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A High Achiever Almost Went Bankrupt Because He Did Not Know This

win@acoaching.

By Stan Mann Category: 0

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Best regards

Stan Mann
http://www.stanmann.com

A High Achiever Almost Went Bankrupt Because He Did Not Know This
High Achievers have great strengths. They also have
correspondingly great weaknesses. The very leadership style
that worked so wonderfully in one situation may be
self-defeating in another. This occurs most often when a
gifted entrepreneur starts a business that grows
quickly--perhaps too quickly. Let me give you an example.

Jim's once high profit margins were declining in spite of
revenue well over three million. He owns an information
technology consulting and networking integration firm.
Three years ago he started small, with three employees.

A high achiever, Jim was highly motivated and during their
daily contacts his enthusiasm and motivation rubbed off on
his workers. Having good intuition about the needs of his
business, Jim made all the decisions in the small company.
His business grew fast as he built a reputation for
producing electronic solutions for his clients. He grew to
25 workers and then his troubles began.

Jim became hard to get hold of. He spent most of his time
responding to the urgent needs of his clients or putting
out fires. He intended to make business plans but never got
around to it.

Workers complained they no longer got enough direction to
handle the increased amount of work. Employees needed a
structure and a system to help them make decisions. Without
any systems for processing the higher volume, they simply
had to work harder and longer. They no longer felt valued
by Jim. In the early years, the company attracted and kept
excellent workers, then they stared having high turnover.

Jim lost some key clients due to mistakes having been made
on some projects. They no longer trusted they will receive
the reliable service they had enjoyed in the early days.

In spite of higher sales, as a result of the lost business,
mistakes, and employee turnover, profit margins headed down
fast.

What happened to this once successful company? The owner
was using methods that worked successfully for him in the
past, when the company was small, but became outmoded by
the rapid growth of his company.

The company grew beyond Jim's wingspan--the area where he
could make the right decision based on his instincts. When
the company grew beyond this wingspan, Jim was in
unfamiliar territory and his instincts lead him into making
decisions that worked in the former situation but in the
new circumstances were wrong decisions.

His impressive strengths that made him a high achiever and
launched a successful electronics company no longer worked
in his bigger company. To avoid disaster, Jim decided to
change his leadership style. Jim hated the idea of down
sizing his company, or hiring managers to manage for him.
He chose to change his leadership style with the help of a
coach.

Here are the specific shifts Jim made in his leadership
style.

Jim became a good communicator. He had been a poor
communicator. He tended to forget that people can't read
his mind. He also tended to think faster than the average
person.

So Jim learned to communicate with his workers like he does
with customers--listen carefully, ask for constant
feedback, and to slow down for 'detail thinkers.'Jim used
special assessments to tell him how to best communicate
with his workers.

Jim knows his purpose and role and hence does not need
anybody's help in setting his goals; but most employees do
need help in clarifying goals and objectives.

So Jim devoted time to help his people clarify their goals
and objectives He created an atmosphere of trust where it
is safe for everybody to admit their needs.

Being highly motivated, Jim does not need supervision but
most employees do. So Jim started providing supervision and
support for his people to meet their goals and objectives.
He also provided a structure and a system to help his
workers make decisions.

This took time, so Jim decided to give up his role of hand
holding his clients. Realizing that this customer service
contributed to his success, he hired specialists to take
over this role.

This allowed Jim to cut down his excessive hours. He was
encouraged to take care of himself first. After all, he was
the foundation of his business. If he burned out, the
business is sure to suffer.

In essence, Jim shifted from working in his business to
working on his business--from personally providing customer
service, to leading and managing his people. Now he has
personal time for family and friends. These changes
eliminated the chaos in his business and his profit margins
are heading up.

----------------------------------------------------
© 2007 Stan Mann.
Stan Mann, C.P.C. supports business owners, top executives
and commission salespeople to substantially grow their
business and have a balanced life. He is a Certified
Professional Coach and the author of Triggers: A New
Approach to Self-Motivation. For additional articles and
resources, please visit:
http://www.stanmann.com

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