Take the next step in your leadership journey and discover the different types of leadership styles. Finding out which one matches best with your inner strengths will help you unlock your full potential. Read 8 Figure Firm’s blog to discover the vast array of leadership styles and find the perfect fit for unleashing your true leadership potential.
What are Leadership Styles?
Leadership styles refer to how a leader behaves to motivate, guide and inspire their followers.
A leadership style determines how leaders develop plans and strategies to reach objectives while taking into account stakeholder demands and ensuring team health and wellness.
Leadership styles are a reflection of many factors of a leader, including:
- The leader’s personality
- The leader’s life experiences
- The leader’s emotional intelligence level
- The leader’s family background
Furthermore, the way they think also plays a role in the development of unique leadership styles. Leaders must understand their leadership style and which traits it consists of, to become more effective.
Different Types of Leadership Styles
Let’s take a look at some of the most common leadership styles used by business professionals.
Autocratic Leadership
One of the leadership styles is Autocratic Leadership, where direction comes from the top. We can summarize this leadership style with the command “Do as you’re told.”
With this style, a singular figure leads a team, they determine strategy, policies, procedures, and the direction of the organization, dictating everything to subordinates.
Authoritarian leaders typically thrive in an environment where they wield the most power and control. They don’t emphasize collaboration or request feedback from those within their circle and these leaders are more inclined to remain in charge.
Democratic Leadership
This leadership style, also known as “Participative Leadership”, ensures everyone has a chance to contribute to the decision-making process. This approach encourages collecting input from subordinates and team members.
Democratic leaders are still the ultimate authority in decision-making, but they utilize an inclusive approach that allows others to take part in the process and be involved with the outcome.
Laissez-Faire Leadership
Laissez-Faire is one of the most successful leadership styles. Where managers trust their employees to complete tasks on their own, allowing them autonomy and freedom while still encouraging a collaborative environment.
Micromanagement should not be necessary with this type of approach since employees will already have been given the proper guidance and resources. Laissez-faire leaders delegate decision-making power to their employees, providing guidance and support whenever needed.
Transformational Leadership
This kind of leadership involves developing a grand vision and rallying your employees around it. With this style, the team is eager to grow and develop, both on a personal and professional level, to reach the overarching objective.
Transformational leadership focuses on empowering individuals and teams to reach beyond what they previously thought possible. It encourages employees to constantly strive for higher accomplishments and boosts morale.
Servant Leadership
Servant leadership requires a leader to prioritize the needs of their team over their own. It emphasizes leading by example and demands that leaders put the requirements of their team first before they take any action themselves.
Servant leadership is both an ethical and practical philosophy. It requires leaders to have high moral values and generous nature to create a healthy organizational culture. This ensures the morale of the team stays positive while fostering a strong ethical and value-driven environment.
Transactional Leadership
Transactional leadership, commonly referred to as managerial leadership, is based on providing rewards for desired behaviors. Leaders use this system to set clear goals and tasks for their teams.
This style enables a way to recognize the efforts of their team members and appropriately incentivize them for their hard work. Rewards typically involve financial recompenses, such as pay or a bonus.
Leaders who embrace a “give and take” style focus on efficiently implementing routines and following established procedures rather than making bold, transformational changes to their organization.
Determine the Right Leadership Style for You
To be an effective leader, you must be able to identify the most suitable leadership style for you.
Knowing and adapting your leadership style according to your current position can bring several benefits, such as:
- Enhancing communication and collaboration
- Allowing employee engagement to grow
- Increasing team effectiveness.
Follow these three tips to find the best leadership style for you:
- Be clear about your goals. Having an organized vision enables you to effectively communicate your ideas to your team and motivate them to work with you.
- Experiment. Try various leadership styles, this is the best way to find the style that suits you and your team best. This can help you make sure that everyone is on board and that you’re getting the most out of your team.
- Don’t try to be perfect, instead lead authentically. Leading from a place of passion and purpose will amplify the impact of your message.
By understanding and choosing the leadership style that aligns with your strengths and values, you can confidently navigate the realm of leadership, inspire your team, and drive remarkable success in your personal and professional endeavors.
Speak to the Experts
At 8 Figure Firm, we recognize the importance of effective leadership that prioritizes company values and motivates our team to succeed. With programs like Leadership.ONE, we are here to help you become a better leader and reach eight figures.
Sign up now for Leadership.ONE to become a better leader for your business and in your life. Turn your law firm into a law business today.
