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Leadership

20 Ways Managers & Employers Collapse Their Own Company

Many a time, entrepreneurs are full of much hope and passion and feeling eager to establish their own companies but soon, their hope is crashed with eventualities and situations in their companies. Having interviewed and observed how the company of many entrepreneurs, CEOs and managers collapsed, I am moved to write on how their own actions and inactions led to the collapse of their companies.

In this article, I have carefully outlined the top 20 ways managers and employers collapse their companies. When done reading, kindly comment to tell us your views and experience on the subject.

20 Ways Managers & Employers Collapse Their Own Company

  1. No Proper SWOT Analysis

As an employer, you are required to have a carefully researched work on the Strengths, Weaknesses, Opportunities and Threats of your company. The threats and weaknesses you do not pay attention to have the power to clamp down your business.

  1. No serious interview:

The manner and structure of your interview session paint a picture of your company’s values and principles. A well-structured interview enhances the image of the company and crystalizes a serious business environment into the minds of employees. On the other hand, where interviews are not done and all other procedures are not carefully followed, employees may not take everything seriously in the company.

  1. No proper orientation

Orientations are meant to introduce the company to employees, its culture, values, principles and rules and regulations governing the running of the enterprise. Where there is no proper orientation, the resultant effect could be costly mistakes that could spell the doom of the company. It is incumbent on human resource managers or employers to ensure that proper orientation is done before employees start work.

  1. No proper conditions of service

A company without any proper condition of service easily suffers from high labour turnover. As a manager, employer or entrepreneur, the welfare of your company should be as important to you as the purpose of establishing the company. The mistake most employers make is to value their company far above the welfare of their employees. A satisfied and happy employee is likely to yield high output and exhibit high creativity than a disgruntled worker.

  1. When incentives are absent

Do not turn a blind eye to little incentives that can motivate your employees to do their very best. Regardless of how small the incentive is, it is a way of rewarding the extra efforts of your employees. Do not deliberately create conditions and use tactics to scrape off the little incentives of your employees.

  1. Undue salary delays

Anytime you know that salaries will not be paid earlier or delayed, do not hesitate to inform your workers. Don’t be silent on their salaries and sometimes, deliberately travel in order to dodge payment until you make enough money. Know that your employees have dependents who need to survive on the salary. A little delay in the salary could cause much trouble for your employees’ dependents. Sometimes, your employees will be left with no option than to go and borrow money and promise to pay as soon as they receive SMS alert for the salary.

  1. Continually cheating your employees

Any employer that cheats his employees is only cheating the glory and growth of his company. Whatever thing you do to your employees may have a direct or indirect impact on your company.

  1. Promising and failing both employees and clients

Nobody likes Mr Promise & Fail Managers and employers. Why? Because they cannot be trusted with their words. The moment your employees and customers don’t trust you, your reputation and customer base begins to reduce.

  1. Failure to deliver on time to customers

The moment you begin to fail and disappoint your customers on two or more occasions, it becomes associated with your brand and people will not like to do business with you again. Note that it is very difficult for your customers to receive money these days so do your very best to always ensure customer satisfaction.

  1. When managers discriminate with benefits

When it comes to benefits, ensure that there is a set standard of performance and let the actual benefit be known. Once everyone knows that this is the amount that goes with this or that performance, they will know what lies ahead of them unless otherwise, it is part of your policy that management decides on such.

  1. Disciplinary discriminations

Treat everyone fairly in your company. Do not let some rules apply to some people while others suffer the same consequences. Let the rules be clear to everyone as well as the conditions of services. Make it a point that nobody is above the law. Do not discipline some people and leave others to get away when every employee is aware of the punishable offence committed. You begin to lose respect the moment you discriminate on discipline and your employees will lose confidence in your leadership.

  1. You don’t work on guest feedbacks

Business grows if only you work on guests’ feedbacks. This will enable employers and managers to know how your business is performing in terms of customer satisfaction. Some of the feedbacks are so critical and demand urgent attention. Your company is likely to crash if you do not open your doors for suggestions, feedbacks and any other pieces of advice.

  1. You concentrate on money than people

One of the serious mistakes top managers and employers make is to only concentrate on hitting their target and make the money without remembering that you can only hit the target and achieve it when you value people more than money.

In business, your employees should be as important to you as the whole business itself. One dissatisfied employee whom you ignore for so long can spell the doom of your company with just a little information released into the public domain.

  1. Not embracing new technology and better ways to do things

When technology and software are introduced, embrace them to enhance your way of doing things. Most of these software come to reduce the workload, promote efficiency and lesser time spent doing a particular thing.

  1. When Managers Ignore Offences and unresolved issues

As managers or employers, never take it for granted when your employees report any form of offence to you. Unresolved issues and offences may affect the efficiency of your workers, affect coordination among them and eventually spread to affect other workers which have a resultant effect on productivity, customer satisfaction and the future of your company.

  1. You don’t deal with issues of morality

Issues of morality should not be a playing word in the company. Sometimes, some female employees are harassed by their managers or employers. And at other times too, it is the managers or the employers that rather forcibly rape or have sex with the employees apart of coworkers also committing the same offence. Once these things are going on in the company, a little information triggered into the public domain can spell the doom of your business.

  1. When you are a bad example yourself

As managers and employers, know that once you know you are a very bad leader, know that that spirit will be caught by your followers. In life, the spirit of every leader broods over the followers. You cannot be a bad example and expect your followers to be good and perhaps, better than you when you are deliberately doing the wrong thing.

  1. Not following up on customers

Managers and employers, if you do not follow up on your star customers as well as the smaller ones, then know that the competition is very high and someone too may be targeting your customer and offer lesser price quotations. Once there are frequent follow-ups, friendship and loyalty are developed and you keep them forever as long as you continue to remain in business and do your very best.

  1. No serious marketing or publicity

You may be doing very well as employers of your own company but until you take your marketing and publicity very serious, you may not reach the masses of the people. Make conscious efforts to announce the presence of your business and let people know what you are into and business will kick-off.

  1. When you have no online presence

It will surprise you to know that many businesses that have existed for more than 5 years do not even have social media accounts. Get found online, have a good website to assist your customers to get more information about your business. A good website and a good social media account can announce your presence and market your business across the globe. You can do business in a local setting and still go global.

Did I miss anything about the 20 ways managers and employers collapse their own companies? Share your experience with us by commenting and share with friends and loved ones.

Categories
Leadership

Why You Are Not Your Own Boss When You Start Your Own Business

Do You Know Why You Are Not Your Own Boss When You Start Your Own Business?

I have heard it said by many people that one of the reasons the subject of entrepreneurship fascinates them is the idea of not taking instructions from anyone else but themselves. Many times, these are people who are yet to start a business to know what it actually takes to run a successful business.

You read the 10 Steps to Becoming a Successful Entrepreneur in case you are now dreaming of being your own boss.

Starting and running your own business may mean you will become the CEO from day one; but that doesn’t take away the fact that there are other key stakeholders who are responsible for the successful outcome of your business. Your customers, board of directors, and even colleagues could give you “instructions” on how to better run and manage your business. If you are running a business because you want to avoid instructions from a “superior”, you might as well think again.

Have you come into contact with a client who could speak to you like you are a kid for the little error or delay in delivering on a contract?

Have you had so much turmoil in your business that you need someone who is gone ahead of you to give you strict instructions on how to go about things to bring your business back on track? Like Sam Walton said, “The customer is the boss.”

You can start the best business but if they decide to take their money elsewhere, what you have is not a business. Before the end of last year, we called our customers to ascertain how best we served them and what they think we can do to serve them even better. And we got feedback of what they thought we could do better. Were those instructions? Of course! Have we implemented them? Yes, the majority. Has it improved on our service delivery? I am sure it has. Who gave the instruction? Was it the boss? No, it wasn’t. Who did? The customer!

If you look to running your own business, be ready to listen. Be willing to take instructions. If you are not ready to do any of these, then you are sure on your way to losing out big time.

May be now you can answer the question: Do You Know Why You Are Not Your Own Boss When You Start Your Own Business?

 Recommended Articles:

  1. 10 Ways to have a stress free Monday Work life
  2. 11 Reasons why ‘Too Normal’ People Cannot Succeed

Categories
Leadership

30 Facts Every Christian Leader Should Know

In the world of business and leadership, managers and employees are hired after a competitive interview but Christian leadership is a bit different from the secular world. In the corporate world, man may be interested in the physical qualities and education background, experience and other factors but God has a different agenda and criteria altogether for His own selection and placement.

It is very important for every Christian leader to know and understand these facts

30 Facts Every Christian Leader Should Know

  1. Christian leadership is a noble work that calls for noble and an unquestionable character
  2. Christian leadership is not by position and status but by divine calling
  3. Christian leadership is not about your education but your dedication to God
  4. Christian leadership is not competition but completion of your mandate
  5. Prepare for physical and spiritual attacks and persecution
  6. Disappointment and failure may come but that doesn’t mean God has failed you
  7. True Christian leadership is a call to service but not benefits
  8. God calls every Christian leader for a particular assignment
  9. Know that there is a price every leader must pay to reach his target destination
  10. It is a call to sacrificial service and self-denial
  11. It is one of the most difficult and complex works ever
  12. You cannot do this work without love
  13. The only way you can make a difference is total reliance on God and leading of the Holy Spirit.
  14. It’s not over till God says it’s over
  15. Don’t trust human ability, worldly knowledge and abilities – it is not by might
  16. The work demands different roles so you wide knowledge to stay in equilibrium:
  17. It is not all about what you like and know but the will of God
  18. At the end, God will reward or punish you – Matt. 25
  19. No matter how good you are, you cannot do it all alone. You need to work in a team and learn to delegate
  20. A good Christian leader impacts the next generation for leadership succession
  21. God’s method for His agenda on earth is man; you cannot make without people. God said, “let US make man…”
  22. Believe and respect every small beginning. Jesus had the biggest ministry but started small even with the worst background – Though your beginning is small, your end shall be exceedingly great.
  23. You need total humility in order to walk with God for God opposes the proud.
  24. Understand that one of the irresistible challenges in leadership is change so prepare for it.
  25. You cannot go far without prayer and study of the word. A weak prayer life leads to a weak ministry which has a resultant effect on your impact.
  26. Simple obedience and faith are the two non-negotiable things you need in ministry.
  27. It is important to know that your authority and anointing are both from God but not embedded in your priesthood garment and titles.
  28. To stay focused in ministry as a pastor or a Christian leader, you need to maintain balance without veering off to the left or the right.
  29. Know that as a Christian leader, you do not have any follower if you are not able to connect the hearts to your members to your ministry and leadership
  30. Without discipline, you ministry will go nowhere.

In your own views and experiences, what are some of the leadership facts every Christian leader should have in mind? Kindly tell us by commenting.