Leading is challenging enough without becoming your own worst enemy and having to deal with the potential negative fallout associated with the 10 common leadership mistakes listed below. Take a moment and ask yourself if you might fall prey to one or more of these mistakes. If so, identify some action steps that will help you avoid these potential pitfalls in the future.
I want to thank Brad Mishlove, CEO and founder of Catapult Groups, for providing our guest blog post for today. I’m confident you will find his insights to be very valuable in helping you move your business forward.
Live, Work, and Relate Well!
If you own a business, it’s time to take your blinders off so you can identify any problems that may be holding you and your business back.
As a business owner, one of the costliest mistakes you can make is not knowing your blind spots. You worked hard to grow your business, and you have faith in your product.
Surveys have shown that 75% of small business owners have an optimistic outlook toward their company’s future, but the numbers don’t bear out this enthusiasm. The truth is, 70% of small businesses will fail by the tenth year, with a full 20% failing within the first year.
What’s holding your business back?
Despite feeling optimistic in the beginning, these business owners failed to see where they were coming up short. Are you setting up roadblocks along your own path to business success? If you are guilty of any of the following, you may be:
1. Not paying attention to reviews
Ignoring customer feedback is a mistake your business can’t afford to make. The internet has made it easy for people to base their purchasing decisions upon the reviews of others. Your reviews build credibility for your business by showing consumers their money will be well-spent when they put their trust in you. Your reviews are your chance to show off your excellent customer service skills.
2. Not having a great team
Your team can make or break your business, so hiring is one area where you won’t want to cut any corners. The best
In my last blog I shared that one of the most common mistakes that can cause problems in a family-owned business is the absence of clearly defined rules, roles and responsibilities. Today we will address another major mistake that can seriously damage both your business and your family – failure to treat adult children like grown adults.
Continuing to treat the second generation as children carries heavy consequences, such as:
Good ideas and opinions may be devalued or dismissed. If “Little Johnny” was the class cut-up in junior high, it’s easy to dismiss his suggestions, even once he’s in his 20’s, 30’s or even older. Not only does this have the potential to deprive the business of creative new opportunities or methods, it also decreases Johnny’s confidence. If his input is consistently devalued, why should he try? Both Johnny and the business lose out.
Step One: Give them responsibility without authority – Many of us have had this experience: You find an item in a store that’s marked down to a sale price. The clerk scans the bar code and the regular price pops up on the screen. You point out that the item is marked with a lower price, and get “the look”. It’s the look that means, “There is nothing I can do about this. I have to go by what the register says or I get in trouble. And, before you ask, my manager is at lunch.” While you are rightfully annoyed by the snafu in your purchase, stop for a minute to put yourself in the shoes of an employee who is perfectly able to see the problem – i.e. the clearly marked sale price – and has no authority to do the right thing because the machine hasn’t been updated. There they stand, helpless, frustrated and directly in the crosshairs of your glare.
Dr. Todd is a licensed psychologist, executive coach, published author, and national conference and seminar speaker. He has been a featured expert on national and local radio talk shows and television news programs.