His run on “American Idol” may be over, but Simon Cowell is still a super successful entrepreneur, thanks in part to these five traits: 

1. Always provide concise, honest feedback: Even if employees’ feelings are hurt by constructive criticism, you’re helping them more long-term by being honest than by holding back and watching them fail. On top of which, they’ll respect you more because they know they can trust you to be honest.
2. Be specific and offer one area for employees to focus on: Reviews and coaching sessions are great opportunities to build rapport and provide tangible goals. But don’t overload employees by giving them a laundry list of areas for improvement. They’ll feel overwhelmed and chances are they won’t focus on the one area that could help them most. Help them overcome one obstacle at a time, then build on that success and slowly move on to the next opportunity for improvement.
3. Strive to be respected, not loved: In business it’s easy to play the nice guy and win employees’ affection. But it won’t make you effective, and it actually works to your detriment in situations that demand a firm response. Being an effective manager isn’t about being popular, it’s about getting results.
4. Don’t set people up to fail: No matter how much you like someone in the interview, if he/she doesn’t have the tools to do the job, don’t make a hiring decision based on sympathy. Personality may get you far in life, but you need the right tools to be successful in any job. As a recruiter, hire with your head, not your heart.
5. Never be complacent: Simon Cowell started in the mail room, quite literally. But he used the opportunity to learn the music business and eventually started his own record label. The contacts he made and success he had eventually led to him become the prime judge on American Idol. While that might’ve seemed like the gig of a lifetime, Cowell decided to leave while the show was still on top. Now he’s moving on to focus on “The X Factor”, which has all the earmarks of another British import with the potential to rule the ratings. Cowell has never slowed down, nor has he stopped looking for the next great gig. That’s not only helped him find his way to the top of the record business, it’s also made him an international TV star.

Based in part on “Simon Cowell’s Managerial Legacy,” by Dan McGinn, Harvard Business Review, 5/27/10.