9 Traits of Well-Loved Entrepreneurs

Being a successful entrepreneur takes more than just navigating your company through the rough waters of business. It means inspiring your staff to do everything it can to help grow your business.

We all know the type—the business owner for whom every employee would bend over backward. The shop owner whose staff gladly works overtime or comes in on their day off if needed. The company founder who treats every employee like a member of the family and is as revered as the beloved head of a real family.

These are the entrepreneurs who inspire fierce loyalty and adoration, and we can learn a lot from them. So just what is it that makes them so special?

1. They’re truly authentic. Entrepreneurs who are adored by their staffs are unabashedly themselves. They’re consistent because they’re not playing a game or putting up a front when they’re on the job. Whether you see them in the office or at the local park, these people are always true to themselves.

2. They understand the power of reciprocity. Well-loved entrepreneurs understand that hard work, honesty and trust are given to the bosses who first demonstrate those qualities themselves. Being open, trusting and trustworthy, and willing to work harder than anyone on their staff is how the best business owners manage to have a staff who’d go to the ends of the earth to prove they deserve the boss’s respect.

3. They’re positive. As business owners, we have to learn to lead the way in enthusiasm. After all, if you’re not excited about your company, how on earth can you expect that of your assistant? Harness the power of emotion, and show your staff that you’re pumped about what you’re doing. It’s important to acknowledge the negative things that will arise, but you should work to banish negativity (and the morale drain it creates) from your workplace.

4. They’re highly approachable. The most powerful entrepreneurs I know are fiercely democratic in that they believe we’re all equal. An adored entrepreneur knows that every single employee is important, has valuable insight to share and provides a unique value to the company. Whether it’s the janitor, the top salesperson or the part-time customer service rep, every single member of our staff needs to know we're available to them.

5. They listen more than they talk. We have two ears and one mouth for a reason, folks. We should listen twice as much as we speak, and well-loved entrepreneurs understand this principle. Observe, learn and take it all in. Then when you have something to say, people will listen. Make your words count because of their content, rather than by being the most long-winded one in the room.

6. They pat, kick, pat. Entrepreneurs have to deal with problems just like anyone else, but what differentiates the adored ones from the rest is the ability to give constructive criticism. Start with a pat on the back, follow it up with a kick in the ass and end with a pat on the back. Praise, admonish and praise. This technique softens the blow and reinforces your belief that your employee is an important member of your team.

7. They work hard. True entrepreneurs know they have to set the example for the entire company. If you’re merely in it for the Rolex and the golf club write-off, then it’s going to show in the attitudes of your staff. Working hard sets the tone and motivates your employees to follow your lead.

8. They’re both authoritative and human. Adored entrepreneurs don’t ignore problems. They acknowledge that problems are inevitable, then set out to solve them right away. We like our leaders to come with a healthy dose of empathy and a willingness to acknowledge that any path that’s worth taking will come with its share of difficulties. Let your employees know you’re a realist who won’t tolerate problems for long. Be a problem solver, and move on.

9. They’re masters of public recognition. There’s a huge reward in acknowledgment. Being lavishly, genuinely praised in public will win your staff over every single time. Just as you should serve up criticism in private, you should bestow praise publicly. Your employees will not only be proud of their accomplishments, but they'll also be proud of their place in your company.
Don’t get me wrong: I’m not telling you that being an entrepreneur is a bed of roses. There will be plenty of times when you have to make hard decisions that can’t possibly make everyone happy.
What I am unequivocally saying is that you can consistently keep the respect and adoration of your staff if you model the traits listed above.

Mike Michalowicz is the author of Profit First, The Pumpkin Plan and The Toilet Paper Entrepreneur. He's also the founder of Profit First Professionals, an organization that certifies accountants, bookkeepers and coaches in the Profit First method.