Being a young entrepreneur is a lot of fun, but it’s also a lot of work. Over 300 million startups are created every year, which means there are millions of entrepreneurs out there. So, you have to work relentlessly if you want to make it big. And to do that, you need the support and trust of your employees.
If you want to build the best company possible, you’ll need to pay attention to every detail—from how your employees feel about their jobs to how well they’re executing their daily tasks.
There are several ways that young entrepreneurs can gain the support and trust of their staff members so that everyone’s working toward the same goals. Here’s how you can do so too.
Be Open To New Ideas
As the boss, it’s easy to feel like you have to be in control at all times. However, being open to new ideas is a great way to get your employees engaged and excited about what they’re working on. A study showed that 65% of employees feel happy when they get more recognition at work.
Being open-minded doesn’t mean that you should always agree with every suggestion that comes your way. It does, however, mean that you need to consider each idea on its merits and not just discard anything that challenges the status quo.
After all, if someone has put together an argument for why their idea would be better than yours, there probably is something there worth considering.
It also means that employees will feel more invested in their work because they’re able to contribute ideas and have their voices heard by management. Nothing makes people happier than feeling like their opinions matter.
Listen To Their Suggestions
You may be the one calling the shots, but you don’t know everything. Listen to your employees’ suggestions and value their thoughts. When someone approaches you with a problem or an idea, give them space to explain themselves fully before making any decisions about how it should be handled. You might even learn something from what they’re saying.
If an employee makes a suggestion that you believe won’t work, consider asking them why they feel that way instead of just dismissing it outright. Maybe there’s something about their idea that could make it more successful than you initially thought.
If an employee comes up with a solution for a problem that is plaguing your company, don’t be afraid to admit when they’ve got something right.
Hire Experienced Growth Coaches
A good growth coach can help you develop a plan to grow your business. They will also be able to help you manage your time, set goals, and prioritize tasks to achieve the objectives of that plan.
When you hire a business growth coach, you’re actually welcoming an experienced individual to analyze your current business situation and provide necessary suggestions. They can tell you what you’re doing right and what you’re doing wrong.
As a young entrepreneur, you may have the skills to run a business but not enough experience. So, when you bring in someone more experienced, it shows your employees the lengths you’re willing to go for the betterment of the company.
Give Constructive Feedback
Give constructive feedback that is specific and actionable, timely, positive, clear, fair, and consistent. You need to give feedback at the right time. This can be tricky because you don’t want to overstep boundaries or cause offense by giving too much feedback too soon (or even at all).
The best thing about giving constructive criticism is that there are several ways in which this can be done, like face-to-face meetings and one-on-one conversations, or even emails.
Surveys suggest that almost 75% of employees within the organization prefer constructive feedback from their superiors or managers. The feedback helps them grow and become better professionals, they believe.
Be Open About the Company’s Future Plans
As a young entrepreneur, you must be open with your employees about the company’s plans and goals. You also need to be open about the current financial situation of the business.
Be clear about the strengths of your company and its weaknesses, as well as what challenges it faces. This will allow employees to help in overcoming these issues and support you as a leader.
Never Withhold Any Information
You need to be honest with your employees about where the company is headed and what its financial situation looks like because they will eventually find out anyway. This can seem like a scary proposition, especially if you have been successful in securing funding from investors or lenders.
However, being honest with your staff will help build trust and loyalty, which matters in these uncertain times when businesses come and go all the time.
In summary, it is vital to remember that no matter how much you may want to run your business without employee input, it simply isn’t possible. Employees are an integral part of any company. They need to be treated as such for things to run smoothly.
As a young entrepreneur, this means being open-minded and welcoming new ideas from everyone. Do it right, and you’ll have their full support and trust, which will help you and your business become successful.