Set a clear and compelling vision. Sell that vision constantly and hold key people to account in achieving this vision. Give them the tools and resources to achieve it and celebrate when the vision is achieved.
At Hawthorn we set a vision called 5-2- 50. In five years we wanted to have won two flags and have 50,000 members. It was an incredibly audacious goal. It was simple to understand and simple to remember.
I challenge SMEs to have a vision like that rather than some fancy mission statement written by the board and managers that nobody has bought into.
Set 12 month and three-year goals for your personal, family and professional life. Share them with your partner. Failing to set a goal and giving it a red hot go is a failure. Have your people do the same and review constantly.
Balance family work and community responsibilities. We all have only 168 hours per week to fit in family, exercise, relationships, learning, work and community. As an SME owner you need to lead by example from the top down. There’s no point being the richest person in the cemetery.
Be resilient, persistent and optimistic. As a leader you must radiate these qualities.
Ban externalisation. Don’t blame others if things go off track. Ask yourself and your team what you are going to do about it. For instance, if there is a poor profit result in a store don’t blame the economy, work out how you are going to sort out the results.
Try unconventional strategies which are within the rules if conventional strategies are not working.
Focus equally on what not to do as well as what to do. Identify inefficiencies, excessive layers, outdated systems and roadblocks that overcome and present positive outcomes. Keep things simple.
Leaders are readers. Seek out new ideas by reading about other successful people and other organisations. Find a mentor and have an enquiring mind.
Under your watch determine what you want your legacy to be. What sort of organisation do you want to leave behind? What is your succession plan? You need to think what happens if this thing doesn’t work like 90% of other small businesses.
In your startup phase, have you got a one year lease on a shop and a secondhand phone system or have you got a brand new phone system and a five year fancy office lease? Can you get out of it without losing your shirt or are you stuck with the liability?
Be proud of your organisation, your town, your country and enjoy the journey and the things success brings.
Cara Waters is a former SmartCompany editor. Previously, Cara was a senior reporter for the Financial Times’ website and worked for The Sunday Times in London.
