The Importance of Self-Reflection for Entrepreneurial Success

For all people, from students to business leaders, introspection remains a critical element of success. Entrepreneurs create the best companies when they consistently look at how their employees are developing and how their leadership strategies have effected organizational growth.

via iwdrm

Before looking at organizational growth, however, executives must evaluate personal growth. Leaders must value learning, which demands a deep analysis of what has and hasn’t worked in the past. During this examination, executives should look not just at what has gone well, but also at what has produced poor results. Mistakes are fine, provided that people learn from them and change their actions accordingly.

Executives should ask themselves whether they are managers or leaders. To be effective, they need to demonstrate attributes of both roles, which are related but not equivalent. Leaders choose the path, and managers keep people on that path. Company executives should ensure that they are looking out for the future of the organization while taking care of their employees. In other words, leaders need both long-term and short-term vision. Introspection is key to developing and implementing this vision.

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