What better way to get credible business advice than from a seasoned entrepreneur. Co-founder of Deliveroo Will Shu has a wealth of tips to offer, especially when it comes to bringing in an innovative leadership style to your company.
Does Will’s wisdom apply to your business?
Tip #1: Go all in
Will recently shared six innovative leadership tips with Britain’s The Sunday Times, and his first piece of advice is that entrepreneurs should go big or go home. Complete dedication to one’s business idea, he says, is the key to entrepreneurial success.
How it applies to your company: Giving your business your all may sound like a demanding endeavour; as an entrepreneur you need to be the one who gives the most attention to your business, making sure that your idea gets off the ground and your operation goes beyond breaking even.
Tip #2: Follow your absolute passion
Will suggests that you need to be passionate about your business. Passion is what will keep you going, regardless of the difficulties that lie ahead.
How it applies to your company: Turning your passion into a business sounds cliched, but what about turning your business into your passion? After all, if you love what you do, there’s no stopping you from giving it your all until you achieve success.
Tip #3: Improvise on the fly
The road to entrepreneurial success is very unpredictable, and plans can easily go awry. Will recommends taking risks, stepping out of your comfort zone and learning to be quick on your feet.
How it applies to your company: Running a business can take unexpected twists and turns. The ability to improvise will help you learn from failures and capitalise on unexpected successes.
Tip #4: Ensure everyone is customer-obsessed
Your customer base has to be the centre of your world. Your employees need to be trained well enough to deliver on what customers want, and a huge chunk of your firm’s effort needs to go towards refining customer experience.
How it applies to your company: A customer-centric business has happy customers, and happy customers bring in profit. What’s more is that your satisfied clientele will likely spread word of your company, allowing you to attract more customers from word-of-mouth alone.
Tip #5: Primary research is key
Relying on data is great, but what’s better, according to Will, is that you supplement it with research from the ground. That is, you will have to hear directly from your customers, employees and business partners to learn what changes you need to implement in order to ensure smooth operations and steady revenue.
How it applies to your company: Communicating with all stakeholders is a great way to ensure that you make decisions that actually make everyone happy. You can go beyond striking a middle ground between keeping all stakeholders satisfied and keeping your business profitable.
Tip #6: Work with people who can work together
You wouldn’t want to work with people who don’t share the same vision as you. Your company is composed of individuals, but they need to be able to work together towards achieving your company’s goals.
How it applies to your company: This advice is especially useful when you’re looking for people to join your team. You need to make sure that each prospective employee goes through a diligent vetting process to find one that not only has the skills you need but also the attitude that makes them a good fit to your organisation.