Effective Leadership Means Managing the Ups & Downs of Business

Any business is subject to the whims of the market. Whether or not the business is financial, commodity, sports cards, or toothpaste, there are ups and downs in the normal business cycle. The key is not responding too harshly when times are tough or too generously when times are extremely profitable. A glance at the profile of Stephen A Wynn in WSJ demonstrates how effective leadership can be a calming presence in an organization. Patience, a cool head, and a willingness to adapt on the fly are trademarks of an effective leader to bring a company out of a dip in revenue or keep the company grounded when revenues are soaring.


Every manager realizes that situations change and markets can alter themselves with time. A degree of patience is needed before passing judgment on the success or failure of any type of strategy. Circumstances can change quickly, which means that assets and liabilities can be very different from day to day. Executive committee members realize that some visions take a while to present significant benefits, and taking the necessary time to analyze them is paramount to a winning organization.

Keeping a Cool Head

People in general have a tendency to be emotional, but leaders that keep a cool head in good and bad times have a way of showing the workforce the right path to take. While it is easy to lead a company when revenues are increasing, it is necessary to keep everyone focused on long-term goals. The same is true about tough times, because a leader has the responsibility to pull the company out of the situation and reverse the trend to the positive.

Willingness to Change Quickly

Moving quickly is the hallmark of many business endeavors. Business is always changing, and flexible companies are able to adapt to the market quickly. Leadership has the ability to steer any company away from difficulty, but often the time to formulate a strategy is not present. Adjusting on the fly and making minor tweaks in the organization are often required to optimize and perfect performance. Regardless of what industry the business operates in when a leader is quick on their feet, the organization can be better served in the long run.

In the end, patience, a cool head, and fast adjustments make a good leader a great one. Ups and downs are going to happen in every industry imaginable. Effective leaders find the positive that offsets the negative, which takes the company into familiar territory. Leading by example is nearly always the best course of action, and when employees see their executives paving the way, everyone pitches in to embrace the situation.

Habits of Successful People

Need to get into the right frame of mind in order to achieve your goals? Adopt these habits that most successful people swear by. Here are nine things that a majority of successful people do on a regular basis.

1. They want to learn new things. Also, they want to gain that new knowledge as quickly as possible. To do this, read 15 pages of non-fiction every day.

2. The visualize their goals. Picture what it will look like when you finally achieve your goal. Books like “As a Man Thinketh” by James Allen and “Psycho-Cybernetics” by Maxwell Maltz will help teach you how to do this.

3. They prioritize. Figure out what the single most important task is for the day ahead, then execute it as needed. Set a time limit on achieving each step of the goal, too. When you set limitations, you create urgency, which encourages you to get through each task quicker. Write down the goal and the steps you’ll take to reach it to help you stay on track.

4. They manage their money. There’s a ton of advice out there about managing your money, whether you’re having trouble budgeting, investing, saving, or paying back debt. It’s important to be financially stable and to be able to make sound financial decisions. Money will be coming in and going out, and you’ll need to know how to handle both.

5. They wake up early. Most successful people like Yosef Meystel can’t accomplish anything if they sleep in. Need to start getting out of bed earlier? Wake up 15 minutes earlier than you usually do. After doing this for three days, wake up another 15 minutes earlier. Continue to do this until you wake up at the time you want to. Eventually, you’ll naturally wake up at that time and you’ll barely even use your alarm clock!

6. They set goals. Write down the things you want to achieve, both short-term and long-term. Regularly refer to this goal list and update it as needed.

7. They exercise and eat a nutritious diet. It’s practically impossible to keep up with this type of lifestyle if you’re not healthy and energetic.

8. They network. It’s important to connect with other people who share the same work goals. This is a way to share ideas, partner with other influencers, and work through common problems.

9. They set boundaries. Write down a code of conduct for yourself and a set of guidelines to follow when it comes to your career.

There’s no secret to success. It’s in the details, routines, and habits of people who want to achieve their goals badly enough to do whatever it takes.