Leadership Lessons to Support Business Growth

Growing a small business is an exciting journey—but it’s not without its challenges. One of the biggest hurdles business owners faces is maintaining a strong company culture and keeping their team aligned as the business scales.

The Institute of Chartered Accountants in England and Wales (ICAEW) recently highlighted some powerful insights in their article, Five Leadership Lessons for a Growth Mindset, featuring Rachel Nutt, senior partner at MHA. While MHA is now a £200 million business, the leadership lessons shared are highly relevant for small and medium-sized businesses looking to grow sustainably.

At EOACC, we’ve supported many business owners through periods of growth, and we believe these leadership lessons can make a real difference. Here’s how you can apply them to scale your business while staying true to your values.

1. Live and Breathe Your Business Values

Your core business values are the foundation of your company culture. As you grow and bring in new team members, there’s a risk these values may fade into the background. It’s essential to keep them front and centre, guiding decisions at every level.

For example, if a top performer isn’t aligned with your team’s values—perhaps they deliver great results but create a toxic work environment—it’s important to address that. Rewarding only financial performance can harm morale. True growth happens when you celebrate those who succeed while contributing positively to your team culture.

2. Turn Big Goals into Achievable Milestones

Ambition drives growth, but if goals seem out of reach, it can demotivate your team. Break your long-term business goals into smaller, manageable steps. Show how each milestone builds toward the bigger picture.

Highlighting past wins and showing consistent progress keeps your team motivated and focused. It also builds confidence that the business is on the right path.

3. Create a Culture That Embraces Mistakes

In a high-growth environment, the ability to adapt and innovate is key. But when employees are afraid of making mistakes, they often avoid taking the very risks that lead to innovation.

Encourage a workplace culture where mistakes are seen as learning opportunities. Share your own lessons learned as a leader and support your team in trying new things—even if it doesn’t always go to plan. This mindset drives creative problem-solving and keeps your business competitive.

4. Know When to Make Difficult Staffing Decisions

Not every team member will thrive in a growing business. As roles evolve, some individuals may struggle to keep up or no longer align with your business vision. Recognising this early and having honest conversations is crucial.

Letting go of someone who isn’t the right fit is hard, but avoiding the issue can damage team morale and hold your business back. When handled with fairness and empathy, these decisions can strengthen your team in the long run.

5. Lead with Authenticity

Effective leaders don’t follow a script—they lead with authenticity and purpose. Being approachable, honest, and true to your personality builds trust and inspires others to do the same.

Authentic leadership also creates space for diverse voices and ideas, which can fuel innovation and bring fresh perspectives to your business strategy. Embrace what makes your leadership style unique and encourage your team to do the same.

Final Thoughts on Growing Your Business

As your business grows, your leadership approach becomes even more important. Reinforcing your values, setting clear and realistic goals, promoting a culture of learning, making strategic team decisions, and leading with authenticity can help you scale effectively while maintaining a strong, motivated team.

At EOACC, we specialise in helping small businesses thrive. Whether you’re just starting out or preparing for your next stage of growth, our expert team is here to guide you every step of the way.

Want practical strategies to take your business to the next level? Ask us for our “57 Ways to Grow Your Business” guide—packed with ideas to increase profitability and strengthen your market position.Interested in learning more? Check out the full ICAEW article here: Five Leadership Lessons for a Growth Mindset