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Stay Alert! These 5 People May Destroy Your Business

Stay Alert! These 5 People May Destroy Your Business

As humans, we are all liable to experience emotional peaks and troughs throughout our lives. This is an inescapable consequence of life–our emotional state is heavily influenced by those around us. According to a 2010 study conducted by the Proceedings of the Royal Society, every positive person that you include in your life increases your chances of being happy by 11%. In contrast, it only takes one sad friend or acquaintance to upset this balance and make you unhappy, so your choice of friends and confidants is critically important.

This principle can also be applied to your business, where the people that you employ and partner with have a huge impact on future success or failure. With this in mind, you need to beware of the following five personality types and their potential to destroy your business:

1. The Flat-track Bully

As a general rule, bullies are loud, aggressive and outwardly confident individuals who are have an ability to initially stand out from the crowd and earn recognition from their superiors. This is why they are such a danger to your business: they have a tendency to create a positive impression on employers while distressing their colleagues and having a negative impact on productivity. As these individuals progress at the expense of others and gain greater authority, your business will begin to deteriorate beneath your very nose.

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The biggest issue with bullies is that they are often unable to do their job particularly well, especially those who advance into management roles. Once afforded authority, bullies are likely to wield this in a discriminating manner and target weaker or more skilled colleagues in a bid to undermine their confidence. This will cause your business to lose top talent and experience reduced productivity levels, while it will also fall prey to an increase in stress-related illness in the workplace. To avoid this personality type, you must understand their behavior in detail while also ensuring that your employees have a clear definition of what constitutes bullying and how to report it.

2. The Resentful Former Colleague

Occasionally, you may be required to employ individuals that you do not like. While this may sound strange, there are times where you must sacrifice personal feelings in order to optimize top talent and drive your business forward. This is most likely to occur as your launch your start-up venture, since building a successful venture requires you to maximize every possible resource at your disposal. So if you have a former colleague with considerable skill in their field and the ability to help your business grow, you may need to approach them regardless of your personal relationship.

This is a balancing act, however, as a deep dislike for another human being can create mistrust and considerable tension over time. The effects of this can be diverse and extremely impactful, whether attempting to manage a difficult relationship distracts you from achieving your business goals, or the employee in question begins to resent your superior status and develops a sense of indifference to the future of the firm. Try to consider this balance before taking such an individual on, weighing the potential cost to the business against the value that the individual can bring. It may well be that you are simply too alike, in which case the issues can be resolved through learning and communication.

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3. The Ambitious Self-server

There are a number of reasons why stable businesses fail and become insolvent, with one of the most common being the poor retention of talented employees. It is with this in mind that you must beware of ambitious self-servers, as these characters are similar to bullies in that they will often strive to get ahead at the expense of others rather than through their own merit. While bullies use their aggression to force mistakes from their colleagues and report these to management, an ambitious self-server is far more likely to influence senior colleagues directly through charm and persuasion.

Given that this personality type are only interested in their own advancement as opposed to the progression of the business, this often leads to poor and misplaced decision making on your behalf. This can have a huge impact on the retention of talented employees, as some may be unfairly let go while others simply choose to leave the company and work for an employer that respects ability and application rather than charm. To avoid this, you need to take ownership of each individual business decision and make choices based on fixed criteria.

4. The Narcissist

Teamwork makes the dream work, right? After all, businesses thrive on the collaboration between diverse and skilled teams which combine multiple strengths in the pursuit of a single, professional goal. While most personality types can thrive when given a role in a team of people, one that struggles in this regard is the narcissist. These individuals are always more consumed with themselves than with their team-mates or the business as a whole, meaning that they often fail to take direct action when working with others.

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While narcissists will not necessarily employ underhand tactics to further themselves, they are almost always arrogant and lack empathy for the people around them. This makes it extremely unlikely that they would work late to cover an absence or take on additional work to help complete a project, unless, of course, this would result in some form of individual recognition or individual reward. If you do discover a narcissist within your ranks, strive to utilize their self-serving motivation by giving them individual roles in which they can shape their own destiny (such as a commission-based sales job). This will turn a threat into an asset and help to maximize the talent at your disposal.

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    5. The Negative Energy Sapper

    Let’s face facts: there are some people in life who possess a decidedly negative energy. Whether this is part of their innate personality or the result of experience, such negativity can become consuming when it is projected onto your decisions and business management. This is debilitating for any business, as it encourages decisions that are made out of fear and conservatism rather than sound commercial logic and the fundamental balance between risk and reward. Just as aggression and recklessness in business can lead to losses, so too negativity can cause firms to stagnate slowly over time.

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    The impact of negativity is also felt more substantially throughout the whole of the business, since it begins to alter the outlook of individual employees and creates incredibly low morale. This can ultimately lead to the loss of core human assets and talented employees, while also driving down productivity and making it difficult to effectively engage customers. While negative individuals are often unaware of their impact and are not necessarily at fault for the way in which they think, you should avoid hiring those with excessive amounts of negative energy if you wish to develop and expand your venture.

    Featured photo credit: Pixabay via pixabay.com

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    Last Updated on May 15, 2019

    10 Most Successful Entrepreneurs and What We Can Learn from Them

    10 Most Successful Entrepreneurs and What We Can Learn from Them

    Apart from making crucial decisions for their own businesses, entrepreneurs innovate and grow their ideas. Albeit there being no cookie-cutter answer that fits everyone’s experiences, taking a look at some of the most successful entrepreneurs today, you might spot some similar traits and characteristics.

    Starting and nurturing a business entails a great amount of hard work and commitment. However, for aspiring entrepreneurs who are prepared to dedicate themselves to their vision, here are 10 most successful entrepreneurs you can learn from:

    1. Melanie Perkins: Know Your Worth and Keep Trying

      Melanie Perkins founded Canva, a Sydney-based business valued at $1Billion having successfully raised a number of rounds of successful funding and boasting more than 10 Million users in 179 countries.[1]

      She told BBC that one of the biggest challenges she faced getting into the business was talking about her company’s accomplishments when she first got to Silicon Valley. She attributed this difficulty to a cultural difference where Australians tend to ‘talk down’ their achievements and this would slow down her fundraising progress for a few years.

      Despite hundreds of rejections, Melanie emerged three years later with a much clearer strategy and stronger investor pitch that prompted a series of fundraising rounds netting the company $82Million of funding in total.[2]

      2. Bill Gates: Keep Learning and Exploring

        If you don’t know Bill Gates, you likely know the company he founded – Microsoft.

        Bill Gates’ story is a prime example of nurturing an idea that might seem out of this world but make sense in the future. One of the most successful entrepreneurs in history did not complete his degree at Harvard University to pursue a vision that the technology would soon become the future.

        He told a white lie to Altair, saying that he had made a computer program for them, therefore pushing himself to create a system that would change modern history.

        “The most important speed issue is convincing everyone that the company’s survival depends on moving as fast as possible.”

        Gates’ success is built on self-improvement and the seeds of an idea.

        3. Elon Musk: Never Stop Innovating

          Traditional thinking suggests that in order to become a successful entrepreneur, one must focus in a single field or industry.

          Elon Musk, however, breaks that rule.

          Today, the multifaceted tech entrepreneur, investor, and engineer advocates for the diversification of skills and businesses by delving into various fields of interest.

          When done right, skills in a single domain can be carried over then applied into contrasting industries to create something new the world might need. Musk owes his accomplishments to a constant thirst for knowledge.

          Having birthed Tesla and a myriad of products across the arenas of aeronautics and software design, Musk continues to evolve as an entrepreneur and plans to innovate for the long haul.

          4. Richard Branson: Develop People First

            British entrepreneur Richard Branson founded Virgin Records in the early 1970s. Virgin Records has since grown into the Virgin Group, today responsible for over 400 companies.

            The billionaire is strongly particular about working with a team that shares his core values and aspirations.

            Branson believes that managing a business can become taxing, thus he acknowledges his employees for putting in the effort that they have.

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            A good leader knows how to raise morale for positive productivity. Utilising emotional intelligence and compassion is a game changer in seeing results within a team.

            Branson’s supports the idea of nurturing a positive work environment, with the belief that credentials must go hand-in-hand with an enthusiasm for work.

            5. Jeff Bezos: A Relentless Focus on Customer Satisfaction

              Having founded Amazon, Jeff Bezos is known to be one of America’s most successful entrepreneurs. The e-commerce pioneer fixates himself on angry customers with the belief that a business’s loopholes are found in the experiences of unsatisfied customers.

              For the 8th year in a row, customers have ranked Amazon as the number one in customer service (according to the American Customer Satisfaction Index).

              While numerous companies ignore unhappy customers, Bezos found success in learning from reviews and surveys. By focusing on customer service, Amazon shows they care, both for their customers and for rising above their competitors.

              While praise and recognition are signs that a business is accelerating, criticism is an opportunity to improve a product or a service.

              6. Mark Zuckerberg: Start Small, Think Big

                Valued at over 55 billion dollars today, Mark Zuckerberg built the first version of what would become a social networking giant in his Harvard University dorm room. As one of the world’s youngest entrepreneurs, Zuckerberg undoubtedly took countless calculated risks to get his brilliant idea to its current status with 2.38 billion active monthly users.

                “The biggest risk is not taking any risk.”

                He’s always daring to explore with a fearless mindset.

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                The young tech entrepreneur never shied away from innovating outside of the box. Soon after Facebook became a hit to users and advertisers, big corporations took interest in buying Facebook from Zuckerberg.

                However, he took the risk and decided to stay with his creation. Turning down billions of dollars offered by Yahoo CEO, Terry Semel, he envisioned turning his brainchild into something much bigger than what it already was then.

                7. Steve Jobs: Live Your Own Dreams

                  Steve Jobs lived a rocky path all his life and an aspect of which is a tumultuous career.

                  The founder of Apple endorsed his beliefs on the temporality of life and limitations of time. He preached about the importance of working on the very legacies people wish to leave behind, an achievement he’s undoubtedly etched into the the archives of human history.

                  Never one to hide under someone’s shadow, Jobs did not live by anybody else’s principles so he formed his own. He tirelessly dedicated himself to building a unique brand of products that became the benchmark for contemporary technology.

                  After his highs and lows through his brief battle with cancer, Jobs concludes with yet another lesson to takeaway from his remarkable life. “No matter how much money you have, even the richest man can’t buy time.”

                  8. Warren Buffett: Balance is Essential to Success

                    Despite being the third wealthiest person in the world, Warrant Buffett sported a frugal lifestyle for most of his life.

                    After buying a house in Omaha, Nebraska for just above 31,000 dollars, he has lived there since 1958. As a leading investor and a founder at Berkshire Hathaway, Buffett believes in setting aside an amount to save and spend only on necessities.

                    With a long term goal as a top priority in mind always, treating oneself can be sustainable once in a while. He advices to save money by deciding first and foremost what aspects to scrimp on and what aspects to splurge on to ensure a happy and balanced lifestyle.

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                    9. Jack Ma: Never Give up

                      On every journey to success, everybody stumbles and arrives at roadblocks. Some more than most, like Jack Ma, who survived countless rejections and failures only to get back up and brave every storm.

                      Ma is the founder of multinational technology conglomerate Alibaba Group. Despite being rejected to Harvard after every one of his 10 applications, Ma was never defeated.

                      His grit and tenacity is a fine testament to the fact that grades do not determine a future. While qualifications on paper are important, the development of skills and an attitude is just as helpful in making a recipe for success.

                      Despite finding himself in the verge of bankruptcy in the 1990s, Jack Ma possessed the resilience to put one foot in front of the other until he finally made it. “It’s important to have patience,” he says.

                      10. Tan Min Liang: Passion Can Pay Off

                        Tan Min Liang is the founder of the leading high-performance gaming hardware, Razer. Always on the look out for new opportunities to connect and scale his business, Tan has been bold in making many of his life’s decisions.

                        Having deviated from a traditional path set by a family that consists of doctors and lawyers, Tan was to find his life’s work and passion while gaming with his older brother.

                        The idea was simple: there were so many games out there to play, however, there were hardly any gaming equipment to match this.

                        So he dropped out of law and began going a different direction, into creating solutions in the gaming industry. At the start of 2019, Tan wrote to tech luminary Elon Musk to which Musk’s reply suggested of a joint venture between two of the most successful entrepreneurs today.

                        Final Thoughts

                        In today’s cutthroat world, the road to becoming a successful entrepreneur is a long and arduous process trailed with ups and downs. A valuable lesson that a good hand of entrepreneurs would love to convey to aspiring entrepreneurs is to keep the spirit of innovation and to explore uncharted waters.

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                        Learning from experience and failure is one direction to a desired end goal. Exhibiting the same dedication and grit so many entrepreneurs have through their unexpected careers – today’s budding visionaries ought to hang on their dreams and leave room for improvement along the way.

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                        Featured photo credit: Patrick Tomasso via unsplash.com

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