If you lead a team or own a small business, there are some distinct leadership skills that you need. These traits not only ensure efficacy and efficiency on the job but also contribute to overall company success and the business’ bottom-line.

Leadership traits that small business owners should possess are:


When your team, staff, or employees talk to you, listen. Be attentive and focus on the person speaking with you. If you are distracted and unable to pay attention, arrange another time to talk. Failure to pay attention to the members of your team may make them feel unvalued or not respected.


Be responsive to the needs of the business and your staff. Hear what they say and respond to their concerns, queries, or comments, accordingly.


Even top-notch, Fortune-500 leaders make mistakes. Be humble and admit when you are wrong. Humility is a common trait among effective and inspiring leaders.


A small business leader or manager should be discerning about who they hire and choose to work with. Surround yourself with talent and there is a ripple-effect that can be beneficial for your business overall.


It is not practical or prudent to try and do everything independently, which is why a good leader is able to effectively delegate tasks. This also gives other team members the chance to shine, perform, and show what they can do.


It is important for small businesses to always be thinking toward the future. An effective leader will be constantly looking for ways to expand and move the product, service, or brand into the ever-changing market. Complacency can cost small companies.


Effective leaders identify and convey clear expectations and goals- as well as hold individuals accountable for progress made toward these objectives. A good leader can admit when they, too, are responsible for an error, mistake, or issue.

Want to learn more about setting your company or small business up for success? Talk with the experts at Magis Funding today!