A lot can be learned from studying the leadership styles of the most successful people in business. The late Jack Welch was one such interesting person. In fact, he was named “Manager of the Century” by Fortune magazine in 1999, almost two decades after he was appointed chairman and CEO of General Electric. He retired in 2001. So, what made Jack Welch’s style so noteworthy?
Basically, it came down to a handful of leadership principles that he pursued with dogged determination. Here they are.
Embody your business vision
It’s not enough to have a vision for your company. You must ensure that everyone from the person on the shop floor to the individual in the corner office fully understands and embraces it. This requires effectively communicating the company vision and articulating it in a way that resonates with others.
For your people to get behind your company’s vision, they must see you owning it with a passion that’s contagious and actively promoting it at every opportunity. This requires being future focused on every decision you take to the boardroom table and town hall meeting with your employees. This is the pathway to profitability and success in the marketplace.
Good communication is key
Hiding away in your office is not the way to lead any business. Certainly, you have work to do, meetings to attend, and phone calls to make. However, you must do a superior job of communicating with others. This is about being visible and accessible. It’s not enough to fire off emails or send out official letters and reports.
Communication that is effective needs to be in person, as well. Think about your staff and what information they need from you. It’s more than just a quarterly report and a congratulatory letter on working a certain number of years with the company. Your employees want to hear your thoughts.
They want to know what’s important to you and what you want for the company. Being open and honest enables them to feel respected and reminds them of their value to the operation. This is the way to build trust and loyalty.
Inspire and energize with enthusiasm
Closely related to the previous points, the best leaders are those who can really connect with others and move them emotionally. Your people want to feel inspired and energized. When you show your absolute commitment to the business and what drives you to help it reach new heights, you will infect others with your passion and they’ll quickly get on board.
No company is immune to problems and setbacks, and sometimes they can be quite impactful. That said, when you use your leadership position to proactively present a positive demeanor and maintain a “can do” attitude, no matter what the issue, employees will be reassured and step up to help.
Always be learning
It’s important that you see the lesson in every obstacle or adversity. This is a sure-fire way to identify problems down the road and take preventive action where you can to mitigate them. See challenges as a chance to do better next time, and your business will stay relevant and continue to improve.
In fact, you’re apt to learn more from your losses than you are from your wins. When you take time out for self-reflection and to sort out what went wrong in a given scenario, you grow personally and professionally. Your capacity to recover and make more thoughtful decisions is an example to others to do the same.
Be ready to make the hard choices
Leadership comes with some very difficult decisions. Having the courage to make choices that you know are going to be unpopular is essential to being a strong leader. Remember, you’re not in the job to make friends. Your primary goal is to do what is in the best interests of the enterprise.
This sometimes involves letting employees go, restructuring operations, closing down certain departments and making other moves that your staff may not agree with. In addition, it’s crucial that you make your decisions quickly and don’t take your time. People can sense when a change may be in the offing, and one of the worst things is to let the rumor mill run rampant while you hesitate.
Stay curious
One of the most valuable pieces of advice that Jack Welch had was to remain curious. This means remaining open to possibilities and considering all opinions and perspectives. Ask probing questions and find out why individuals may have a certain opinion. You may find a unique idea that helps solve a persistent problem or really drives the profitability of the firm.
Curiosity extends to making sure that you don’t incorrectly assign blame and give credit where it is due. It’s one way to readily connect with your staff and continue to build trust and respect.
Finally
While there are many leadership lessons from Jack Welch, the common denominator is to stay in tune with your team. When your people feel valued, it pays off in so many ways.