Leadership is comprised of a combination of skills business leaders leverage to lead entire companies.
Whether you’re the VP of Marketing or informally viewed as a leader within your team, it’s vital as a leader that you know how to help others achieve a common goal.
Here, we asked Black business leaders across a variety of industries what they’ve learned about leading a Black-owned business. Keep reading to learn what they had to say.
1. Know Your Numbers
“Know your numbers,” says Kimberly Bryant (@6Gems), Founder & CEO of Black Girls Code, whose mission centers around a very big number: Empowering 1 million young women of color, ages 7-17, “to become innovators in STEM fields”, by 2040.
Knowing your numbers is key to measuring the growth of your business and securing investments.
Bryant recommends “[understand] your reach, customer conversion metrics, revenues, and expenses front to back.”
Hiring a professional is also highly recommended, but doesn’t negate a business leader’s responsibility to “understand the intricacies of your business finances. This will help you lead and drive your organization forward through storms and triumphs.”
2. Strengthen Emotional Intelligence
During the growing pains of any business, it becomes increasingly important for leaders to manage their emotions.
“Emotional intelligence will make or break your leadership journey with your team and clients,” says Sherrell Dorsey (@sherrell_dorsey), founder of TP Insights, a newsletter on Black founders and innovations that has grown into investigating and reporting on Black tech trends, stories, and breaking news.
Black business owners are subject to harsh and even humiliating experiences fueled by racism and sexism on top of the everyday challenges of building a business.
When the work gets frustrating and tempers run hot, Dorsey cautions, “It’s a life-long journey to learn the art of mastering ourselves to navigate challenging times and lead when we feel the weight of the world, but exercising that EQ muscle will shape our forward trajectories when we invest in it frequently and ruthlessly.”
The Harvard Business review backs this up, with emotional intelligence accounting for “nearly 90 percent of what sets high performers apart from peers with similar technical skills and knowledge.”
3. Practice Self-Care
One way to build emotional intelligence is through self-care — as the common saying goes, “Always put on your own oxygen mask first.”
As a long-time serial entrepreneur and industry leader, Wayne Sutton (@WayneSutton), founder of The Icon Project — a company that addresses mental health and professional development needs for Black & Brown men in the tech industry — says, “You need to practice self-care to be emotionally prepared to lead others,” says Sutton.
It’s hard to show up for others when you’re struggling to show up for yourself. All too often, this can lead to stress, exhaustion and burnout. Take the time for yourself in order to excel as a leader.
4. Be Relentless … With Your Calendar
André Blackman (@mindofandre), is the Founder & CEO of Onboard Health, a specialized executive search and talent advisory firm dedicated to building an equitable future of health. Backman encourages being “relentless with your calendar around creating buffer/space for thinking.”
Time is a precious resource we can never keep or replenish. Which is why it’s important to know where your time is going and to make time for yourself. To make sound decisions, leaders need space for reflection and deep thinking. That’s hard to do on a full schedule.
“While tackling fires, writing emails, and providing customer or client results are sometimes necessary, having time for yourself to process and look ahead is essential,” urges Blackman.
5. Ask Big, Bold & Expansive Questions
Tony Robbins once said, “The quality of your questions determine the quality of your life and business.” This quote rings true for Felecia Hatcher (@FeleciaHatcher), co-founder of the Center for Black Innovation, a research think tank building equitable pathways to rid Black communities of innovation deserts.
Hatcher is no stranger to both asking and receiving big, bold questions. This is why she encourages Black business leaders to get into the habit of doing the same with their team — and themselves.
“We must ask big, bold and expansive questions to ourselves and the people around us.” From these questions can emerge “insights [that] will help inform your best next moves.”
You may be the leader, but you don’t have all the answers. By asking “big, bold, and expansive questions”, you can find the possibilities with your team.
Leadership starts with taking care of yourself, your team, and the business as a whole. The lessons in leadership these Black-owned business leaders have shared is just the tip of the iceberg and a great starting point for others to apply right now. Practicing these tips now can improve your leadership for the long run.
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