Three Reasons Why Being an Entrepreneur is Killing Your Business
By Michael Gunther –Starting your own business is no small feat. You spent countless hours dreaming about your new business, then many more on research, marketing, finding funding sources, and perfecting your product or service. You made it: you launched, you survived your first year, and you now have a burgeoning team to help your business grow even more.Now—change everything you thought that you knew about running a business and recognize that you must change as your business grows. The entrepreneurial spirit, which helped you to launch a business, must evolve when you are the leader of a company seeking breakthrough performance. Here are the top three reasons why being an entrepreneur is killing your business.
1. You’re tripping over your ego.
It’s time to become a collaborative leader and learn to manage and lead your team effectively. Shift your thinking from “me” to “we.” Remember that it’s no longer about you, but your business, team, valued customers, and clients. Your job is to teach your team to be good problem solvers instead of you solving every problem.
2. You’re “chasing sexy.”
There, out of the corner of your eye, is another idea. You’re feeling the thrill of another startup, one that is more enticing than your current business and could possibly be even more successful. Or you have all of these ideas on new products or services to achieve your business goals, yet your current business probably isn’t operating as effectively or profitability as it could. The reality? “Sexy” probably isn’t around the corner. Focus on the here and now to nurture your company so it becomes what you always envisioned while making it more profitable and sustainable. You know the old adage: the grass isn’t always greener.
3. You distrust trust.
This company was made on your blood, sweat, and tears. How can you put it in the hands of an employee who may not love it as much as you do? You, however, have to learn to hand-off some responsibilities; it’s time to learn to trust the people you hand-picked to grow your business. Not only will trust inspire and motivate your employees, but also it will allow you to get out of the weeds and to trust your team.Bottom Line: To achieve your next breakthrough opportunity, it’s time for you to change your way of leading and thinking to ensure the scalability, success, and sustainability of your company in the long run. Businesses usually stall, not because of lack of opportunity, but because the entrepreneur hasn’t shifted their style of leadership from one of controlling every decision to one of being a coach developing strong players.
Michael Gunther is the President of the Golden Gate Business Association and leads Collaboration Business Consulting, which is a team of highly skilled business professionals who are dedicated to assisting proactive individuals to build scalable, profitable businesses. For more information: https://collaboration-llc.com/michael-gunther/