As a founder and co-founder of four companies, I got in the way of my first two. I impeded their development to the extent that I was the person most responsible for not allowing these companies to get to the next level. If it were not for either a board member or a mentor, I would not have gone on to have the success that I did with them.
Executive coach Marshall Goldsmith best summed up this pervasive human phenomenon in the title of his book, “What Got You Here, Won’t Get You There.”
Because the leader is so critical to the long term success of a company, I know that part of my agenda when coaching an entrepreneur/founder is have them learn and live this lesson: “what got you here won’t get you there.” To have a client apply this lesson, I must help them to see that the very strengths they bring to a company can often undermine its’ long term success. In time, most founders become their company’s own worst enemy.
In business, as in life, if you attempt to be something you are not, you end up not bringing your best to yourself, your employees, and your company.
I have observed three tell-tale paths founders take which eventually can lead to the demise of the very company they worked so hard to build:
1. They adopt the following way of thinking: “what is not right is obviously wrong.”
When the founder buys into the lie that there is always a right strategy, your company is in trouble. After the initial start-up phase, many founders become unwilling to aggressively seek opposing ideas and multiple scenarios from key employees or board members.
2. They spend too much time in one area to the exclusion of the other two.
There are three essential areas a business has to continually focus upon in order to develop: (1) product, (2) people, and (3) processes. A company initially gains traction because the founder has an exclusive focus on either a product or service. In fact, that is what most founders bring to a company — an idea, a passion, and a focus on a product or service. While this serves them well in the beginning, this very focus can be there undoing. Why? Because you cannot develop a company without also investing in people and processes. Excellent people and lean, quality-oriented processes are key requisites to enduring success.
3. They redefine their role as being the Chief Reactor Officer (CRO).
Face it — if you put your heart, your dollars, and countless hours into a venture, eventually you may believe that you have “earned the right” to react however you like. The more you believe you own something or someone, the more entitled you feel to control them. The more in control you perceive you are, the greater the danger that you will behave reactively versus proactively.
When the founder becomes the CRO, she cannot help but spend most of her time looking only for what is wrong. And when all you can see are problems, your “impatience quota” skyrockets to the point that you are both your own worst enemy and well on your way to being the enemy of your employees and the very company you founded.
You’ve brought your company this far. Don’t blow it by going down one of these three paths.
If you are an entrepreneur or founder, have you ever been guilty of exhibiting any of these three signs? Did you recognize them at the time, and if so, what did you do about it?
If you are not an entrepreneur or founder, have you ever worked for one who became the enemy of the company? What happened?
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