One of the most frustrating and disheartening things that someone in my position has to deal with are leaders who have a tendency to ignore reality and follow a flawed strategy or other key decision off a cliff. Pride almost always gets in the way as he/she thinks that changing course would represent failure or unnecessary pain. Usually there is a difficult decision that has to be made about people, finances or the current business model (sometimes all three). The inability to make these types of decisions tends to lead to one outcome – failure. A reasonably competent leader may delay the timing but the end result is inevitable.
When you own your business it is your sandbox. You get to decide who plays in it and what happens inside. Just remember that these decisions also have consequences. As an advisor to my clients, my role is to get them to appreciate this fact. I’ve often watched people make decisions that I don’t agree with. Sometimes I am right and sometimes I am wrong about what happens next. My track record is usually pretty good but far from perfect. I just want to make sure that these decisions are somewhat informed and well thought out. I am fine with being pleasantly surprised by good results that I didn’t foresee or anticipate. I learn from these situations as well – never underestimate the resolve and creativity of a committed leader. Most importantly, I strive to ensure that these decisions are aligned with the outcomes the client is aspiring to achieve. Success can be defined in many different ways and unless there is a moral or ethical component, it is not my role to judge.
Business ownership has never been for the faint of heart. On-going change and adaptability is part of the success equation. Even when things go well there are problems you will have to navigate. As you grow, your company and you should be prepared to experience many if not all of the following issues:
What made American industry great was that we had a solid albeit often informal contract between employer and employee. If you show up, put in your dues and do a good job, we will take care of you economically and provide a sense of security around your professional and personal well being. Hang in there and stay the course and there will be opportunities for advancement. We will also create a safety net to catch you when you fall and/or have to deal with challenging life issues. The overarching theme being that we are all in this together and should make the best of it. It is also why we created the largest middle class ever known to mankind and put great distance between ourselves and other economies in the world.