Posted: 6, 1 Nov, 2014 by John Peterson | PERSONAL GROWTH
Suddenly it dawned on me how arrogant I had been these past six years, having launched then relaunched a business without any regard for the key business success factors I had once represented so passionately as a change management consultant.
Looking back, I now realise how easy it is for business owners to take short cuts and conversely how difficult it is for them to develop great habits and corporate governance founded on sound commercial principles.
It becomes even easier over time to settle into some pretty bad habits because on your own there is no best practice process or benchmarking to keep you focused on real world performance standards therefore a slow slide into mediocrity is virtually guaranteed.
I started to reflect on and respect the people I had worked for and the businesses they had built. I started recalling all the disciplines and ‘little things’ we did that at times seemed a bit anal and over the top but suddenly now made sense.
I had taken short cuts for six years. Rather than being the leader I had once been when employed by others I respected, I thought my own skills and experienced would be enough and that I was ‘special’ and could afford to take short cuts - massive short cuts.
Losing $1.1M tends to wake you up like a shower in cold water everyday thereafter once you realise the damage has been done and it's too late to reverse things or turn back time.
...an extract from John Peterson's book "The Entrepreneurs Guide to Business Mastery"