We know that leadership matters in business. How well you lead determines how well the company grows, and how well you lead your team determines their performance.
Here are the top 5 mistakes leaders make in business—and how to fix them—because even a handful could be wasting your time, money, and people.
- Lack of Vision
The number one mistake we see leaders make is a lack of vision. It’s not just about day-to-day goals but about where you’re going long-term—1 year, 3 years, 5 years. A vision should be like a guiding light or a North Star. For us at ActionCOACH, our vision is “World abundance through business reeducation.”
A vision isn’t just a goal like ‘let’s make $10 million’; it’s something that inspires and enrolls others. Make sure you’re focused on where you’re going—not just writing a vision statement, but being visionary each week, month, and quarter. Focus your team on the stars, not just the pebbles, so they have something to strive toward.
- Ignoring Core Values
The vision is why we do what we do. The culture is who we are.
First, put together a culture document that defines your organization’s core values. When your core values are clear, it helps people align with the organization. It allows new team members to see that this is a place they want to work and helps customers feel the same.
Leadership is about creating an environment where diversity and inclusion thrive, and that starts with clearly stating your core values. People want to feel they belong, and knowing they share values with others is key to that.
- Not recognizing achievement Not saying thank you is a big mistake. It doesn’t need to be a formal ‘Employee of the Month’—a simple text, note, email, or quick phone call can go a long way. Just acknowledging someone’s work, like saying, ‘Hey, I noticed the great job you did on X—thanks for that,’ can be a powerful form of recognition. This recognition goes a long way in building a positive and motivated team.
- Poor Communication Leaders need to learn communication. If you haven’t studied how to speak effectively or taken courses on understanding human behavior, Neuro-Linguistic Programming (NLP), or behavioral profiling, you should. Communication isn’t a born skill; it’s learned. As a leader, invest in improving your communication skills with your team. The more you communicate, the better your company will be.
- Not Developing the Team Building your team isn’t just about team-building activities; it’s about developing the people in your team. Through training programs and coaching, helping your people improve makes your company better. The more you build up your team, the easier it is to lead them. As they become more accountable and take ownership, they’ll, in turn, help develop their own teams. A rising tide lifts all boats—the more you invest in training and growth, the better your people will perform, and the better you’ll be as a leader.
Conclusion
Helping individuals become great leaders is part of our purpose at ActionCOACH Central Ohio. We offer a wide range of resources to support you in growing your business and developing a strong team, including management training, leadership training, and coaching programs. We encourage you to connect with us as you continue your journey of learning and growth.
