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Is your business suffering from “Gloom Fatigue”?

Hundreds of business owners and managers are being struck down by a new “illness” that is leaving them both exhausted and exasperated writes business coach, Malcolm Gallagher. I’m not certain of the correct medical term for it but I’m calling it “Gloom Fatigue” – quite simply they are fed –up of listening to politicians, economists, whoever telling them how bad the economy is going to be and how long it is going to last.

Many business people tell me they are switching off radio and television. They don’t care about the “macro” world of America or Euro zone or bankers problems. But they do truly care about their own “micro” world of their business and its growth, their people, their customers and their suppliers.

So how are business leaders going to shake of Gloom Fatigue, and get themselves and their businesses fit and growing. There’s no doubt that there’s tough times around but problems also bring opportunity and such opportunity is seized by businesses that have enterprising leaders, keen on learning, keen on action, keen on improvement. So is leadership the answer?

Yes and no. Whilst there are many traits of good leaders (the US Army reckons there are 32!), what is needed is a laser-like approach to those that will help create an “enterprising business”. I believe there are 7 such skills. Check them out and see how you score and where you may need to improve to beat gloom fatigue, beat competitors, and lead your business to growth.

1. Self-awareness

Do you seek feedback from colleagues on your leadership abilities? A great way to measure yourself is by understanding your Emotional Intelligence Quotient. Here you measure your ability to perceive process and understand your emotions and the emotions of others.

2. Time management

Excellent leaders manage their precious resource of time and know their time wasters or bandits. Do you?

Good time management involves creating and using systems, having a plan to manage work and information overload and the ability to be decisive, including knowing when to say NO.

3. Coaching and mentoring

Coaching helps people develop their skills, set goals and understand their role in your company’s success. So how good are you at it? The ability to help others improve is rare.

4. Communicating

Effective communication is vital if you are to lead and inspire. At the heart of communication is good public speaking. Public speaking terrifies many leaders yet it is essential to building credibility. Why? Well people want to do business with someone they feel they can like and trust and it is these intangibles that come through from effective public speaking.

5. Connecting

Networking, or its better element ‘connecting’, is one of the most important exercises you’ll undertake as a leader and you need to do it continuously. Leaders know how much they can learn from others and know how to identify the links that lead to opportunities.

6. Stress management

Your daily routine as a leader can quickly put you on a fast track to stress overload. Daily or ‘neutral’ stress is normal and in point of fact desirable to get the adrenalin flowing and release your energy.

It’s bad stress or distress that you need to watch out for and that often comes from being overworked or overtired. The problem is that in your busy life you can easily overlook your own stress and so you need to be vigilant.

7. Negotiation

Negotiation is a core leadership skill. It’s because good negotiators get their company what it needs to grow without giving up to much of what it already has!

Negotiation is NOT about confrontation. It’s an exercise in mutual problem-solving – a quest for the proverbial win-win outcome.

Now you know the 7 skills, where do you need to improve? Take advantage of the Leadership & Management Advisory Scheme offer and you could get up to £1000 of grant help.

Malcolm Gallagher is the keynote speaker at the NBSL sponsored Leadership & Management seminar at Newcastle United on Monday 28th November. There is no charge to attend but places are limited so contact Rachel Fraser on 01670 813322 or apply via www.nbsl.org.uk

This free event is open to business leaders of B2B businesses who employ between 2 and 249 employees.

This was posted in Bdaily's Members' News section by Phil Langton .