The Failure Recipe

There is a sure recipe that will pretty much guarantee business failure and most of us are aware of it, but struggle to do anything about it. The issue for many of us is that we tend to think in the present in much the same way we thought in the past.

History Repeats Itself

It is true that past behavior is a predictor of future behavior. This applies to people and business alike. That's because business is a living, breathing extension of the people inside.

As a result, if a person struggles to learn from their past we cannot expect a different approach toward the business they lead.

Many business leaders have a tendency to hold others to an impressive level of scrutiny, but seldom hold themselves to the same standard. It’s a twisted version of Einstein’s Theory of Insanity. If we approach our business or life in the same way and at the same level of thinking that we did in the past, we are crazy to expect any different result in the future.

Take a Deep Breath

As an entrepreneur, have you ever asked yourself, “What was I thinking?” If you have, it probably means that you weren’t. Thinking requires pausing for a moment and giving yourself time to reflect over the issue being placed in front of you and then choosing to make the best decision possible. Pausing gives us time to allow the emotions to pass and offers us an opportunity to make a decision that makes sense long-term. The best long-term decisions remove the emotion, consider the facts, recognize the obvious, and set us up for a thoughtful decision. The problem is that we've become more reactive than thoughtful.

When we pause, we give ourselves time to engage that moment between stimulus and response. What we choose to do in that moment, however slight, may be the difference between a good decision and a bad one. Simply taking a deep breath before responding has been found to cause a pause in the moment and reel in emotions.

We Can’t Be Like Everyone Else

If the world has become reactive and less thoughtful, why would we do what every other business owner does. Doing so will likely mean we will become just like every other business. With 80% of business failing in their first 5 years, that seems like a crazy business plan.

With customer dissatisfaction skyrocketing, disengagement at work reaching all-time highs, and business failures rising, why would we want to be like every other business? Now more than ever business leaders seem to be accepting normal and doing what they’ve always done. This behavior does not appear to be getting them or their customers the result they want and expect. As business owners, if we want something different, we must do things differently, which requires thinking differently.

This begins by doing what we know is right and good. We must develop a customer focused approach toward operating our businesses. We must develop our employees and reward them for achieving the vision for the business. We must create a culture of execution and adherence to a fundamental set of core values that drive business decisions. In the most positive sense, we must be unique and unexpectedly different.

It Begins with One

If we want the future of business, the customer experience, and employee engagement to be different, as business leaders we must own our part and become more committed, more disciplined, and more dedicated to being the business leader we know we must be. We need to change how we think and transform ourselves by making a commitment to being that leader. It is only then that we will realize a different future for our business.

Remember, if it doesn’t feel right, it’s probably not. If it doesn't feel right to you, it most certainly doesn't feel right to your employees and customers. We've all walked into a business that just didn't fell right. The question becomes, is our business one of them?

To change the feeling inside our business we, as leaders, must first change. We must take responsibility for our business decisions, how we lead, our culture, and our business ethics. Doing so will create a ripple effect in the space around us that can lead to a tidal wave of change in the business we lead.

After all, as much as Albert Einstein understood insane behavior, he also understood how to measure intelligence. And it was held within one’s ability to change. Let's be intelligent leaders and do what is obvious but so difficult. Let's lead a change for the better.

“The measure of intelligence is the ability to change” -Albert Einstein

Randy Stepp is a Principal with Renaissance Leadership Group. RLG is a full-service business and franchise development company whose purpose is to help business owners realize their dreams of independence and freedom.

Visit Renaissance Leadership Group at www.renaissanceleadershipgroup.com to learn more about business development