Leverage for Growth Podcast

Episode 120: Stepping Up Your Leadership

Episode Date:Jul 17, 2023

In this Daily Leverage podcast, host Jesse P. Gilmore contrasts transactional leadership based on rewards and penalties with transformational leadership that inspires through modeling, relationships, growth and innovation. Research shows transformational leadership drives team effectiveness and satisfaction. Gilmore advises adopting this approach, especially if growth is the goal. He encourages listeners to reflect on their current leadership style and take steps to become more transformational in health, personal growth, relationships and business.

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Show Notes

Episode Transcript

You are now listening to Leverage for Growth. Hey everybody, this is Jesse P. Gilmore, founder of Niche in Control and creator of Leverage for Growth. Welcome to the Daily Leverage Edition. Today’s topic is this, stepping up your leadership from transactional to transformational. Sit back, relax, and welcome to today’s Daily Leverage. So today we’re going to explore two different leadership styles, transactional and transformational. Both have their places, but if you… truly want to inspire growth and change, transformational leadership might be your style. Let’s dive in. So let’s understand these two leadership styles. Transactional leaders rely on traditional management models, giving rewards for good performance and penalties for poor performance. In contrast, transformational leaders inspire their teams by leading by example, focusing on relationship building, and encouraging individual and group growth. There is an importance of these leadership styles. Research has shown that both style have their places. So transactional leadership can be effective in established environments with clear processes, while transformational leadership tends to thrive in dynamic growth-focused environments. According to a meta-analysis by Judge and Piccolo, the transformational leadership is highly correlated with perceived effectiveness and satisfaction by supportinance, otherwise known as direct reports. And transformational leadership involves four main components. Idealized influence, role model, inspirational motivation, inspiring a shared vision, intellectual stimulation, so encouraging innovation, and individualized consideration, providing support and encouragement. These leaders foster an environment where growth and development are nurtured. So let’s adopt this transformational leadership style and spread it across our different domains. So for a body, you can lead by example in your health and fitness regime, especially if you have a family and you know that everybody in the family needs to have good health, start by leading yourself first. For being, nurture your personal growth and inspire others to do the same. A lot of times if you want others to change, you start by changing yourself. For balance, promote open and supportive relationships, leading to more balanced interactions. And for business, foster an environment of growth, innovation, and collaborative success. So now I encourage you to take 20 or 30 minutes for some self-reflection. Decide which type of leader are you going to be? How can you lead more by example? How can you develop your leadership skills to create more leaders? Visualize your journey towards becoming this transformational leader within you. Now whether you lean more towards transactional or transformational leadership, the key is to be aware of your style and its impact. If growth is your goal, then transformational leadership is the way forward. So now it’s time for the daily leverage. So where in your world, whether in your life or business, Have you been a transactional leader when you should be a transformational leader? Is it in your life with your health and body? Is it in your life with your spirituality or self-direction? Is it in your relationships with your spouse, partner, kids? Or is it in your business, finances, or team? And once you’ve located where you’ve been transactional and you wanna be transformational and you know what needs to change, my question to you is this, what are you willing and able to do about it today? That is the end of the Daily Leverage. This is Jesse P. Gilmore. You’ve been listening to Leverage for Growth podcast. If you’re enjoying these Daily Leverage and agency leverage episodes, make sure to subscribe on Apple or Spotify now.