Beware Entrepreneurs, This is Your Biggest Failing Point (but You Can Get Past It)

What is an entrepreneur’s biggest enemy? There are many answers one could give to the question. Including things like self-doubt, lack of capital, not enough focus, and many more. But surprisingly, one of the biggest entrepreneurial foes is themselves. This comes in various forms, but one that’s particularly counterproductive is a rigid and unceasing belief that they can make anything work, including relationships. Usually, this is where toxic relationships come into the picture, but instead, we’re talking about relationships that just don’t work out for anyone involved.

Final Endings can be Just as Healthy as New Beginnings

Dr. Henry Cloud has spoken and written extensively about what he calls “necessary endings.” Basically, what this means, is putting an end to any relationship that is not a healthy one. And, it is applicable to the business world more so than one might imagine. That is to say, that sometimes putting a final end to a business relationship is also the birth of a healthy new beginning.

Failed relationships in business have high costs, both financial and emotional –expensive golden parachutes, failed hires who waste costly training, partnerships and investments that lead to misery and conflict, investments that make you wish you had put your money anywhere else, buyouts that lead to the destruction of a business you’ve nurtured over decades. —Forbes

Put another way, entrepreneurs are very stubborn people. They believe they can fix just about any scenario or situation. This even extends to their professional relationships, even when those relationships fail to work out time and again. Business owners mistakenly believe that just by making a few tweaks, they’ll be able to parlay productive relationships with individuals that have previously been failures. Although this isn’t so, it’s their rationalization about their own prowess that leaves them to try over and over.

How to Effectively End Bad Business Relationships

Fortunately, there are ways to identify and end bad business relationships. The trick is to rely on other people’s good judgment and embrace counterintuitive ideas. With a different perspective, it’s entirely possible to identify and end just about any bad business relationship. Here’s how:

  • Stop the cycle. Instead of continuing the relationship on with the same person and experiencing the same bad results, make a resolution to realign your relationship. After all, it’s possible to remain friends, yet not be in business together. This doesn’t require an uncomfortable confrontation. Rather, gradually transition from a working relation into a just a casual one.
  • Ask others for help. There are people in your life who you trust. Rely on their good judgment to help you see your blind spots when it comes to failed working relationships. This will probably be difficult to hear and more so to accept, but having someone else’s perspective may be enough to convince you that it just won’t work out.
  • Try switching roles. If it seems like a particular relationship with someone in various business ventures fails time and again, perhaps it’s the wrong personality. Confide in someone else and bring them into that other person’s role in order to experience a new dynamic. Doing so might also help to reveal some of your own shortcomings.
  • Step outside your comfort zone. It could very well be that the reason you and this other person can’t seem to get things to work out in a business environment is because you’re only comfortable in certain situations. While it’s usually beneficial to rely on others’ strengths where you have weaknesses, it’s also advantageous to overcome those weaknesses whenever possible.
  • Look at the big picture. Having to end a relationship, even a bad one, can be very difficult. This is particularly true if you have an affinity for the other person, even when things just don’t work out. However, this type of unproductive relationship will likely only continue to disappoint rather than reward. Don’t see it as a failure on your part. Instead, accept it for what it is, good and bad, and find a realistic way to move on.

What other suggestions do you have for ending bad business relationships? Please take a moment to share your thoughts and experiences. Your unique perspective might help one or several people out of toxic situations!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

Help! My Sibling is Sabotaging Our Small Business – What Should I Do?

Help! My Sibling is Sabotaging Our Small Business – What Should I Do? We all know that running a small business can be challenging. It requires a lot of hard work, dedication, and the right team to make it successful. But what happens when the person who is supposed to be your right-hand man or woman turns out to be the one sabotaging your business? Below, we’ll discuss some practical steps you can take if you find yourself in this unfortunate situation. Recognizing the Signs of Sabotage Before we dive into the solutions, let’s first discuss the signs that your sibling might be sabotaging your business. Here are some common indicators that something is seriously awry and that you’re suspicions are probably valid: Your sibling consistently misses deadlines or fails to complete tasks. He or she spreads negative gossip or talks poorly about the business to others. They withhold important information or resources from you. Your sister or brother makes decisions that negatively impact the business without consulting you. They take credit for your ideas or successes and do so without including you or specifically attempt to exclude your time and effort. If you notice any of these behaviors in your sibling, it might be time to take action. But, don’t just leap without thinking things through. You need to take a step back and look at the entire situation with a realistic perspective. Addressing the Issue with Your Sibling The first step in dealing with a sabotaging sibling is to have an open and honest conversation with them. Make sure to approach the conversation calmly and objectively, and avoid making accusations or placing blame. Instead, focus on how their behavior is affecting the business and your relationship. During the conversation, try to understand the reasons behind their actions. Perhaps they are feeling overwhelmed or frustrated with their role in the business. Or maybe they are dealing with personal issues that are affecting their work. Whatever the reason, try to work together to find a solution that benefits both the business and your relationship. Creating a Plan of Action Once you’ve had a conversation with your brother or sister, it’s time to create a plan of action. This plan should address any issues that were brought up during the conversation and outline clear expectations for both of you moving forward. Some things to consider when creating your plan of action include: Clearly defining each person’s role and responsibilities within the business. Establishing regular check-ins to discuss progress and address any concerns. Setting up a system for open communication and feedback. Identifying any areas where additional support or resources may be needed. Remember, the goal of this plan is to create a healthy and productive working environment for both you and your sibling. It’s not – by any means – to establish a rivalry or force a hierarchy. Seeking Outside Help If you’ve tried addressing the issue with your sibling and creating a plan of action, but things are still not improving, it may be time to seek outside help. This could mean hiring a business coach or consultant to help you navigate the situation, or even seeking the advice of a professional mediator if the situation is particularly difficult. Remember, there is no shame in asking for help. Running a small business is hard enough without the added stress of dealing with a sabotaging sibling. Seeking outside help can provide you with the guidance and support you need to overcome this challenge. What We’ve Learned Dealing with a sabotaging sibling in your small business can be a difficult and emotional experience. However, by recognizing the signs, addressing the issue, creating a plan of action, and seeking outside help if needed, you can overcome this challenge and continue to build a successful business. Want to Accomplish More? Do you want your company to grow faster and earn more while you spend more time with your family doing all the things you started your business to do? We can make that dream a reality. Give us 30 minutes and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 602-435-5474, or, if you prefer, send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer.

Read More »

How to Patch-Up a Sour Business Relationship for the New Year

Just about any type of relationship can go bad at practically any time. Business relationships are no exception to this sad phenomenon. Even Dave Ramsey says often, “The only ship that won’t sail is a partnership.” Statistics certainly prove this point true. But, it’s not just professional partnerships. Small business owners enter into many working relationships and any one of them can go bad. So, if you experienced this type of situation, there are ways to get back to doing business together, though both of you will need to make a commitment to make it work. Alternatives, Options, and Change If the relationship is irreconcilable, or it’s just not possible to do business again (because of an extraordinary circumstance like death, retirement, or the person has gone out of business), you’ll have to rely on other options, which can mean going with an alternative. But, before you jump right into another relationship, it’s usually best to try and work things out first. The common thread among all damaged relationships is the trust between both parties has been broken. Trust is the underrated lubricant for success in business, and rebuilding that trust is the first step in repairing any business relationship.–Inc.com After all, if you had a working relationship with this individual before, you both benefited from it and it makes sense to continue so neither one of you is forced to start from scratch again. However, if this isn’t feasible or even possible, make a list of alternative options and write down each one’s pros and cons. Make some preliminary contact and explore working together. You could even give one or more a trial run in order to determine how well it does or doesn’t work. How to Patch-Up a Sour Business Relationship Now, if there is a possibility that the relationship can be reconciled, there’s no real good reason not to try. Although, it will take quite a bit of commitment from both parties in order to have a viable future. Here is some effective advice for how to mend a broken business relationship: Start with introspection. Humans are keen on shifting blame away from themselves. People not only dislike making mistakes, but they also do not like being in the wrong. So, it’s up to you to take a good look at yourself first and be willing to accept any blame you deserve. Be humble but honest in your approach. Next, try to reconnect on a casual basis. If you have mutual interests, that’s a good place to start to reconnect. If necessary, take a gradual, measured approach and go slow. When the time is right, you can have a more candid discussion about what transpired but, don’t be blameful. Agree to leave the past behind for the sake of the future. Both of you will have to keep this promise in order to have any chance of working together again. Make it a point to put sensitive topics or events off-limits and focus on your future working relationship instead. Keep an open line of communication flowing. Once you agree to work together again, don’t let the same things get in the way. Stay in regular contact so that everyone’s expectations and needs are known. This will be a great way to help the relationship flourish and be beneficial to both parties. What other advice would you give entrepreneurs about patching up a sour business relationship? Please share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Read More »

Let’s Talk about the Office Break Room — Seriously

Did you know that a full 86 percent of employees believe breaks during the workday make them more productive? Also, 59 percent indicate that regular breaks increase work satisfaction. What’s more, 43 percent say breaks improve their personal happiness. Sure, this certainly isn’t the most exciting topic. But it’s an area of your workplace that does play a vital role and in more than one way. On the positive side, it’s where your team members go to relax and decompress, and even form interpersonal relationships. However, it can also be a battleground for bickering employees and an area that breeds and thrives on office politics. That’s why you should make it into a place that promotes good vibes, relaxation, and yes, a true break from work. Beware the Break Room Drama There’s no question that there are two sides to every break room in every office building. While it can provide an escape for employees, there are inevitable instances when it is hijacked and made into a room full of drama. In most cases, this is simply a matter of conflicting personalities and people who really like to push conflict on to others. It’s also a place where people who will avoid conflict tend to retreat, only to be thrust into an argument. Today’s workforce works extremely hard, putting in long hours that often spill into our home lives. People need a place to decompress at work, both physically and mentally. To do that effectively, the space should look and feel different from the rest of the office to distinguish it as a place to relax, rewind and collaborate with colleagues. —Business News Daily So, it’s important to understand that the room itself can be part of the problem. That’s right. If the break room environment, meaning it’s aesthetics and functionality are counterproductive, it won’t naturally be a relaxing place to take a little time away from the daily grind. Make no mistake about it, if the room feels empty, unwelcoming, and doesn’t provide ample distraction, people’s bad feelings are more liable to escape them and that’s obviously bad for company morale. How to Create an Effective Break Room in 3 Easy Steps The break room should be a place that feels separate from the workplace itself. Think about it as an oasis of sorts, a spot where employees can truly unplug for a few moments and enjoy their breaks away from their roles and responsibilities. Here are three simple ways to create an effective break room: Provide food and beverages. A nice variety of healthy snacks is always a good idea. Particularly, popular food and drinks, like water, sports drinks, and even energy drinks, along with fruits and vegetables and perhaps nuts and other snack foods. While you don’t have to stock the refrigerator and pantry with entire meals and common dry goods, there should be enough delicious little edibles and both cold and hot drinks available. Furnish it for comfort and relaxation. Whatever type of furnishings you put in the break room, don’t make the colossal mistake of turning it into a stuffy office or crowded cubicle. In other words, it should feel very homey, with comfortable furniture and even some fun pieces, like oversized bean bags and such. Additionally, having relaxing music playing in the background is a nice touch. The decor should also be aesthetically pleasing and it should forgo any corporate feel. Make it a fun place with games and entertainment. Not only should it be comfortable, the break room ought to be a fun place where employees are encouraged to escape with things like simple board games. Or, if your company culture permits it, table games like foosball or ping pong. Alternatively, you can put a television in the room but this particular idea may not work in every workplace environment. What other suggestions do you have that might be of help? Please share your thoughts and experiences by commenting so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Read More »