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Becoming an entrepreneur means becoming a leader. How successful your business is will be directly affected by how well you can lead. There are various types of leadership and some will work better than others. As an entrepreneur, there are leadership styles that are much better suited for you. In fact, how you lead will directly affect the tone of your company. These are the leadership styles every entrepreneur should know:

Charismatic Leadership

A popular leadership style among entrepreneurs is charismatic. This leadership style involves using the power of your vision to drive the team forward. This typically means being a fascinating leader who has excellent communication skills, a commanding personality, and high emotional intelligence. A charismatic leader can easily influence others to follow by connecting with them on a deeper and more personal level.

Servant Leadership

Servant leadership is a very humbling leadership style. It focuses more on putting other people’s needs ahead of your own. When a team or business is led by a servant leadership type, their leader is not formally recognized as the leader. Typically someone will become a leader in this instance because their skills and ideas will put them above naturally. An advantage to this style is it is very democratic, but leaders can sometimes be overshadowed by those using more assertive leadership styles.

Task-Oriented Leadership

If you’re the type of entrepreneur that likes to focus on completing tasks above everything else, then a task-oriented leadership style is right for you. This leadership style gives the leader all decision-making responsibilities to set up efficient systems to organize and monitor work. While this style is great for short-term instances when urgent work needs to be completed, it can lead to your teammates feeling unappreciated and undervalued in the long term because tasks become more important without factoring in their well-being.

Versatile Leadership

One of the best ways for an entrepreneur to run their business is a versatile leadership style. There are many benefits to each type of style and there will be times when one will be more beneficial than the other. A leader who is able to adapt their leadership style to their team or business’s needs will be much more successful and effective.