Weekly Business Insights from Top Ten Business Magazines | Week 291 | Leading And Managing | 2

Extractive summaries of and key takeaways from the articles curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Week 291 | April 7-13, 2023

Parenting Skills That Make You A Better Business Leader

By Lomit Patel | Forbes Magazine | April 11, 2023

Listen to the Extractive Summary of the Article

One of the primary challenges of leadership in business, of course, is managing a team of people with diverse backgrounds, skills and personalities.  While the parallels to parenting may not be obvious, they’re more striking than you think. By observing similarities with good parenting, leaders can draw inspiration to become better at both roles. According to the author, the following seven parenting skills helped him to become a better leader.

1. Patience.  As a parent, we should learn to develop patience and remain calm and focused in stressful situations. Patience leads to better outcomes, fewer tears, and a happier family. The same is true as an executive, a role in which one must routinely navigate complex problems in high-pressure situations. Keeping a level head (and my emotions in check) has been invaluable.
2. Communication.  As a parent, communication is critical to building a solid relationship with your children. Effective communication involves active listening, clarity, and empathy. As executives, many of us must regularly communicate with internal and external stakeholders. When doing so, we must listen actively. Take the time to understand different perspectives. And most importantly, convey your messages clearly and concisely when you speak.
3. Flexibility.  What may have worked when parenting a toddler isn’t going to work with a teenager.  In business as well the market conditions, customer preferences, and technology change rapidly. Being more flexible could help us navigate changing business environments and stay ahead of the curve.
4. Resilience.  Resilience is the ability to bounce back from difficult situations and adapt to change.  By staying committed to your children’s well-being and growth, you develop the strength to overcome challenges and keep moving forward. This resilience is critical to the business world, where inevitable setbacks and failures occur. 
5. Empathy.  Empathy is essential to build strong, trusting relationships with your children. You can connect with them more profoundly by putting yourself in their shoes and understanding their perspective. This is critical in the business world. By understanding the needs and motivations of your employees, customers and other stakeholders, you can build stronger relationships and create a more productive work environment. 
6. Leadership.  Good leaders, like good parents, set clear expectations, provide guidance and support, and set a good example. These same skills are also essential in the business world. A CEO is responsible for setting the direction and vision for his company, creating a positive and productive work environment, and guiding his/her team to success. You must be selfless, putting the needs of others before your own, to become a great parent and business leader.
7. Lifelong Learning.  What worked in the past may not work in the future, so adopting a growth mindset to stay curious, keep experimenting and adapt to new ways of doing things is a great way to stay ahead of the curve. Being a lifelong learner is the best path to revealing your best version, whether in parenting or business.

3 key takeaways from the article

1. One of the primary challenges of leadership in business, of course, is managing a team of people with diverse backgrounds, skills and personalities. Just like making difficult decisions as a parent, leaders must make choices that align with the company’s values and goals, even if those choices aren’t always popular or easy.  
2. While the parallels to parenting may not be obvious, they’re more striking than you think. By observing similarities with good parenting, leaders can draw inspiration to become better at both roles. 
3. Successful business leaders require empathy, patience, effective communication, flexibility, resilience, leadership and a growth mindset. So be a great parent—and know that all the love and hard work you’re investing into raising healthy, amazing kids will pay dividends in your work life.

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Topics:  Leadership, Parentship, Success