Business Failure Reason #1: Incompetence

Incompetence
Incompetence: Inadequate Management, Poor Leadership, Lack of Understanding How to Run a Business, Failure to Go GET The Knowledge, Failure to Apply the Knowledge.

In short, poor leadership is the cause of all business failure at it’s root. If I’m a good leader, I have studied, learned, and practiced how to deal with people, events, and general business issues. For most of us, we are very vertical and know a couple things about business, but that’s it. We’re neither a jack-of-all-trades, nor a master of business.

Good leadership and management skills are attainable—as are good business practices. There is no lack of wisdom on the internet alone—again, it’s not that we cannot easily get the knowledge, it’s that we don’t apply what we’ve learned. If I can get you to apply what you’ve learned, we’ll be friends for life. Many of the materials I will recommend are from John Maxwell because according to Inc. Magazine, John is the worlds expert on leadership. He has also written almost 80 books on leadership and personal growth. As well, I have studied tirelessly with John and his team and I teach and apply his principles. Depending on how you learn best—

You Read, You Lead

1) The 15 Invaluable laws of growth, John Maxwell. Read this first. It will help you become intentional in everything you do which is the first step to success. I also teach a MasterMind Group on this so you can join in the conversation and really fly.

2) The 21 Irrefutable Laws of Leadership, John Maxwell. This is the defacto standard in leadership training.

3) EntreLeadership, Dave Ramsey. This is a great general book on how to do business. It’s a great starter for anyone not familiar with the specific concepts of business.

4) The E-Myth, Michael Gerber. Michael’s story telling method really get’s across how to excel in your business.

5) Failing Forward and Sometimes You Win, Sometimes You Learn (two different books), by John Maxwell. Great books for helping you deal with failure and keep moving forward—a major key to get to success. It’s not that you fall down nine times, it’s that you get up 10 times.

6) Positive Accountability, by Royce White (me). This book shows you how to define your success, get on target, stay on target, and use the help necessary to get to your definition of success.

Start now and in a month you’ll be done with these books and well on your way to understanding what it takes to lead well. Apply what you learn daily. Be intentional. Be immediate. Be specific.

Training

1) MasterMind Groups. There are thousands of study groups on these and other great books. Find one and get involved—the accountability of these groups alone is the key to your success in learning. MMGs are done in groups locally, online, conference calls, or webinar format.

2) Leadership Training. It’s what I live for. My passion is helping other people realize their passion—and everybody needs to understand leadership to excel. I have courses on leadership. Plus, there are lots of excellent teachers all over the globe that are part of the John Maxwell team that teach, coach, and speak on leadership. I can personally recommend one to you based on your need and location. Contact me at royce@roycewhite.com and I’ll hook you up with the best.

Reading

There are a ton of blogs dealing with leadership. I have a section of my blog devoted to leadership (and one for personal growth, productivity, accountability, and marketing). Stop by daily and catch a new lesson, encouragement, tactic, thought, truth—or sign up there and get it in your email daily—and get a free copy of my eBook on 5 Steps to Making Your Marketing Soar. As well, there are a thousand blogs out there with good leadership principles (and a couple bad ones). Take some time daily for your personal growth. If you don’t invest in yourself who will? Here are two great quotes to drive this point home—

 If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.Jim Rohn

If you put a small value on yourself, rest assured, the world will not raise the price.John C. Maxwell.

So you see, you can get the knowledge—that’s the easier part—applying it is the harder part. If you have trouble getting started and staying on target (maybe self-discipline is really difficult for you—it is for me, but I have help), you may need a personal coach. A good executive coach can make you fly. You can double your productivity with the right coach. I have a list of the top 50 coaches on the John Maxwell Team on my website. Click on the menu item “Coaches.” They will move you to serious accomplishment. Guaranteed. A small price to pay for incredible rewards.

I’ve blown way over my normal blog size—but this topic and information is crucial to your success as an entrepreneur. I will address the remaining nine reasons for business failure in subsequent blogs. If you want to make sure you get them, make sure you sign up to get the blog by email.

MAKE it a great day!

Leave A Comment