There are many different factors in determining the success or failure of a leader or business.
Many in business question what these factors are, and whether or not there is an outline of entrepreneurial success.
In order to answer this question, I sat down with Godard Abel, lifelong entrepreneur and founder of three successful companies. Godard has had many opportunities to learn about these factors firsthand. Our full interview is recorded here.
He outlined five factors as the key to leadership and business success, and he lives by these in his own leadership at G2 Crowd, where he is co-founder and executive chairman.
Here are the highlights of what Godard had to say.
Discovering 5 Factors
Godard has a natural curiosity and enjoyment of people and business. This has served him well in his longtime entrepreneurial career, developing three separate successful companies.
His experiences have helped him land on five essential factors for entrepreneurial leadership success.
The 3 P’s
The first three factors to success in leadership and business are known as “the three P’s.”
The three P’s are:
The role of passion in leadership is invaluable. Without passion, the energy of the company will decline and in turn, fail.
“As entrepreneurs, you have to pace yourself and have that energy,” Godard said, “If you’re going to have a meeting, you have to bring the passion. If you can’t bring the passion, you shouldn’t have the meeting at all.”
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A lack of persistence and drive will inevitably lead to failure. Mental toughness and dedication to one’s company are required of a leader for success.
There are two types of pacing—both in your personal life and in your investments. Personal pacing is meant to keep leaders from experiencing burnout, while investment pacing encourages proper use of finances at opportune times.
“The key is knowing when it’s the right moment to go big,” Godard said, “and knowing when it’s the right moment to really save your resources for the day when you are ready. But I think that’s something a lot of companies get wrong.”
The 2 A’s
Along with the three P’s, there are two more factors to success as a leader in business.
The two A’s are:
Alignment allows for one clear direction of a company, which is imperative to the health and success of a business.
There will always be disagreements in business, but if you’re committed to alignment, you’ll handle them quickly.
One practice that encourages alignment is for sales folks to check the direction they’re headed with where the companies leaders are headed. This ensures that the company is going in the right direction as a whole and not hindering itself from attaining success.
Godard’s experiences have led him to meet a ton of new people, and he genuinely wants to connect with them all.
“I have found it to be the most rewarding thing, the authenticity,” he said. “It gives my life meaning. But it’s also very effective.”
You should build authentic relationships in business with the people you work with, but also with your clients. When you build a business, you need as many people to help you as you can get.
“I think authentically asking for help, it’s just human nature. We all want to help each other, and share our human experience.”
The practice of incorporating these five factors into your life and business will help you achieve great success as a leader.
With the tools he shared, Godard believes it’s possible to differentiate yourself from failing companies and build a great organization, strong team, and deep relationships.