There are several key factors that differentiate an average strategic business leader from a successful one. Some of the most important differences include:
1. Strategic vision: Successful strategic business leaders are able to identify and pursue new opportunities, and are able to develop and implement effective strategies to achieve their goals. They have a clear and compelling vision for the organisation, and are able to inspire others to work towards achieving that vision. Average strategic business leaders, on the other hand, may lack a clear vision or may struggle to translate their vision into action.
2. Leadership skills: Successful strategic business leaders are effective leaders who are able to inspire and motivate others to achieve their best. They are able to build strong relationships with employees, customers, and other stakeholders, and are able to communicate effectively and make difficult decisions. Average strategic business leaders may lack strong leadership skills or may struggle to effectively lead and manage others.
3. Adaptability and flexibility: Successful strategic business leaders are able to adapt and respond to changing market conditions, and are able to pivot their strategies as needed. They are able to think on their feet and are able to navigate a rapidly changing business environment. Average strategic business leaders may struggle to adapt to change and may be slow to respond to new challenges and opportunities.
4. Innovation and creativity: Successful strategic business leaders are innovative and creative, and are able to identify and pursue new opportunities. They are able to think outside the box and come up with new and creative ideas. Average strategic business leaders may lack a creative mindset and may struggle to come up with new and innovative solutions.
5. Resource management: Successful strategic business leaders are able to effectively manage and maximise the resources of the organisation, including people, financial resources, and other assets. They are able to develop and implement effective business processes and systems, and are able to ensure that resources are used efficiently and effectively. Average strategic business leaders may struggle to effectively manage resources or may waste resources due to inefficiencies or poor decision-making.
6. Stakeholder management: Successful strategic business leaders are able to build and maintain strong relationships with key stakeholders, including customers, employees, partners, and investors. They are able to communicate effectively and build trust and credibility. Average strategic business leaders may struggle to effectively manage stakeholders or may have strained relationships with key groups.
7. Continuous learning and improvement: Successful strategic business leaders are committed to continuous learning and improvement, and are able to foster a culture of learning and development within the organisation. They are able to stay up-to-date on industry trends and changes, and are able to adapt and respond to new challenges and opportunities. Average strategic business leaders may be resistant to change or may be slow to adapt to new developments.
Overall, successful strategic business leaders are able to identify and pursue new opportunities, develop and implement effective strategies, and effectively lead and manage others. Note that starting in January 2023 Start Smarter will be publishing a wealth of tips and information for startups and businesses, specifically focused on becoming a successful strategic business leader. Start Smarter notes that successful leaders are adaptable, innovative, and able to navigate a rapidly changing business environment. They are also able to effectively manage and maximise resources, build strong relationships with stakeholders, and foster a culture of continuous learning and improvement. Average strategic business leaders may lack some or all of these skills and abilities, and may struggle to achieve the same level of success as their more successful counterparts.
