How To Lead Your Team To Profit

Posted by on Mar 6, 2014 in Blog

How To Lead Your Team To Profit

What does it take to be a successful leader? Some might say that it depends on the field or industry. The truth is that no matter what industry your business is in, whether it’s a small business, a large multi-national conglomerate, or even a national sports team, there are certain steps that each leader must take to successfully lead their team.

The following are the top three steps that each leader must take to successfully lead their team to success and profit, regardless of the field or industry.

Lead By Example

In order to be successful, it’s important that a leader be competent and understand their core business. No one likes taking direction from someone who doesn’t understand the business or hasn’t “been there” in the trenches themselves. It’s also impossible for a team to display ethical behaviour and integrity unless the leader displays these characteristics and holds themselves as well as their team accountable.

If you are a leader that is “new” to a specific business, take the time to understand the ins and outs of an operation before you begin to direct others in how to best accomplish your company’s goals. If you’ve been with the company and had the same team for a while, take the time to brainstorm with your team members about ways to accomplish your objectives, as this will build mutual respect and trust between you and your direct reports.

Ensure that you are always giving your employees a high standard of ethical behaviour to model and follow. Make certain that you say what you mean, and mean what you say, and don’t go back on your word. By displaying competence, and integrity, you can ensure that you will earn your team’s respect, and thus will present a unified front to any task or goal that you and your team must accomplish.

A Leader is Not Just a Director – Sometimes You Have to Play Matchmaker

It’s also important to take time to get to know the players on your team so that you know each member’s individual strengths, weaknesses and talents. When assigning tasks, make certain that you assign the correct people with the correct abilities for specific tasks. It’s not just enough to delegate tasks, it’s important to match tasks with those who have the best ability to complete them in an accurate, timely and ethical manner.

Once you’ve familiarised yourself with your people and their skills, and delegated specific assignments, give them clear guidelines and deadlines and then give them the freedom and authority to come up with the answers and get the job done. No one likes someone looking over their shoulder, or being excessively micromanaged, so match people to specific tasks based on their strengths, empower them to be able to get the job done, and then get out of their way while they get the job done.

Give Objective Feedback and Frequent Praise – Catch Your Team Doing Things Right

While you don’t want to micromanage your team, it is still important to provide frequent feedback to your team members. Don’t wait for a problem or a failure to review your team’s work. Let them know when they are doing things right, and look for an excuse to praise them when they do get it right. Everyone likes to feel as though their task is integral and that the work that they are doing is important to someone. This also builds self-esteem, as well as energy and enthusiasm to see your team through on long or difficult projects that can typically sap creativity and drag out the process of accomplishing a goal or objective.

Look for opportunities to allow your team members to contribute their individual expertise and knowledge by allowing them to be part of the process for setting goals and objectives as well as refining policies and procedures where possible. For those times where you do need to address an issue with an underperforming member of your team, wait until after any team meetings or sessions are over and do so privately so as to minimise discomfort and discord so that your project doesn’t end up being derailed by a sullen or discontent member of your team.

Following these three steps can help any manager lead their team to greater success and more profits for their company, group or organisation.