I read an article this morning in the March 2nd edition of BusinessWeek; ‘How Not to Succeed in Business,’ written by Jack and Suzy Welch. The article criticizes the government’s leadership faux pas regarding the current economic situation. The criticism is not aimed at policies per se, but at the lack of effective leadership – the kind that successful businesses demand and that governments should emulate. Examples from the article included the Vice President announcing that every government plan has a 30% chance of failure and the President lambasting the past instead of focusing on a future plan.
These are important lessons for every business leader now to remember and implement for their own survival and success in these touch economic times. Here’s the quick and dirty:
1. Business leaders gain nothing by showing uncertainty and indecision – Every leader grapples with uncertainty, doubt and tough business decisions that are at times overwhelming. Taking those feelings public does nothing but make a dire situation hopeless to those around you. Gather your trusted advisors and wrestle with the challenges. Find solutions, work out a plan of action, and only then, speak out publicly. The message should be ‘Here’s what we are going to do and why. Here’s what’s in it for you and here’s what we are going to look like when we get to the other side.”
2. Business leaders undermind the success by talking about the risks of failure – Any strategy has a risk of failure and you need to weigh the risks before you embark. However, once a decision and a direction have been taken, why lament the risks? Go forward with confidence and the can-do attitude that is neccessary to will yourself and those around you to succeed.
3. Business leaders cannot induldge bureaucratic data dumpers – Basically, don’t let the numbers stand in your way. And, if you have managers in your company that are obsessed with crunching numbers and assessing risks, they may be too paralyzed to make a decision and take action. That indecision, will surely be confusing and demoralizing to his/her peers and subordinates. According to Jack, the ‘only way to break that cycle is by not tolerating leaders who obfuscate with date to avoid taking action.”
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