Paul Quinn, Director at The Quinn Partnership, Management Due Diligence specialists, reveals what it takes to become a successful business leader…

Over the last 14 years or so while working with Private Equity investors and their portfolio businesses, and crafting our Management Due Diligence approach, we’ve seen a fairly full range of business leaders – from popular bosses to autocratic entrepreneurs and even the lucky heirs who try to take on the challenge set by their impressive fathers. We’ve met the likeable, humble and engaging as well as the sharp, feisty and difficult.

Each style has the capacity to deliver different levels of success and effectiveness. We’ve seen decent, fair bosses delivering well to a point, but also finding the challenges associated with then taking the business on to another level difficult. Also, we’ve seen the resilient, thick-skinned, difficult leaders take everyone with them and use their sheer bloody-mindedness to produce tremendous business success.

The best leaders operate in dynamic markets and never rest from new ideas and constant change. They cope with the need to re-invent product, even create new markets and develop their teams to meet the challenges associated with these shifting tides. They anticipate and drive new directions, show a determination to succeed and communicate clarity at different levels.

But the best leaders take their people with them. They understand their teams and appreciate their limits as well as their strengths. But just as they are mindful of the need to move their business on, they never put their people in situations where they are set to fail.

Throwing somebody in at the deep end is a last resort not a business strategy. ‘Sink or swim’ was left behind with ‘lunch is for wimps’ back on Wall Street.

Dynamic businesses still require intelligent human capital planning and investment in its development. The best bosses offer support through change and crystallise some clarity in times of ambiguity.

Most problems arise from poor selection decisions, underinvestment in personal development, and a requirement for increased awareness of the longer-term business agenda, so cultural and strategic alignment is fundamental.

Our Human Capital framework can ensure issues such as succession, strategic selection, development and acquisition are addressed and that a mitigation strategy is formed, as well as ensure that you have established the right values and behaviours by motivating incentives and rewards.

A good boss will build a good blend in their team, know what they need, know what they’ve got.

This way, decent bosses don’t let their people down.

Anticipation of opportunity, pitfall and obstacles means operating with the benefits of hindsight as far as is possible.

We are the UK’s leading Management Due Diligence and Human Capital Planning specialists, working closely with Private Equity. If you would like to receive specialist advice regarding Management Due Diligence, please contact us.