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TheStreet Open House

Best Business Lessons From George Washington

NEW YORK (MainStreet) -- As we celebrate President's Day, it makes sense to look back in history to find one of the best examples of a great leader -- George Washington, our nation's first president.

Washington would have celebrated his 280th birthday on Wednesday. His contributions, first as the commander-in-chief to free America from Britain's grip in the American Revolutionary War and then as our nation's first president, are numerous and immeasurable. The U.S. would not be what it is today without his strong sense of morality and general instinct to do what was right for the country, as opposed to inflating his own ego.

Washington's lessons can be translated to the business world as well. In the fourth installment of advice from the greats, the national hero joins a growing group of legends -- Apple's (AAPL) Steve Jobs, Warren Buffet and Joe Paterno.

Here are three lessons Washington can offer the business world:

1. Lead by example.
"What's really interesting about [Washington] as a leader is he led by example. He participated in what was being accomplished [by] not sitting by the sidelines," says Karen Russo, president of IIPE Executive Research .

Employees need a role model in an organization, someone who sets standards and expectations for others to follow, Russo says.

Leading by example also generates respect. If a business owner or CEO is too casual, unfocused or generally unproductive, subordinates will emulate those qualities. "Leading by example is really setting the stage for what the tone of the organization is going to be," she says.

Leading by example also gives business owners a better sense of what can be accomplished by employees. It does no one good, least of all the overall company, when goals are set so lofty that they are unattainable.

"For me as a business owner, I take the time to work on my business as well as work in my business," Russo says, meaning the more she understands about how employees go about tasks, the better she can assess problems and make changes as needed.

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