About 15 years ago I was in the lobby of one of SE Michigan’s Community Mental Health Agencies. Two, (2) of its executives were discussing what they had just viewed in the parking lot. This was to be a meeting of adult foster care providers and these two, (2) gentlemen were bothered by how many providers arrived in Mercedes, Lexus, BWM and Cadillac products. I was floored. Providers whose residential services protected the most vulnerable in our society suddenly are not entitled to the business benefits associated with what they do? Craziness all around.
Employers can make the same mistake. Some call it “reverse entitlement” while others call it “growth shaming.” In the minds of these gentleman the money they oversaw was benefiting others. So what? If as an employer, you have fallen into the same trap now is the time to check your personality and make sure it does not cross that line.
I celebrate what I have and those who helped me to obtain it.
Has your biller grown financially? Well, think about it: What they bill results in deposits into your account and keeps you afloat and provides you with a lifestyle. Does a technician or a therapist perform services to those you are called upon to serve; i.e., your patients, customers, clients, etc? Are you not billing and being reimbursed for their work, over and above what they earn? Why should they not be allowed to prosper, and why should that bother you?
How about a technical advisor? Have they solved problems, provided advice, given direction, etc. that results in not only you earning but perhaps avoiding mistakes or solving problems that could have cost you – if not the business – a good piece of it? Should their prosperity be a concern for you at all? No.
Let’s take it a few steps further: A business owner’s personality can have a significant impact on the success of your business. While a strong personality can be a positive attribute for a business owner, certain personality traits can have a detrimental effect on the business. Here are some ways in which a business owner’s personality can destroy the business:
- Poor Communication Skills: If a business owner has poor communication skills, it can lead to misunderstandings, misinterpretations, and confusion among employees, customers, and stakeholders. This can lead to decreased productivity, low employee morale, and loss of business.
- Lack of Empathy: A business owner who lacks empathy towards their employees, customers, and stakeholders can create a toxic work environment. Employees may feel undervalued, unappreciated, and unhappy, which can lead to high employee turnover and loss of business. Are there limits? Yes. We do not extend empathy to the gamers who seek sympathy for non-existent or exaggerated issues. The death of a third cousin you have not seen since the 1990’s is not a basis for three, (3) days off! And the one who checks their inter-company email once a month can just leave. Get it? Yes, empathy in the workplace has limits.
- Micromanagement: A business owner who micromanages every aspect of their business can stifle creativity and innovation. This can lead to employees feeling disempowered, demotivated, and frustrated, which can ultimately lead to decreased productivity and loss of business.
- Poor Decision Making: If a business owner makes poor decisions based on personal biases, emotions, or lack of information, it can have a negative impact on the business. This can result in lost opportunities, wasted resources, and decreased profits.
- Inflexibility: A business owner who is inflexible and resistant to change can hinder their business’s growth and development. This can lead to missed opportunities, decreased competitiveness, and ultimately, loss of business. Try selling a business that has not embraced the latest in technology. It will be a special challenge.
In summary, a business owner’s personality can have a significant impact on the success of your business, because it impacts everything and yet can be modified to fit the need. It is important for business owners to be aware of your personal strengths and weaknesses and work on improving them to ensure the success of the business.
The opposite of that can be catastrophic.
Some of my national team. I appreciate them all. I tell them and I show it. No one is here because they need a job, but because I chose them for a specific function.