21 September 2022

These are bad entrepreneurial skills that keep your business from taking off

It takes collective talent and effort to achieve business success. But most of the time, success is credited to the ones who are in the driver’s seat, and there’s good reason for it — most decisions that shape the triumph or demise of a business are made by owners and managers. They set the path that a business will take in order to achieve its goals, and its team members can only do their best to perform their responsibilities and contribute to its success.

These ‘decisions’ are not just limited to business affairs. Even personality traits and work behaviours can affect how a business owner communicates his or her goals and relates to team members. As a Business coach, I’ve noticed that some leaders, regardless of past experience, are unfit to run a modern-day business venture, not necessarily because of skill and expertise or the lack thereof. Some leaders just don’t have the right mentality to lead their people and drive them to success.

Motivating team members to align efforts and goals

A good leader drives his employees beyond their job descriptions and understands how that influence could maximise business growth. It should be the leader’s goal to discover the full potential of each member of the team. And because everything around us is evolving, so are we. Each team member requires a different need for him or her to be motivated. When a leader refuses to learn what makes his employees tick, he ultimately fails as a leader, and that could impact the business in both the short-term and long-term.

Reluctance to accept different opinions

Businesses thrive on collaborative efforts of mind and action. Gone are the days when team members are mere robots that only do what they’re told to do. Today, the most successful ideas and ventures are advanced because people work as teams. Any head of business who denies his employees the opportunity to contribute or make themselves useful is bound to fail as a leader.

Not enough clarity on the personal and business ‘why’

Most businesses have a clear idea of what they are and what they offer and to who they want to offer it. The competition is strong and there are a million ways to market your company, so the real advantage is when your business is able to explicitly define its identity.

When working as a Business Coach for my clients, I always stress the importance of needing to concentrate on making sure they know exactly what they’re working to achieve. Some leaders tend to have too many goals and action plans that they end up lost somewhere along the line, which causes their business to either get left behind or become irrelevant.

Lack of innovation and risk-taking

Business owners cannot afford to be drowned into an ocean of imitators; instead one needs to be an innovator. When leaders become too self-satisfied and refuse to strengthen corporate culture and build competitive advantages and growth opportunities, they lose the chance to make the most out of being a leader. Nowadays, we always hear about businesses not making it far because they kept themselves from evolving and just settled with whatever is currently working. It’s the leader’s responsibility to keep the business alive and evolving, even when everything is ‘working fine’.

Our Cycle of Business Success Workshops are game-changers for business owners. They love what they see, and it completely fires them up. You’ve got nothing to lose by coming along to these free events and everything to gain. Why wait? Don’t put off until tomorrow what you absolutely know you should do today. I’ve helped thousands of business owners to build and grow their businesses – and they’ve never looked back.

Free to attend but with limited places! Upcoming event:

  • Thursday 6th October 2022 – Mickleover Hotel Derby


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