The three leadership P’s that will help you set up a UK company

When you set up a UK company, you’ll want it to be successful. But the odds are against you. Five out ten of new businesses fail within their first couple of years. If you want to avoid that you need three things: a good product, great marketing and strong leadership.

Research has shown that poor leadership is one of the defining factors behind business failure. So here are three leadership traits you’ll need when you open a UK office for your new business to thrive (and survive!).

Passion

Whether you’re talking to customers, employees or suppliers, you’ll need passion to build your new business. Those who are passionate are more likely to convince others of the message they are passing on.

This can be vital in recruiting for your new startup, as you want new hires to believe in your product and sell it. Passion will also help you sell to new customers.

Persistence

Not everything you want to achieve will happen at the first ask. In fact, it may take time to collect sales and build contacts for your new UK company. If you give up early you’ll never succeed and that’s why you’ve got to keep going.

Persistence can be challenging when you’ve suffered a few set backs. If you are finding it hard to keep motivated, try making goals smaller. When you achieve smaller goals you’ll feel good about the work and this can boost your morale.

Patience

When you set up a new UK business you’ll have to be patient. You can’t expect the business to be successful straight away. Most businesses take time to start making a profit, especially if you’ve taken out substantial loans to finance your new venture.

Therefore, expect to take at least one or two years before you can start making your new UK business a success. That doesn’t mean that your small business can’t provide you with an income, but it will take time for your efforts to be rewarded with a significant return.

Time for your leadership to show

When you set up a UK business you’ll need strong leadership traits to make it a success. The more of the three traits you show above, the more successful you’ll be, and the faster that success will come.

If you want help to set up a UK business, then contact us at Goodwille. Businesses from across Europe, the US and the rest of the world have entrusted our expertise and experience in the UK market to start their UK operations. Now it is your turn.

How to be a good leader

Startups might be fledgling, flexible and all over the place, but if they are to succeed they need one thing more than anything: leadership. If you want to set up a UK company, you will need to inspire your people and drive them forward in pursuit of a common goal. Here are three ways you can do that.

Listen to people

While managers might dictate, leaders do something different: they listen to people and they learn. Leadership, fundamentally, is about listening. Think about it. What do employees look for in senior management? People who are bloody-minded and driven only by their own aims? Or people who believe in a more democratic approach, listening to what their employees feel rather than ruthlessly pursuing goals? We bet you it’s the latter. Great leaders are a blank slate – they keep their eyes and ears on the ground and keep in pulse with their people, making changes as necessary.

Do what you say you will do

We have all read blogs that adopt leading by example as a crucial leadership trait. However, if you say you are going to do something, then do it. Make sure you do it by the time you said you would and exactly in the way you said you would execute it. Whatever it may be, and even if it is not a popular thing, your employees will respect you for it. Importantly, leading by example is about a whole lot more than being a great leader. It is a fantastic way to galvanise your staff and effect change in your start-up. If your people see you leading by example, they’ll do it too.

Always acknowledge mistakes

We have all seen awkward interviews with chief executive officers trying to limit damage to a company fall-out, anxious as they are to ensure the latest blip does not become an international public relations disaster. Time and time again, these apparent leaders only serve to engage in blaming, evasive language and the dreaded corporate-speak. Genuine leaders do not seek to assign blame where blame isn’t due, duck from questions or fail to give answers. If they, or their company has made a mistake, they admit it. So be honest and move on.

Goodwille help start-ups in the UK by supporting with everything practical you need to run a business. Don’t waste time on things that aren’t your core business, let Goodwille take care of it and focus on being a good leader and getting your business to where you want it! Get in touch with us today for more information on how Goodwille can support your UK startup.

Are you a good boss?

When you take the big decision to set up a UK company, you will be managing a diverse range of workers from many different backgrounds. So, what makes a good boss?

Lead by example

Employees have far greater respect for a boss who walks the walk rather than merely just talks the talk. After all, where’s your credibility if your staff feel unable to ask you for guidance and help in times of crisis. Always seek to lead by example.

Honesty and integrity

No one likes working for a boss who misleads clients and tries to rip them off. Always demonstrate honesty and integrity in all your dealings with customers and staff. This will gain the trust and respect of your workers who will treat you and your company in the same way.

Listen and ask

Two-way communication is vital for a good staff/management relationship. Ask your employees what they think about new projects, software systems or product design.

Inclusion in management decisions and research enhances an individual’s sense of value to the company and you may well receive some extremely useful and constructive feedback. Make sure that you keep everyone in the loop about new developments, changes in company policy and the like. Employees do not like being kept in the dark about matters concerning their future!

Empower your workers

No-one likes to feel powerless; a good boss allows his staff a little discretion and flexibility. Be prepared to step in with discreet correction if necessary and avoid being heavy handed with your directions and instructions. Allow your staff a little scope to make decisions and solve problems and you’ll be pleasantly surprised with how much they appreciate the freedom.

The right toolkit

No-one can perform a role to their absolute best if they don’t have the right tools for the job. It’s vital that staff have the correct procedures in place such as the right software and systems, appropriate hardware and training. Being adequately equipped helps to build confidence which can only improve performance and boost staff morale.

Give and take

If you allow your staff a degree of flexibility and understanding when you deal with domestic emergencies and personal issues, they will repay you with loyalty a thousand times over. On that occasion when you need to ask them to work late to meet an important order, they won’t hesitate to help you out because you did the same for them.

Help your business achieve success

Ask yourself: if I were looking for a job, would I want one with this company working for this boss? If the honest answer to that is ‘yes’, you’re on the right lines.

If you’re looking for help with your people management, contact us at Goodwille. We’re here to help with a range of services for those looking to set up a UK company, managing UK employees and achieve expansion success.