Wednesday, September 30, 2009
Small Things that Can Kill a Business
Most business owners know the big things that can hinder or kill a business' growth such as lack of consistent cash flow, lack of networking & managing current clientele, lack of strategic planning, so on and so forth. But there are smaller things that spread like cancer and strangle companies before they know it. Things such as gossip, slander, unresolved internal conflicts, and stinginess. Now this may sound like high school stuff, but sadly professional life is only a stone's throw away from the wonder years for a lot of business people. People are people regardless of whether they wear a suit and tie or sneakers. At the end of the day, businesses exist to generate consistent profits for their owners. Employees get compensated for rendering a service. It is that simple. Yet stakeholders at all levels within a company get lulled into petty antics that distract from the bigger picture and that is to make money. Peoples personal lives come into places they do not belong and then business decisions are based off of unrelated information. This is a very dysfunctional process that several businesses are tangled in. Therefore things such as gossip, slander, unresolved internal conflicts, and stinginess are something the business owner or authority figure should use extreme prejudice when dealing with them (the items, not referring to race or any other physical quality). It could mean life or death for your growing company.