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There are many roads to Rio, so they say. But there is one overwhelming method of appraising the effectiveness of a business leader. Outcomes. We can invent lots of metrics to measure progress for a leader, including revenue, profit, employee satisfaction, cost containment, percentage of available market, and more. But these are all individual roads to Rio – which is the stated goal for the organization.
Many business professionals and entrepreneurs I know are quick to attribute success of a peer to luck, rather than any recognition of a unique strategy or personal attributes. Over my many years as a business advisor and angel investor, I have become a firm believer in the opposite position, that you make your own luck , which drives business success, rather than the other way around.
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I’m sure that every one of us who has been out in the business world for a few years can look back with perfect hindsight and name a few college courses that we should have taken. What’s more disconcerting to me is that I can name a few that aren’t usually even offered, resulting in more than a few students graduating ill-prepared for the real business world!
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In my years of mentoring entrepreneurs, a problem I have seen too often is low self-esteem, and over-compensating through arrogance and ego. These entrepreneurs find it hard to respect customers or team members, and their ventures usually fail. As a team member, low self-esteem leads to low confidence, poor productivity, and no job satisfaction. Fortunately, both can be fixed.
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