Are you a sucker for reverse psychology? Good!
Here’s how to be spectacularly unsuccessful in business.
The 7 qualities of leaders who preside over business failures are:
1. They see themselves as dominating the environment.
Smart leaders know that in business, circumstances always change and success is fleeting.
2. They confuse their personal interests with the company’s interests.
Smart leaders stay objective and restrain their ego.
3. They think they have all the answers.
Smart leaders know that nobody knows it all, especially them.
4. They ruthlessly eliminate anyone who isn’t 100% supportive of them.
Smart leaders understand that eliminating dissent deprives them of useful feedback.
5. They are obsessed with being the company spokesperson.
Smart leaders stay focused on the business and avoid becoming a celebrity.
6. They underestimate major obstacles.
Smart leaders learn which problems are insolvable or solvable at too great a cost.
7. They stubbornly ―and stupidly― rely on what worked for them in the past.
Smart leaders realise that yesterday’s answer won’t fit today’s question.
Worst of all, in many companies these 7 traits are often mistaken as good leadership.
They lead to disaster if left unchecked.
Note: you only need 5 out of 7 to be highly unsuccessful.
Summarised from the book Why Smart Executives Fail
by Sydney Finkelstein
Professor of Management atDartmouthCollege