But it’s not a skill that is confined to entrepreneurs – it’s ingrained in all people that have the ability to lead. From sports captains to politicians, there are some that do and others that are happy to be told what to do.
Not that there’s anything wrong with that. While some aspire to be leaders in their field, others are happy to work hard under the guidance of others – it’s what makes the world go round. However, when a business or organisation doesn’t have a strong leader, that’s when things start to unravel. You only have to look as far as Labour, gathering this week in Brighton for its annual conference, to see an organisation that hasn’t just unravelled, but has shredded itself to pieces. And in its leader, Jeremy Corybn, there is a glaring lack of decisiveness from a man who is not a natural leader. The “decision making by consensus” approach, that knocked his plan for a debate on the future of Trident clean off the conference agenda, proves that the party will meander aimlessly with no direction. Within days of taking the role, a series of gaffes and u-turns demonstrated that whatever talents he does possess, strong, decisive leadership is not one of them. From his much-documented failure to sing the national anthem, to being a confirmed Eurosceptic, but campaigning to keep Britain in the EU and believing we should cut the deficit by halting tax cuts for corporations – yet his party backed cutting corporation tax to 18 per cent in the Finance Bill. All this shows a man with his hand on the tiller, but the inability to steer his ship in a single direction. Read more from Charlie Mullins:
Of course, thankfully, Corbyn is not an entrepreneur, but the same principles do apply. Decisive decision making is essential for business success. It may sound like this makes entrepreneurship a lonely path to follow, but no man is an island as they say and the best entrepreneurs have a solid and trusted team around them to bounce ideas off. But the buck stops with the business owner and it is their guile and risk-taking that will ultimately be the difference between success and failure. Of course, not all decisions end in success. Just ask England rugby captain Chris Robshaw. His decision on Saturday night to kick a penalty to the corner with his team three points and three minutes from the final whistle proved to be the wrong one. But he made it, and his team followed him and they will continue to for the rest of the tournament. All entrepreneurs know there is always a chance of failure in any decision. But it is best of them who know that failure to make a decision means they’ll always be a million miles away from success.
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