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4 Habits of Great Business Leaders

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The following excerpt is from Brian Tracy’s book Million Dollar Habits. Buy it now from Amazon | Barnes & Noble | iTunes | IndieBound It’s not easy to rise to a position of leadership in an organization or society — the competition is fierce. Only the people who are the best equipped to acquire leadership positions and then hold on to those positions rise to the top in any area.

Leadership studies have identified more than 50 different qualities leaders have or develop over time. Of those qualities, a few seem to be present in almost every leader who accomplishes great things and earns the undying respect and loyalty of other people. Let’s take a look.

Related: 10 Books Every Leader Should Read to Be Successful

Develop a vision.

To become a person of character and a leader in your community, you must develop the habit of vision. You must learn to project forward several years into the future and develop absolute clari­ty about what you want to accomplish and what it will look like if you’re successful.

One way to develop a vision for each part of your life is to conduct the “magic wand” exercise. Imagine you could wave a magic wand and make your life perfect in every way. Imagine you have no limitations on what you can be, have or do. Create an image of how your life would be if it were perfect in every way.

Imagine you have no limitations of time, money, resources or ability. Imagine that everything is possible for you. Just as you would design your dream house if you had an unlimited budget, take some time to design your “dream future” as if you had unlimited abilities and resources.

The greater clarity you have regarding your long-term vision, the easier it will be for you to motivate yourself and inspire other people to work with you to make that vision a reality.

Related: 50 Rules for Being a Great Leader

Be the best at what you do.

In business, the most important long-term vision you can have for your organization is to “be the best.” Identify a quality of your product or service that’s relevant and important to your customers and then focus all the energies and creativity of your organization toward achieving superior performance in that area. Developing the habit of thinking in terms of making your business the very best in your industry is an essential quality of visionary leadership. Without this commitment to excellence, you’ll automatically default to mediocre or merely satis­;factory performance.

Related: 15 Ways to Lead With Effective Communication

Dare to go forward.

The third most common habit of great leaders at every level is the habit of courage. Many people have exciting hopes, dreams and visions for the future, but only a few have the courage to take the necessary risks to turn those visions into realities.

The most important part of courage is the willingness to act in the direction of your goals and dreams, with no guarantee of success. Courage requires you to take risks with time, money, emotion and other resources. Courage requires you to accept the possibility of losses, setbacks, obstacles, difficulties and temporary failure.

It’s impossible to succeed without failing, at least for a time. You only learn to succeed by failing and then evaluating the reasons for your failure. The faster you fail in a forward direction, the faster you succeed.

Related: 22 Qualities That Make a Great Leader

Overcome your fears.

You develop the habit of courage by moving toward the things you fear. From this day forward, make it a habit to confront your fears, do the things you fear and deal with the people and situations that make you afraid. Each time you face a fear and overcome it, not only does your courage increase, but so does your self-esteem and self-respect.

Develop the habit, from this day forward, of identifying the things you fear may be holding you back and then confronting each one of them until they contain no more fear for you. As actor Glenn Ford once said, “If you do not do the thing you fear, the fear controls your life.”

Make it a habit to do the things you fear, and the death of fear is certain. As your level of courage and confidence increases, your fears and doubts will decrease. The more you confront your fears and eliminate them, the stronger and more confident you will feel. As your fears diminish, you’ll become more powerful and persuasive. You’ll move forward like a rushing flood. You will become unstoppable.

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Steve Jobs Shares the Secrets to Successful Team Leadership in This Throwback Video

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Though Apple co-founder Steve Jobs died six years ago, his outsized influence is certainly still felt. A recently surfaced video interview with the late CEO — which based on his haircut seems to place him in the mid-1980s — shows him sharing his views about best practices for hiring and what makes a great manager.

Up front, he says that the greatest employees are the ones who have the ability to manage themselves. But they can only do that if the leadership at the top is clear about what they want. “What leadership [is] having a vision, being able to articulate that so the people around you can understand it and getting a consensus on a common vision,” Jobs says.

Related: Steve Jobs Systematically Cultivated His Creativity. You Can Too.

Jobs goes on to explain that one of the most important jobs of someone in his position is recruiting new employees. He notes that he isn’t necessarily looking for someone who is an industry veteran, but rather someone who understands where technology is and where it could go in the future. He also recalls a moment when as the company was growing, that he and others executives thought they needed “professional managers,” but that ultimately turned out to not be the case.   

“We went out and hired a bunch of professional management [and] it didn’t work at all. Most of them were bozos,” Jobs says with his characteristic brutal candor. “They knew how to manage, but they didn’t know how to do anything. If you’re a great person, why do you want to work for somebody that you can’t learn anything from?”

Related: What the Creation of Apple’s iPhone Teaches Us About Innovation

Ultimately, he notes that the best team leaders are the ones that aren’t angling for power for power’s sake. “They are the great individual contributors who never, ever want to be a manager,” Jobs says. “But decide they have to be a manager because no one else is going to be able to do as good a job as them.”

Do you agree with Jobs’s assessment? Let us know in the comments and check out the full video below.

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How to Keep Introverted Employees From Quietly Leaving Your Company — in Droves

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The Myers-Briggs Type Indicator (MBTI) has been around for decades. Employers use it to uncover job candidates’ personality strengths and place them in the right role. MBTI results also help identify natural leaders and great communicators.

Related: Introversion Is Not A Weakness, So Why Are You Treating It Like One?

Yet, there’s little talk about how people’s results impact their satisfaction once they’re in a job. When leaders ignore employees’ happiness, it’s hard to keep productive talent around.

Interestingly, the Sunnyvale, Calif.-based publisher of the Myers-Brigg Type Indicator, CCP, Inc., conducted new research that dove into how personality impacts workplace well-being. It looked at five aspects of well-being: positive emotions, engagement, relationships, meaning and accomplishments.

After surveying 3,113 participants, the company, in a September report, revealed that introverts have lower well-being in all of these areas. This isn’t all that surprising: An introvert is less likely to speak up about what’s negatively impacting him or her.

It is shocking, however, that employers aren’t being more proactive. If leaders don’t find a way to improve the workplace happiness of introverts, those people will leave and take all their unique skills with them.

Want to avoid that happening to you? Here are some ideas to help connect with the introverts in your office and better understand their wellness-related needs in the workplace:

Be a chameleon.

Many leaders make the mistake of managing everyone the same way and assuming the results will equate across the board. But there’s a huge flaw in that logic: Every person, in fact, perceives and processes guidance differently. Some need more help in certain situations; some need less. So, it’s up to leaders to customize their approach.

Leaders ignoring the needs of their introverts can hurt their overall workplace well-being. The reason: Introverted employees will feel less engaged and have a harder time reaching their goals. This may then lead to feelings of isolation and disappointment, negatively impacting these workers’ mental health.

Related: 6 Truths on Why Introverts Make Great Leaders

When managers recognize introverts’ differences, on the other hand, they can help those employees succeed, and feel more accomplished. For example, as New York-based co-founder of the digital agency Ready Set Rocket, Aaron Harvey, pointed out, introverts have trouble speaking in front of people. “If someone struggles in brainstorming sessions, simply stop by their desk in advance and ask them to be prepared with a few ideas around a specific topic,” Harvey advised in an email. “This can help them feel confident, joining a conversation that organically leads to real-time ideation.”

Consider other situations when introverts might feel that they are out of their element. For instance, consider ways in which shy employees might meet new people.

Talking with new clients, after all, probably makes them nervous. So, reduce their stress by having an extrovert they’re comfortable with tag along. Having a familiar face present will help get them through the situation.

Scrimmage employees’ skill sets.

Extroverts’ strengths are obvious. They’re good communicators, enjoy building relationships and freely share their ideas — all skills that contribute to their well-being. These traits make it easier for them to create a support system at work and to speak up about what skills they have to offer.

Introverts’ skills are more hidden, so leaders don’t always see what they bring to the table. Since introverts are less likely to communicate what responsibilities they’d like to take on, they’re left feeling unfulfilled.

Skills-assessment tools, like the MBTI, are a great solution. They reveal natural strengths and help managers assign introverts more meaningful work.

After realizing your introverts’ skills, give them more opportunities to use them. Assign tasks and projects that allow them to maximize their strengths. Fully and effectively contributing to the team will improve their feelings of meaning and accomplishment.

Arlington, Va.-based Greg Wester, senior vice president of marketing and business development at the mobile content discovery platform Mobile Posse, likes to mix it up with his employees. To help everyone on the team develop his or her skills, Wester told me, the company poses team challenges that mix introverts and extroverts.

“We’ve found that people are super competitive about winning,” he said by email. “The different types of exercises give people a variety of ways to participate, get involved and hopefully boost their well-being.”

Currently, Mobile Posses’ employees are working as teams to create themed videos. Each team has eight cross-functional, cross-personality employees. They’re all challenged to use their individual skills to create a video representing their perspective on a company core value or vision.

This approach to skill-building, Wester said, helps introverts connect with the entire team and gives them more confidence about their value in the organization.

Keep kindred spirits together.

While it’s good to have both types of personalities working together, introverts may become stressed if they’re paired only with extroverts.

For instance, imagine walking into a room where everyone is talking loudly and the words don’t make sense. The situation is overwhelming. This is how introverts feel when they’re surrounded by extroverts. It’s as though no one is speaking their language, and they feel isolated as a result.

What’s more, iIntroverts and extroverts communicate differently. To maintain well-being, introverts need to find like-minded people they can connect with and recharge their energy with.

Rick Gibbs, a performance specialist at the Kingwood, Tex.-based HR services company Insperity, pointed out that following personality assessments, introverts can find people who are like them and make healthy connections. “The process itself can help improve communication, build teams, and expand office friendships,” Gibbs said in an email. “More introverted employees will be able to identify others with similar communications styles.”

Related: How Thinking Like an Introvert Can Help You Get Ahead in Business

So think about conducting personality testing at your workplace. Then, hold a meeting where everyone can discuss his or her results. This will show introverts that they are not alone. They’ll be able to communicate better and deepen their relationships — and with them their personal well-being — at work.

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Hard Work? It's Not All It's Cracked up to Be. It May Even Be Irrelevant. Here's Why.

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From a young age, we’re raised to believe that we can accomplish pretty much anything so long as we work hard enough to achieve it. And, for the most part, that makes sense, at least intuitively. If you study for three hours while your roommate studies for one, you’ll probably do better on the test. If you spend 50 hours at work every week while your peer spends 30, you’ll stand a better chance of getting a raise or a promotion.

This idea follows us at every stage of our lives, and it echoes a cornerstone belief of Western culture: As long as you work hard, you’re going to be successful. But there’s a problem with this philosophy: Hard work isn’t always enough.

The Netflix approach

This idea is hard to accept at first, if you’re a hard worker who invests major time and effort to get what you want in life. Perhaps then, it’s best to introduce the alternative notion, using a corporate example.

Netflix (yes, the company responsible for those late-night television binges) has found success in part because it abolished the idea of hard work being the sole determining factor in an employee’s progression within the company.

Netflix formally introduced this idea in a 2009 slide deck explaining the company’s culture, but the idea dates back to 2001. Since her departure from Netflix, the company’s former chief talent officer, Patty McCord, has been on podcasts and spoken in interviews about the rather different work ethic Neflix evolved.

After experiencing financial trouble in 2001, the company made a bold move to lay off a third of its employees — not based on how long they’d worked there or how hard they’d worked, but solely on what they contribute, and how they impact the company’s bottom line. This infuriated some long-time, hard-working employees, but those who remained ended up getting more done because they didn’t have to correct others’ mistakes, or work around unnecessary teammates.

Even after that initial layoff, Netflix paid almost no attention to employees’ hard work. It allowed unlimited vacation time and flexible hours, focusing on results and innovation instead of the number of hours worked or the effort spent. This system resulted in the letting go of many employees who’d worked hard and performed well. But it also resulted in the better performance of the company (and, in many ways, in less stress for the remaining employees).

The problems with hard work

The Netflix example may seem harsh, especially if you’ve based your career around working hard. What if you too were fired after a decade of putting in long hours and genuinely trying your best?

Still, there are three main problems with hard work that an alternative culture or approach could correct:

“Hard work” doesn’t equal “results.” First off, hard work doesn’t necessarily correlate with results. For example, it doesn’t matter if you put 100 hours in to the design of your landing page; if your site doesn’t convert,you may as well have spent one hour.

Hard work isn’t efficient work. Next, consider that hard work isn’t necessarily efficient work. If it takes the person next to you three hours to complete a task that you could have completed in an hour, that extra hard work may have actually cost the company unnecessary time and money.

Hard work doesn’t encourage innovation. Finally, focusing on hard work doesn’t encourage innovation or novelty. Instead, it encourages repetition and persistence. Those factors can be good, but you also need some drive to try new tactics, incorporate new ideas and learn new things in your life.

What to focus on Instead

None of this is meant to imply that hard work isn’t valuable — only that your hard work should be reserved for when it counts the most. So, as an individual (whether you’re a professional or an entrepreneur), what should you be focusing on instead?

Efficiency. Focus on your efficiency. Instead of spending more hours, emphasize doing more with the hours you already have. For example, you could automate certain processes, delegate work beneath your paygrade or find new strategies to accomplish more within a set time frame. You can also work on eliminating redundancies in your workflow, or on abandoning tasks, meetings, and projects that eat up your time unnecessarily.

Results. Focus on results, prioritizing the work that seems to yield the highest return on your time investment. What’s really going to help you succeed? Reduce or eliminate anything that doesn’t fall in line with that vision, and don’t be afraid to make cuts.

Improvement. Focus on improving yourself and your surroundings. Instead of working hard on level one, spend some effort trying to get to level two. Invest in yourself, learning new skills and gaining new experiences, and invest in your environment by training your employees and making sure you have the best tools available for the job.

Hard work is incredibly valuable, but we shouldn’t keep thinking of it as the most important factor for success. Instead, we should see it as one of many factors that can help us, but won’t, in itself, necessarily save our businesses.

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