To be a great leader, one must first understand his or her own leadership qualities and tendencies.
A leader must establish a personal definition of success. He or she must know how to rally co-workers, handle issues and react in the face of setbacks. One must identify how much advice and support to seek from others and how much to rely on their own ideas and experiences. To succeed, truly effective leaders know they need to understand how they lead, according to an article in the Harvard Business Review by William C. Taylor.
Mr. Taylor, cofounder of Fast Company magazine and author of Simply Brilliant: How Great Organizations Do Ordinary Things in Extraordinary Ways, posits there are four main styles of leadership.
1. The classic entrepreneur. To this type of person, "leadership is about the thrill of competition and the quest for success," according to Mr. Taylor. They value no-nonsense metrics such as costs, quality and profit margins. While these leaders are committed to their organization's values, financial returns matter the most.
2. The modern missionary. On top of striving for business success, these leaders want to achieve significance. "Success is less about making money than it is about making a difference and having an impact," Mr. Taylor wrote. These leaders may take risks that classic entrepreneurs would avoid or turn down deals others might accept because the financial reward isn't as important as the broader effect they hope to have.
3. The problem solver. These leaders "believe in the power of expertise and the value of experience," Mr. Taylor wrote. As they ascend the leadership ladder, problem solvers are always the first to face difficulties and find new opportunities. While they rely on advice from colleagues and mentors, they ultimately let their own experiences guide them forward.
4. The solution finder. A solution finder values incremental results and solid solutions, but they also believe the most profound contributions often come from unexpected sources and people. They don't let what they know limit what they can imagine. "These modest, humble, self-effacing leaders don't make headlines, but that doesn't mean they’re not ambitious," according to Mr. Taylor. "They believe that humility in the service of ambition is the right mindset to do big things in a world of huge unknowns."
You can take Mr. Taylor's 16-question quiz to figure out your own leadership style.