Business Education

Custer’s Last Stand, the Dade Massacre, and Your Business

On June 25th, 1876, Lieutenant Colonel George Armstrong Custer infamously led 210 men into battle against 2,000 Sioux and Cheyenne warriors. Although it’s commonly believed no U.S. soldier survived, historians believe there was at least one man who made it out of the conflict alive.

Approximately 41 years earlier, a lesser-known U.S. military commander led his men into a similarly disastrous situation. Army General Francis L. Dade 107 took men on a mission to relocate a Seminole tribe. But, the soldiers were ambushed by 180 Black Seminole warriors, and just 3 of Dade’s men survived.

In both instances, the leaders ignored advanced intelligence and severely overestimated their forces’ abilities to carry out their respective missions. Additionally, both tragedies were completely avoidable, but neither leader would listen to reason and allowed arrogance and the pursuit of glory to cloud their judgment, resulting in senseless slaughters.

Entrepreneurs should take these historical tragedies to heart. Particularly when they don’t see any real downsides. It’s not easy to get past legitimate confidence but it’s quite dangerous to overestimate what can be realistically accomplished. So, let’s take a few moments to look at how such attitudes can lead to unnecessary, messy, and costly mistakes, and offer strategies for entrepreneurs to maintain a healthy balance of confidence without veering into hubris.

The Perils of Arrogance in Small Business: Avoiding Costly Mistakes

Small business owners often wear many hats, juggling the roles of visionary, manager, marketer, and more. While confidence is a crucial trait for any entrepreneur, unchecked arrogance and overconfidence can lead to a series of missteps that can threaten the very survival of a business.

The Pitfalls of Arrogance

It all starts with ignoring market feedback. Arrogant business owners might dismiss customer feedback or market research, believing their vision is infallible. This can lead to products or services that don’t resonate with the market, resulting in poor sales and wasted resources. For instance, a restaurant owner might ignore diner complaints about the menu, leading to decreased patronage. But, this example certainly isn’t all. Here are some more common mistakes:

Overlooking financial prudence. Overconfidence can lead to lavish spending on non-essential items or ventures without proper financial analysis. This might manifest as spending on an extravagant office space or an unnecessary expansion, draining cash reserves that could have been used for more critical operations.
Underestimating competition. Thinking you have no real competitors can blindside a business when a new or existing competitor gains market share. An example is a local bookstore owner who believes their personal touch is enough, not noticing or preparing for the rise of online book retailing.
Poor decision making. Arrogance can foster a culture where questioning decisions is discouraged, leading to groupthink. Decisions made without diverse input can miss critical flaws, as seen in businesses that pursue a flawed product launch without sufficient critique.

And last but not least – neglecting relationships. Overconfidence can make owners dismissive of their employees, suppliers, or partners, damaging relationships vital for business success. This can lead to high staff turnover, supply chain issues, or missed collaborative opportunities.

Strategies to Avoid These Mistakes

Fortunately, there are several strategies you can use to prevent your company (and yourself) from falling into such traps. However, none of these measures are easy and will prove especially difficult. And it begins with the most difficult – the ability to cultivate humility. You should regularly seek and genuinely consider feedback from employees, customers, and peers. Humility involves acknowledging that you don’t have all the answers and being open to learning. Still, this probably won’t be enough. So, here are some more steps to take:

Engage in continuous learning. Stay informed about industry trends, new technologies, and business strategies. Workshops, seminars, and reading can keep your knowledge current and prevent complacency.
Financial discipline. Implement strict budgeting and financial oversight. Use cash flow projections and financial advisors if necessary to make informed spending decisions rather than emotional ones.
Competitive analysis. Regularly analyze competitors not just for weaknesses but also for strengths and innovations. Adopt a mindset of healthy competition rather than dismissive superiority.
Inclusive decision making. Foster an environment where team members feel safe to challenge ideas. Diverse perspectives can lead to more robust business strategies.
Relationship management. Invest in your relationships. Acknowledge the contributions of your team, maintain good terms with suppliers, and engage with your community or customer base.

What’s more, utilize basic risk management. Always consider the worst-case scenarios in your planning. This doesn’t mean being pessimistic but rather being prepared for various outcomes, which can mitigate overconfidence.

Arrogance and overconfidence are not just personal flaws; they are business risks. While confidence is essential in entrepreneurship, it must be balanced with humility, curiosity, and a willingness to adapt.

By fostering an environment of continuous learning and open communication, small business owners can not only avoid costly mistakes but also pave the way for sustainable growth and innovation.

Remember, in the world of business, it’s not about being the loudest voice in the room but about ensuring that voice is informed, considered, and collaborative.

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 480-240-1226, 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.

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The Hidden Risk of Undercutting Prices in Small Business

December 4, 2025 No Comments

We’ve all heard that giving people more for less is a clever business strategy. After
all, who doesn’t want to pay a lower price for a given product or service? Most
consumers will jump at the opportunity to save a little money. But this philosophy
doesn’t always apply. And sometimes, it can backfire big time. That’s right—lower
prices don’t always translate into higher sales levels. In fact, lower prices may have a detrimental impact on a business’s bottom line. But why?

5 Steps to Immediately Take when a Business Partner Quits

February 11, 2020 No Comments

We’ve already gone over the most common signs a business partnership is in trouble. Dave Ramsey is well known for saying that “The only ship that won’t sail is a partnership.” Indeed, far many more business partnerships fail then succeed. But, what happens after a partner leaves the company? What do you do then? 5 Steps to Immediate Take when a Business Partner Quits Your first step — and perhaps the most important step — is to take a step back. Don’t panic. Even if it’s abrupt, now is not the time to come apart at the seams. Though easier said than done, it’s imperative to remain calm in order to think clearly. If you don’t maintain control, it will only add to the anxiety and uncertainty. At the beginning of any business partnership, the partners usually envision a long-term relationship. Unfortunately, expectations notwithstanding, longevity is often limited; the goals and expectations of the individual partners will change at least to some degree over a period of time. This is why an exit strategy must be developed by and between all partners. It will ensure that if one partner leaves the company, his or her absence will not destroy the integrity of the company and its ability to stay afloat. —Entrepreneur.com Second, get in the know. Jump into his or her schedule, work product, etc, and find out exactly what’s been going on. This is where you’ll learn what he or she was actually doing. And it could reveal some very upsetting findings. Although, if his or her work was exceptional, that too might also cause you to panic because now it’s an even bigger role to fill. What to Do when a Business Partner Leaves When a business partner leaves the company, you not only have to remain calm and learn exactly what’s been happening in his or her roll, you’ll also have to do the following for the sake of continuity: Assess what’s necessary. Next, you’ll need to take on at least some of his or her job roles. It’s really dependent on the particular situation, but you might consider absorbing one or more of his or her roles in the business. In the alternative, it might be better to parcel the work out to others within the company, or even outsource. Delegate responsibilities. If your former partner had people under him or her, these people will likely have a wealth of knowledge. They are also ideal candidates to delegate responsibilities. That will help to keep things going without really missing a beat. Formulate a plan for the future. Once you’ve filled the void and things settle down, it’s time to think about what to do in the future. Even if you don’t take on a new business partner, it’s important to have a continuity plan for the sake of the company. This is where an experienced business consultant or coach’s advice can really come in handy. What other advice do you have? Please comment and let us know your thoughts and experiences! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Studies and Statistics Show Gen Zers Prefer Entrepreneurship – So How Do Small Businesses Attract Young Talent?

February 9, 2024 No Comments

Studies and Statistics Show Gen Zers Prefer Entrepreneurship – So How Do Small Businesses Attract Young Talent? (WBC) In recent years, the entrepreneurial spirit has been on the rise among the Gen Z population. With more and more young people opting to start their own companies, small businesses face a unique challenge in attracting young talent. That necessitates learning various strategies small businesses can employ to attract Gen Z talent and remain competitive in today’s job market. Understanding Gen Z’s Entrepreneurial Drive The demographic cohort born between the mid-1990s and the early 2010s – Gen Z – has grown up in a world of rapid technological advancements, social media, and global connectivity. This has fostered a strong sense of independence and an entrepreneurial mindset among many members of this generation. Gen Zers are known for their desire to make a positive impact on the world, their focus on social and environmental issues, and their preference for flexible work arrangements. By understanding these characteristics, small businesses can tailor their recruitment strategies to appeal to this demographic. Strategies for Attracting Gen Z Talent In a landscape where Gen Zers are increasingly drawn to the allure of entrepreneurship and startup ventures, attracting their talent to small businesses may seem like a challenge. However, there are strategic approaches that savvy small business owners can employ to entice the entrepreneurial-minded Gen Z workforce. Offer flexible work arrangements. Gen Z values work-life balance and flexibility. Small businesses can attract young talent by offering flexible work hours, remote work options, and a relaxed company culture that promotes a healthy work-life balance. Provide opportunities for growth and development. Gen Zers are eager to learn and grow professionally. Small businesses can attract young talent by offering training programs, mentorship opportunities, and clear career progression paths. Leverage technology. Gen Z is the first generation to grow up as digital natives. Small businesses should embrace technology and digital tools to streamline their operations and appeal to young talent. Offer competitive compensation and benefits. While Gen Zers value purpose and impact, they obviousl expect fair compensation and benefits. Small businesses should offer competitive salaries, health insurance, and retirement plans to attract young talent. Emphasize purpose and impact. Gen Zers are highly motivated by the desire to make a difference in the world. Small businesses should highlight the social and environmental impact of their work, as well as the company’s commitment to making a positive change. And, here’s a bonus tip – don’t be afraid to embrace their entrepreneurial spirit! Offer internship programs focused on innovation, consider employee ownership options, or even collaborate with them on side projects or ventures. Remember, Gen Z sees work as an extension of their lives, not just a means to an end. Find ways to integrate their entrepreneurial ambitions with your business goals, and you’ll create a win-win scenario for everyone. By adapting your approach and creating an environment that resonates with their values and aspirations, your small business can become a magnet for the dynamic and innovative talent of Gen Z, propelling your company to new heights in the years to come. So, open your doors to the entrepreneurial spirit, and watch your hive buzz with the energy of the future! 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.