There are many things to consider when starting a business. One of the most important issues in determining long term success can be cultivating the right type of company leaders. At Keeping Your Balance, we understand that when you're a start-up, professional firm, or small business, it can be daunting and stressful to put your faith and money in others. KYB is here to help business owners focus on growing their business. So, what does the right kind of leader have? According to Forbes, what corporate leaders need is courage.
Many people think of leaders as confident and aggressive. However, author Kristi Hedges notes that confidence can be an unreliable trait. Courage on the other hand, can be considered more as calculated risk taking in the absence of confidence. Social neuroscience has shown that people are motivated to maximize rewards and minimize threats. To understand how to maximize your employees output and minimize their emotional stress you should know the following practices.
1. Understand Human Behavior: The SCARF model
Our fears are subconscious, and as a survival mechanism, "we either approach a situation where we see a reward or avoid it if we see it as a threat."
The following are what individuals take into consideration when choosing to avoid or approach a situation:
- Status - The importance of others
- Certainty - The ability to predict the future
- Autonomy - The ability to control events
- Relatedness - The sense of safety relative to others
- Fairness - The perception of fair exchanges
2. Appreciate the Power of Vulnerability
University of Houston researcher and author, Brene Brown notes “Vulnerability is not knowing victory or defeat, it’s understanding the necessity of both.” This may seem counterintuitive as vulnerability has a somewhat negative connotative value, but the article points out that self-protection is driven by fear. So, being vulnerable is really being more open.
3. Watch out for People Pleasing
Margie Warrell, author of Stop Playing Safe, asks, "What would you do if you didn't care what anybody thought?" Listen to what others have to say, but don't let other people's opinions matter more than the actions you need to take to move forward with a project, a business or a relationship.
We are not saying that courage needs to be a showy act or huge risk; courage can be very subtle. To improve your courageous, calculated risk-taking actions, follow the 6 steps below:
- Set realistic goals.
- Know the importance of achieving these goals.
- Tip the power balance: establish relationships with people in your company.
- Weigh risks against benefits.
- Know when to take action.
- Develop a contingency lan - what if you don't reach your goal?
See what KYB employees think about working for your accounting firm in the cloud:
Chris Palley, Operations Manager - "Holy Mole, I love this team! Anyone up for a quick 18 holes?"
Brandee Michel, Client Services/Account Manager - "Girl Scout Cookies and Dr. Pepper keeps KYB fresh and fun!"