I have been working with the founding generation, active generation, next generation, and professional managers of companies at strategic decision points for over 20 years. To be aligned with the mission of my writing, I'd like first to define some concepts and explain their interrelations.
Who is a Boss?
Firstly, who is a boss? A boss is generally the person or people with the highest decision-making authority in a business or organization. It can refer to roles such as employer, business owner, manager, or leader. They are responsible for the management of the company. As you can imagine, a business can be a small-scale, single-handed tradesman, a social media account selling, or a holding company to which dozens of companies are affiliated. We can call anyone who establishes, buys or takes over a business a boss. It passes from generation to generation.
What is Being a Boss?
Being a boss can be associated with the leadership and management style of the person we define as a boss. It expresses behaviors. It does not pass from generation to generation; it develops in the individual. According to leadership and management styles in business life, there are different types of bosses, such as autocratic, democratic, laissez-faire, transformational, transactional, coaching, charismatic, and visionary. I will explain as best as I can in another article.
What is Being a Successful Boss?
Being a successful boss can be described as finding fellow travelers who share the boss's vision and walking the path with them toward the set goals. It does not pass from generation to generation; it develops in the individual.
Who is a Successful Boss?
A successful boss can be defined as someone who dares to take risks, can stand up on their own after falling, possesses strong problem-solving skills in their field, is visionary, hardworking, passionate, inspiring -and has prioritized reaching their goals-. These are personality traits; some can be developed. It does not pass from generation to generation; it develops in the individual.
These appealing personality traits are the commonalities I observe in successful and influential individuals in the business world, which create value. The importance of these personality traits that successful bosses possess is significant for the success of their companies.
However, a successful boss may have only some of the necessary resources and personal qualities to manage growth.
Now, I want to talk about the issues that successful bosses need to consider and address to take their businesses further. If you are a successful boss, you can evaluate yourself on the following topics and prepare a plan for areas you need to improve.
Are we sure about our goals? Do we have a story that will gather supporters?
Based on my conversations with bosses for over 20 years, they face difficulties in goal-setting. Overcoming these challenges is crucial for them. In our conversations, we delved deep into personal or company goals. There's a reality I observed: while some bosses are pretty sure of their goals, others are still determining the clarity of their goals. Even bosses who seem to have clear goals sometimes fail to provide clear answers to my specific questions, admitting they do not have clear goals. This is the most vital issue for a boss to use company resources effectively—such as capital, human, and intellectual accumulation—while pursuing their goals.
Another point that caught my attention in my conversations is that some companies have not validated it or have set superficial goals that do not require high performance from management (despite moving towards a goal), thinking, "Things are going well anyway." Resources are managed much more correctly in companies where goals are clearly set along with their rationales. In such companies, bosses feel more secure about their futures and what they need to do. Therefore, mission and vision work is of critical importance. It's necessary to determine a company's reason for existence (mission) and where it wants to go based on this foundation (vision) and then plan how to use resources to reach this vision. I have witnessed that even successful bosses sometimes need to focus more on this issue.
If a story that is down to earth and will gather supporters is to be written, this is the place to start.
Decision-making systems that are not associated with goals, cause-effect relationships, and operational management remain limited to the leader's skills, preventing the creation of a scalable and future-proof system. Therefore, the importance of up-to-date strategies to achieve goals is significant. Risk management should also be based on the defined goals and strategies. Without a goal or strategy, it is impossible to determine which risks are a priority. When the boss is sure about the path to be followed, they can take more significant risks, but in the face of uncertainties, they hesitate to take substantial steps.
In other words, bosses who navigate this turn with due diligence can rest more comfortably…
As a boss, ask yourself:
Is our mission clear and known by everyone in my business? Do we have a future story and goals; do these goals have rationales known by everyone? Are our decision-making and risk-identification systems operating in conjunction with our strategic objectives? You can plan how to improve in areas where you answered no.
Were we ready to build a team? Did we determine who should be in our story?
Setting a strategy and deciding where to go, in other words, writing the story, is one of the fundamental steps a boss must take while managing their business. This process determines the right direction for the company's future and is critical in identifying the human resources the business needs.
"Not knowing what you are looking for means you won't understand what you find" is a highly relevant saying in this context. Before strategic goals are set, bosses often hire people to meet the operational needs of the day. This might solve short-term needs but can fail to reach the business's long-term strategic goals. When strategy and objectives are clarified, it becomes easier to identify and hire professionals with the competencies and experiences needed for the company.
Choosing the right people and forming a team are two of the boss's most important tasks. This process involves finding individuals compatible with the business's culture, values, and strategic goals. For example, if a technology company's long-term goal is to become a market leader by developing innovative products, it must hire professionals experienced in research and development, marketing strategies, and customer relationship management. This requires finding people who can manage current operations and those with the talent and vision to lead the company to its future objectives.
When strategy and goals are clarified, finding and hiring the right people for the business becomes more effective and efficient. This process is one of the fundamental building blocks that support the business's long-term success.
As a boss, ask yourself:
When forming my management team, did I select their competencies to manage daily operations and include experiences that will lead my company to its strategic goal? If you answer no, you can make a game plan to improve in this area.
Are we following the change? How does what's happening outside affect our story?
If changes outside the business occur faster than inside it, the company's future is at risk (Jack Welch). Hasn't this become more apparent today, where technology and industry trends change rapidly? For company founders and managers, keeping up with the pace of change and adapting to it can be challenging. However, they must do this, as it is vital for the business's long-term success.
Bosses must continuously monitor the outside world to keep up with changes and integrate the information obtained from these observations into company strategies. This process should be done at short intervals, and a mechanism should be established within or outside the company to address these issues. This mechanism should examine topics such as technological advancements, industry trends, changes in customer behaviors, and uncertainties in market dynamics and present its findings.
Effectively monitoring and responding to changes should be part of the company's risk management strategy. This can turn potential threats into opportunities and strengthen the company's position in the market.
As a boss, ask yourself:
In my business, do we follow trends in our industry, technological developments, customer behaviors, and changes in market dynamics and react to these changes in our strategies? If you answer no, you can make a game plan to improve in this area.
Are we accountable? Does our performance meet expectations?
Success is often seen as reaching goals set in the past. However, if the company had not set clear and realistic goals in the past, businesses might tend to progress in a "we are already doing well" mode. This situation makes it difficult for leaders and their teams to assess the quality and requirements of their work objectively.
A proper understanding of success requires creating goals set in the past and committed to, which, when achieved, really bring happiness and satisfaction. Another critical point is the establishment of an accountability mechanism. With a transparent accountability system for work performance and goal achievement, leaders and teams can objectively assess where they stand and whether they have achieved their goals.
The accountability mechanism should have an independent structure that allows a boss to evaluate their performance and the company's overall success. This structure should enable the leader to assess their decisions and strategies objectively and question whether company resources are being used effectively towards set goals.
Companies need to establish an accountability mechanism where leaders and teams can set realistic and achievable goals and continually assess their performance towards these goals. For leaders, this is an essential step towards overcoming obstacles like ego and the sense of achievement to create a proper understanding of success and a sustainable business.
As a boss, ask yourself:
In my business, do we feel accountable to a higher authority regarding realizing our time-bound goals and value evaluating our success? If you answer no, you can make a game plan to improve in this area.
Are we listening to diverse opinions? Are we aware of the positive contributions of diversification?
Insights into the importance of diversity in management boards (the decision mechanisms of companies) are critical issues frequently encountered in the business world and need attention. Diversity enriches decision-making processes by bringing together different perspectives, experiences, and ideas, paving the way for innovative solutions. Limiting the mechanisms through which decisions are made to a particular age group, gender, or thought process carries the risk of evaluating events from a narrow perspective.
Efforts to increase diversity encourage the inclusion of youth and other underrepresented groups in company decision mechanisms. This leverages perspectives from different generations and communities and allows these individuals to form a deeper connection and sense of belonging to the business. Representing different generations, genders, and thought processes minimizes the risks that decision mechanisms might face while helping the company better connect with its market and customer base.
Efforts to increase diversity in management boards are an ethical requirement and a strategic advantage for businesses.
Leveraging different perspectives helps businesses better adapt to changing world conditions, generate innovative solutions, and achieve long-term success. Therefore, management boards should play a crucial role in embracing diversity to shape the present and future of businesses.
As a boss, ask yourself:
In my business, do we listen to, try to understand, and sometimes make decisions based on diverse opinions in our decision mechanisms? If you answer no, you can make a game plan to improve in this area.