Are You a Stubborn Business Owner? Here Are 10 Signs That Show You Are
Businesses tend to be complicated machines to run. If they were easy to operate, then we wouldn’t need to hire several dozen employees just to help us manage it and startups wouldn’t have such a high rate of failure. Many stubborn entrepreneurs believe that they have the keys to what makes a successful business. This is especially true if they spend a lot of time reading articles and papers on businesses and how they come to rise or fall. Information is, after all, and incredibly vital component in any entrepreneur’s success, but there comes a point where too much information is also a problem.
Let’s face it, much of the success we’re looking for is gained through experience, not just study. As a result, it’s important to put a heavy emphasis on accepting your failures and knowing when you’re not as knowledgeable as you think you are. Stubbornness is one of the biggest mistakes that you can make when running a business. If you don’t know that you lack knowledge or if you believe that you’re more experienced than you think you are, then it’s a good idea to take a step back and monitor the way you’re approaching your workflow.
To help make things easier for you, we’ve put together a list of 10 signs that show you’re a stubborn business owner that needs to change.
- Stop micromanaging your employees
One of the biggest mistakes that come with stubborn management is micromanagement. Whether it’s by accident or on purpose, you need to remember that to be a better manager, you need to give your employees some space. You need to trust that they’re capable of carrying out their tasks and you need to stop putting yourself in the middle of the workflow because you will create bottlenecks.
- Learn when you ask for help
Don’t be a stubborn manager that drives its business into the ground. Ask for help from consultants like Truewater if you need IT support or speak to a lawyer if you’re faced with a copyright issue. Help is always available (even if it will sometimes cost you money) so don’t be afraid of seeking assistance when you’re in trouble. It’s not a sign of weakness and it’s not going to break the trust and faith your employees have in you—asking for assistance is normal.
- Your employees can sometimes be right
Arguing with your employees is a terrible idea especially if you’re already having trust issues with them. Whenever your staff give you suggestions or tell you about something related to your business, make sure you listen to them so that you get a good idea of what’s on their mind. Even if their idea isn’t great or if it’s uncertain if their ideas will help or not, lend them an ear and listen out instead of shutting them down.
- And the customer can occasionally be wrong
There’s a saying that the customer is always right, but there are also times where the customer can act poorly. If you feel like your customers aren’t treating you or your staff with respect, then there’s a good chance that they’re not worth the reduced morale your staff will experience. There are plenty of clients out there who are difficult to work with. Whether they lay into one of your members of staff over something stupid or if they come to you for their troubles, remember that they’re not always in the right and you can challenge what they say if you believe it to be false.
- Learn your place in the industry
You can’t be stubborn to a point that you believe your business is better or more advanced than a competitor. Even if, statistically, you are superior, it’s important to know your place in the industry so that you don’t frustrate the wrong people and so you don’t over exaggerate your own possibilities. Learn where you stand in the industry by analysing your company for what its worth.
- And cut your losses when there’s no saving your business
There are times when you’ll need to make a hard decision that involves getting rid of your business. Maybe it’s just not profitable anymore or perhaps a natural disaster has made it impossible to repair and will require long-term relocation away from your friends and loved ones. Learn to cut your losses so that they don’t eat up more of your profit.
- Are you learning to adapt your business?
Businesses have to adapt to new changes in the industry and your company is no different. Whether it’s collaborating with a popular brand, creating garments that are similar to celebrity ones or utilising different types of social media to advertise your brand, you need to spread your wings and learn to adapt to new trends.
- Or do you refuse to change your gameplan?
Some entrepreneurs have a set plan that they stick to, and this is perhaps the worst way to operate a business. While it’s fine to have long-term goals, you need to remember that it’s not a straight path to reach them. Along the way, you’re going to encounter a lot of problems such as human resource issues, marketing mistakes or viral successes and even logistics problems. You need to remain as flexible as possible in order to truly operate a successful business that is free from stubborn decisions.
- Are you thinking of the future?
Although adaptability is important, thinking of the future is equally just as important. Long-term goals will give you and your staff and aim to reach in the future. Saving capital or expanding your business aimlessly isn’t going to get you anywhere, so stop the stubbornness and plan ahead no matter how complicated or long it sounds.
- Do your employees believe in you?
And finally, we also need to think about employee trust. You may have read about famous companies that treat their employees terribly yet still find success, but you’re far too small of a business to be treating your employees like cattle. Once you’ve reached thousands of employees then the lines will start to blur, but as a small or medium business, you’re expected to inspire trust and faith from your employees.
Stubbornness will destroy your business, so keep these points in mind to have a better chance of success.