Business owners often avoid things that would make them successful. They may be reluctant to do the necessary work; too comfortable where they are; or worried about the negative consequences.
Inc. shares the following three things owners avoid that hold them back from success.
- Delegation. Good delegation takes time and patience, which can be frustrating for business owners. As a result, rather than delegating, they dump tasks on their employees. Understand employees need support to do things well, so it is important to address the “what,” “when,” “why” and “how” when delegating.
- Financials. Many owners do not know their financial situation. They believe they make good money, but they do not check their bank accounts and customer relationship management to confirm. If a leader is intimidated by what it takes to understand the numbers of the business, he or she should get help. Meet with your accountant to go through profit and loss statements so you understand what they mean for your business and what you must do differently.
- Implementation. It is helpful to get new ideas from conferences or books, but when it comes to implementing those ideas, business owners often procrastinate or get distracted by other issues in their business. Action is important. Take the best idea you learned recently and implement it. Keep yourself accountable by giving yourself a deadline and announcing it to your team.
