Business Blind Spots

Business Blind Spots

 

As business owners, leadership (and the pressure to be good at it!) comes with the job. All leaders have blind spots – areas in which they typically neglect, yet have a big impact overall in the business.

Business blind spots have been described as an area in the lives of people in which they continually do not see themselves or their situation realistically.

These areas need special attention – a conscious choice to “glance over your shoulder” and make sure you avoid that collision!

So what are some typical blind spots of small business management? There are three common ones most leaders tend to fall into.

One of the biggest blind spot issues is the tendency to be the omnipotent leader – adopting all responsibilities and attempting to go it alone. This is a blind spot because often leaders will be oblivious to the fact that they are doing this.

Best way to avoid it? Talk to your team – ask them about their perceptions of you and your ability and willingness to delegate.

One of the more interesting blind spots relates directly to hiring and team building. It is common for leaders to be attracted to those who are most like themselves.

A reflection of one’s own hard-working dedication is attractive to a leader – but realistically, this is a pitfall.

Consider a hiring committee when taking on new employees – this way you avoid the potential for gravitating toward staffing your office with clones! Diversity in the workplace is important for success.

Avoid potential near misses by evaluating your habits often. Identify what your bad habits may be and work towards eliminating one at a time. Bad habits are not a sign of weakness; they are areas for improvement, strengthening character.

The third biggest blind spot is simple. Portraying an aggressive emphasis on money and profits is a major danger.

Yes, it’s important, and yes, as the owner of a business your focus must constantly include the bottom line but be wary of pushing this focus on to your team.

Save the money talk for whom and when it’s relevant and place importance instead on the human side of your business.

Defining Risks Before They Become Real Problems

Planning always benefits small businesses. Assessing risks and outlining a plan of attack should be part of your standard business plan. Be sure to consider outside factors and external fluctuations that may affect your industry. Make your predictions with flexibility built in – all businesses are susceptible to changes in a volatile economy.