4 Mistakes Business Owners Make

good-choices-bad-choicesLet’s get to some core issues that stunt professional development and growth!

Over the holidays, I encountered four (4) people that said things that disturbed and concerned me.  I want to share them because we can all learn from these.  Here are four (4) mistakes that business owners make:

1.       Reluctance to look in the mirror and Self SWOT

In November, I gave a lecture to a group of business women in Macon, Georgia and shared it online in about 50 Facebook and Linkedin groups I belong to.  The emphasis was on planning for 2014 by doing three (3) things: (1) self SWOT, (2) SWOT of your business, and (3) planning sales activities.  A SWOT is simply an assessment of strengths, weaknesses, opportunities and threats.  You plan activities that increase strengths and opportunities; and decrease weaknesses and threats.

Several ladies shared with me in December that they conducted their Self SWOT.  They were excited about it and said that taking the time to reflect and write things down was very revealing, somewhat uncomfortable, but good for them overall.  But, one lady contacted me and said she was going to share the worksheet with her clients.  She said she was lucky and was very successful; and had been assessed to death.  She did not see a need to do a self analysis.  She implied that she did not need to self SWOT.

Well, the fact is we all need to take a look in the mirror.  The key word that stood out with this lady was “luck”.  Perhaps her success was merely by way of luck.  This type of success is fleeting.  Business owners should make improvements in the way they think and operate so that business growth and success is sustainable.

One lady said that she had been in business for a long time since the early 80s.  Her tone implied that she did not need to plan or self SWOT because she had it all figured out.  Perhaps she felt she had arrived.  Well, again, that’s the wrong attitude.  No matter how successful you are, planning and assessments can help you grow and be even more successful!  Even Richard Branson believes in business strategy and planning.  He believes in having detailed and realistic legal, financial and operational plans.  The SWOT is not lengthy or formalistic.  A lot of folks are reluctant to take that closer look because it might be uncomfortable or painful.  But, it could help them grow their business and grow as a professional.

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By Clovia Hamilton, MBA JD President of Lemongrass Consulting Inc.

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