Rich?!…… I know that money isn’t everything and in fact it isn’t the biggest driver of many people. But I will never forget when I first heard those words spoken to my old boss. The best consultant that I have ever worked with in the corporate world looked my then boss square in the eye and asked him “Do you want to be right or do you want to be rich”?! The consultant said these words because he knew that the owner was the reason that the culture was poor. That the operations were struggling and that no matter how much talent they brought in to the company from the outside, that nothing would change because from the top down they wouldn’t let it. The worst part was that the ownership wasn’t even conscious of this fact.
The business was hurting financially and the consultant knew that if he was that direct he would get the attention of the owner. To this day I have never forgotten that statement and the powerful impact that it played in the turnaround of that business. Some of you may be saying that “I’m not the problem”. “My people are the issue”. Or “We can’t find good help”. My answer to that is simple. As the business owner you are like the quarterback of a football team. If your team wins (and you make money) you are given the credit for hiring the best people and being a great leader. If you lose (and your business is in decline or failing) then you take the blame. Plain and simple. The reality is that I see this every day and every day the common factor is that ownership more often than not hinders the success of the business and just as often isn’t aware that they are the issue.
This is very hard to hear as a leader but the good news is that there are several things that can be done to help solve this issue. First, you need to understand the issues and the pain points that they can cause. This can be done by simply asking and listening to your staff without applying blame. Second, you will need to address whether your team understands your vision for the business as an owner. Next, you need to know if they agree with that vision or if there is a better way that they can bring to the table. Remember, do you want to be right or do you want to be rich (or successful). Lastly, you will need to, in light of your findings, put in place a plan to execute the plan to make the change necessary to remove or improve your pain points. Many times this may even include that ownership takes on a different role or has to delegate duties that they ordinarily wouldn’t ever hand off. This is where things get tough and most people just find themselves caught in a cycle that never changes because it is too difficult. In these cases we recommend help from professionals to get your over the hump and out of the cycle that causes these pain points in your business. Remember that there is no owner’s manual for being a business owner and that you don’t need to feel shame or failure for needing help. The most powerful and best leaders in the world share 2 common things. They realized that they can’t be all things and do all things on their own, and they allowed their team to thrive and add value in a way that they aren’t able to.
My company Devoted Enterprises and I personally offer many types of services that can help in these areas. The most affordable one is our Business Health check. We do a 85-point business check on the 11 main areas of your business. In the check, we point out all the areas mentioned above and even make suggestions on what will help you get to passed these issues. If after the health check, you feel you need guidance, we can assist with that as well.
If you are going through struggles in your business, you are not alone. You also do not need to be plagued by them or handicapped by them. There is help. We encourage those of you going through these issues or others, contact me for a free consultation.