Over the last few years I’ve become increasingly interested in the concept of steward leadership. A steward leader is someone who not only focuses on achieving success for their organization but also takes into account its long-term sustainability and positive impact on society. Sounds similar to my definition of purposeful business development. To excel in this role, it is crucial for steward leaders to practice purposeful and consistent business development. In this post, I explore why good steward leaders should embrace business development and three essential lessons they can learn from it.
Lesson 1: Building sustainable relationships
One of the primary goals of a steward leader is to ensure the long-term success and impact of their organization. To achieve this, they must develop and nurture sustainable relationships with key stakeholders. Of course, business development plays a vital role in fostering these connections.
Business development is not just about closing deals; it’s about creating lasting partnerships. Steward leaders who engage in purposeful business development activities learn the art of building trust, understanding the needs of their partners, and aligning their organization’s goals with those of their stakeholders. This lesson extends beyond traditional business relationships and includes connections with employees, customers, investors, and the broader community.
By focusing on relationships, steward leaders can harness the collective power of their network to drive positive change and ensure the ongoing success of their organization. They become effective stewards of their company’s reputation and goodwill, a critical component of sustainable leadership.
Lesson 2: Adaptation and innovation
Adaptability and innovation are essential for an organization’s survival. Steward leaders need to stay ahead of the curve, and this is where business development comes into play.
Business development activities often involve market research, competitive analysis, and trend forecasting (Assess Phase of the triple A framework). Engaging in these practices allows steward leaders to gain valuable insights into industry shifts, emerging technologies, and evolving customer preferences. Armed with this knowledge, they can make informed decisions that position their organization for long-term success.
Furthermore, business development encourages steward leaders to foster a culture of innovation within their organization. They learn to embrace change, experiment with new strategies, and seek out opportunities for growth. This commitment to adaptability and innovation not only ensures the organization’s relevance but also strengthens its capacity to address complex societal challenges.
Lesson 3: Creating positive impact
A key distinction of steward leadership is its commitment to creating a positive impact on society and the environment. Business development provides steward leaders with a platform to translate their organization’s mission into tangible actions that benefit both the business and the world.
Through strategic partnerships, sustainable practices, and social responsibility initiatives, steward leaders can leverage their business development skills to drive meaningful change. They learn to identify opportunities where their organization can make a difference and align their growth strategies with their values.
By practicing business development with a focus on impact, steward leaders position their organizations as forces for good. They not only achieve financial success but also contribute to a more sustainable and equitable world. This approach is not only morally commendable but also increasingly attractive to customers, employees, and investors who prioritize socially responsible businesses.
Final thoughts on steward leaders and business development
For the aspiring steward leader, practicing business development is not just a choice; it’s a necessity. Through building sustainable relationships, embracing adaptability and innovation, and creating positive impact, steward leaders can steer their organizations towards long-term success while fulfilling their broader societal responsibilities. By mastering these three essential lessons, steward leaders can leave a lasting legacy of sustainable leadership in an ever-changing business landscape.
For an interesting take on what Steward Leadership is all about check out this article from fastcompnay.com
Steward Leaders
For more help with starting your business development journey download my quick start guide. This gives a series of simple activities to quickly set you on the right path in only 10 days.
For a definition of business development you can check out my take in this post here.
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Business development and farming
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