Let your People Make Mistakes

In the early stages of entrepreneurial companies, Entrepreneurs often exercise strong control where virtually all decisions are made by them. Entrepreneurs are not yet ready to delegate responsibility and trust their people with decision-making authority. Entrepreneurs do not want their people to make mistakes.

That is no way to develop your people and grow the company. Entrepreneurs have to be willing to allow their people to learn how to make good decisions on their own. This may result in a few mistakes, but let those be learning experiences rather than creating an environment of fear to make decisions.

Entrepreneurs must let their people make mistakes and learn from those situations. There is nothing wrong in having checks and balances to prevent unchecked major mistakes hurting the organization.

Managing a growing company is akin to watching a child learn to walk. Parents allow their children to fall so that they can get up and learn to walk. Entrepreneurs need to do the same.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

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