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When it comes to achieving financial success, most people assume that this is mostly accomplished from the strategy and investment portion within a business. While they are not inherently wrong, you need to understand that running a business takes more than the right plan. Rather, a business can be truly defined simply by the leadership and management of their CEO.

As a CEO, you need to understand that leadership has nothing to do with titles. Instead, it has everything to do with the ability to influence people, especially those around you. For the past few years, the definition of leadership has shifted away from the antiquated militaristic style that we use to hear about in the early 90s. Today, leadership is defined as an action. It is the contributing force that is able to maximize a team to the best of their abilities. It is a change that is able to adapt to a new environment and analyze the modifications it needs to make in order to reach its goals. Last but not least, it is a visionary that is able to foresee a promising future and manage those individuals to that long-term goal. With 2015 coming to an end, you as a leader need to reflect on those necessary changes you need to make for the betterment of your business. By reflecting and internalizing on these channels, you, as a leader, will be able to transform your business for 2016.

I. Innovate Your Vision and Goals

While this may seem obvious, especially if you want to grow and expand for the future, many companies lack that ingenuity to think outside the box. As a business leader, your job is to always be reinventing your value proposition every few years. This can be done by expanding your business, testing new products, or entering into new ventures. Think about the most successful entrepreneurs todays. Steve Jobs went beyond the title of computers and looked to impact the music, television, and entertainment sector. Elon Musk went beyond the online payment transaction to fund and create innovative ways for transportation for our world and beyond. By going outside of your comfort zone, you are directly pushing your company to know more about the market and the customer. Make sure you take this action. Lead your company to these new thrills and ideas. At times, many entrepreneurs may see this as a disruption or a risk. But in order to expand and grow as both a leader and a business, you need sometimes jeopardize that idea of safety to see if your new idea will take to you the next step.

II. Look Out for Emerging Leaders

As your business beings to grow, it is vital that you pay attention to the overall office culture. Flat organizations oftentimes overlook the quality and excellence that individuals produce at their jobs. In order for your business to grow, try and find those leaders that are truly transforming and impacting your business. Collaborate with them and develop them each and every day. Analyze how they work, who they work with, and what results they produce so that you can optimize that strength all throughout your office. Keep in mind, giving a new title is completely different than giving them a responsibility. With a title, a person feels that they are more superior to another individual. This can often cause a negative view within the hierarchy of the office. Instead, frame the title as a opportunity for leadership and responsibility. Have those individuals rise to your standards and transform the office by cultivating talent and surging motivation.

III. Recognize the Little Things

As the overarching leader, you can frequently overlook the little wins within the office. Remember, a true leader is a visionary. They are able to foresee a promising future and manage those individuals to that long-term goal. In order for this to happen, you need to of course recognize the small wins that is getting you to that main goal. One of the most demoralizing things you can do for your team is not recognize those wins. That lack of recognition not only undermines the work efforts of your team, but also harms the consistency of work needed each and every day.