This is the third in my series of posts about leadership skills in people I admire.
I loved reading Duncan Bannatyne's autobiography. Here are leadership skills he displays:
Working with the right people
‘Most of my talent is home grown; people that have come in on work experience or in lower positions and have worked their way up. It’s all about empowering people to be able to get on and do their jobs well. A chain is only as good as its weakest link, so you have to have good people in EVERY part of the organisation.
http://www.theangelinvestor.com/article/100064/Duncan-Bannatyne-Enter-the-Dragon/
Clear expectations
Duncan ensures that his staff understand his expectations of them. He seems very strong-minded and you have to respect him for it as his vision doesn't sway. This ensures his workers are very clear about the way of working he wants from them.
Attention to detail
Two moments I loved in his book involved paying attention to small details. I loved his story about telling off his staff for buying paper clips! His instructions were to recycle the ones that other firms send to him! In another story he told of calculating the percentage of space in his gyms that were not earning any profit, for example, corridors. He then arranged for new builds to have a lower percentage of non-profit making space. Two brilliantly simple details. It just shows how the attention to detail is what can make a good business great.
Know your stuff
In his autobiography, Anyone Can Do It, Bannatyne talks about taking advantage of government grants to help set up a chain of nursing homes. Later he refers to the process of market research before setting up a new gym. He's a clever guy. He knows what he's talking about. He makes sure that he knows his market inside out. I've seen him many times on Dragons' Den turning down a business because he doesn't know the market. I've also seen him criticise others when they don't know their own market. Knowledge is power!
Image: http://www.bannatyne.co.uk/about-duncan
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