Opening up a new business is a carefully planned and calculated decision. It is hard in the beginning to control everything. Operating a business involves doing several things at a time. For new women entrepreneurs, they have to cope with the financial, operational, marketing, distribution and other aspects of the business.
Entering into new fields or doing what you have dreamt forever is a brave decision. You might not be able to control or keep an eye on every activity going on in your business no matter how huge or small your venture. An assistant or a team of 2-3 employees is required to help you organize and manage your business.
When you hire people, they contribute to your firm with their skills and experience that can boost your new venture. You as the owner will want to keep a hold of your business and have a say in the day-to-day decisions. Adopting the right leadership style can help maintain good relationship between employees and yourself. There are many management leadership styles, three of which are often adopted by owners and managers.
• Autocratic Leadership Style
This style involves keeping strong hold of your employees and maintaining strict following of policies and procedures. A one-way communication exists i.e. from top to bottom.
• Democratic Leadership Style
This style promotes a 2-way communication so owners can get ideas from their employees and include them in the decision making process. The final decision rests with the owner.
• Laissez-faire Leadership Style
This style of leadership gives the power to workers to make the final decisions of the company.
A sound internal culture of an organization helps achieve great success. Sara Blakely, the founder of SPANX started out with $5000, a great idea and a great work ethics to reach on Forbes successful women entrepreneurs list. It is all about the characteristics you develop as an entrepreneur.