Most of us believe we have the qualities it takes to be an effective and prosperous leader, but that’s not always true. In the most basic sense, leadership means having the courage to go in front of others and direct their paths towards an ultimate goal. In a corporate setting, the chief executive officer’s principal role is to provide leadership, to set objectives, and to allocate resources – financial and human – to meet those goals. In other words, leadership is all about people. One cannot lead unless there are followers. There are definite qualities that set leaders apart.

The Ten Qualities of a Successful Leader

1. You are able to accept correction. No person in a position of authority should be immune from being corrected. You sort out the constructive from the malicious. You learn from the constructive; you ignore the malicious.

2. You can withstand adversity. Things will not always go well and failures will happen. A good leader will bounce back.

3. You are able to delegate authority, give up power and trust those under you.

4. You make decisions. A person who cannot take a stand does not deserve to lead others.

5. You are free from prejudices.

6. You appreciate others, share the credit, and give credit where it is due. If you try to take credit for everything, you are not leading and you will only frustrate those under you.

7. You are able to concentrate under difficult conditions and to constantly keep the goal in mind. You keep your head when others are losing theirs.

8. You assume responsibility for your own mistakes.

9. You, like Robert E. Lee, take responsibility for the mistakes of your lieutenants. You do not try to avoid responsibility for the mistakes of those under you.

10. Stagnation is not leadership. You are always growing and learning.

Leaders are visionaries. They make things happen. Look at Churchill and F.D.R. – they were the right men at the right time. The ripple effects of their decisions still dramatically impact the world today.