Sabotage Your Business in Ten Easy Steps

The nice thing about cars is they’re predictable. Every model has its own quirks that tend to act up like clockwork, and any mechanic worth his salt can tell you what to look for.  I remember my 1987 Honda Accord (an otherwise exceptional vehicle) had a body joint below each tail light that, as if on cue, rusted out… right along with every other 1987 Honda Accord in the exact same spot. It’s the same with businesses.  Businesses tend to have very common cracks and crevices that expand and contract as the business ages, acquires and loses experienced people, or as too little attention is paid.  Knowing what to look for and being prepared to counteract the cracks before they become seriously rusty is a hallmark of a good leader and profitable business person.  Below, I review 10 of the most common cracks that, if left untreated, tend to lead to an unprofitable demise. #1 – Lack of Accountability Lack of accountability spreads like a malignant tumor throughout an organization: quietly and surely, if allowed. The symptoms are even more subtle than, “I can’t hold my people responsible for anything.” In organizations that lack a culture of accountability, it’s often unclear who is responsible for what objective or initiative, unclear what the necessary outcome is, and often unclear what the implications of failure are. Accountable organizations are skilled at negotiating these building blocks and putting them in place so staff knows what is required and can “count” on one another. #2 – Lack of Vision, Mission, and Values I had a dream that the GPS unit in my car had no idea where it was taking me. That’s a bit like a business with no vision, and therefore no clearly defined future goal in mind. What are you aiming for?  As for your mission, what is it that you do, and for whom, in order to get to that goal? As for values, why do you do it and what do you stand for? So many businesses just “are” but aren’t “becoming” anything. #3 – Poor Strategic and Tactical Planning Knowing where you’re going is one thing, but crafting a plan to get there is another. There is no substitute for a good strategic plan or business plan, and that also includes market planning, sales planning, staff planning, and budgeting. Quite commonly, the approach to one or more of these critical plans is simply to "make it up as we go along." #4 – Fractured Decision-Making Balance the coin on edge and look at both sides. On the one side, you have simple lack of decision making. It comes from analysis paralysis and fear, from organizational structures that don’t share authority, and very often from unclear vision, mission, and values. On the other side, you have decisions that get made but not carried out. The new product launch that never quite gets developed.  The employee that never quite gets let go.  The act of making a decision without living it out is one of the best ways to sabotage success. #5 – Not Focused on Critical Factors for Success Knowing where you’re going is one thing, but being able to measure progress along the way is golden. Too many businesses get caught up in dozens of initiatives without measuring against critical factors – tangible measures of whether they’re making progress toward end goals. Measures like business development volume, customer service quality, productivity, and yes, revenue. #6 – Ineffective Performance Management In accountable organizations, not only is it clear who has ownership for tasks and initiatives, but performance is checked regularly and routinely.  Meetings are crisp, action-oriented, check for successful results, and assign new action for the future.  Organizations lacking performance management often complain that they set the same goals over and over again, or that they come up with really great ideas but often fail to achieve them. #7 – “Do-ers,” not Leaders Many people get into business because they’re good at something.  The problem comes when they don’t step out of what they’re good at and run the business. There’s a radical difference between doing work and leading a business and shaping its future. Working extended hours, failure to delegate, filling in for missing skills of others, and constantly getting caught up in day-to-day tasks is a sure sign of an owner who is doing, not leading. #8 – Failure to Develop Future Leaders So you’re going to turn your business over to your kids one day. Have you actually asked if they want it? Succession planning is neither instant nor a one-way activity. It begins with the future leader, building in them the skills and – often more importantly – the stature to handle the job.  It’s important to begin building leadership skills early and often. This goes beyond succession planning, too. People get sick, go on vacation, take sabbaticals, and the like. Building the breadth and depth of your leadership bench reaps you returns both in ability to handle the unexpected as well as creating the sense of ownership business owner dream for their staff to have. #9 – Lack of Trust, Cooperation, and Teamwork Are there terrorists in your business?  People who hold information hostage and won’t share? Or simply people who don’t trust or understand one another?  From strong personalities, to organizational confusion, the causes are many. Regardless, lack of trust, cooperation, and teamwork is deadly and must be addressed. #10 – Confusion in Duties and Organizational Structure If you look around and see turf wars brewing, a squabble over duties and reporting structure is the likely culprit.  In a word, power.  This also shows up as reduced productivity and, yes, lack of trust, cooperation, and teamwork. Don’t Be a Saboteur – Self Assess Stop being a do-er for just a minute, put on your leader’s hat, and take a good honest look at your business in light of the ten points above.  How many of them do you see? One or two – You’re probably in good shape.  Monitor closely and think about how to mend. Three or four – The crack is widening.  Right now, turn your attention to how to close the gaps. Five to Seven – This is critical.  Prioritize the most serious, take action, and seek help. Eight to Ten – Red Alert.  Seek help immediately to implement a turnaround action plan. Keep an eye out for the patterns and work to counteract them.  It will be the hallmark of your leadership. 2008-08-06T04:56:13Z

2008-08-07T16:01:04Z

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sabotage-your-business-in-ten-easy-steps

2008-08-07T16:00:54Z

Learn from the pitfalls of others. Review this hit list of common challenges and see how many you recognize in your own business, then devise your action plan for future progress.

Sabotage Your Business in Ten Easy Steps

2009-02-24T09:45:24Z