Business Evolution: How to become an entrepreneur

When you rule by fear it is a sure disaster sign for failure

DUBAI: Whether you’re an entrepreneur and business owner or a corporate senior executive, this very significant mindset change is the order of the day and has been for a few years.

It is practiced and applied in many companies and organizations, as it has a remarkable effect on visible changes pertaining to productivity, performance, achieving targets and goals and imminent growth.

TagsTheda Muler

When you rule by fear and instill uncertainty and insecurity within an environment it is a sure disaster sign for failure – as the old habits of historical management by wielding power, has long lost its luster and is regarded as Stone Age practice and ethics.

The human factor is absolutely key where most key decisions are made based on employees well-being, will to perform, co-operation, continuing to nurture invaluable customer relationships and much more that attribute to a company’s success.

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In order to achieve true meaningful success, which predominantly incorporates how employees are treated and managed – entrepreneurs, business owners and corporate executives should master the art of Game Changing, effectively designating and truly empowering their employees to yield the most effective results.

In the business world today being a part of the team, rather than acting like a boss, someone superior, sitting behind a closed door with no open door policy, simply implies that:

a. You are not susceptible to change;

b. You operate your outfit with an inflated ego and a major degree of entitlement, which is sincerely old-school and totally out of fashion as it bears no weight, except instill fear in employees because you suppress their human spirit, willingness to co-operate, perform well and thrive, in an environment where their input would have been invaluable.

c. Your selection process of new employees is still dominated by certifications, rather than the true personality who has acquired the relevant experience and is oozing with passion for this specific opportunity, because it is obvious they will achieve great results. Companies still opt to choose the ‘grey men’ at the most senior levels who do not have the ability to conform to current ever-changing trends and who thrive on complacency and routine ridden daily schedules. This kills the spirit of employees and the company’s performance.

d. You are unable to make decisions without drowning the decision with a ton of risks, so rather than progressing in decisiveness, the regressing factor kicks in. This creates a negative environment which in turn is transposed to employees, so you cannot expect peak performance because any company or organization’s performance is as good as its leader.

e. Without your employees, especially those performers and loyal individuals, there would be no company, where now is the time to enhance the fact that your employees are an asset, rather than a liability. When you realize that the human spirit will be at your beck and call, doing their utmost beyond the call of duty if you operate with authenticity from the heart with them, then you never need to close your office door, lock drawers, question every employees move and whereabouts, because you will know that you have not only gained their trust, but that they will exceed your expectations and you don’t have to remind them, it will be a natural progression.

f. When you have failed and the failure is obvious, call a team meeting with your employees, be a part of that team, solicit their input, expertise and advice and you will be amazed at the many solutions that will be presented because you should never underestimate even the most junior employee in these instances. Create an entrepreneur environment that brings out the best in people, because where they have passion, it will a positive contribution that could transform your next attempt to succeed where you failed but key is, you were willing to participate as part of the team and just there you would win respect.

g. Learn to ‘give and take’, so if an employee is late but you often see them working after everyone has left the building, then you need to display flexibility and fairness especially when you know the employee is a good performer and you really cannot fault them. Rigidity is a destructive force in business, it destroys environments and does not foster creating harmonious environments, it creates distrust and animosity which in turn is not a foundation for creating success.

Since the 2008 global downturn where many people lost their jobs and vast amounts of money and companies crashed, people recreated themselves initiating new businesses, leveraging on people and getting the best out of them achieving great success. Due to the major losses all-round, business owners and company executives globally realized that Game Changing was the key and they successfully applied those principles in all facets of their lives and business and today we witness all those success stories which we know, were based on these key factors of change.

  • By Theda Muller

Theda Muller is a UAE-based author of two books: Embrace Financial Freedom Volume One: 10 Proven Ways To Release Debt And Emotional Fears In Today’s Economy, and Volume Two: Releasing Fear And Bouncing Back From A Debt Crisis. She also conducts webinars and workshops on debt recovery.]

Note: The views expressed are the author’s own and do not reflect in any way, the views of Emirates News 24|7. Readers are advised to carry out their own due diligence before taking any decision.