Every business needs great leaders, whether they are at the top of the food chain or the bottom. This is especially true at a small business, where a lack of quality management and teamwork can cripple the operation and its financial plan.

That being said, small business owners should always find a way to step up to the challenge and set a great example for the remainder of their staff. Not doing so can be one of the biggest mistakes around. However, there are easy strategies to go about this – and harder ones. Tapping into the qualities that comprise exceptional leaders will motivate and inspire employees, and the end result will be a more efficient, productive company.

In order to get that process underway, here are five methods to become the best boss possible:

1. Create a fair compensation plan
Sure, a small business' financial plan may be tight, but that doesn't mean the employees shouldn't receive fair pay. This goes for the head of the company as well. While a number of factors can inspire motivation and drive out of workers, it is money that gets people looking for a job in the first place. With that in mind, it is wise to dip into the business banking account and ensure that everyone is compensated. According to CBS MoneyWatch, any funds lost by doing this will be recouped thanks to the increase in performance.

2. Provide the tools to get the job done
Employees aren't miracle workers. CBS MoneyWatch noted that in some cases, bosses expect their staff to figure it all out on their own, without being placed in a situation that encourages success. This can have disastrous effects. Instead, ensure that upper management has what it needs to stay off the backs of employees, and those mired in the day-to-day grind are presented whatever resources are required to continue producing on schedule.

3. Delegate in a proper manner
In all fairness, bosses don't always want to do the unenviable tasks. But, this doesn't mean pawning them off on subordinates is acceptable. The news source recommended responsible delegation. People should be required to perform their duties based on their job descriptions, not go above and beyond because they were forced to. Instead, hold people accountable and don't sit back and expect everyone else to pick up the slack. Hopefully, the end result is professional growth and a more stable financial plan.

4. Promote a diverse workforce
One of the worst things a small business could do is hire people who all think the same. Diversifying the workforce, or bringing in people with opposing viewpoints, can be extremely beneficial. According to Inc. magazine, poor bosses create a staff that thinks in the same way. This can hamper creativity, and prevent discourse when there should be plenty of it. Bad leaders tend to push growth on a company by setting deadlines and quotas. This usually backfires, and a better strategy is to let a unique collection of workers find their own way forward.

5. Cater to a family-friendly crowd
Is family a distraction? If the answer is yes, that could be a sign of a poor boss. Inc. magazine stressed the importance of family and community. A small business that understands this concept is more likely to succeed. Offer perks, such as on-site child care, and allow parents to work from home when appropriate to help look after their children. Better yet, provide a comprehensive maternity and paternity leave plan. The more connected workers are with their loved ones, the easier it will be for them to stay on track and get the job done at work each day.