News
28 | JULY 2018
News
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INCONVENIENT TRUTHS IN RUNNING YOUR OWN BUSINESS
Running an installation company is generally hard work and there ’ s not much time for introspection . Benjamin Dyer of Powered Now looks at some inconvenient truths that may contain nuggets to help you run your business .
You can ’ t be anything you want to be
The American Dream says that anyone can be anything they want to be . While the election of Donald Trump might make us feel this is true , the fact is it isn ’ t . The first inconvenient truth is you ’ re not good at everything . Recognising that as soon as possible will help your business greatly .
One of my relatives didn ’ t believe this . They were smart and did many things outside their expertise , including drafting their own will . The result after they died ? Their will was disqualified , then there was a legal case that went all the way to the high court in London . It tore the family apart and cost nearly a hundred thousand pounds in legal fees . All that to save a few hundred pounds in drafting the will . And all caused by over-confidence .
We are at our most successful when we understand our strengths and play to them . Then we need to know our weaknesses and cover them . That ’ s usually by working with people who have complementary skills .
Ego can be destructive
Often , ego gets in the way of success . I had to tell someone recently that “ Non-one likes a smartass ”. Arrogance is how ego usually manifests itself . This is off putting for prospects , customers and staff . Making prospects feel small is guaranteed to lose the sale . Explaining to staff how this is your business and their opinion doesn ’ t count guarantees that they won ’ t care about the job . Dismissing or ignoring customer ’ s concerns makes negative reviews and being sued more likely . Humility , the opposite of arrogance , is a very attractive characteristic . It must be genuine and not over-played . Ego of course often hides deep insecurity . It ’ s always worth taking a long hard look at ourselves to see where we stand on all this .
You can ’ t fool people in the long term
In the end , people see what you ’ re really like .
Many people who run their own businesses don ’ t have the problem of caring too much about their staff , although some do . But if you don ’ t care about your people at all , they will realise that over time . Although it might be part of our make-up , we should understand that it is deeply damaging to any business context . Like arrogance , it produces in staff the exact opposite of what you want to see .
Your staff won ’ t care about you and your business . In the worst case it may translate into not caring about your customers too .
People can be irrational
People aren ’ t entirely logical . They value some things more than others . They have expectations set by history even when these don ’ t make any sense . They ignore evidence that says they made a mistake . They feel much more pain from losing something than they feel benefit from gaining the same value . Let ’ s look at these in turn because understanding these factors in ourselves , customers and staff can be a big help .