Career progress and performance is an important area in life and through my experience in striving to improve my performance I’ve learned to find many ways to perform well in my career.  It’s not been without its share of hard work though!  And as a manager, I also have insight and perspective from the other side of expectations and performance improvements and so these career tips come from that mix of experience and from my own study and practice in my career.  Please comment below if you have related experience or any experience/stories where you have used this tip!

Fill the Gaps

This tip is really about one specific thing that if you look at doing consistently and doing everything you can in this area, you will be more successful in your career, hopefully in the short term and definitely in the long term.  The tip is to regularly seek out any noticeable gaps anywhere you can in your workplace.  These can include any number of things in numerous areas:

• Your own performance
• New simple roles that no one is responsible for
• Tasks that need an owner or completion that is long outstanding
• Addressing or raising an obvious but unsaid concern
• Helping someone who obviously could use it
• Offer written suggestions that could solve organizational challenges
• Volunteer to take something new one when the opportunity arises
• Ask people about what went well and what went wrong to know what needs addressing and repeating

Doing these things comes at some expense and if you are wise, you will identify the low priority things in your work or tasks to ensure you make the time to fill the gaps you come across.  Eliminating wasteful activities, extra work, repetitive work, non-important work, and by prioritizing your focus, you will ensure you have capacity to fill the gaps and make a difference in those areas.  It’s in these areas that you can excel in your career and make the difference in your results, your inspiration and hopefully, even in building your own internal motivation.  So, don’t sit back and let your career progress without putting in effort to find and fill the gaps.

Posted by Mike King under Business | 2 Comments »

A Business Fable About Shedding The Three Fears That Sabotage Client Loyalty

Author: Patrick Lencioni

Naked service providers achieve a completely different level of client loyalty and its primarily about the foundation of any relationship, trust.  That trust is developed by being vulnerable and getting outside your comfort zone, the areas I most admire and aspire to myself.  That is what this great book is all about.  Lencioni does this in his unique style by writing the book and teaching the content as a fable.  He is a fantastic story teller and I really connected with the humor that was added in this book.  The main characters is in charge of ‘integrating’ a new team from a company that was expected to be swallowed up in an acquisition and he quickly discovers that his integration is going to require integrating the smaller company’s more effective consulting methods are what truly need to be integrated.

Of course the main character and whom is telling the story is faced with many challenges of learning this new style of vulnerable consulting service.  The humorous aspect is that the main character constantly narrates his thoughts as if he is saying them and then explains which I found myself laughing out loud from many times and the shock of what is really said versus what is thought brings life to the characters and realism to the story.  In fact, the impact of this I believe actually helps to convince the reader of each of the unconventional service methods that are presented through the main character’s learning by practice approach throughout the story.  I feel the book provides so many great examples (and realistic ones) all while clearly explaining the reasoning and doubts from the dialogue and thoughts of the characters.  It’s a fun story to read and an even better one to learn from if you are at all interested or involved in any kind of service to others.

The following is an outline of the “Naked Service” that is demonstrated in the book and is tough to digest without the context of the story or more examples, but here it is anyway, which I hope will wet your appetite and entice you to read this book.  It’s well worth it!

Fear of Losing the Business

Put your self at stake even when there is a risk to lose that business or jeopardize the relationships.  Honest and self assured consulting is the best approach here.

Principles:

• Always consult instead of sell – demonstrate value by serving
• Give away the business – give away advice and be generous even before they are a client.
• Tell the kind truth – Protect the client needs by telling every truth. Its presented with kindness and respect but never sugar coated even if the service provider will be sacrificed as a result.
• Enter the Danger – Step right into the middle of any uncomfortable situation to fearlessly deal with an issue that others are afraid to address. This grows great loyalty and shows integrity with an opportunity.

Fear of Being Embarrassed

Making suggestions even if they might make them look foolish.  Clients learn that this is a way to trust the provider.

Principles:

• Ask dumb questions – Asking more questions and possibly obvious questions shows courage and results in uncovering
• Make dumb suggestions – Suggestions without confidence often turns into a great insightful suggestion and is what is remembered, not that some suggestions are ignored or denied.
• Celebrate your mistakes – Being wrong is an inevitability and perfection is never expected, so acknowledge mistakes

Fear of Feeling Inferior

About getting past trying to look superior with a high level of standing or expertise.  To get over this, the service provider must be willing to purposefully put themselves below the client and make the needs of others (no matter what it is) more important than their own.

Principles:

• Take a Bullet for the client – Finding moments when we can sacrificially relieve some burden from the client and then confront them with the kind truth
• Make everything about the client – A powerful tactic by focusing on helping, supporting and honoring the client
• Honor the client’s work – Take an active interest in the client’s business
• Do the dirty work – Be willing to take on needs of the client regardless of the level of the work and do it humbly to earn gratitude and loyalty
• Admit your weaknesses and limitations – General weaknesses should never be covered up since it prevents you from doing best in areas you can thrive

Posted by Mike King under Book Reviews | 7 Comments »

Author: Susan Stamm

Overall, I found this to be a very good book and there are many things I really enjoyed about it.  It’s fairly short and easy to read as the 42 rules are separated into 42 chapters and the whole concept of employee engagement is one which is very deer to me and an invaluable tool when it comes to leadership.  The book presents 42 easy to digest rules covering a good variety of topics. There are items that need you to focus on yourself and skills in order to perform well in your team then there are many more showing how you need to put your attention towards your team if you plan to engage them more in their work and for better performance.

I like how Stamm put specific actions you could put into place for each of the rules in order to get started and if you were to tackle each of those, this book would be a sure recipe for great engagement, and ultimately, great management as a result.  I know that management is an area that often gets looked upon poorly as a result of so many bad managers spreading those impressions, but Stamm breaks that with good advice and solid recommendations.  Everything covered is useful for being a better manager but it’s certainly not limited to managers. Many of the rules are things that any employee can do or at least strive to learn for a future role.

As with any book on engagement, I expect to see that it is about people, relationships and working on behaviors in those relationships, as that is what employee engagement is all about.  I am happy to say this book easily meets that expectation and in fact, I was quite happy to see the D.I.S.C. profile used to outline behavioral tools for the 4 quadrants of that model.  The one thing that I did not enjoy as much about this book is that it was hard to read because the rules were so individual.  They book could be read 2 pages at a time which is great for someone well distracted but I found the disconnected rules to be distracting on their own when I sat down to read though a number of pages.  I’d love to hear more on each subject and have the author ties the rules together more, as many are related but not presented that way in this short book.

Overall, it’s an excellent short book and one to be very useful if you don’t know much about employee engagement. I definitely recommend it. So whether you are interested in the book itself, this I recommend even more! The website covering the book’s content and reference site is excellent!  There are brief outlines for each of the 42 rules and there are templates available for excersizes on each of the rules.  This is an incredable resource on the subject so please do check it out and explore more about what this book and website have to offer!

Team Approach – 42 Rules Resources

42 Rules – Templates

Posted by Mike King under Book Reviews | 1 Comment »

Why it is so hard for companies to find great leaders?

A guest post by By Dan MacDonald

When leaders are chosen, the decision is often based on the wrong criteria. Many look to people with strong, charismatic personalities, or passion for personal achievement. They may also look to people who are commanding or who manage the efforts of others well. Some people even look to physical attributes as an indication of leadership ability.

The misconceptions of what makes a person a good leader are not limited to these factors. They also include our choices of personality characteristics. Some see great leaders as people who can mesmerize a crowd with their stage performance, who can make those around them relax with their confidence, or who can think circles around other senior people in the organization. In reality, these traits and characteristics are not indicators of great leaders. Rather, great leaders are characterized by their focus on integrity over stage performance, passion for what is best for the company over self-importance, humility and passing forward credit over ego, and empowering their people over making decisions on their behalf. There have been numerous books written, researches conducted, and data compiled that point to these findings; however, even extraordinary companies with insightful, intelligent, and experienced boards of directors and senior executives have erroneously chosen leaders based on their perception of leadership capabilities.

Leadership Development at HP

Take Hewlett Packard for instance. In January of 1999, Hewlett Packard’s board of directors met in the Garden Court Hotel in Palo Alto, California to discuss, among other things, the rapid changes in business caused by the unsubstantiated growth of internet IPOs. There was concern among the board that changing times may call for a leader better suited to lead the company into the future. In his book, How the Mighty Fall, Jim Collins summarizes this concern best, stating that, “HP’s stalling growth and languishing stock price relative to the skyrocketing technology sector lend credence to a growing worry that HP needed an entirely new type of leader”. At the meeting, Lewis Platt, then CEO of HP, suggested he retire early to make room for an appropriate leader. The board accepted and replaced him with Carly Fiorina, announcing in July of that year, that she would become the next CEO of Hewlett Packard.

Lewis Platt and the board of directors believed that a new CEO with a fresh perspective would help mobilize the company towards the rapidly-changing landscape of the technology industry. Fiorina, who once held Forbes magazine’s ‘Most Powerful Woman in Business’ title and had an impressive sales background as Executive VP at AT&T, was just the type of executive HP was looking for. In retrospect, it seems as though the board of directors may have erred in its judgment; during Fiorina’s tenure HP realized its first loss, its stock price fell from $45.36 to $20.14 and heavy job losses were incurred. In comparison, Platt, the Ford Taurus-driving down-to-earth former CEO, grew HP’s annual sales from $16.2 to $42 billion and earned Chief Executive Magazine’s distinction as the 11^th highest wealth creator of all time.

After closely examining HP, it becomes evident that leadership plays an important role in the rise or fall of an organization. Leaders can either drive organizations to market capitalization of hundreds of millions dollars or to losses as equally great. It is hard to dispute that leadership does not play a vital role in the success of a company, yet many organizations do not have systems in place to identify and develop potential future leaders.

Leadership Development at Wal-Mart

Consider Sam Walton, founder of Wal-Mart. From a young age, Walton displayed a natural ability to lead. In high school, he was the starting quarterback of the football team and never lost a game. He was Vice President of the student body in his junior year and President his senior year. He was voted ‘Permanent President’ of his graduating class in university. But Walton didn’t fit the standard description of a leader. He was not an Ivy League school graduate and did not hold an MBA. Walton was a humble, scrappy, pick-up driving country boy.

Walton went to work as a manager trainee at JC Penney three days after graduating university, marking the beginning of a passionate love affair with the retail industry that would help shape the remainder of his life and affect the lives of millions of people. At JC Penney, Walton embraced the customer centric JC Penney approach to retailing – especially JC Penney Ideas #2 and #3, guiding principles related to giving the customer the most value for their money. But Walton was not the most thorough employee; he hated making the customer wait while he completed paperwork, so his books were a mess. His boss often threatened to fire him, saying he was not cut out for the retail business. Walton managed to keep his position due to his ability as a salesman. After only eighteen months with the company, Walton resigned.

If JC Penney had systems in place to identify the leadership potential in Walton, they may have been able to entice him to stay and develop him into their future leader. Instead, he started his own department store which would rival and eventually surpass JC Penney in the quest for retail dominance. As many companies begin to adopt the ‘promote from within’ mindset, leadership development systems are becoming more and more common. The problem remains that many companies base their criteria for identifying future leaders on misconceptions of what makes a great leader.

Identifying Leaders

So the question remains—how do we create a system for identifying great leaders in the early stages of their development? Do we use psychometrics profiles to identify the leaders with the best traits and fast track them on a path to more senior roles? Do we let people inside or outside of the organization decide who will be the next leader?

Many experts have spent countless hours researching enduringly successful companies in order to develop a list of traits that might be an indicator of an individual’s leadership potential. These experts paid close attention to key characteristics commonly held by the leaders of these organizations. Jim Collins, in his book Good to Great, and Jason Jennings, in his book Think Big, Act Small, discuss the patterns that emerged in their research.

The patterns that emerged were often surprising even to the researchers. The researchers determined that great leaders were passionate about doing what was best for their companies. This drive for the advancement of the company took precedence over their drive for personal advancement and recognition. The leaders of these companies also exercised personal humility by passing forward credit and accepting blame. Additionally, they asked questions as often, if not more often, than they gave answers. This empowered their people to make important decisions which increased their confidence, skills, and commitment to the organization. These leaders also exhibited commonalities within their personal lives. Many of the leaders studied were extremely modest. They often preferred domestic cars or pick-up trucks over exotic sports cars. They also had a tendency to live in moderate houses instead of sprawling mansions or estates. Though humble and modest, these leaders were not meek. They tended to be stoic when it came to important business decisions. They would make tough decisions without great emotion and fanfare but rather with quiet resolve and determination. In short, great leaders are defined by their humility, integrity, determination, and strength of character, not by their stage presence and strength of personality.

The characteristics described above help in the development of a personality profile which can be used to identify strong leaders. Companies need to work to determine which other qualities are required for their particular company or industry. Once the leadership profile is complete, a company can begin building systems that identify these characteristics in its employees. There are many effective tools available to assist in this process including psychometric testing, 360 degree feedback, personnel assessments, and employee surveys. To achieve the best results, it’s important to combine a variety of these tools. As Shane Sabatino, Senior Vice President of Human Resources for The Brick LP Group said, when it comes to identifying potential leaders, “There really is no silver bullet”. Sabatino recommends incorporating a variety of assessment tools into the hiring and strategic planning processes. These processes should continuously evolve, however, they should continue to focus on identifying and developing leaders who possess the required traits.

Lasting Leadership

The question remains, “How do I know the right combination of assessment tools to implement?” To answer this question, it may be useful to examine companies which have experienced enduring success regardless of changes in their leadership. The Fortune 500 list is a great place to being your research. This annual ranking of America’s largest corporations has chronicled the spectacular rise and fall of hundreds of companies. If you compare the first Fortune 500 list published in 1955 to the most recent edition, you will find only 68 companies appear on both lists. Some of these companies have even appeared on this list every year. The exclusive list of companies who have achieved this continued success year after year include General Electric, Procter & Gamble, and Marathon Oil. It is no surprise to learn that each of these companies invests heavily in leadership development.

General Electric is world renown when it comes to leadership development. It is considered to be one of the greatest leadership development schools in the world, which is impressive for an organization that is not an educational institute. General Electric invests hundreds of millions of dollars in the continual development of their potential leaders and even has a school in Crotonville, New York, that is dedicated to achieving this objective. As part of their employment, senior leaders in the organization must dedicate time to teaching or learning at this school.

A.G. Lafley, former CEO and President and current Chairman of the Board of Procter & Gamble, takes leadership development seriously. He views leadership development as a source of competitive advantage for P&G. This makes it easy to understand why he spends over thirty percent of his time on leadership development. Lafley views effective leadership development as one of the most important components for the future success of Proctor and Gamble therefore, he is supporting a full leadership evaluation program that assesses how people lead and manage within the P&G organization.

Marathon Oil in another Fortune 500 company which invests heavily in partnerships with leadership and management training companies to help develop their executive team. They constantly conduct 360 degree evaluations and provide classroom training and online support to their management and leadership teams in efforts to help them develop.

Unfortunately, many organizations do not invest in leadership development until there is a pressing requirement for it. This is a poor and often ill-fated approach. A company cannot afford to be partially engaged in the development and identification of its future leaders. As JC Penney learned, great potential leaders can be overlooked by failing to fully engage in this process.

Dan MacDonald is President of Business Improvement Solutions (BIS), an Alberta based training and development company. He is the co-author of three books: Leadership, Management, and Success. To find out more about BIS visit www.bisconsulting.ca

Sources:

CNNMoney. (2009). Fortune. CNNMoney. Retrieved September 19, 2009 from the World Wide Web: http://money.cnn.com/magazines/fortune/fortune500/2009/full_list/401_500.html

Collins, J. (2009). How the Mighty Fall. USA: Harpercollins.

Entrepreneur. (2009). Sam Walton. Entrepreneur. Retrieved September 8, 2009 from the World Wide Web: http://www.entrepreneur.com/growyourbusiness/radicalsandvisionaries/article197560.html

HP. (2009). Executive Team. HP. Retrieved September 8, 2009 from the World Wide Web:

http://www.hp.com/hpinfo/execteam/bios/fiorina.html

May, R. (2005, November 15). Leadership Development as a Competitive Advantage. Business Pundit. Retrieved September 19, 2009 from the World Wide Web: http://www.businesspundit.com/leadership-development-as-a-competitive- advantage

Siegel, B. (2009). A.G. Lafley P&G. Siegel Innovations. Retrieved September 19.2009 from the World Wide Web: http://siegelinnovations.blogspot.com/2007/10/leadership-ag-lafley-procter-and-gamble.html

Walton, S. (1992). Sam Walton: Made in America. USA/Canada: Bantam Books.

Posted by Mike King under Learning | 17 Comments »

Author: J. Barry Griswell and Bob Jennings

An Unconventional Guide to Achieving Uncommon Business Success

The Adversity Paradox is a fantastic business book.  It looks at how obstacles and setbacks in life (adversity) can create the experience a person needs to overcome such challenges and development themselves to improve their circumstances and prepare themselves to be better equipped in the future.  It’s a book with stories and a close examination of what are the main contributors to people overcoming tough circumstances in life to be successful.  It specific looks at this paradox of how great challenge and some times suffering can lead to so many later great things.  There are a number of factors in those challenges that if handled well allow a person to overcome it and turn things around.  This of course is not something that happens to everyone, but those that do overcome the paradox seem to have a lot of similarities and understanding them and learning from them allow each of us to better prepare for adversity and to achieve more.

Business Savvy

The book first looks at the term business savvy and explains it as those who understand how to do well in business, consistently achieve their business goals and to be proficient in the realm of business.  This is something you develop through practice and experience and there are a number of core competencies of a business savvy profile:

• Systems and linear thinking: Big picture perspective with ability to execute smaller consecutive tasks
• Continuous thinking: Having forward or visionary skills to steer and react quickly to future events
• Synthesizing: Able to turn data into meaningful and useful information
• Knowing what you don’t know: Seeing gaps, working to fill them through learning and through the help of others
• Communication: Solid skills to communicate at all levels
• Empathy: To recognize and understand the thoughts and feelings of others

“And Then Some”

Throughout the book the stories are shown to have each of the characters practicing an over arching theme where no matter what is expected, no matter what the circumstances and no matter how difficult something is, you should always work to go above and beyond which is described and doing the task or job “and them some”.  Always that little bit more.  Each of the characters practiced the idea of “and them some” and it continually payed off, not immediately, but eventually, it always payed off.  This is big contributor to overcoming these challenges.

This concept is put forth as a universal one where you can practice “and them some” in anything you do, which I personally think is a great message on its own in the book with or without the paradox of adversity.  If you gain anything from the book at all then I hope it is this concept since it is so simple yet so effective. I can’t stress enough how powerfully this is portrayed in the book and the chapter on “and them some” is easily worth the price of the book alone and I’ve already gone back several times to re-read pieces as it truly is brilliant!

Next, this chapter expands to look at the concept of “and them some” in a general sense of self improvement and outlines in text and pictures two main steps.

The first step, that any adversity has two options:

1. Wallowing and pessimism
2. Acceptance and analysis

It takes a step to progress from 1 to 2 and this is the key to overcoming adversity.  Move from 1 to 2 quickly and then get into the next main step of the self improvement process.

The second step requires using introspection (more on that below) to look specifically at the other human capital components to identify what can be done to better oneself.

Human Capital

1. Introspection

This is the practice of observing and evaluating oneself to assess your personality, goals, performance, ideas, capabilities, strengths and weaknesses.  This skills collides with our egos and so an honest assessment is very difficult and this skill takes time to hone.  One cannot truly assess the other human capital components until this skill develops.  However, it must be conducted with the help of what the authors call, “mirrors” or other people who can honestly provide feedback about our character and human capital components.  This understanding helps us grow and realize what we need to change to direct our efforts to improve ourselves.

2. Values

This component outlines the values and beliefs a person has.  What is it that they are founded in and can rely on for extended periods through their life. Matching your behaviors then with these lasting values is what allows you to stay consistent and stay on purpose through your career.  Doing what is right and good is outlined as an important factor to success and moral leadership is hinted at as something that defines true success.  I love that and I definitely agree with the authors that this component ought to have a spiritual foundation where the values steer a person towards a purpose in life and that only living that purpose can deliver true lasting happiness.  Ahh…

3. Work Character

It just keeps getting better and I particularly loved this component as its one that I have changed a lot with (my own introspection) and so now I value this component a lot to how it has impacted me personally and in my career.  Anyway, work character is outlined here as how committed and hard working you are.  Of course it goes deeper than that and to me its a lot about the attitude you have when it comes to work as well and its an easy place to practice the “and then some” concept from above.

4. Purpose and Passion

This one connects with work character because to have a good attitude about work while consistently working hard and always putting in a little more than expected, you really need to love what you do.  You need to find a way to enjoy your work and be passionate about it.  One line from the book that I think deserved far more attention is this piece of great advice:

The trick is to view work as a means to far greater benefits or enjoyment.

This is just brilliant and I hope that you take a minute to really think about that and your own work.  I personally can find joy in my work easily and be passionate about it because of that statement above, not always the work itself.  I find it troubling that people always say they work 1/3 of their lives so you need to love your work as its the majority of your life.  I hate that message and its really not true anyway.  People only work 17% of there entire lives so there is clearly much more to life than work.  Let your work feed your passions and bring your passions and purpose into your work, not the other way around!  Anyway, back to the book, purpose and passions are obviously important to have included in your work and they are definitely an important component in this human capital outline from the book.

5. Thirst For Knowledge

And the fifth component wraps this up well with a look at learning.  How appropriate as the enitre book is about changing from adversity and improving oneself to have business success.  This thirst for knowledge and the power of applying knowledge is transformational and can keep you on an upward success trajectory for life.  Life long learning is obviously something I write about often, I completely feel the same way about it as the authors and I too, have had that shift in my life where I realize life long learning is now a given for me, not some kind of band wagon I am on.  This type of realizating and the transformation it brings can be sparked by overcoming adversity through knowledge but its more than it, it feeds life long change, powers you to be excited about doing what you are asked “and then some” and it keeps you looking for more and more areas of introspection and building your work character.  Knowledge brings on curiosity and these thigns are absolutely essential to great business success.

Summary

So, I don’t have much criticisms about the book.  Personally, I thought that 80% of the content was packed into the first few chapters and the second half had lesser value but overall, the stories and expansions in the second half of the book certainly added more understanding and were still well worthwhile reading.  The first half is simply brilliant and I know I will be recommending this to more people and re-reading sections of it again.  The concepts and messages are realistic and can be applied whether the adversity is experienced first hand or not.  The book states, there are no secret insights, quick success steps or other tricks or promises, its straight forward and offers accounts from those tested with adversity to put those misfortunes to good use and gain business savvy from them.

I certainly learned a lot from the book and as you tell from this review, I loved the content and the message of the book so yes, I definitely recommend it to anyone interested in business success or really, any level of self improvement since the patterns can be studied and learned from in any area of life.

Posted by Mike King under Book Reviews | 11 Comments »

This article is part of a series about the 7 ages of a business, an entrepreneur perspective, initially published at eDragonu.ro . The remaining 6 articles are published as guest posts on 6 other fine personal development and business blogs. You will find links to them at the end of this article.

Time For A Change

Exhaustion is by far the most difficult stage to accept from an entrepreneur perspective. Exhaustion happens when your market is so crowded that you can barely keep your profit and clients, when your employees can switch instantly from you to your competition (and vice versa), and when the market share is calculated in fraction of percents.

Exhaustion is usually the natural consequence of leadership. Every process in the world is a cyclic one and business can’t be an exception. After a high rise, a lower altitude will follow, after a huge inspiration, expiration will follow. These are metaphors for a rather harsh reality: during this stage your efforts will seem huge and your reward almost inexistent. It’s extremely difficult to accept exhaustion especially after the leadership stage when everything seemed to happen effortless.

From an entrepreneur standpoint, the exhaustion stage is much a like an old, small shirt. It simply doesn’t look good on you. You grew up and your shirt isn’t fitting anymore. Takes time to understand and accept that because we humans have a tendency to attach to our past images. An entrepreneur is often identifying himself with his business and can’t accept its decline. I know I did this mistake.

What To Avoid

Although you reached the end of the journey, there are still some things you can do to make it worse than it need to be. Here’s what I found better to avoid.

Salvage

The first reaction at this stage is trying to salvage your business. Although you came through all the stages, from enthusiasm to leadership, it seems that things aren’t running quite smoothly as before, so, you need to change something, you need to save your business. Well, you can’t. At least, you can’t go back to the leadership stage. Trying to salvage the business will often lead to risky solutions and will make it more unstable than before. Salvage will do more harm than good at this stage. The salvation process is mostly at the entrepreneur’s psychological level, the business is following a normal pattern.

Depression

That’s serious. Depression is one of the most common consequences for an entrepreneur reaching the exhaustion stage. You’re so overwhelmed with guilt and frustration, you’re trying so hard to come back on the game, you’re feeling so sad because the leadership days are over, that your psychological circuits can break. Depression is pretty common among entrepreneurs, although the images of entrepreneurs aren’t showing it. And it’s in the final stage of a business that is most likely for the depression to appear. Well, be prepared.

Conclusions

Jumping to conclusions is also one of the most common mistakes in the exhaustion stage of a business. Been there, done that, I don’t want to do it anymore. You’re analyzing your success level by the current business level. If the business is going so slow, you tend to think your success is not for real. That’s jumping to conclusion. You forgot how much you accomplished so far and tend to minimize your efforts. This is why is so important to assess your business experience during the leadership stage. Exhaustion is natural, but so is leadership, so stick with leadership and just accept exhaustion.

What To Do

Every crisis is in fact an opportunity. The business exhaustion phase is usually a powerful trigger for several really liberating activities. Here are some of them.

Exit

During the exhaustion stage and entrepreneur is almost forced to make an exit. I’m not talking about an investor or manager perspective here, which might be completely different, but about the entrepreneur’s desire to ignite things, to start something for scratch, to create. Exhaustion stage is like the click for a new adventure. I never met any serious entrepreneur who “survived” an exhaustion stage. Keep in mind that an “exit” can be done in million ways: you can sell all, just a part, remain investor, silent partner, etc.

Delegate It Big Time

If you’re not going to sell, which is highly improbable, the next best thing is to delegate it big time. Find somebody to run the business for you. It could be a person, another business (like in integrating your business with another one) it can be a group, it can be anything, as long as it gives you the freedom to start again. Delegating is not “exit”, if you’re delegating the business you’ll still have to exert some control over it, but at least you won’t be taking it as serious as before. Delegating wasn’t an option for me, after I hit the exhaustion stage I decided the best thing for me was to sell it completely. Your mileage may vary.

Accept It

That’s the most difficult yet most rewarding step you can take during this stage. Accepting that your business, your initial idea, has hit a certain level and it won’t go further will open your eyes to new roads. You can’t really run again if you don’t accept that you finished something, there will always be some lose ends that will make your running slow. Just accepting that you’ve done everything was to be done and you’re ready to start something new will be a great gift for yourself. Acceptance is the door to your new adventures. Entrepreneurship is not about money, it never was, it’s all about adventure.

Run Again

That’s the final stage of your business. It was a great journey. You started with enthusiasm, continued with a lot of trust and naivety, become attentive and then hit the maturity level. With courage and inspiration you expanded beyond your imagination and finally become a leader. It was an incredible journey.

There is only one thing that could level with that experience. And that is your next journey.

***

You can find the remaining 6 ages of your business on these fine personal development and business blogs:

• The Enthusiasm Business Age @ Attraction Mind Map
• The Naivety Business Age @ SmallBizBee
• The Attention Business Age @ Advanced Life Skills
• The Maturity Business Age @ Steven Aitchinson
• The Expansion Business Age @ Rat Race Trap
• The Leadership Business Age @ My Wife Quit Her Day Job

Guest Author:Dragos Roua is passionate about success, and he blogs at DragosRoua to share his insights about life’s many lessons and his travels and discoveries within it.  You can subscribe to his blog with his RSS feed here or catch him on Twitter @dragosroua

Posted by Mike King under Business | 16 Comments »