<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=349935452247528&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

What are the Worst Mistakes You Can Make as a Leader?

Apr. 4, 2019 | Posted by The Alternative Board
shutterstock_142550515-1

It takes a lot of smarts, experience, vision, intuition and skill to be an effective CEO or business owner. But all leaders must be mindful that their ability to make mistakes—just like everyone else—doesn’t magically disappear when they reach the C-suite.

What’s also true is that the ramifications of high-level mistakes can be significantly greater than those made by others. That’s because, as every business leader well knows, their actions and decisions affect potentially untold numbers of employees, customers, and other stakeholders.

So it’s important to recognize and guard against the types of mistakes leaders sometimes make:

Getting caught up in a job title. Being Chief Executive Officer often means seeing your name on a letterhead, getting an office in a prime location, etc. Yet such trappings “aren’t the qualities of a real leader,” notes business author Deep Patel. What leaders really care about “is the goal at hand, and empowering those around them to do great work.”

Attempting to handle (and control) everything themselves. Every successful business is comprised of many moving parts—far too many for a single individual to handle or control by themselves. Effective leaders can distinguish between what’s genuinely important and what’s better left to others to address. They don’t “sweat the small stuff,” staying focused instead on the company’s vision and plan for strategic growth.

Not owning up to their own mistakes. A refusal to acknowledge when you’ve made a mistake might be the biggest mistake a leader can make. There’s simply too much at stake for a leader not to recognize when he or she has erred, and to evade accountability for a wrong decision.

When something goes wrong, you may find that “much of the time, it can be traced right back to the top,” writes serial entrepreneur Serhat Pala. Acknowledging such a mistake “is one of the best things a leader can do to lead by example and promote accountability in a company.”

Want additional insight? Download Easy Ways to Improve Your Company Culture

DOWNLOAD

Worrying that someone else might steal the spotlight. Successful leaders get a lot of attention, which can become addictive after a while. Sometimes they worry that someone else within the organization might, by virtue of completing an important project or embarking on a key initiative, steal the spotlight. They might even go so far as to hire individuals whom they sense are competent enough, but not likely to outshine them.

This misguided attitude can rob your company of the exceptional talent it needs in today’s marketplace. Strong leaders encourage imagination and initiative in their companies, and generally don’t concern themselves about who gets credit for a big achievement. In such happy circumstances, everyone benefits from success.

Placing blame on others when things go wrong. In the same respect, an insecure or ineffective leader will rush to judgment when something goes wrong. They engage in finger-pointing or, worse, getting rid of someone on the team as a way to deflect attention from themselves.

Effective leadership entails assuming overall responsibility for the business and emphasizing the capacity to learn from bad situations and prevent a reoccurrence in the future. Placing blame is fruitless and only serves to dampen morale and productivity throughout the organization.

With the right attitude, all of these mistakes in leadership can corrected or avoided altogether. By focusing instead on the personality traits that enhance leadership, a business owner or CEO can work together with his or her team and make great strides in future growth.

 

 

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

8 Business Lessons From TAB Members
Sep. 29, 2021 | Posted by The Alternative Board
Business lessons learned from the real world are far more valuable than those learned in school. As a result of the pandemic, we have learned more in the past year than at any other time. Faced with...
Part Two: Benefits of a Peer Advisory Board: Board Members Tell All
Sep. 7, 2021 | Posted by Phil Spensieri
In Part One of Benefits of a Peer Advisory Board: Board Members Tell All, you learned a little bit about what it was like to be a TAB member, from the time commitment it takes to the many reasons why...
Why Your Business Needs Standard Operating Procedures
Aug. 26, 2021 | Posted by The Alternative Board
Running a business is a costly, time-intensive process. Costs and time can grow exponentially if an organization lacks a system whereby products are made, or services rendered in a consistent manner....
5 Ways To Tell When Your Business Needs a System Overhaul
Aug. 17, 2021 | Posted by The Alternative Board
We all know that businesses need to accomplish many tasks each day for their companies to function. And they need to complete those tasks efficiently, smoothly, and quickly to thrive. As an...
Part One: Benefits of a Peer Advisory Board: Board Members Tell All
Aug. 9, 2021 | Posted by Phil Spensieri
Over the last 15 years, I have dedicated my professional career to helping business owners design and implement strategies with sound, reachable growth and profitability goals. I have worked with...
What to Tell Your Employees When Selling the Business
Jul. 29, 2021 | Posted by The Alternative Board
Selling a business is often a complicated process. One complicating factor for any CEO or business owner is determining what to tell employees about the pending sale, as well as when and how much....
A Guide For CEOs —11 Ways To Make An Impact In Your First 90 days
Jul. 13, 2021 | Posted by The Alternative Board
Your first 90 days as CEO will set the tone for your entire tenure in the organization. Therefore, this is a crucial time, and the goal is to establish your credibility and trust, so the team and the...
Tuna not Perch- Pursuing Significance
Jul. 13, 2021 | Posted by Jim Gerberman
It's hard to imagine a more difficult time for being an effective business leader. Correspondingly, finding significance in what we do has never seemed more fleeting...and, necessary. As we all...
A Guide to Finding the Right Peer Advisory Group For Your Needs
Jul. 6, 2021 | Posted by Phil Spensieri
As business leaders, we all know it can be “lonely at the top”. This is one of the key reasons that so many entrepreneurs seek out a peer advisory group - an organization whose main purpose is to...
13 Lessons In What NOT To Do In Your Business
Jun. 9, 2021 | Posted by The Alternative Board
There are many things successful business owners consciously steer clear of while going about running and growing their business. We asked 13 TAB members what they believe entrepreneurs should...