Tuesday, December 28, 2010

It is very difficult for businesses large or small to survive in today's marketplace.  The life span of the average multi-billion dollar corporation is about 17 years.  More than a million new businesses start every year, and 40% fail that same year.  Only about 12% survive the first 5 years, and only 2-3% survive the first 10 years.

Numerous studies have shown that the most important factor in achieving and sustaining long-term success is leadership.  Leaders have the power to make things happen and influence the organization.  Leaders are responsible for understanding customers and markets, developing a strategy, finding funding, etc.  Leaders provide the vision, inspiration and direction to attract and motivate others to be successful.  Leaders create the infrastructure--processes, systems and structure--in which the organization can succeed.

The essence of leadership can be summarized by three themes:
  • A clear and compelling vision
  • The power to translate that vision into reality
  • The ability to rally people behind that vision
Although a person may have a clear vision, without the power to translate that vision into reality, including rallying support from others, he/she is not really a leader.

What is  your vision?  Can you translate it into reality?  Can you rally support from others?  Take some time to formulate that vision and get started in 2011 on making it a reality.

Until next time...

Sheryl Tuchman