Dare to dream. For dreams define your aspirations | Aspire to become – for aspirations sculpt your character | and character determines the person you are and the person you will be. #LeadershipLessons
Leadership differs from management in a very fundamental way. Management doesn’t have to involve inspiring or motivating others. Situational leadership is a specific style of leadership, where your leadership style is dependent on the situation. You could be leading b either delegating, supporting, coaching o directing depending on the team and complexity of the task. Which essentially makes you practice one or more of the 4 popular leadership styles. The image here is self-explanatory.
What You Can Do About Situational Leadership Starting in the Next 11 Minutes
Leadership programs are appropriate for supervisors, managers, entrepreneurs and company executives. A leadership development program can help the company leaders in receiving new capabilities. This is a good 10-minute video on Hershey Blanchard situational leadership that you must watch
Now that you’ve understood, it’s vital that you take one of the critical projects that you are heading and see what amongst these leadership team would require at this point in the current situation.
The Number One Question You Must Ask for Situational Leadership
Leadership is more than only a word, it’s the action of leading. It can also cause a company’s demise. Situational leadership or the one size doesn’t fit all method is all about adapting your style to the particular circumstance.
“Knowing all that I know about this team and this project, what is the leadership that is required to help the project move to the next level, project right now?
Leaders help ordinary folks achieve extraordinary outcomes. They should be sent to various countries and allowed to learn that way. Superior leaders identify great talent, give them direction, then escape the manner.
The Hidden Truth About Situational Leadership
Leaders will need to function as a catalyst for change. Thus, a situational leader should have the needed aptitude in order to adjust their actions in order that they may fit with the present situation as a way to assist and meet the requirements of the faculty. Today, the leader with one principal leadership style can’t survive.
1. Entrepreneurs Are
The New Black – $100bn In VC Investments
Despite all the uncertainties in the global
markets, entrepreneurship continues to be much sought after even in 2019. And
it is not without a reason. Globally,
the U.S Venture Capitalist Investments are on the steady rise from 2009(US$ 20+ billion) to over $100 billion by the end- 2018. Investments into India alone have tripled from
just over US$ $4b in 2015 has grown to a massive
12.65 billion in 2018, a record of sorts.
However, on further analysis, you will note that late
stage start-ups with a proven record of success took the lion’s share of
funding raised, even as the industry welcomed new ‘unicorns. What this means is that if you get to have success
at every stage of your start-up, money is not a big issue for scaling.
2. The Age Of Garage Entrepreneur Is Dead
Entrepreneurs are no longer just folks starting out
of a garage. You will find that the new
age entrepreneurs are well educated, are either freshers or those with experience
of working in the industry, have a few skill, capabilities, and competencies up
their sleeve. And they are aware of that too. You will find that they come with
a passion of Garage Entrepreneurs and have ring-fenced
that passion with a lot more practicality in combining strengths. They will
usually partner with like-minded co-founders who fill the gap their own skill
gaps required for business. This age of entrepreneurs has their feet firmly on the
ground in understanding the real problem
that they are trying to solve. Yet are dreamers with their own idols like Elon
Musk or Sachin Bansal or a Jack Ma.
3. Lifelong Employment Is A Myth Busted, Forever.
I said this in 2016, and this holds truer in 2019 than before. The age of lifelong employment is dead – and buried. With the security of lifelong employment and associated pensions gone, more people are looking to get into the driver’s seat and take control of their destiny. They may not be quitting their day-jobs to start off but are cranking their start-ups with the luxury of income from the day jobs funding their passion in part or in full. If you are contemplating, don’t spend the rest of your life contemplating, no do you need to take that leap by quitting the day job when you will face revenue pressures to even sustain yourself. You can well do both, by spending a few more hours on weekdays and dedicate weekends to get the start-up off ground. Once you are confident of taking of jettisoning the mother-ship you can.
I said this in 2016, and this holds truer in 2019 than before. The age of lifelong employment is dead – and buried. With the security of lifelong employment and associated pensions gone, more people are looking to get into the driver’s seat and take control of their destiny. They may not be quitting their day-jobs yet, but are cranking their start-ups with the comfort of regular income from the day job, that funds their passion in part or in full. If you are contemplating, don’t spend the rest of your life contemplating. Nor should you that day job, when you now that will face income pressures to sustain yourself.
A blended approach could be that you can do both, by spending a few more hours on weekdays and dedicate weekends to get the start-up off ground. Once you are confident of taking off, jettison that mother-ship and raise your sails to the headwind.
4. Unemployment And Underemployment Continue To Be Triggers For New Ideas Take Shape
Student unemployment combined with gross unemployment and underemployment seems to be the first ‘triggers,’ though not necessarily the reason for success of many entrepreneurs. The education industry is churning out graduates and postgraduates at alarming rates and the number of big corporations that can absorb such talent is far too less. Education has become expensive, with student loans mounting, yet with no assurance of campus placement, entrepreneurship seems to be the only recourse if you have that fire in the belly.
Since supply far outstrips demand, it is logical that more students are seeking out entrepreneurial experiences with self-funding from friends and family to start with – many with aspirations to build the next Facebook, Uber, or Tesla. The others go through basic education simply to better equip themselves or in anticipation of one day taking that big leap from a cushy corporate job on to an entrepreneurial journey.
5. Disruptive Innovation Seldom Happens In Large Companies.
A lot more disruption and innovation happen today
than ever before. And yet, most such disruptions have started with the new
entrepreneurs and not the big corporates.
The very fact that the big companies went on to acquire the smaller players at high valuations goes on to prove the value created by new entrepreneurs. When was the last time a Google disrupted the industry? YouTube was an acquisition. Facebook acquired WhatsApp, Instagram, and Oculus. Microsoft did that with Skype and LinkedIn.
The pace of disruptive innovation has been accelerating since 2005. The new biggies are barely teenagers, the 100-year legends are far and few. New disruptors are disrupting previous disruptors.
6. Failure Is The New Badge Of Honour
The Silicon Valley’s adage on entrepreneurial spirit, ‘Failure is a Badge of Honour,’ is no more restricted to the Valley. In the past, Asian economies like India, China and Indonesia that constitute over half of the world’s population rewarded formal employment and had a social stigma attached to failure.
This new decade had changed all that. Today, you
have the wealth created by entrepreneurs from India and China. It is more like this
generation of Asians are getting back vigorously and challenging the tenets.
Even as the likes of Jack Ma (Alibaba), Sachin
Bansal, Binny Bansal (Flipkart), Aggarwal (Ola) have either diluted their stake
to move into philanthropy or the next big
thing, there is a new generation like Rashmi Daga (Fresh Menu), Ritesh Agarwal (Oyo),
Nandan Reddy and Rahul Jasimini (Swiggy),
Deepinder Goyal (Zomato) that have filled in those spaces with fairly big
shoes. The spirit of failure does not seem to perturb them, and they are reinventing,
realigning from their mistakes along the way.
7. Freemiums Break The Jinx Of Entry Barriers
business is hard and one needs to be systematic and
efficient. Hiring external resources cost money. On the other hand,
buying software which you may not use or may find limited use at exorbitant
prices is a big deterrent to productivity. A lot has changed in the last few
years. I have compiled some of the world’s best software and tools that makes
it easier for any entrepreneur– Analytics
(Google Analytics) , Collaboration (Slack, Trello) , Communication (Skype) Design Tools
Document Storage (Dropbox/
One Drive/ Google Drive) , Email Marketing (MailChimp)
, Invoices And Billing (Zoho), Social Media
Schedulers (Buffer, Hootsuite, Tweetdeck), Spreadsheets (Google Sheets), Survey Tool (Survey Monkey) , Word Processing (Grammarly, Google Docs).
components of your business that requires software tools are available for free
to start off and then ‘pay as you grow.’ This is a great boost for entrepreneurs
and start-ups who can use world-class tools with zero spending.
8. New Marketing Models Shackle Traditional Stongholds
Acquiring new customers and ‘spreading the message’
is no more limited to expensive newspaper
advertisements and television spots. The online marketing channels are all
about creating inbound leads and low-cost outbound reach, to targeted audience
at extremely optimised and affordable costs. Imagine reaching out to your new prospects
at budgets as low as low as $10 (Marketing on Google Facebook, Twitter and Facebook
and LinkedIn) for advertising each day.
The new marketing models with digital marketing and
content creation techniques using some of the tools mentioned above, have
spawned the imagination and amplified the
marketing capability of every entrepreneur.
You can now, target, reach out and engage your
audience for the right demographics and geo-focus. This translates for you into
a theoretically unlimited market size with
hyper-local targeting. Since markets have democratised and entry barriers for distribution
busted, you have infinite opportunities as a new player that offer value to your
9. You Don’t Even Need That Permission To Start
This is the best part. The world has changed and
has changed forever in the last decade. Governments across the world are waking
up to the new reality of changing demographics and have opened ‘Start Up’ and
Incubation Centres in every part of the world to encourage and give a boost to
the new entrepreneurs. The painfully expensive permissions from the Government
and regulators are long outdated for most new set-ups.
Social structures have changed, sources of funding
have changed and most of them are an advantage for the new entrepreneur
10. There Is No Better Time To Start
The Internet has flattened the world for 2 decades now. That the advances in mobile
telecommunication, increased bandwidths and broadband penetration have led to a
convergence of idea centres a decade ago.
Together, they have unleashed a potential that is available today for you- in
all its magnificence – for you to start. If you must start, there is no better
time to start than now. A journey of a thousand miles – starts with the first
step, they say.
The question today then is not: “Can we build this?” but rather, “Should we build this?”
Please do share your thoughts and feedback and I
will be glad to learn from you.
**The author is an entrepreneur with two decades of
senior leadership experience in India and Asia-Pacific and now runs Futureshift,
a boutique consulting outfit that helps businesses chart their digital
marketing strategy with the @ZMOTly framework to achieve impactful outcomes. He
is available at email@example.com **