When Leaders Get it Wrong
As a business advisor, I’m always amazed by leaders who don’t act in the best interest of their own company. It’s something that happens more frequently that one would expect, and examples of this non-productive behavior include:
- Ignoring obvious problems
- Hiring people who don’t have the skills and ability to do the job
- Needing to be the “smartest person in the room”
- Not being receptive to advice that could help them to be more successful
And the list goes on. From my perspective, the most bizarre of these are the last two on the list. Both tend to be related to ego and insecurity issues that end up taking precedence over the company at hand. People who exhibit these behaviors miss the opportunity to build a better company, which, in turn, would reflect well on the leader. A complete disconnect!
Consider the following alternatives, both of which lead to better outcomes:
- Surrounding yourself with the smartest, most competent people is one of the best things that a leader can do. Not only does this significantly raise the likelihood that a company will perform better (to the benefit of all involved), but it also provides a powerful opportunity for a transfer of knowledge. A collaborative learning environment strengthens the senior team, as well as the leader. In my own experience, the smartest leaders I have known have never been afraid to say “I don’t understand it”, while taking steps to do so. Why is this important? Because even the smartest, most accomplished people know that there is always more to learn, and they are never diminished by saying so (in fact, it makes them better leaders).
- Experienced advisors bring a wealth of knowledge that can improve almost any situation. Why would a leader not be receptive to such a powerful opportunity? Not recognizing a good idea when they see it? Ego? Insecurity? Thinking that the issue has already been resolved (when it hasn’t)? Poor judgement?! Whatever the reason, this lack of receptiveness will eventually catch up with the company, often at the worst of times. Investors and financial partners screen for this tendency, and those who aren’t receptive to advice often don’t end up on the financing list.
I’ve long since had a theory that there are lots of business leaders who will opt out of what is in their own best interest, as well as in the best interest of their company. Ironically, these people are the ones who tend to need the most help, not the least, and they might just have to learn this lesson the hard way.
- MEDIA: CBC News Network Weekend Business Panel (May, 2021) - May 3, 2021
- MEDIA:CBC News Network Weekend Business Panel (April, 2021) - April 5, 2021
- MEDIA: CBC News Network Weekend Business Panel (February, 2021) - February 8, 2021