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Local business advisor to Cleveland CEOs and entrepreneurs, Ingeborg Hrabowy, PhD, humorously lists sure-fire methods that will doom a business to ill-health at best, failure at worst.
1) Neglect your physical health.
2) Neglect your marriage.
3) Don't practice stress management. Have no outlets. Isolate yourself and burn yourself out.
4) Have no business strategy driving the business. Fire then aim. Or if you prefer, fly by the seat of your pants. This is a surefire method of squandering precious time and limited resources.
5) Let emotions be the driver of your business decisions and cloud your judgment.
6) Fail to delegate. Be totally resistant to the idea of giving up control where necessary. Continue to believe and behave as if no one can do the job as thoroughly or competently as you can. Micromanage and oversee everything.
7) Embrace 1 or 2 extreme leadership styles. Be explosive, intimidating, unapproachable and autocratic or be passive, overaccomodating, indecisive, and avoidant.
8) Have a crisis management style toward meeting deadlines and commitments. Play firefighter.
9) Have no established circle of informed trusted advisors - formal or informal. Do not meet with them on a regular basis. Do not use them as a sounding board. Do not solicit objective feedback nor ever use that feedback. Never check your ego. Never correct mistakes.
10) Be totally driven and consumed by the business. Have no work/life balance, oversacrifice for the business and have your identity and self-worth totally determined by your business success. Even if wildly successful, I guarantee you, you will either be alone or lonely. And heaven forbid, if you do fail, you have now set yourself up for a serious downward spiral of depression and annihilated your self worth.
Choosing an effective, well-rounded business advisor is critical. Be sure to inquire as to the advisor's credentialing and other areas of expertise such as conflict resolution, dynamics of human interaction and work styles, stress management, and ability to teach balance between personal and professional life. A blend of business, behavioral, and conflict resolution backgrounds is ideal.