Every business goes through a growth cycle depending on their industry and the speed of how fast they are growing. Leaders need to be able to predict and remain adaptable if changes influence and derail a business. Fluctuations in the economy, going through an acquisition, taking on larger contracts and general changes in the market can all have a significant impact on a company’s running and the scenarios leaders must manage.

To do this effectively, leaders need to know the causes of when a business gets stuck. Here are some of the most common hurdles businesses face:

 Lack of belief and purpose: When any business goes through a period of growth it’s important to get everyone together to re-establish why the company exists and how everyone plays their role in fulfilling that purpose, reigniting their belief in themselves and the company.

Reached capacity: Every business will have a capacity, exceeding that capacity can put strain on your team and can compromise your promises to your clients/ customers. What systems can you automate that will free up their time?

Self-sabotaging habits: People are the backbone of every business and if your team is not productive it will cost your company.

Politics: If your business is taking too long to make decisions it’s going to hurt you badly. Your team is going to become frustrated and disillusioned. The bigger the business, the slower the decision making. 

A flawed or outdated business plan: Business plans need to be a live working document that is updated every 3-6 months and communicated to everyone, so that they feel involved and excited.

Blending in with your competition: If your business hasn’t got a differentiating factor, then your team and customers are not going to know how to act and how to be different.

Lack of process, discipline and accountability: Leaders need to make sure everyone has key performance indicators (KPI’s) and the right tools to enable them to give their best. Otherwise, they are going to fall into their comfort zones and be afraid of making mistakes.

Playing it safe: There are many examples of companies that no longer exist because they failed to use foresight and innovation. Blockbuster video, Toys R Us and Polaroid cameras are just some examples.

Imperfect pricing strategy: In order to stay profitable, you have to continuously evaluate your pricing structure. Questions I often ask leaders are: ‘when was the last time you increased your prices?’, ‘What are you profit margins per product?’, ‘How does it fair against your competition and what extra value can you add to your customer?’. You’re either in a price war of who can be cheaper, or the value war of how much extra value can you deliver to your clients.

How can leaders help individuals identify self-sabotaging habits?
It’s not just flaws in organisations as a whole, leaders need to be observant and not afraid of pointing out ways in which individuals can learn and improve. Honesty is the best policy if you want to create trust and transparency.

Here are just some of individuals’ habits to look out for that could affect your company growth and productivity, and what leaders can do to tackle them:

Not taking breaks
There is a common myth that the harder you work, the bigger the rewards. This is far from the truth. Watch individuals that tend to overwork and advise them to have regular breaks:  fifteen minutes off for every ninety minutes of work. Some companies have now allowed their employees to embrace a four day work week as evidence has suggested that it is more beneficial than the traditional five days.

Waning self-confidence
Common concerns leaders need to look out for, especially in newly-promoted individuals, is that they feel like a fraud or suffer from imposter syndrome. Leaders should remind them of their achievements and that they wouldn’t be where they are today without hard work and the challenges they have overcome.

Low productivity

If the productivity in your team is poor, it might be because of procrastination. Setting deadlines towards an objective is a great way to hold people to account.

No future aspirations

Another self-sabotaging habit amongst leaders is having no vision for the future. It’s important to be present, however the distinction between good and great leaders is that great leaders have a vision with the future in mind.

Lack of teamwork

A common habit in the workplace is having the mindset that it is quicker and easier to do tasks by yourself. Micromanagement is the opposite to leadership and the only way that leaders can lead is by trusting individuals in your team and empowering them.

Disorganisation and scattered attention
Leaders need to be aware of individuals who find it hard to focus, especially in reference to phone calls, meetings and emails. Advise people to use a calendar to diarise events and make sure that each task has an agenda. It surprises me the number of companies that have a meeting for the sake of having a meeting, without any structure and purpose.

Stagnating in the same role
Another important factor leaders have to be aware of is to make sure that the people in your team are still interested in what they are doing. Or is it time for them to try something new and learn some new skills and responsibilities?

Avoiding difficult topics

The last habit that leaders need to be aware of is avoiding having difficult conversations. Leaders need to stop putting this off, it will hold them back and serve as a distraction. I teach my clients at the start of the day to do the difficult tasks first, I call this ‘eat the frog’ that will help them and their team to grow faster.