Reasons Why Some Owners of Firms Get Themselves Trapped
Reasons Why Some Owners of Firms Get Themselves Trapped
by Jonathan Goldhill
Most entrepreneurs start a business with the best of intentions to achieve greater happiness, however they define it. Most want more freedom, fulfillment and financial success. Most want to feel the pride of being an independent business owner in control of their own destiny.
Unfortunately, after a few years, the entrepreneurial dream starts to warp into a partial nightmare. An insidious form of slavery sers in. The owner is trapped on the treadmill, working harder and harder but going nowhere.
As discussed in last issue's aricle, many businesses, employees and customers. They feel "on" their businesses. This article will focus on the common causes of business owner bondage.
Based upon my insights working with hundreds of business owners over the last 20 years, I believe fice areas to be the most common causes of business slavery.
Technical Tendencies
Habits determine destiny. Too many entrepreneurs are former technicians now masquerading as owners. They think they are entreprenuers, but they don't act that way. As once accomplished technicians, they have a hard time letting go of such expertise and familiarity. They remain trapped in a technical comfort zone, mindset and work approach. Sadly, such technical expertise is insufficient for managing a business.
Busy-ness
Many owners and managers confuse activity with accomplishment. They confuse busyness with results. Hard work with smart work. Perspiration with purpose. Instead of working smarter, many owners hold tight to the delusion that working harder is the solution. The more the business grows, the harder they work, the more imprisoned they become.
Ineffective Leadership and Delegation
Far too many small business owners are by default small leaders. Instead of leadership, they excel at doer-ship. They are micromanagers that like to touch and control everything. They trust no one but themselves. They believe "no one does it as well as me". They seldom delegate, if at all. To lead effectively, one must trust others.