Strategies - leaders need to have a clear strategy in how they will achieve these objectives, and the ability to form a strategic plan.

Knows how to make decisions – Good leaders show strength in making difficult and unpopular decisions; they have confidence in their own ability and the strength of their own convictions. A good leader understands that indecision on their part wastes resources and denies the organization opportunities.

Risk taker- Leaders must have the strength and courage to act in business situations where they are not guaranteed success; a good leader is willing to risk failure.

Motivator – A good leader articulates their vision to others, persuading them of the worth of their ideas. A leader inspires people in working towards the objectives of the organisation as well as ensuring that they achieve their personal goals. Pushing the Individual to achieve and develop for the benefit of themselves and the organisation as a whole.

Team builder – Alongside motivation leaders build teams ensuring that they draw the best from each individual and the team as a whole, they coach teams to ensure collaboration, consensus and resolve conflicts.

Self knowledge and awareness – Good leader knows their own strengths and weaknesses and is able to view their behavior objectively and also reflect on their own practice. They need to both demonstrate the ability to acknowledge feedback, but also to act upon that feedback and make changes where necessary.

Integrity- leaders need to be trustworthy in order for others to follow them.

Open-minded and willing to learn – Good leaders also pursue life-long learning, a key quality is the desire in leaders to continually learn and develop, and they must show openness to new ideas. Reflection is a key element of lifelong learning if leaders are to improve, develop and adapt to the constantly changing business environment.

Communication – leaders can communicate their ideas to a diverse workforce and adjust their style in meeting the needs of the people they lead.

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The amount that a business can borrow and for how long will depend on the kind of business it is and how quickly the merchandise purchased with a bank loan can be resold or used to generate funds. For example, a farmer going to the bank to borrow funds for seed, fertilizer, equipment and other needs. The farmer may buy such supplies in the spring and pay them after the fall harvest.

It is important for people in finance and accounting department to do a cash flow forecast. Anticipating times when many bills will come due, a business can begin early to seek funds or sell other assets to prepare for the crunch. Other than that, it is also important to keep friendly and close relations with his or her banker. They may spot cash flow problems early and point out the danger. Or the banker may be willing to lend money in a crisis if the business person has established a strong, friendly relationship and on openness, trust, and sound management practices. It’s always important to remember that your banker wants you to succeed almost as much as you do. Bankers can be an invaluable support, especially to small, but growing businesses.

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