Top 3 Strategy killers every leader needs to avoid
Have you ever wondered why some business fail while others succeed? Why do some leaders leave a legacy and others don’t? Here are the top 3 pitfalls that can destroy any business, no matter how successful they might be at the beginning ..
1. Arrogance
“Arrogance is a kingdom without a crown.”
American Proverb
This is the top reason for business failure across the history. When business leaders believe deeply that they know what is best and start ignoring advice from technical experts around them, it is definitely the beginning of an end to that business.
“A man’s interest in the world is only the overflow from his interest in himself.”
― Heartbreak House
Jim Collins wrote a good book, “How the Mighty Fall” where he has explained why values-based leadership is a differentiating factor between successful companies and those that fail. Collins discusses the concept of “arrogant neglect,” where arrogant leaders start neglecting advice, listening to others, and focus only on giving directions to people around them. This is the first stage of decline that Collins has identified in his book.
How common do we meet managers who don’t ask questions? And simply focus on “Listen to me, I know what is right!?” How many managers enjoy being under the spot light, not allowing their team members, and actual performers to shine? How many managers “Know it all”?
“By my count, more business leaders have failed and derailed because of arrogance than any other character flaw.”
-Harvey Mackay
2. Business Myopia
(Business Short-sight)
“We always look for everything in the immediate proximity, that is a mistake.”
―
Today, the number of leaders thinking only within their immediate proximity is increasing.. Here are some very common signs:
- Hiring people who are loyal rather than competent .. This secures them for the time being but decreases organizational capacity and overall competencies in the future.
- Ignoring bad behaviors / values under the excuse of forgiving employees, while not estimating the effect of allowing bad apples to exist on the whole group .. Why don’t you terminate bad behavior immediately? Because “Business” needs them? Wait for the upcoming sudden drop, and maybe business scandal then …
- “Lack of integrity”, and not walking the talk .. thinking that you can always run away with a lie .. wait then for the lie to be discovered and then your business and career will be history ..
- Getting rid of good performers just because they get paid higher, or because managers can’t tolerate their demanding style? Ignoring the value of their ideas to the business…
Haven’t we all met managers from the above categories?
3. Authoritarianism
One of the biggest challenges of young leaders is their ability to tolerate difference in opinions, and their degree of readiness to change course if they find that the other party has a better view or in better position to make a decision.
Tolerating difference is one of the most important attributes of future leaders in the coming years, since the world is becoming smaller every day, with a huge number of talents travelling across the world, being able to respect others’ opinions and take them into account when making a decision is very important.
Learning to delegate and hand over keys to others is going to make you more successful and not less. Remember that you hired people to do the job, .. let them do it, and don’t ask for obedience .. ask for commitment instead ..
With more and more business opening and also shutting down every day, it is very educating to watch traits and behaviors of successful and failing stories .. While we all learn and try to apply new good attribute of leadership, we will cross routes with bad examples who will also teach us something to avoid ..
Never be impressed by bad managers who succeed today .. fire is simply burning under their feet but they can’t recognize it, simply because they can’t tolerate looking down, think they are too confident, never asked others what they think or simply because they think they are indestructible … Watch and wait .. flames always go bottom up!
Written by:
Engagement Expert, International Speaker & Pragmatic researcher
