Welcome back to Grow by Joe. Have you ever made a mistake in your business?
We've all made mistakes. Every business owner makes mistakes. In this video, I'm
going to talk about the five common mistakes that all business owners make.
So, I can either help you fix them or avoid them. Stay tuned.
So, number one, culture. There's this whole buzzword now. Culture, culture, culture.
What does culture mean? Well there's a great quote by Tony Hsieh, the owner
zappos.com. And the quote is, "The destiny of a company is set by the
organizational culture." Something that's really cool to help give you a better
understanding of culture are 2 things. One there's a book called delivering
happiness by Tony Hsieh, it's a great book. Will help you give the better
understanding of culture. You can also utilize delivering happiness to come
into your business and work with you and your team to set and build out culture
in your company. Also, if you're ever out in Vegas, you can actually visits zappos.
com which I did. You get to basically see the inside workings of Zappos.com
and the amazing culture that they built. I wish earlier on that I focused on my
culture the right people and also just delivering more value than my
competition to my customers. We have a culture of going above and beyond and
doing good for our customers and also the same for our employees. Building
culture doesn't happen overnight but once you nail the culture in your
business, it's a complete game changer. Not only will having an amazing culture
help you attract great people, it also helps you retain great people. But it
really just creates an amazing atmosphere in your company. It also
becomes self filtering. Right now in my organization, if a bad apple sneaks
through our interview process and winds up being not the right person, our
culture is actually self filtering out. Not good people. Which spills out to our
customers which is truly an amazing thing. So, focus on culture. It's probably
one of the most important things in your business. Number 2, set it and forget it.
A common mistake that I see business owners make is not constantly improving
and bettering your structure and processes within your business. I think a
lot of business owners think when I get to a certain point or a certain number
of years in that everything will just automatically fall in place and once we
figure out this process or the structure that, that's great and we'll never have
to change it ever again. The reality is is as your business grows, your structure
will have to grow with it along with having the right people. So, don't
frustrate yourself and beat yourself up. It's not you.
Your business is growing and you need to change with it. Number 3, control. Not
releasing control or responsibility fast enough. A lot of the times, business
owners are type A and even if you're not type A. It can be so scary to release
responsibility and control and have other people do things that you do.
I used to say, "Oh, no one can do this. No one will ever be able to do this in my
business." And the reality is things that I've said, "No, one will ever be able to do."
There's been multiple people now over the years that have done that specific
task or have taken over that responsibility.
Number 4. People. A lot of mistakes that all of us business owners make is
not understanding people. We're all in the business of people and it's one big
people game. And a lot of business owners make the mistake of putting the wrong
people in the wrong seats. I wish earlier on then I got really good
with releasing responsibility and giving responsibility to others. The quicker you
can get good with this, do this and delegate out all those different
responsibilities and more importantly give up control, the faster and better
you'll be able to grow your business. You're not going to be able to do
everything and if you try and do everything you own a job and you're just
going to burn yourself out. One great thing that I've learned from the book traction
is in the book they talk about a number of great things. But one of them was an
accountability chart. We've done this in our business. We're basically it's not an
org chart but it's an accountability chart. And you take all the main people
in your business and what they're accountable for and you list those
things out. And then you share that with your organization. And basically, it lets
everyone know who's responsible for what and it also lets the individual
understand what they're responsible for. So there's none of this pointing in the
business and everyone knows who to go to for what. It's been something that's been
really helpful in my business. Number 5, change. The one thing that I
can guarantee you is that things will constantly change. The only thing that
remain constant is change. What's been really important for me in my business
is to instill that in our culture that things will constantly be changing. Will
be constantly improving. And the reality is is most people hate
or don't like change. If you're one of those people that don't like change, it
can be deadly in business because of Technology and because of the way our
customers buy things today, it's super important than not only you change the
way that you do business and continue to change with the time. It's really
important that you get everyone in your company on board with this as well too
and live and die by change. Extremely important. If we didn't change in our
business, I would not be here doing these videos with you today. So, I hope you
enjoyed this video. And remember, you're not alone. All business owners including
myself make mistakes and I'll continue to make mistakes. The biggest thing is
that we learn from those mistakes or seek out advice and soak up information
to help us avoid making mistakes others have. I hope the topics I went over in
this video sets light bulbs off for you and maybe helps you avoid some of the
mistakes that I've made over the years. Check out the link below in my
description to find out how me and my team help business owners just like you
grow and get to that next level. Thanks for tuning the Grow By Joe. I wish you
nothing but success and growing your business. Take care and we'll talk soon.