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4 Easy-To-Fix Mistakes You May Be Making In Your Business Right Now

Some 163 entrepreneurs shared the mistakes they’d made with this contributor; now he’s sharing how you can avoid making them yourself.

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Success comes in many forms, but the journey to get there is rarely a simple one. There are ups and downs, twists and turns, and often an ongoing struggle of trial and error before you find success – whether it be personal or professional.

There is no “one size fits all” solution, and if you were to speak to a hundred successful individuals, they would cite for you a hundred different approaches. Yet, despite this array of issues, there are trends and patterns we can all use to our advantage, including examples of how successful folk have approached mistakes and failure.

In fact, the truth is that those you admire have built a career on the backs of mistakes and failures, learning from them and progressing a little further each time. They are no different from you and me; they are not immune to obstacles. What’s different is that they use these obstacles to their advantage.

I realised this after interviewing 163 entrepreneurs for my latest book (The Successful Mistake) about how these individuals transformed past mistakes into subsequent success. They taught me that mistakes happen regardless of money, fame or fortune, and that it’s your job to turn things around (and spot these issues before they have a chance to build).

From the anecdotes my interviewees shared, I want to share four such mistakes that you may be making right now. If you happen to be making one or more of these errors – and you allow them to continue – they potentially could transform into business-threatening failures.

Related: Common Mistakes SMEs Make When Looking At Growth Opportunities

If you catch them beforehand, however, they’re all often easy to fix.

1. Don’t listen to the “yes men”

When I interviewed the New York Times best-selling author Steve Olsher (What is Your What?), he told me how he built a successful online business (Liquor.com) before the dot.com boom. Because he was in the right place at the right time, Olsher said, he enjoyed a lot of success, and had many people “beating down my door.”

Investors and “experts” alike showered him with advice and promises of this and that. But, a caveat: “They wanted to see experienced CEOs and CFOs [join his company].” So, Olsher told me, when I interviewed him: “I literally signed away my management rights to the company.”

Within a few months of signing over those rights, he – and so many others – watched as the dot.com crash disrupted their lives.

Those “yes men”? They disappeared, and Olsher realised that he was the only person who could run his business. It wasn’t that he didn’t speak enough or listen enough, but rather that he didn’t filter out the noise. The takeaway? Once you build a successful company, this “noise” will surround you. It’s your job to disregard it, and get rid of those yes men. They represent a mistake that’s easy to fix when there are just a few of them. But the more there are, the harder it gets.

2. Don’t get stuck in your own head

The flip side to Olsher’s issue of listening to others is to lose yourself in your own ideas.

Few people create greatness on their own. It takes collaboration and communication, which teenage prodigy Fraser Doherty lacked during the early days of his startup, SuperJam.

Having learned how to make tasty jam from his grandmother, young Fraser began to make it and sell it around his local community as a young teen. Word took off. Local shops wanted to stock it. Fraser quickly outgrew his operations, so he decided to go “all in” and build his brand (so he could pitch to the U.K.’s major supermarkets later that year).

The teen hired a local design agency to develop his brand, but he had his own ideas and insisted they stick to them. That’s how he lost himself in his own ideas, forgetting to involve other people in the lead-up to his big pitch. When that day arrived, things didn’t go according to plan. The supermarket chains rejected him. They said no.

Related: 5 Mistakes Millennial Entrepreneurs Make With Money

Devastated, Fraser had to pick up the pieces, soon realising that his own lack of communication had been the issue. He had lost himself in himself – an issue we all face at some point. Your job is to stop this from happening, and force yourself to involve others in the process.

3. Don’t play the blame game

blame-game

When hardship hits, it’s easy to play the blame game (by blaming either yourself or someone else).

Tech entrepreneur Brian Foley and his team of co-founders experienced this as they committed to turning their app-idea to app-reality. They spent months designing the Buddytruk app, and after positive feedback, knew their Uber-like service would prove successful.

The problem was, nobody on their team had the experience to develop the app’s framework, so they hired a programmer.This tech expert soon finished the app, but the result fell short of Foley’s and the team’s expectations.

“At first, we blamed the developer,” Foley told me, during our interview. “They didn’t a do a good job, but then as we thought about the situation more, we realised we’d never communicated what we wanted – and didn’t fully appreciate what we wanted as a business or team.”

Blame didn’t solve the problem (it rarely does) for the team members; but taking a step back, and summing responsibility for their own lack of communication, did. They soon got on the same page. They build a better app. They articulated their idea and then some; but that happy upshot occurred only after they quit playing the blame game.

4. Do not presume . . . anything!

This final mistake is possibly the most dangerous of all, because you know what you know, and it all seems so simple to you.

You build a business, perform a task, work through a process and tell yourself that the process is second nature to you. It’s easy for you, and it’s easy to presume other people will find it easy, too. Big mistake.

Podcaster and serial entrepreneur Ben Krueger found this out the hard way during the early days of Cashflow Podcasting.

Initially, Krueger told me, he found success after success, because the popularity of podcasting meant that more people needed help creating, launching and promoting their shows. He offered a high-quality and personal service, and soon had so much work that he couldn’t keep up.

That’s when he hired his first employee to ease the strain, and after showing that person how to use the successful process he had developed, he got back to work under the assumption that all was well.

Related: 6 Rookie Investor Mistakes You Must Avoid For Profitable Investing

Soon after, however, a few of his customers noticed a drop-off in quality, and his previous happy customer base grew increasingly unhappy by the week.

It wasn’t that Krueger’s new employee didn’t have the right skill set, but rather that Krueger, the founder, didn’t take the time to communicate the exact process his customers were used to (step by step).

The takeaway: As a leader, you cannot presume that those around you know what you know. What is easy for you may not be easy for them. How you work may not be how they work.

This isn’t their problem. It’s yours; it’s your job to communicate what you want, how you want it and why you want it that way – and then, show your employees/interns how to do what you want them to do.

These are just four mistakes that have the power to shake your world; and if you cannot relate to at least one of them, I’ll be amazed. So, right now, I ask you to take a step back and honestly answer:

… Am I making one of these mistakes?

If you are, don’t worry. Get back to work, turn things around and fix these issues before they grow into something much larger.

This article was originally posted here on Entrepreneur.com.

Matthew Turner is the author of The Successful Mistake: How 163 of The World's Greatest Entrepreneurs Transform Failure Into Success. To learn how you can do the same, visit successfulmistake.com/entrepreneur.

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Leading

Why Fight Or Flight Mode Can Break Your Business

Truly successful business owners are masters of their own emotions though. Because when you aren’t, things will quickly start to derail.

Yoke van Dam

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Have you ever been in a situation where a client started shouting at the staff? It could have been at a restaurant, at a car dealership or even at a doctor’s office. When people ‘lose’ it in the real world, we label them as unprofessional. We are less willing to do business with them, work for them, or invest in their business.

When your buttons get pushed for too long, it might trigger you to start fighting. The moment we feel ‘attacked’ most people tend to go into ‘Fight or Flight mode’. The Amygdala (Reptilian) brain has been accessed, and the resulting behaviour is actually beyond their control. What’s scary about this place is that you feel in the same amount of danger as someone who is about to be attacked by a predator.

This is incredibly dangerous territory for your business to be in. This is the place where staff resign, contracts get cancelled, and money gets lost.

Maya Angelou explained it well: “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

How you make them feel will impact your staff’s customer service, their productivity and ultimately your bottom line.

As a business owner and leader ask yourself the following questions:

  • Are you congruent? Is what you say, do and feel aligned? Can your staff trust you and do your actions speak for themselves?
  • Do you understand your own trigger points, and can you calm yourself down?
  • Do you pick up on the moods in the office?
  • How clearly do you communicate your ideas?
  • How do you handle conflict?
  • Does your staff feel safe in your company? Or do they know you will throw them under the bus when something goes wrong?

Related: 22 Qualities That Make A Great Leader

Simon Sinek says that a successful leader’s number one goal must be to make their staff feel safe.

It’s time to increase your EQ

EQ, or emotional intelligence, is a key factor in an effective leadership style. To increase your emotional intelligence, start with these steps:

  • Get enough sleep, exercise and notice your blood sugar levels.
  • Many people will snap if they are dehydrated, tired
  • or hungry.
  • Set meetings around lunch times, allow yourself to have time to eat and pack healthy meals and snacks for yourself. Your body needs the right fuel to keep going.
  • Exercise releases dopamine that will naturally make you feel happier and more energised.
  • Make sure that your staff take lunch breaks and have time to eat.

Practice mindfulness and journal

Find time in the morning to do your ‘morning pages’. In Julia Cameron’s The Artist’s Way she explains how writing morning pages helped lawyers, doctors and screenplay writers to focus and find their creativity and drive again. I have noticed my own emotional states, patterns and triggers come out of my morning pages and this has helped me with my self-awareness tremendously. By cleaning out your thoughts on a page, you feel much calmer because you have decluttered your own thoughts. You’re now in charge and ready for the day.

Visualise

Find a quiet spot to visualise what you want to get out of the day. Use all of your senses to create the perfect movie of your day, with all the colours, textures, sounds, smells and tastes that can make it real. Imagine yourself being calm, listening well, and being a great leader. Notice your body language in your visualisation, how you are sitting or standing, and even the way your neck curves. I often use this technique for public speaking.

Swimmers in the Olympics use visualisation to train themselves for their big race and find that they swim the race with 90% accuracy in the time they swam it in their minds.

Get coaching

Notice if people are walking on eggshells around you. You may have many unresolved issues or triggers that some neuro-linguistic programming (NLP) or personal development coaching can help dissolve.

Related: Sorbet’s Ian Fuhr: Servant Leadership Personified

 


How can you help others when they have entered fight or flight mode?

Pay attention to your body language, tone and choice of words. When we communicate, 55% is conveyed through our body language, 38% through our voice and tone and only 7% through what we say.

When someone is in ‘fight or flight mode’ make sure all the elements communicate: ‘I am your friend’, ‘you are safe here’ to the other party.

  • Body language: Show open palms — this means ‘I come in peace’.
  • Smile, lean forward, show your ear.
  • Tone: Have a calm friendly tone in your voice. Stay away from sounding snappy, angry or sarcastic. This will make a person even angrier.
  • Word choices: Our minds cannot hear the word ‘Not’. Use words that focus on the outcome that you want, rather than what you don’t want.
  • Say something like: It looks like you are not so happy right now.  If you said to them: ‘I can see you are frustrated and upset’ you are entrenching their unhappiness. Can you hear the difference between ‘unhappy, not calm’ versus ‘frustrated’ or ‘upset’.
  • Be solution orientated: ‘How can we resolve this situation? How can I support you, and how can we fix this?’

Stop assuming and ask questions

Don’t assume what a person is feeling. Ask them using open-ended questions. Make it clear that you are open to feedback and want to learn.

‘Please would you mind telling me what was said, or done that you didn’t like?’

Listen

Focus entirely on the person, their body language, their facial expressions, their tone of voice and what they are really saying.  Clear your mind from your own thoughts or agenda and focus just on them. Allow a breather or a space after they’ve spoken so you can make sure they have finished speaking. Most people respond to only the first thought of a sentence, never fully listening to what the real message is behind the words.

Cut out distractions: Hide your phone — from yourself and from others.

Communication experts Celeste Headlee and Simon Sinek both say that you should hide your cell phone in a meeting. The research shows that a person will trust you less if they see your cell phone on the table, even if you’re not looking at it.

Related: 15 Of South Africa’s Business Leaders’ Best Advice For Your Business

Empathise, don’t sympathise

Put yourself in the shoes of your client or staff. Try to understand what they are going through.  When relating to your staff or a client, it’s crucial to anchor yourself in a positive place, in order not to be pulled down by them.

Offer an outside perspective, but hand them a rope or a ladder to get out themselves; offer them the support and encouragement to get to safety.

Show them the bigger picture

Explain to your team how their puzzle piece fits into the bigger picture. Once we know that the work we do has a greater purpose, and we buy into that purpose, we will do almost anything to support our company to get that outcome. Let them buy into your vision and let them surprise you.

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Why Inspiration Alone Is Not Enough To Be An Inspiring Leader

Strong leaders unlock higher performance by empowering people.

Tiaan Moolman and Eric Garton

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Inspirational Leadership

When employees aren’t just engaged, but inspired, that’s when organisations see real breakthroughs. Inspired employees are themselves far more productive and, in turn, inspire those around them to strive for greater heights.

Our research shows that while anyone can become an inspiring leader (they’re made, not born), in most companies, there are far too few of them. In employer surveys that we conducted with the Economist Intelligence Unit, we found that less than half of respondents said they agree or strongly agree that their leaders were inspiring or were unlocking motivation in employees. Even fewer felt that their leaders fostered engagement or commitment and modelled the culture and values of the corporation.

To understand what makes a leader inspirational, Bain & Company launched a new research programme, starting with a survey of 2 000 people. What we found surprised us. It turns out that inspiration alone is not enough. Just as leaders who deliver only performance may do so at a cost that the organisation is unwilling to bear, those who focus only on inspiration may find that they motivate the troops but are undermined by mediocre outcomes. Instead, inspiring leaders are those who use their unique combination of strengths to motivate individuals and teams to take on bold missions — and hold them accountable for results. And they unlock higher performance through empowerment, not command and control.

Related: 22 Qualities That Make A Great Leader

Here are some of our additional findings about how leaders both inspire, and get, great performance.

You only need one truly ‘inspiring’ attribute

We asked survey recipients what inspired them about their colleagues. This gave us a list of 33 traits that help leaders in four areas: Developing inner resources, connecting with others, setting the tone and leading the team:

  • Stress tolerance, self-regard and optimism help leaders develop inner resources
  • Vitality, humility and empathy help leaders connect
  • Openness, unselfishness and responsibility help set the tone
  • Vision, focus, servanthood and sponsorship help them lead.

We found that people who inspire are incredibly diverse, which underscores the need to find inspirational leaders that are right for motivating your organisation — there is no universal archetype. A corollary of this finding is that anyone can become an inspirational leader by focusing on his or her strengths.

Although we found that many different attributes help leaders inspire people, we also found that you need only one of them to double your chances of being an inspirational leader. Specifically, ranking in the top 10% in your peer group on just one attribute nearly doubles your chance of being seen as inspirational. However, there is one trait that our respondents indicated matters more than any other: Centeredness. This is a state of mindfulness that enables leaders to remain calm under stress, empathise, listen deeply and remain present.

Your key strength has to match how your organisation creates value

Effective leadership isn’t generic. To achieve great performance, companies need a leadership profile that reflects their unique context, strategy, business model and culture — the company’s unique behavioural signature. To win in the market, every company must emphasise the specific capabilities that make it better than the competition.

We found that the same is true of leaders: They must be spiky, not well-rounded, and those ‘spikes’ must be relevant to the way that the company creates value. For example, an organisation that makes its money out-marketing the competition isn’t likely to be inspired by a leader whose best talent is cost management. Spiky leaders achieve great performance by obsessing about the specific capabilities that underpin their company’s competitive advantage. They make sure those capabilities get an outsized, unfair share of resources and provide the key players the freedom they need to continue to excel.

Related: 15 Of South Africa’s Business Leaders’ Best Advice For Your Business

You have to behave differently if you want your employees to do so

Even with a clear idea of your company’s winning behavioural signature, leaders need to develop new ways of operating. We found that leaders who both inspire people and generate results find ways to constructively disrupt established behaviours to help employees break out of culture-weakening routines.

Inspirational leaders recognise the need to pick their moments carefully to reinforce a performance culture in a way that can also be inspiring. These are real moments of leadership and truth. Two of our favourite, classic examples include:

  • When Howard Schultz returned to Starbucks as CEO after a nearly eight-year hiatus, he realised that Starbucks’ unique customer-focused coffee experience was now in the back seat. In the front seat were automation and diversification, both implemented in pursuit of throughput and growth. Schultz took swift action to change the company’s direction; he even shut down 7 100 US stores for three hours on 26 February 2008 to retrain the baristas in the art of making espresso. In this highly symbolic move, he left no doubt about his intentions — and about what he thought it would take to make Starbucks great again.
  • When Alan Mulally came to Ford in 2006 to help turn around the business, he took bold actions to change the way the company operated. In one highly visible moment, he applauded Mark Fields (who would eventually become his successor) for admitting to a failure in an executive meeting. That was pretty much unheard of at Ford and it set the tone for the open and honest communications required for a new culture at the company.

While these are only single actions by leaders who are famous for producing both performance and inspiration, they provide a window into what inspirational leadership looks like.

Drawing insight from Eastern philosophy, one of our clients once said, “If you want to change the way of being, you have to change the way of doing.” This struck us as profound in the moment and even more profound over time — and the sentiment matches what we learnt in our research. Leaders can only change by doing things differently. The more often they behave in a new way, the sooner they become a new type of leader, an inspirational leader. We know that individual inspiration is the gateway to employee discretionary energy, and that, in turn, is critical to making the most of your scarcest resource — your human capital.


Leaders driving economic value

To win in the market, every company must emphasise the specific capabilities that make it better than the competition.

We found that the same is true of leaders: They must be spiky, not well-rounded, and those ‘spikes’ must be relevant to the way that the company creates value.

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4 Mistakes You’re Making That Can Jeopardise Your Reputation

Remember, your reputation precedes you.

Stacey Hanke

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personal-reputation

We take our careers very seriously. We pour a great deal of energy into cultivating relationships and growing a network of professionals we either work with or hope to. We spend countless hours combing through our online resumes and LinkedIn profiles, carefully ensuring they convey the utmost professionalism. We want to be taken seriously and be considered credible and influential at work. We look the part, practice our presentations, fine-tune our communication skills and polish our presence online and in person.

But, what happens when we are off the clock? How is our behaviour when we are at a restaurant with friends, on vacation with family or simply out of the office? How many times have we run a personal errand and bumped into someone unexpectedly?

Our reputation is built on us – both in and out of the office, in person and online. Professionals often forget that credibility is built on consistency; we can only be consistent in our behaviour when we are mindful every day and in every circumstance. Professionals too often become lazy when the spotlight is turned off. We don’t realise that people are watching. Employees, customers, prospects and peers are everywhere.

Here are four common mistakes professionals make, which call their reputation into question:

1. Social media socialises the real you

Facebook, Instagram, Twitter and more – these online social media platforms create a way for us to communicate with those we are connected to. We fail to realise that our reach doesn’t stop there. These mediums also communicate to the entire world who we are. Just because we sit behind a screen doesn’t mean we aren’t seen.

A 2017 study found that 70 percent of employers use social media to review potential candidates. This number has increased 11 percent in the past 10 years, proving now more than ever that professionals who wish to manage their reputation must be mindful of what they post.

Related: The Importance Of Business Reputation

Political commentary, strong opinions, excessive personal information and activities may cast our reputation in a negative light. Even when we have the best intentions, posts and comments can be easily misconstrued. If there is any doubt, don’t post it. Posts should be informative, educational or inspiring. If they fail to convey a message kindly, refrain from sharing them altogether.

2. Personal time is just professional time off the clock

We all deserve to let our hair down when we step out of the office. We must remember, however, someone is always watching and that we must protect our professional reputation. Behavior that causes others to question our authenticity can jeopardize our professional reputation. For instance, loud and rowdy behavior with friends during happy hour doesn’t convey professionalism but may leave others wondering who we are.

Credibility is built on consistency. When your behaviour is consistent in and out of the office, people will trust that is the real you. We’ve all heard the old saying, “It’s a small world.” It feels even smaller the moment we are anything but our best self and we run into someone we wish to impress. Be mindful and know that everyone is everywhere.

3. You’re in the spotlight even when you’re not on stage

Communication begins before you step on stage. Others determine who you are based on collective experiences and interactions with you when you aren’t in the spotlight. How you communicate in the office and in casual conversations is what will shape your reputation, not the moments you step on stage. How you behave and interact with peers determines your level of influence and the trust they have in you as a professional.

Did you know 92 percent of people act upon the recommendation of others – even if they don’t know them? People talk, and others listen. How you treat your employees is how they will treat your customers. If you fail to communicate with consistency, those you influence will fail to do so, too. Be clear and concise in all communications – whether it’s a high-stakes meeting or a casual hallway conversation. Focus on your body language and be an active, intentional listener. When you make others a priority, they will do the same for you and those who matter most to your success.

Related: Richard Branson on Building a Strong Reputation

4. It’s not a brand management campaign; it’s a way of life

Our modern-day world doesn’t allow us to compartmentalise our lives. In today’s age of online observation, our reputations are broadcast for the world to see, which directly affects our bottom line. Consider some highly regarded corporate names. It’s likely their reputations are well managed. They are consistent in their messaging and delivery. They walk their talk throughout all aspects of their brand: from online profiles to customer-facing employees. Now consider companies that have struggled with their reputation. They have likely suffered from inconsistencies in their customer experience, marketing campaign, executive behaviour and employee interactions.

Individual professional reputations are no different than major corporations. In fact, they are one of the most significant concerns major companies face. In a survey of executives, 87 percent said the risk to their reputation was a higher priority to their bottom line, more so than any other strategic danger their company faced.

Fact is, professionals cannot manage their reputation through a one-time branding campaign. We must develop it through consistent behaviours that create trust in those who know and observe us. We can’t just say something is important; our actions must reflect it. We can’t tell employees to invest time and energy in customers but then fail to do the same for them. Reputations aren’t built on a “do what I say, not as I do” mentality. Consistency is key to credibility.

This article was originally posted here on Entrepreneur.com.

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