Building and running a business is challenging. The entrepreneur’s journey is not for the faint of heart. You’ve typically set out to solve a problem or pain point, disrupt an industry or cater to an underserved audience, and as a result you are moving into uncharted waters. The past few years have spurred the amount of uncertainty that a business has had to face. While many of the shifts we’ve experienced, whether economic, societal, or technology related, have created new, unique opportunities, the velocity of these shifts has certainly challenged leaders.
I’ve spent the first half of my career as a homebuilder and have spent the past two decades building a bank. Through both legs of my career, I’ve learned that when building a business, you are often moving into an uncharted space, both personally and professionally, and there is no one playbook to follow. I’ve learned to rely on a few key principles as a leader that I believe to be pivotal for businesses to thrive in any environment.
1. Build a Foundation of Trust
Creating a transparent environment where openness and honesty is the norm, can establish trust among both employees and clients/customers alike. Be clear about the goals you have as a business, as well as the challenges you face. Trust isn’t just built with words but through consistent actions. For instance, according to Slack’s Future of Work Study, 80% of workers want to know more about how decisions are made in their organization. By sharing information on the decision-making processes, employees feel empowered to contribute more effectively. In times of economic pressure and uncertainty, this trust becomes even more vital. Leaders must anticipate potential challenges, prepare for them, and act based on rational and ethical principles to maintain credibility with stakeholders.
2. Follow the “Glass Office” Approach
The concept of the “glass office” encapsulates essential aspects of leadership—transparency, accessibility, and proactive resilience. These principles have guided my journey as a leader and continue to shape the way I approach challenges and opportunities. A survey conducted by Deloitte Private found that access to leadership attracts talent to their organization. So, whether it’s through town halls, leadership meetings, or informal gatherings, making yourself accessible ensures that everyone feels connected to the decision-makers and understands the passion and purpose behind their actions.
3. Step into the Fire
Leadership requires taking a proactive stance, especially in a constantly changing world. Anticipating challenges and preparing for them is essential. As a leader it is your responsibility to identify where others are focused and consider alternative scenarios—even if that means stepping into the fire. This approach allows for readiness in any eventuality. Proactive resilience isn’t about having all the answers but about having a track record of resilience and the ability to act decisively with the information at hand. This stance instills confidence within the organization, encouraging the team to focus on the right things at the right times.
4. Draw Inspiration from Other Industries
Effective leadership also involves looking beyond your business’s industry for inspiration. At ConnectOne Bank, we frequently draw lessons from innovative companies and believe in relationship banking at our core. Our team visited the Apple store in downtown Manhattan to observe their customer engagement strategies and seamless integration of technology and service. These practices inspire us as leaders to adapt and continually refine our approach to customer service and operational efficiency.
5. Always Keep Your Client at the Center of Your Decision Making
In changing times, it’s easy to get distracted by a trend cycle, and while it’s important to have a pulse on what is going on in the market, it’s also critical to stay hyperfocused on your client–after all that’s why your business was started. Whether it’s an economic change, new technology or new law or regulation, it’s crucial to evaluate how this will impact your client and make decisions accordingly. Giving the appropriate attention to your clients, while learning the small details of their industry will allow you to provide a personalized service that stands out and gives you an edge over the competition.
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Ultimately, there is no silver bullet for leadership, and changing times only heightens the need for strong and consistent leadership. I hope these lessons help you navigate your path with more clarity, and pave the way to sustained growth and success no matter the environment you are in.
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