What Keeps Small Businesses Away From Success?

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jtpedersen-successEarlier today I came across an article discussing key assumptions keeping businesses away from greater success.  There are a number of key points made, such as:

 

 

  • Everyone needs my product or service;
  • I can’t spend time working ON my business;
  • I can’t afford to spend money, train my employees, etc. ;
  • My business is unique.

While all the points discussed may be common, there’s room for yet one more.  In my experience, and others I talk with, by far the most common complaints are founder(s) that know ‘everything’ and refuse to let their staff do their jobs.

I know of more than one CEO for a startup that complained the company’s chairman, founder, or board (the original ‘entrepreneurs’) effectively handcuffed them.

Typical example, an entrepreneur hires a CEO to do business development.  Yet, the CEO finds him or herself unable to do what they were hired to do because the entrepreneur ‘knows better’ how to conduct business, routinely overruling their team.  In such a case, the entrepreneur effectively has hired very expensive administrative team.  This story repeats itself regularly.

Each of us have different strengths with different levels of capability.  At some point, as a business evolves, it will grow in areas outstripping the founder(s) abilities.  When the time comes, a business’ founder(s) need to hire, and trust, professionals with the skills needed to enable the business’ ongoing growth.

Otherwise it may simply be more cost effective to hire temporary staff capable of carrying out administrative chores.

(Photo credit: Arte Ram)