MN Business Tip Of The Day: Know What Not To Do

January 29, 2014  |  

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For an entrepreneur knowing what to do is just as important as knowing what not to do. These four things are sure ways of guaranteeing failure in your business. Avoid them at all cost:

Inability to organize details. In order to manage anything effectively you need to be able to organize and master details. As the leader of your business, you can never be “too busy” to do anything which requires putting the little things in place. Naturally you can’t do everything, so learning to manage details includes the ability to delegate to capable employees. If you’re still a solo operation, be sure to keep yourself as effectively organized as you can. Don’t just look at the big picture. A business is built into a large empire through the correct placement of each seemingly insignificant brick.

Unwillingness to render humble service. Even the greatest leaders must be willing, on occasion, to perform the most menial of jobs. If you would ask someone else to perform the task, then you should have no problem doing it should the need arise. You are never too good for your business.

Fear of competition from followers. To be an effective entrepreneur you cannot be afraid to properly train employees for fear of their leaving and taking that knowledge elsewhere. Improper training naturally leads to an incompetent business model, which I am sure you don’t want. Although it can be nerve-wracking you must be willing to multiply yourself in order to be sure your customers are getting the same level of great service as you envision.

Emphasizing your authority. Because it is better to lead through encouragement and motivation, you definitely want to avoid trying to intimidate your employees. Impressing your employees with your “authority” comes under the category of leadership through force. The way you conduct yourself should be enough to garner the respect of those following your vision.

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