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Business Failure is Leadership Failure

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👉According to Forbes, businesses don’t fail, leaders do. This simply means that a failed business is a result of a failed leadership. Are you on this table?

 

It comes through a lot of ways: it could be through leaders who refuse to grow or innovate, leaders with pride, leaders who have no relationship with employees or low rank workers. A lot of people think leadership is “I command and others do” relationship. The minute you adopt this approach to your business you’re bound to fail.

 

As a business owner you must be at the front to get the job done. Motivating your employees is not enough, make sure they see you do what you want them to do. Action would always speak louder than words. The truth is that more often than not people judge you by what you do not what you say. ‘Talk’ is cheap, anyone can afford to say anything.

 

👉 Leadership is people’s business, you must have heard this before. So it is people who make leaders, the minute you forget that and start treating your people anyhow you will soon be out of business.

Carry your crew along. You will earn their respect and trust.

Welcome diverse opinions even if you don’t agree with them. This would make them trust you enough to give you their honest opinion and assessment of your business.

 

Leadership is work, don’t just be in your office, go to the field. If top executives of Nokia Corporation had gone to the field, they would have noticed early that Apple had come up with an iOS that was way faster than theirs. Maybe they would have done something or employed Engineers to be top executives. All top executives of Apple are all Engineers, no time for mediocrity. 👌

 

The junior workers at Nokia who found out were afraid of speaking to the top executives because they had no relationship with them. Consequently the company was bleeding. The top executives when they found out were more interested in meeting up with sales and that didn’t happen? How could it, when a smarter competitor was in the market. Eventually the loss hit them and in 2013 the company was sold to Microsoft. Businesses don’t just fail; leaders do. Mind the type of leader you want to be in your business. Feel free to narrow this down to your family.

 

Have you got your copy of this book?

“21 Businesses to start with Zero, Little and Medium Capital: The Power of Entrepreneurship”

Follow this link to get it on Amazon. http://amazon.com/author/lilianohanedozi

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