The Nightmare of Business Management
Business Management has always posed a dilemma. There is no “right way” to managing a business. When it comes to your own business, dealing with the problem will ultimately determine success or failure.
If you are running your own small business (or home business), how much management skill do you need? Is it a time to start looking into Business Schools? You can get additional assistance from the Small Business Administration because they are there for your success.
One thing for sure, you want to avoid the Peter Principle.
You know that principle! In a brief description, it comes down to this: you will rise to your level of incompetence. Another way to look at this is: success will be pushed until ultimate failure occurs.
Avoiding the Peter Principle
How can one find the right path and avoid the Peter Principle while maintaining the level of productivity they seek? This is an age-old question that eludes definite answers. What does it mean to rise to the level of incompetence? For starters, you may be skilled in one aspect of
Your business. You have another task to perform that you are not trained in, but you take it on and barely get by. Then you have another responsibility beyond your skills. You push forward like this until your ultimate demise. Failure
One person told me to take an inventory of your weaknesses. Now, with that list, work on strengthening those issues until you are proficient. Another person told me to take an inventory of your strengths. He said to improve those areas and become as efficient as possible. He then said everything else (the other skills) that you are weak in, outsource them.
Side note: I read a story about a young man in college. He called his father to ask for some advice. He told his father he didn’t keep up on his studies in his accounting class because it didn’t interest him. His father asked how he got by so far. He said he had a friend write his papers for him. He paid him with a 6-pack of beer. His father told him: “Congratulations, son, you have learned how to hire your first accountant!”
Working on Those Skills
We forget from time to time what our goals are and what our business is all about.
Most people can’t wait to get out of school so they can start their careers. The truth is you have to have the mindset, “you are always in school!” If you don’t, you are right on schedule for applying the Peter Principle. You ever hear this one: “Anyone that takes advice from himself has a fool as an advisor.”
Most people are well-meaning. There is an abundance of Internet Businesses available. Surely you can follow someone’s lead and have a successful business of your own! As I said, most people are well-meaning. Most Internet businesses, Network Marketing businesses, etc. have a hierarchy of management. This can be good or bad.
What determines business success? It starts with you!
Are you ready to learn?