Why You Are Not Really a Business Leader
What does it take to be a business leader? Many people think that business owners automatically become business leaders once they reach a certain level of success. However, this is not really the case.
There is a big difference between business owners and business leaders, and not everyone who owns a business can be considered a leader.
This blog post will clarify the distinction between company owners and company leaders and why pawnshop owners and managers don't necessarily become "business leaders."
A Conversation That Sparked This Topic
So I had a conversation with a pawnbroker who kept on saying how he's a business owner and a business leader and how he's busy ALL THE TIME!
"I'm so busy! I have no time!"
I told him, "if you're always busy, then you do not have time to strategize and plan."
The next thing I know, I dropped the bomb by telling him, "the truth is you are not really a business leader; what you are is a micromanaging master. You've mastered the ability to micromanage your whole team, and that's the reason that you don't have any time to strategize or make other things happen."
He started to crack up and laugh.
I owned three stores with 65+ employees. At one point, I was a micromanaging master. I wanted to be involved in every single decision. There was no trust in the team. My brother and I were involved in everything because we were scared of them making a mistake.
What is a micromanaging master?
A micromanaging master is excessively involved in the details of a project or task. As a result, a micromanager is often accused of "not trusting" their team to do the job right.
Business Owner Versus Business Leader
Pawnshop owners and pawnbrokers with management roles do not automatically become “business leaders.” Just because you own or manage a business does not mean you are a leader. There is a big difference between the two. A business owner is someone who has started their own business or inherited one. A business leader is someone who has taken their business to the next level by inspiring others and making tough decisions.
Micromanaging is not feasible and you will burn out. Consequently, you will lose money.
Don't get me wrong, pawn business owners need to be involved in the day-to-day operations of their business. However, they should not be micromanaging every single task. That's where business leaders come in. Business leaders are able to take a step back and see the big picture. They're also able to delegate tasks and trust their team members to complete them.
If you're a business owner who is micromanaging every single task, then you're not really a business leader. You're just a business owner who is stuck in the weeds and not able to see the forest for the trees, so to speak.
So ask yourself, are you really a business leader? Or are you just a business owner who is masquerading as a business leader?
So what does it mean to be a business leader? I believe there are three primary characteristics:
- A business leader is passionate about their business. They love what they do and are constantly looking for ways to improve their business.
- A business leader is always learning. They are constantly reading books, attending seminars, and networking with other leaders in their industry.
- A business leader is coachable. They are always willing to listen to feedback and take constructive criticism.
If you want to be a business leader, start by developing these three characteristics. Passion, learning, and coachability are the foundation of every great business leader. Without them, you would never truly be a leader in your industry.
Are you a business owner or a business leader?
If you're unsure, ask yourself if you are willing to delegate tasks and make tough decisions.
If the answer is no, you are probably a business owner masquerading as a business leader.
What are some tips for business owners who want to become business leaders?
Consider a world and business where you don't have to micromanage everything. What would it be worth to you if you had more time and money than when you were micromanaging?
I believe it's priceless!
Here are four tips:
- Delegate: You can't do everything yourself, so delegate tasks to your team members and trust them to complete the tasks.
- Be decisive: business leaders need to be able to make tough decisions quickly and efficiently.
- Vision: business leaders need to have a clear vision for their business and be able to articulate it to their team members.
- Communication : business leaders need to be able to communicate effectively with their team members.
In Conclusion...
Are you a micromanaging master or a business leader?
While it’s true that owning your own business automatically makes you a business owner, this doesn’t mean that you are automatically a leader. In order to become a leader, you need to learn how to take a step back and let go of some control. This isn’t always easy for entrepreneurs who have worked hard to get their businesses off the ground, but it is essential if you want to grow your company.
If you can learn how to delegate tasks and trust your team members, then you will be well on your way to becoming a successful business leader.
Let me know in the comments if this was news to you and how my team and I can help you bring your business to the next level.
---------------------------------------------------------------------------------------------------------------Whenever you're ready, there are 3 ways I can help you:
1. Join the Pawn Leaders Community, it's a FREE Facebook Group with over 1500 pawnbrokers worldwide.
2. Get Access to the 5 Day Pawn Accelerator Challenge, where I go over Leadership, Marketing, Strategy and Epic Experience. Click here to get access.
3. Book Your FREE Pawn Strategy Call. It’s a free 1-1 call with me to gain clarity about where your pawn business is at and how I can help you achieve your goals, whether it’s better team culture, increased profit, or more customers. You can choose your schedule here.
Yigal Adato
Yigal is a 3rd generation pawn broker, and is now a mentor, coach and educator with the pawnbroking industry.
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