The 3 R's of Business Leadership

Guest post by: Marian Banker
Become an Author

Free PDF Download
Two Steps to a Winning Strategy - By Marian Banker

Are you a leader? If you're the owner of a business, by default the buck stops with you. But that doesn't necessarily mean you're functioning as a leader.

When you don't step up to the plate, take charge, make a decision on a timely basis and see that it's carried out, you're creating a potential problem. Your job as leader is to make decisions and take action. When decisions are put off because you're not sure what decision to make, or you take action without really making a decision, problems can start to pile up. That's when your business can get into trouble.

Yes, it's true, every business decision involves risk. As the leader you bear the responsibility to make the right decision in order to reach your reward. These are what I call the 3 R's of Leadership: Risk, Responsibility, Reward.

Risk

Let's face it, with any decision there is the risk of making the wrong choice. What do you need in order to make the right choice? One of the first places to check is the Plan you have for your business. Consider which choice will most likely lead to your goals? Also assess if the marketplace and economy will support the decision and are your internal operations able to support it?

What you're seeking when there's risk at stake, is confidence. The key to gaining confidence is to gather all the pertinent information, analyze it and base your decision on what you learn.

Responsibility

Since it's your responsibility to make the decision, the ball is in your court whether you like it or not. You also have to create and carry out a plan of action pertinent to your decision. You gain new confidence every time you carry out your plan of action and assess the results.

It's your responsibility to know what is going on in your business at all times. You can only do that if you have ways to get the information you need. So it's your responsibility to have adequate systems and procedures in place to carry out any decisions you make and provide you with information to assess results.

Reward

When you lead your business, taking the risk and bearing the responsibility, there will be a reward. Know what your reward should look like. Keep it in mind at all times as you make choices that take you closer to your target. Reaching or surpassing the goals you've set for yourself is your best reward.

Prepare yourself to take the risk, bear the responsibility and reap the reward of being a leader?

Eliminating the Fear of Failure

Leadership fails without management

The Essence of True Leadership

LEADERSHIP IS CREATIVE THINKING NOT REACTIVE THINKING

Keys to Business Leadership

INVENTORIES CAN BE MANAGE BUT PEOPLE SHOULD BE LEAD.

Succession Leadership is the Success Lynch Pin for Individuals, Businesses and Organizations

Learning at the Frank Sinatra School of Leadership

Achieve Sales Leadership Mastery and Grow Sales Revenue

What is True Leadership?

Integral Leadership - A Useful Model for Leadership Development

Is your leadership effective?

Are You Growing?

What Is The Meaning Of Leadership?

Eight Essential Qualities of Passionate, Powerful and Proven Leaders, According To Your Strategic Thinking Business Coach

Realizing and Breaking your "Glass Ceiling" - Part 5

What Does Leadership Mean

Assessing and Building Your Leadership Pipeline

The secret questions of successful thought leaders

What is Leadership

Home > Business-Coach > Marian Banker > The 3 Rs of Business Leadership > Google +

Free PDF Download
Two Steps to a Winning Strategy - By Marian Banker

About the Author: Marian Banker

RSS for Marian's articles - Visit Marian's website
A coach with passion for her work and her clients' success, Marian will inspire and challenge you to find and stay on your right path. She is a seasoned executive, entrepreneur and professional and shares that expertise with her clients. You can count on her as a partner and guide to accelerate the achievement of your goals.

Marian is co-producer and host of the annual Small Business Summit 2006-2009, an all-day conference that brings together small business owners and technology providers. She is creator of the "Business Success System", a step-by-step process with tools, text and a virtual classroom atmosphere. Since 1995, has coached Entrepreneurs, Professionals and Executives in transition to become business leaders. Emphasis is on what it takes to lead a business to success. Holds a Masters in Business Administration and has over 25 years experience as senior executive, consultant, entrepreneur, educator, mentor and coach. Founded Prime Strategies in 1996 to provide the small business community with coaching, consulting and training in business leadership, translated into plain English for the typical small business owner.
Click here to visit Marian's website.

More from Marian Banker
Warning Signs Checklist
Partner Questionnaire

Share this article. Fund someone's dream.

Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

The 3 R's of Business Leadership

Related Articles

Related Forum Posts

Share this article. Fund someone's dream.


Name:
Email: