They say the definition of insanity is doing the same thing over and over and expecting different results.
By this definition, I think quite a few business owners would qualify as insane.
But in all seriousness—as entrepreneurs and business owners, so often we get stuck in our own ways of thinking, imprisoned in our own perspectives. Like spiders spinning the same web over and over, we’re unable to see a different way through our challenges.
If this resonates with you, then answer this: Who do you have in your life that you can talk with honestly and openly about your struggles in your business? Who do you have who can listen and encourage and guide you when the going gets rough?
“If you want to do a few small things right, do them yourself. If you want to do great things and make a big impact, learn to delegate,” famously said John C. Maxwell.
I’ve spoken to hundreds of business owners. And there’s one thing I see time and time again: What they struggle with most, and what’s holding their business back from serious growth, is not a lack of business skills or a faulty product.
It’s that they’re simply not delegating enough.
A few years ago, investors and analysts had put brick-and-mortar companies like RadioShack and Best Buy on a death watch. There seemed to be no way they could compete against the giant Amazon—with its famously low prices, virtually limitless selection, and two-day delivery options—and come out alive.
Living up to expectations, RadioShack filed bankruptcy in 2015—and again in 2017, after a futile attempt at reviving itself.
Meanwhile, Best Buy managed to pull off one of the strongest corporate comebacks in recent history.
The question on everyone’s mind is, Why?
Next week, Ptex Group will be closing its doors for a few short days as our hardworking team plans to celebrate the wonderful Jewish holiday of Pesach (Passover).
The benefits of taking a break are well-documented. The ability to catch our breath, to clear our minds. Revamp and re-energize.
What is often overlooked, however, is the importance of proper preparation prior to stepping away from the hustle and bustle of our business lives. Read more
The calendar has recently turned, and, with the change in year comes one constant: people setting grand resolutions and failing spectacularly.
No, this isn’t some deep-seated lack of faith in humanity – it’s fact. Research shows only eight percent of people actually achieve their New Year’s resolutions. This failure has, unfortunately, become so comically commonplace that it’s expected.
The question is, why? Read more
Here’s a scary thought: Try and picture a world without email.
Indeed, it’s hard to fathom our world functioning as we know it without the wonder that is email. It’s cheap, it’s fast, it’s convenient, it’s just… easy. Few words can be as harrowing and bone-chilling for a business as “email is down.”
But for all its immeasurable benefits, there is a dark side to email. One that can eat away at the very core of any business – even the most successful.
Ptex recently received quite a compliment. As of July, we are officially certified as a Great Place to Work® business.
To receive this prestigious accolade, GPW asked our employees to participate in their anonymous survey on their feelings regarding the workplace environment, culture, management, etc. and how it affected – positively or negatively – their job performance. I myself was not allowed to take part in this.
The unanimously positive results of the survey was quite touching.
Professor Jeffrey Pfeffer, of Stanford University, accurately summed up the responsibility of a leader:
“Your most important task as a leader is to teach people how to think and ask the right questions, so that the world doesn’t fall apart if you take a day off.”
Perhaps no concept in business is more essential, and at the same time so colossally misunderstood, than delegation. Any rational person knows that they have strengths and limitations. It follows, that tasks should be divvied based on each employees abilities.
Yet for some reason, many business struggle to properly delegate—and the consequences are severe. Sloppy projects. Missed deadlines. Angry clients.
Lather, rinse, repeat.