Mark Cohen, Metlife, on Becoming a Better Leader

Leaders are people who hold a position of social influence who use that power to help others succeed. A good leader is someone who makes people want to do a better job, not because of fear of reprisal, but because they feel inspired to be the best they can be.

Be more than a manager

One common misconception about leadership is that it goes hand in hand with management. Being in a position of power doesn’t automatically make someone a good leader, in fact, one of the key skills about managing a team effectively is maintaining a sense of perspective. Managers are an important part of a team but they mostly serve to organize tasks and schedule people and track inventory. Leaders, on the other hand, have a vision and want to motivate others to help achieve it. As an effective leader, it’s important to understand this distinction.

Embrace self-awareness

Before you can productively lead others, it’s important to have a sense of self awareness and an ability to recognize your own faults. A sense of humor is also important, especially a self-deprecating one. Being open to constructive criticism might be a hard skill to master, but it will help you succeed in the long run. When you allow employees to provide feedback and you can admit wrongdoings, you show your team that you are someone they can relate to. Conversely, it’s important to display confidence and know your areas of strength so you can be a mentor and someone for people to look up to.

Be fair

You should always treat everyone on your team equally, no matter what their position might be. There’s no need to remind people who the boss is. All levels of a team are important and all people need to feel valued. An effective leader builds up other people’s self-confidence and encourages them with positive reinforcement. You want to see people looking forward to coming to work, not dreading it. People with an upbeat leader who are also surrounded by optimistic team members will feel a sense of camaraderie and motivation.

Learn to delegate

Another important skill as a leader is the ability to properly delegate. Trying to be the friendly boss has a tendency to backfire. Working alongside employees without also leading them not only loses people’s respect, it risks damaging employee relationships if there are any perceptions of favoritism.

Be open and approachable

Once you’ve established your team, it’s important not to get too comfortable with the status quo. Stay open to all new ideas and out of the box thinking, since that is precisely what will put you ahead of your competitors. Be an inspiration to your staff by setting clear goals and coaching employees on their individual roles. Communication is vital in any boss/employee relationship. Since you have a vision of how your business will succeed, it’s important to convey that dream to the people around you in order to achieve it. Provide guidance and encouragement to keep your team on track. People respond well to a reward system, so you should also publicly recognize when they do a good job. This recognition will inspire other people to strive for the same accolades.

About the Author

Mark Cohen is a financial professional who has previously worked at BCG Securities and Metlife. Mark has extensive experience working as a financial advisor and enjoys being able to help others successfully manage their personal finances. He feels that working in finance provides a challenging environment where there are constant developments and changes. Mark Cohen has enjoyed great success in his career and achieved much at the various companies he's worked at, including building a talented team of investors, being recognized in the top one percent of financial advisors in the country, and being recognized in the top 20 of advisors throughout the country.