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DECEMBER/JANUARY 2020 AFTERMARKET 15 www.aftermarketonline.net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important as it often provides new ideas and perspectives or can simply endorse your view reassuring you that you are heading the right way. Business breakfast clubs can work well or develop a small network of people you can trust and use them to talk things through and get their input. 5. Don’t employ another you! Many business owners employ people who are similar to themselves - so the skills gaps are not actually filled. It's also common for recruitment to be left until the last minute and so a decision is made in haste, to be regretted at leisure! This leads to problems being overlooked, references are not checked, or business partners are not consulted. Also remember, no matter how good someone is, if there is a difference in their work ethics and values, then the only questions will be "When will the row happen?" and "On what subject will it be?" before they leave or you have to fire them. 6. Who are you? Many business owners refuse to face their fears and insecurities, often because they don't want to appear stupid or expose a lack of knowledge. They don't trust other people and want to hold on to everything themselves because they believe no one can do it as well as they can. Ultimately this means they are less able to build an appropriate team around them. Be brutally honest with yourself, about your strengths and weaknesses and their impact on others. Ensure that you know how to be a great delegator. Learn how to delegate, motivate and communicate with your staff – it is a key man management skill and avoid just dumping or micro-managing. 7. Make a new circle around you Who's challenging you and testing your business development strategy? Get out of your comfort zone. Very often business owners surround themselves with people from the same sector. The thinking goes something like; ‘unless you've been man and boy in my sector for 50 years – you couldn't possibly have anything to contribute.’ This may apply in some situations, but innovation comes from picking up ideas from outside ‘conventional thinking’. Mixing with others will increase your chances of doing this. By avoiding these ‘seven deadly sins’, your business has a far greater chance of not just surviving, but thriving. Take a look at each of these areas and ask yourself some tough questions - and be honest with yourself! Your answers and the resulting actions you take could make all the difference to your future wealth, health and happiness. xenconsultancy.com It is unlikey that any one business owner knows everything he needs to know ”

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