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The X-Factor behind every great business is a combination of great leadership and great people, and neither can exist in isolation to the other.

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Over the last few weeks we have watched an asteroid explode near the surface of Russia and a few others miss us with close orbits. Here on earth many of our companies, including mine, are watching two economic asteroids approach – the Affordable Care Act and federal budget cuts and sequestration.

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We are more effective in life when we exhibit high levels of self-awareness. Self-awareness, a critical component of emotional and spiritual intelligence (EQ and SQ) is the building block for success in life.

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Michael Jordan shares his wisdom.

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It really amazes me how some small business owners believe that having a LinkedIn profile and joining LinkedIn groups, but not participating, equates to networking.

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I’m going to keep this short, but just to give you some interesting things I learned this year about leadership.

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Words represent powerful ideas, whether we mean for them to or not. We might as well be intentional. Zig Zigler said, “be a meaningful specific, not a wandering generality”. The words we use to represent ourselves and our businesses are much more important than we usually think.

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Being a new boss can be quite the daunting storm to conquer. All this new power when you’ve grown so accustomed to endlessly paddling opposite a forever-against-you current. So what’s a body to do? What sort of boss do you see yourself as?

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Leadership is influencing and motivating others to work towards an established goal that furthers their organization and/or movement. Where there is any strong leader, there is a group of followers willing to be led. As such, it is the leader ‘s responsibility to establish goals to measure the progress of their leadership, in turn allowing those being led to evaluate themselves within the context of the group.

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Recently I was asked the question, “When did you know you were a woman entrepreneur?”

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My point is, always have your ‘skin in the game.’ Keep your expenses down. Care about your costs. Don’t rest on your laurels…

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An effective manager is one who is always looking for ways to improve both himself and his team. A bad one is one who is both incompetent and stubborn.

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In the big picture there are really only three things we need to grow a Mature Business.

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Tim Brown says the design profession is preoccupied with creating nifty, fashionable objects — even as pressing questions like clean water access show it has a bigger role to play. He calls for a shift to local, collaborative, participatory “design thinking.”

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A good business owner is not afraid to make decisions. There is nothing wrong with making a mistake if you can see it, admit it, accept responsibility for it, and learn from it.

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This week we we’ll talk about how to create the proper balance between the Tyranny of the Urgent – things we have to do today to make money; and the Priority of the Important – things we have to do to build a business that will make money for us.

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If you live in a world of abundance, you fundamentally believe you will get yours by helping others get theirs, because there is plenty to go around, and the generous will do well.

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Most New Zealanders will not know Richard MacManus and his flagship web site ReadWriteWeb.com

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