While there is a lot to be said about traditional ways of running a business, it is innovative leaders that often achieve the best results. They are the force behind all major changes and improvements that push their respective industries forward. Every measure and technique in use today were once new. They were created by innovative leaders who saw their potential and weren’t afraid to risk their implementation. Their ability to think outside the box is especially important when it comes to managing risks. Some researches show that their companies perform up to 25% better in those situations, compared to the ones that are run by non-intuitive leaders. So, what traits they have that make them excel in modern business?
Innovative Leaders Are Courageous
When faced with a crisis, innovative leaders act with determination. That doesn’t mean they are rush or act without a plan. They will consider all alternatives carefully, but when it is time to act, they will do so decisively. They aren’t afraid of conflict of opinions and won’t shy away from an argument if they think they are right. When trying to emulate this trait, keep in mind the difference between being assertive and being aggressive. People often confuse these two. Influence people by the strength of your arguments and approach, not by forcing it on other people. Ultimately, this will ensure you get the respect of both your bosses and employees.
Innovative Leaders Seize Opportunities
One thing that will guarantee success in business, as in life, is seizing an opportunity. Recognizing them is not always easy, though. It takes an innovative mind to see an opportunity where everyone else sees only disaster. A true innovative leader will be able to correctly assess their and their team’s strengths and abilities before committing to action. An important part of this is analyzing past opportunities and understanding the reasons that led to the decision to take them or pass on them. By comparing your decision-making process and the results, you can easily spot a pattern that will help you in the future.
Innovative Leaders Listen to Others and Encourage Them
One thing an innovative leader excels at is utilizing all assets at their disposal. The most important of those is often the human factor. They will go out of their way to seek the opinions of their team members. Involved workers always outperform, because of their increased sense of self-worth. This is a crucial advantage many authoritative leaders completely ignore and suffer the consequences of that decision. But to get to the point where you can rely on your staff, you have to invest in them. That means creating a plan that will allow them to gain knowledge and skills necessary to perform well. Only then will you be able to get the maximum from your people. Makes sure that they are all on board with plans. Discuss all your intentions with them, so they can get an accurate feel about the direction you are taking. That way they can support you the best.
Innovative Leaders Are Curious
Innovative leaders possess a desire to know more, not just about their business. By nature, they are curious people who are always finding new areas to expand their knowledge. They will endeavor to learn trading, although their company might not be in that business, just to have more complete knowledge of the markets. They will learn codding to better understand the process. Often, they will learn a new skill just for the fun of it. Their curiosity allows them to always be on top of their game. Their development of new skills usually proves to be a crucial advantage over their counterparts. It allows them to see angles and approaches neglected by non-innovative leaders.
Innovative Leaders Keep an Open Mind
Perhaps the greatest strength of innovative leaders is their open-mindedness. This allows them to accomplish two important objectives. First, they can often come up with solutions others would ignore or simply overlook. Often, these solutions are completely out of the box, what some would call out of the left field. But once implemented, the most common reaction is “How come I didn’t see that?” Solutions that seem obvious after they are applied are the result of an open mind. Second thing is that they are willing to stop and rethink a solution if it isn’t working as intended. Sticking to your guns is all well and good, but at once point it becomes stubbornness. This is just bad leadership and should be avoided at all costs. Sometimes, even the best-laid plans fail and that is a simple fact of life. The sooner you realize this and change course, the less damage you will inflict on your company.
Innovative leaders have some inherent traits that make them effective. Most of the time, they are born with them, but that doesn’t mean you can’t learn them. By studying the behavior and decision-making process of great captains of industry, you can learn to emulate them in time.