Refocus, Reset and Refresh
When you’ve been running your own business for a while, you know what works, and it’s easy to rely on the skills that got you to where you are. Chances are, you’re comfortable doing things in a certain way, and your team knows what to expect from your leadership style.
Leaders eat last, as the military saying goes. But while focusing on the business and everyone else is sufficient for today, it isn’t an optimal long-term strategy.
While many business owners spend a lot of time planning how to grow and improve their business, far fewer invest the same amount of energy in planning how to make themselves better as business owners and leaders.
At the end of the day, the skills and knowledge that elevated you to where you are today may not suffice for navigating the future. The external business world continues to change. And the long term impact of a Treaty alone will require fresh approaches and a renewed mindset.
The Markers of Success Have Shifted
What defines a successful business owner and leader has also evolved. The traditional notion that employees adapt to the boss’s preferences has shifted. Today, employees seek value in unique ways, necessitating managers to tailor their approach for each team member. While this may seem demanding, when great people are so hard to find, keeping them is imperative in such a competitive job market. It is the leaders who invest energy in refining their techniques and addressing blind spots who tend to get the most from their teams.
In my practice, I work with clients over periods of months and years as they work through waves of success, stability, and occasional failure. Struggling with doing more with less, balancing personal and professional aspirations, and navigating business turbulence are common themes.
But presuming that your years in the bank are enough to see you through is short-sighted. The road to excellent leadership is a long one, occasionally smooth, often marked with potholes, and always under construction.
Great leaders recognise that owning and leading a business necessitates continuous investment and re-design; not just in what you lead but also in how you lead.
Renewable Resources
The wonderful thing about leadership skills is that they are a renewable resource. But only if you regularly take the opportunity to refresh them. Leaders must be open to questioning their approach, viewing the way they lead as strategic, designed, and open to change.
Taking moments for reality checks is imperative – to refocus, reset, and refresh.
For many business leaders, finding time to invest in themselves is challenging. It is hard enough to balance work commitments with life beyond it. Intentional learning rarely falls into the urgent or must-do category. Waiting for it to happen passively misses the opportunity to actively refresh your skills and reinvigorate yourself.
And for the experienced leader it takes courage to acknowledge that there may be a different, more effective way. The process of self-learning and renewal can be unsettling, requiring a deep understanding of oneself, uncovering blind spots, and hearing feedback that might sting.
Yet refreshing your skills doesn’t have to cost the earth or take a lot of time. Leadership experts and Executive Coaches, like myself, share quick tips, podcasts, books, and videos that are easily accessible and mostly free. Details on how to access my free weekly leadership playbook can be found at the end of this piece.
But that’s not all. GFSB members also have access to free talks, practical workshops, and business updates where you can hear from local experts and share experiences with other professionals. As a multicultural country with a diverse range of industries, we have the opportunity here in Gibraltar to learn from different approaches.
Throughout 2024, we’ll be refreshing our learning and education programme even further to bring you more practical and useful learning opportunities to keep you ahead of the game.
But the reality is that for small business leaders, the onus is on you. If you don’t make time to continually improve as a manager and leader, no one else can do it for you.
The more energy you invest in learning how to be a better boss, the more your team will follow suit. As a manager, your behaviour is closely observed and emulated. When you show a personal commitment to learning how to get better at doing your own job, you’ll find that your team do the same. And that can only be good for business.
About the Author:
My bio: I’m Rebecca, an experienced leadership expert focused on enhancing the skills and mindset of leaders. Through executive coaching and workshops, I guide leaders through complex and next level challenges and empower them to cultivate productive, growth-oriented teams.
If you’ve enjoyed this, sign up to my newsletter: https://rebeccajackson.substack.com/
OTHER
How to: Brainstorm
If you’ve been dreaming of starting your own business, you’re not alone. Data from the UK’s Office for National Statistics (ONS) revealed that the annual number of companies registered is edging closer to the one million mark, that’s up by 75,000 in 2022 which itself was 30,000 higher than in 2021. Whether it's following a passion, aiming for financial independence, or breaking free from the 9-5 grind, every entrepreneurial journey begins with one crucial thing: a solid idea. But coming up with that perfect idea can be tough. This is where brainstorming comes in—it’s the creative springboard that can help you turn your business dreams into reality.
Gibraltar’s size means that shoppers don’t have too far to go to shop. Schools, supermarkets, entertainment, eateries and healthcare are all within easy reach. That hasn’t stopped Gibraltar's business community from wanting to meet its customers' needs online. I met three local businesses that have embraced eCommerce.
Pets are like family, right? As a proud cat dad, I’d actually go further and say that they are family. Over the years, I have spent my well-earned money on (many) toys, beds, treats and vet bills for my two feline furballs Nacho and Drake. And I am not alone. According to a recent Fortune Business Insight report, the global pet care market was valued at a massive £171.78 billion in 2022 and is projected to grow from £180.06 billion in 2023 to £269.29 billion by 2030.
Success doesn’t just happen; it’s built on a strong foundation of preparation, clarity, and taking consistent action. Whether you’re launching a new business, taking your current side-hustle full-time, or looking to scale in a competitive market, having the right plan in place is essential.
With its largely service-based economy, you'd be forgiven for thinking that Gibraltar didn't have to deal with the problem of toxic waste, perhaps more commonly seen in countries reliant on manufacturing, mining and even agriculture. However, every gaming company, insurance firm, fintech organisation, retailer, restaurant, and literally every other business on the Rock is potentially responsible for producing a particularly nasty waste byproduct - e-waste.
In an age where small businesses must adapt to stay in business, outsourcing has long been a way to enhance efficiency and streamline operations. Derived from the simple philosophy of delegating certain non-core tasks to external experts, outsourcing allows businesses to concentrate on their primary objectives and strengths. For the uninitiated, it's about seeking external expertise for tasks outside your comfort zone, skills base or business's main expertise.
Finding time to sit down with a book can feel like a luxury sometimes. We seem to be pulled in all sorts of directions, yet many of us still want to learn and stay exposed to new ideas. Podcasts have filled part of that gap. They’re accessible, conversational and easy to consume while commuting or […]
Whilst Brexit hasn’t exactly been a positive event, we can’t deny that it’s also been the catalyst for diversification and change. It was a true ‘before and after’ moment that made businesses rethink their strategies and, in many cases, change their direction of travel. Gibraltar’s newest bank, justbank, is born from this process. As well as heralding the arrival of a new bank, this fresh start gave the team at IDT Finance the opportunity to create innovative and tailored banking solutions from the ground up. I met with Managing Director, Damian Asquez, and Head of Corporate Banking, Nikolai Gafan, to find out more.
Forget everything you know about online shopping—eCommerce is evolving fast. While giants like Amazon and eBay once ruled, a new wave of platforms such as TikTok Shop, Shein, and Temu are reshaping the industry. But beneath the flashy deals and viral trends lies a growing conversation about sustainability, waste, and the hidden costs of convenience.
When it comes to ideation in business, there’s no one-size-fits-all approach. Every business, team, and leader has their own way of generating and refining ideas. Whether it’s through structured brainstorming sessions, casual conversations, or solo reflection, the goal is to unlock creativity and find solutions. We’ve asked four GFSB members to share how they approach ideation in their fields. As you read, think about how you generate ideas and remember that sometimes, the best results come from trying something new.
Whether you’re an ebook tapper or traditional page turner, there are thousands of books that can make you better at business. Áine Panter, Head of the School of Business at the University of Gibraltar has curated a list of must-reads that will inspire, inform, and equip you for success.
After teaching in schools for 18 years I decided to take the plunge and embark on a self-employed life. Driven by my passion for teaching children with special educational needs I set out to discover alternative ways to make education accessible to all. My vision was to have the individual in mind, with their own strengths and challenges, and with that came the birth of ‘edYOUcation Clare Francis’; bringing the YOU into learning.
If, like me, you spend more time than you should doom scrolling LinkedIn, you could be tempted into thinking no-one fails. LinkedIn has become a hyperbolic haven and a place to scream and shout about success. But what about failures - why aren’t we talking about them? In business, failure is inevitable. I mean it. Whether it's a product flop, a marketing misstep, or a company on the brink of collapse, every entrepreneur will face moments that test them. Yet, history has shown that these failures can often be the starting point for something extraordinary.
Starting and running a small business is rewarding but comes with its fair share of challenges. The path of entrepreneurship is often characterised by immense dedication, long hours, and tough decisions. As a small business owner, you're not just responsible for the operations and growth of your company and team, but also for your own wellbeing.
Since 2007, Earth Hour has been known as the biggest hour for the planet as millions of people switch their “lights off” as a symbolic action for the environment
Over the past few years, I’ve noticed the same logo cropping up more and more often. On coffee cups. On consultancy websites. In email signatures and pitch decks. The familiar B Corp badge, quietly signalling that a business is trying to do things differently. With our horizons widening post-treaty, could this globally-relevant badge could become a way of promoting your CSR values to an international market?
Thrive catches up with Nick Pitaluga TEP, Managing Director of Gibraltar Trust & Corporate Services Limited - “GTCS”. From starting out as a messenger to leading his firm through a major merger, Nick talks about the importance of stepping outside your comfort zone and offers inspiration for anyone carving their own niche.
Imposter syndrome is a psychological behaviour where individuals, including many high achievers, struggle with persistent feelings of self-doubt, inadequacy, or the fear of being exposed as a fraud. Despite their achievements, those experiencing imposter syndrome believe they are undeserving of their success or worry that they've misled others into overestimating their abilities.
Technology is having a major effect on every aspect of our lives, and the retail environment is not immune to these changes. Not only has online shopping revolutionised the way we think about buying and consuming, but it has also dramatically changed how we shop in physical stores.
Whether you’re building a business from the ground up or hoping to grow an existing operation, having a strong business development strategy is the foundation of success. But real, sustainable growth doesn’t come from chasing the next big thing, it comes from getting the essentials right. So, what are the fundamentals you can’t afford to ignore? In my view, this starts with something I call the “Holy Trinity” of small business marketing...