Choice Homes & Creative Choice Group, I recognized an opportunity to capitalize and create value in low income properties. The vision was clear… bring both affordable housing and advanced technology to residents. Helping others and stimulating economic growth in the local community is something that brings myself and my team great pride and has fostered our company success.
- Goal: Setting goals that are measurable and achievable is a key component to being a successful leader. If not, you may find yourself off course, which will waste important resources (time, money, people, and equipment), pursuing a strategy or plan without knowing if it will truly succeeded.
- Smarts: Having expertise in your field is also important. You must be seen by your investors, employees, and your customers as being competent. A leader is in need of champions and followers. You must learn to inspire others to drive the momentum needed for long term success.
- Team: Realistically, few executives possess every skill needed to run their business. Wise leaders assemble effective teams of experienced, credentialed, and capable individuals who can supplement any voids in skill sets. I am very lucky to have leading experts in our Palm Beach Gardens, Florida office.
- Communication: A strong mission, vision and goals are nice on paper but it does little good unless an executive can convey these ideas to stakeholders inside and outside the organization.
- Interpersonal skills: Developing rapport with others is a critical success factor. This helps a leader seem approachable, likeable, and comfortable in their position.
- A “can do” attitude: Others are motivated to excel by watching their boss take the lead, champion clear direction and drive results.
- Inspire: In addition to having a good working rapport and positive attitude, leaders need to inspire. One good example of inspiration in my opinion is the Infocity community we built in India. Here you see a clear vision of a planned community coming to fruition and thriving thanks to the shared inspiration by both the investors and residents.
- Ambition: The old adage “what have you done for me lately” applies to leaders too. Employees, customers and investors will tire of accomplishments from days gone by. It is important to continue to move forward, drive momentum and commit to a spirit of winning.
Being a leader takes hard work, personal commitment and most of all heart. The next few weeks we will explore in more detail specific actions to boost leadership skills.