The leader knows what he doesn’t know. The leader is not afraid to ask clarifications, if he does not understand a particular subject.

The leader knows meaning of two minutes. He should respect time of others and that of his own.

The leader teaches. Above all, leader develops others. As Lao Tzu advanced: “the leader having accomplished great things, people all feel they did it themselves…”

The very best leaders go beyond mere setting of example. He should be able to cause a leap of imagination and faith in his people.

The leader recognizes that people are often at their very best moment they have been let go. There are times when an employee doesn’t like work anymore, or he is unable to appreciate how whole enterprise works- this is time to set him free.

A Company Must Be Profitable

1. A solid financial base is fundamental. 2. Debt should not exceed equity. A debt to equity ratio of 1 to 1 or better should be goal, so that a company’s leader and key executives do not spend all their time on mere survival -paying bills, meeting payroll, and keeping banks happy- but moving forward and meeting bigger challenges and doing more visionary work. 3. There should be a regular process for annual strategic planning and budget-planning.

The Fundamentals of Profit and Loss

1. Manage expectations, not profits. Keep shareholders informed, to eliminate doubts of manipulating numbers. 2. The Chairman and CEO should be financially literate. They should know what numbers really mean. 3. Good growth and profitability requires exercise of critical judgment. The leader should make certain that budget is one company can live with. 4. In repurchasing company’s own stocks, make sure that it will add to company’s earnings. 5. Look into availability of funds so that balance sheet will not be compromised.

Make an Edge in Business World

1. Writing. It is a unique and powerful skill you can use for clarity and persuasion. 2. Public Speaking and Story-telling. Speak directly, and without notes, to your audience. Individuals respond to a well-told story. 3. Thinking. People do not respect sloppy thinking in a leader. Thoughts should be carefully considered then expressed directly, crisply, and clearly.

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Once you have an awareness of your own internal resistance you can start to counteract it. You may like to try experimenting with following self empowering questions:

-how can I start this business using none of my own capital? -what partners do I need to attract to make this business a success? -how can I communicate my vision to attract a skilled workforce? -who successfully runs a similar business? -what would I have to do to imitate their success?

Leap of faith

Establishing any kind of venture requires a ‘leap of faith’ as there are no certain outcomes in business. When you are starting out spend most of your time focusing on ‘why’ you want to run your own business rather than ‘how’. The how will follow naturally once you understand why.

There is never a ‘perfect time’.

If you are waiting for perfect moment to launch your business you’ll be waiting a very long time. The only perfect time to start a business is right now. If you’ve got a great idea that you are passionate about, don’t delay! Immerse yourself into it right now! You don’t need any money to start planning and visualising your dream. If you can feel, touch and taste it, all you have to do is get out there and start sharing your vision with as many people as you possibly can. And if you do it effectively and with passion you will attract right business partners and customers.

To quote Goethe, “whatever you can do or dream you can do, begin it. Boldness has genius, power and magic in it. Begin it now!”

Damien Senn is a Life and Business Coach as well as a fully qualified Chartered Accountant. He helps professionals, artists and entrepreneurs create compelling futures.

For your free life coaching tool ‘101 things to do before you die’, please click the following link: