Leadership skills are the qualities individuals in influential roles possess to direct and complete tasks, support initiatives, create a sense of unity within a team, and empower others.

Here are the Top leadership skills you should possess as an entrepreneur or CEO of a company.

Communication

When you work in a leadership position, you must be able to explain everything from expectations to goals and tasks clearly. It is also important to establish open communication between yourself and your team members. Not only does creating an environment of open communication promote cohesiveness as a team, but it often encourages an atmosphere of transparency. Excellent communication considers not only what is being communicated, but how it is being communicated.

Negotiation

Negotiation involves two or more parties engaging in a conversation to find a solution that is acceptable to all parties. As a result, you and the person you are negotiating with may reach a formal agreement, such as a contract or a less formal verbal agreement. When used as a leadership skill, negotiation can foster a sense of fairness and equality, allowing all parties to be heard. Employees and coworkers may be more likely to feel understood when conflicts are handled with negotiation.

Effective negotiation involves understanding the interests of all involved parties and working to reach a solution that satisfies each one.

Conflict resolution

Compelling leaders understand how to avoid disputes and have the ability to resolve them quickly. Ideally, as a good leader, you should be able to maintain your composure and make thoughtful decisions when handling disagreements. A great example of conflict resolution is a human resources (HR) representative actively listening while working to help a manager and their subordinate settle conflict.

Adaptability

As an adaptable leader, you adjust your behavior in response to situational changes. You are resilient when things don’t go as expected and recover quickly from setbacks by viewing them as an opportunity to grow. Showing adaptability in leadership involves being flexible and adjusting to changing conditions and environments.

Critical thinking

Analyzing information to fully comprehend an issue or topic is the act of critical thinking. The steps of the critical thinking process often entail gathering facts and data, posing deliberate queries, and examining potential answers. For instance, if you work in HR and must settle a dispute between two coworkers, using critical thinking skills can be helpful in determining the nature of the conflict and the appropriate course of action. Critical thinking is an important component of decision-making.

Decision-making

Effective leaders make decisions that benefit themselves, their team members, clients, stakeholders, and organizations. Using critical thinking skills in decision-making allows you as a leader to identify problems and develop solutions advantageous to your business and your employees. Decision-making by leaders must always be fair and objective and involve the use of appropriate language when communicating.

Problem-solving

Effective problem solvers in leadership have the ability to foresee issues in the workplace, define the problem, identify their causes, develop a plan to remedy the problem and learn from the problem to avoid future issues. Problem-solving requires strong communication skills and respect for all parties involved. Viewing and presenting issues as opportunities can benefit leaders and staff alike. An example of this would be a decline in social media engagement viewed as an opportunity to increase social media presence rather than a problem.

Relationship building

The general nature of leadership roles revolves around people. Without understanding the people they are guiding, leaders cannot effectively lead. The ability to forge bonds and establish communities is necessary for an effective leader. A study conducted on relationships in the workplace by Olivet University shows that employees tend to be happier in their workplace when they have a degree of nonwork relationship with their superiors

Time management

Time management involves planning and regulating how much time to devote to different tasks. Leaders who manage time effectively may accomplish more in less time, feel less stressed, and succeed in their careers [2]. Proper time management by leadership members affords leaders more time to invest in their team.

Creativity

A creative mindset is open, not closed or rigid, and produces ideas and solutions that are both significant and effective. By encouraging a team of people to solve problems creatively, leaders provide the opportunity to develop goods and services that set the team apart from rivals, creating a competitive advantage. Creative leaders also foster an innovative culture by encouraging teams to showcase ingenuity as a unit.

Strategic approach

Leaders must think strategically and critically when making difficult decisions. Effective leadership involves making well-considered and critically-analyzed decisions to lead teams to success. Leaders who are successful will think before they act, or in other words, have a strategic plan before taking action. The time it takes to devise a strategy depends on the problem or decision. A good leader devotes the necessary time to strategy development.