Coaching From The Carpool - Luck or Leadership, Which One Drives Your Business?
Summary: You've come up with a brilliant new idea for your business and are ready to make it a reality. You hope that luck will be on your side, imagining that elusive "pot of gold" by relying on favorable market trends and timing. But deep down, you know that relying on luck alone won’t guarantee lasting success. Without strong leadership, your business could be vulnerable to unpredictable market changes.
Luck can play a role, but true success rests on your ability to lead with vision and purpose. I'll show you why leadership matters more than luck and how cultivating the right leadership habits will guide you toward your biggest goals and ensure your business thrives for the long haul.
Why Leadership Matters More Than Luck
As an entrepreneur, you're not just running a business—you're a trailblazer. You pave the path, write your own future, and show others what's possible.
I heard Former Chief Renee Hall, Dallas's first female and African American police chief, speak at a previous NAWBO (National Association of Women Business Owners) event. Her speech immediately showed that she embodies this spirit of leadership. She leads with vision and courage, navigating a challenging role with grace. She explained how she had to be exceptionally prepared, smart, and strong—often twice as much as others—to break through barriers and challenge the norms.
Like Former Chief Hall, you will confront obstacles that require determination and resilience as the leader of your business. Leading with a clear vision means maintaining focus, no matter how tough the decisions are or how much pushback you face.
Have you ever had to make a decision that others didn't like or agree with? How did you handle it? As an entrepreneur, these moments define your journey. Perhaps you decided to pivot your business strategy away from what was traditionally done to pursue an innovative new approach. Or, maybe you chose to discontinue a popular product because it wasn't profitable, facing immediate customer backlash but ultimately stabilizing your business finances.
Making decisions that aren’t universally popular is part of being a leader. Steve Jobs, for instance, famously simplified Apple’s product line when he returned to the company in the late 1990s, cutting down on dozens of products to focus on a few key offerings. This decision was initially met with resistance inside and outside the company, but it ultimately led to a more focused business strategy and spurred Apple's resurgence as a tech powerhouse.
These decisions require courage because they often go against the grain and challenge the comfort zones of your team or customer base. The ability to forge ahead, grounded in your vision and strategy, not only tests your resolve but also sets a precedent that your success is guided by your leadership and not others’ opinions.
Making decisions like these is what separates true leaders from managers: the courage to make difficult decisions and the resilience to withstand doubt.
Leading Through the Wild West of Business Ownership
I like to say that owning a business is like jumping into the Wild West because it's unpredictable. Market trends shift quickly, customer preferences change, and new competitors pop up overnight. You must have a clear path ahead as you stay flexible and innovative to overcome unexpected obstacles. This is what keeps you at the top of your industry.
In Good to Great and Great by Choice, Jim Collins emphasizes that visionary leaders prioritize innovation. They know old ways can't keep them competitive. They promote experimentation and empower their teams to think creatively. Finding new ways to deliver value allows you to spot opportunities others might miss and helps you tame the Wild West.
As a leader in your business, encourage your team to experiment and keep your business flexible. When you foster creativity and strategic thinking, you can face any challenge confidently and clearly. You'll turn uncertainty into opportunity, building a resilient business that thrives even in difficult times.
3 Essential Habits for Effective Leadership
Habit 1: Set a Clear Vision
Clearly defining your vision is crucial for effective leadership as a business owner. Without that guiding light, it's easy for others to steer your ship off course with their agenda.
That's the last thing you want. This is your dream. So, take full ownership and responsibility for establishing the vision yourself!
Get crystal clear on your overarching goals and the core values that will guide all decisions.
With a strong vision that you communicate consistently, you'll keep your entire team laser-focused and pulling in the same direction.
Make sharing and discussing this vision a regular habit. That way, your team will fully understand and buy into the inspiring future you're all working towards together.
Habit 2: Manage Your Emotions
Emotional intelligence is a superpower for leaders. When you can regulate your emotional reactions and stay composed under pressure, it builds tremendous trust and respect with your team.
They'll know they can rely on you to make level-headed decisions, not rash ones based on passing feelings.
It is also important to be able to bounce back quickly from setbacks.
Things won't always go perfectly, but resilient leaders model the grit to overcome obstacles. Your employees will be inspired to persevere as well.
Work on developing those emotional management skills.
- Try techniques like mindfulness meditation or breathing exercises to stay centered when things get stressful.
- Regularly reflect on how you responded emotionally to different situations. Were you pleased with your reaction, or did your emotions get the better of you?
- You should also actively seek feedback from colleagues or mentors you respect. They can illuminate areas for improvement in your emotional awareness and control.
With dedication, you'll gain greater mastery over your emotions rather than letting them call the shots. And that poise will significantly elevate your leadership capabilities.
Habit 3: Embrace Constant Growth
Committing to continuous learning and growth is not negotiable as a business leader. The most successful entrepreneurs have an insatiable growth mindset and continually expand their skills and knowledge. They understand that standing still leads to stagnation.
Make professional development an integral priority, not an afterthought.
- Create a customized learning plan to provide structured goals for your growth journey.
- Enroll in relevant courses, attend thought-provoking workshops, and soak up insights at industry events.
- Read on topics related to leadership, your industry, trends analysis, you name it.
But don't just learn in isolation.
Actively discuss what you're studying with your team and trusted advisors. Get their perspectives, identify blind spots, and uncover new opportunities you may have missed flying solo. These collaborative knowledge shares will unlock innovative ideas and prevent you from getting stuck in your self-imposed limits.
Cultivating a true learning and growth mindset keeps you humble and curious and perpetually elevates your leadership abilities.
The Superpower You Can't Overlook: Leveling Up Your Leadership
Let's be honest—business success doesn't happen by luck or chance. You know how hard you have worked to get where you are. (We see it, too!)
When you actively work on developing those leadership muscles, you completely redefine your capacity to overcome doubts and obstacles that tend to knock people off course.
You build that resilient mindset and unshakable confidence to persist through any challenge, take calculated risks, and keep charging after your vision.
But it's not just about grit. Leadership skills enable you to lift your eyes above the daily grind and look toward the future you want to create. Instead of just putting out fires, you're playing a bigger, long-term game. Spotting new opportunities before they pass you by becomes second nature.
Your ability to adapt proactively and avoid getting stalled or stagnant is tied to conscious leadership development. It determines whether your business will just survive or capitalize on its full potential for epic growth.
What if I try to be a good leader and fail?
I hear you. We all try to be good leaders. I will be the first to admit that I'm not always a great leader. I'm not always even a good leader. Some days, I tell you, I'm like, “Meh.”
But I do try to learn from it and improve myself. When I see a spot where I should improve, I work hard to become a better leader.
Being a good business leader does not mean being perfect. It means continually striving to improve and learn to do better.
Unlock Your Leadership Potential
So stop overlooking working on this often-neglected superpower of great leadership. It will pay off in massive dividends! You do not have to be perfect at it. Just learn and get better every day.
If you read this and think, “That’s it! That’s what I need to do!” I challenge you to follow the steps above to improve your leadership skills. Know that you don't have to figure it all out by yourself. Our team specializes in helping entrepreneurs like you develop the essential mindsets and habits to become impactful leaders. We're here to guide you if you're ready to elevate your abilities and unlock your full potential. Take that first step today and reach out. We'll help you identify key areas to focus your development, provide personalized guidance, and create an actionable roadmap for your leadership transformation.
