You’ve probably watched movies that show someone getting stuck in quicksand or mud. If they had only known the danger ahead, they might have avoided it! Similarly, as a CEO, you can sidestep many pitfalls if you’re aware of them beforehand. Here are three examples:
Oftentimes, distraction is a slow fall away from your goals. So start by clearly defining your vision and setting up accountability for yourself. In the initial stages of your business, don’t try to expand too soon or you may find yourself expending excessive energy and burning yourself and your team out simultaneously. Also, remember that while it’s vital to learn from other businesses and their successes and failures, you shouldn’t do things just to “keep up with the Joneses.” Instead, improve on what you do best, developing your unique ideas and following through with them to the best of your ability.
Doing It Alone
Like they say, it can be lonely at the top. But it doesn’t have to be. You can build relationships with other people while gaining insight that will help your business continue improving. First, make a habit of listening to those around you – whether they be your customers, employees or other business owners. Even family members and friends can sometimes see problems before you do. Furthermore, put time into connecting with other entrepreneurs; they can be invaluable resources for fresh ideas and practical advice. Finally, you might feel alone if you have staff members who don’t put in their best effort or even bring toxicity into the workplace. So be sure to surround yourself with a quality team.
There’s always room for more growth. Not only with your professional goals but also with your personal goals. Evaluate the quality of your customer service, products and services, the way you do practical things like budgeting and billing, and how you interact with your team members. Also, stay observant to the changes around you: Follow the economic and societal trends to find out when you need to adjust what you offer or how you attract new clients. If you stick with the status quo or revert to “autopilot” in any of these areas, it’s a surefire way to see your business gradually disintegrate.
Try to dodge these pitfalls when possible, but also give yourself grace, remembering that everyone makes mistakes. By learning and getting back up to try again, you’ll set yourself up to thrive as a CEO and your business will grow as well.