1. Strategic Thinking
Successful leaders think strategically and see the big picture. Moreover, they imagine what their business and the market might look like three to five years or even a decade ahead, thereby anticipating any obstacles, opportunities, and changes that can be impactful. They then create strategies to align people, processes, and resources with the organization’s goals; overcome any obstacles; and take advantage of the opportunities in front of them. Effective strategic thinkers also know how to develop contingency plans for risks and disruptions.
2. Effective Communication
In addition to taking thoughtful approaches, heads of companies are also great communicators. Case in point: Many have excellent communication skills that enable them to rally employees around a shared mission. Through memos, town halls, 1-on-1 meetings, and more, they consistently foster open and regular communication. This enables such leaders and managers to share wins and failures, which helps builds trust and motivation among employees. They also use these multiple channels of communication to listen proactively and gain insights from employees at all levels. By doing so, they’re able to explain strategies, objectives, and priorities to gain alignment and buy-in, as well as provide clarity to enable independent decision-making and action.
3. Accountability
The best leaders “walk the talk” as they model the culture, values, and behaviors expected of employees. Additionally, they demonstrate integrity, accountability, and a strong work ethic that sets them apart as trusted role models for the organization. One prime example is East West Bank chairman and CEO Dominic Ng. Since taking the helm in 1991, he has transformed the Pasadena-based bank into a successful global full-service commercial enterprise with his business acumen and innovative methods. In fact, there’s no better evidence of this than the sheer number of accolades bestowed on him over the course of the past three decades.
4. Integrity and Ethics
Successful business leaders possess a strong sense of integrity and ethics. They are honest, transparent, and ethical in all their dealings, and they hold themselves and their employees accountable to a high standard of conduct and success. This helps to build trust and credibility with stakeholders, which is essential for long-term success.
5. Growth Mindset
CEOs, entrepreneurs, and industry thought leaders also have a growth mindset and believe abilities and talent can be developed through effort and persistence. As such, they view feedback and mistakes as opportunities for learning. Additionally, leaders invest in continuous self-improvement strategies and employee development, all of which help the cultivation of individual and organizational talent and fuel innovation and sustained success.