Are you a business owner or a business leader?

Being a successful business owner doesn’t automatically make you a business leader. Ownership and leadership are two different roles, each with distinct responsibilities. Owning a company is the starting point, but leadership is where the real growth happens.

The first step to becoming a business leader is learning to work on your business rather than in it. This means moving beyond the day-to-day operations and allowing yourself to think bigger and more strategically. Leadership isn't about being in the trenches—it’s about having a vision and making it a reality.

True business leaders inspire those around them. They create a culture where people want to work and perform at their best. Leaders align their teams, motivate their employees, and create a sense of forward movement.

So, how can you tell if you're a business owner or a business leader? Here are four key differences:

1. Business Leaders Think Strategically: Owners often get stuck in daily operations, reacting to problems. Leaders, on the other hand, think ahead. They plan for the future, focusing on the wellbeing of the organization and the team.

2. Business Leaders Inspire: Owners may have a vision but often lack the ability to inspire their team. Leaders understand that their people are key to success. They foster alignment, promote learning, and encourage innovation across the entire company.

3. Business Leaders Adapt: Owners may stick to one way of running things. Leaders, however, know when to pivot. Their ability to adapt was crucial during the pandemic and continues to serve them in changing environments.

4. Business Leaders Build Relationships: While owners often have transactional relationships, leaders build genuine connections. They foster positive interactions with employees, customers, and partners alike.

If you’re a business owner looking to evolve into a business leader, consider joining a TAB Board. It’s a peer advisory group where you can learn how to think strategically, lead effectively, and take your business to the next level.

Coach Colin at The Alternative Board 

Coach | Facilitator | Change Agent