“Success is something that comes, when you overcome the fear of failure”
Do you know?
- During 2007 to 2010, Yahoo replaced its 6 CEO’s
- HP changed one of its CEO in six months
- Nearly 30% of Fortune 500 chief executives remained in position, less than 3 years in last 25 years
- Case study of Booz revealed global average of CEOs has dropped down from 9.5 to 7.6 since 1995
- Harvard Business Review found 2 out of every 5 business owners face failure during starting of 18 months
You might question, what is the reason behind high failure rates?
It is a fact that success does not come overnight, but consecutive mistakes lead to defeat. Obviously, knowledge, competency and experience doesn’t play role in being unsuccessful, but immature leadership capabilities, decisions lacking merits and business patterns failing to meet modernization can be a major reason behind a flop business.
In concise manner, we are identifying some oversights of Pitfall Reasons of CEOs here, business representatives can avoid these discrepancies that lead to their ultimate decline.
Estimation Fallacy: If you think your business smart, while your competitors fool, then it would be your fatal mistake. Don’t underestimate you’re the capabilities of your business opponents, don’t get satisfied until you achieve first milestone.
Viewership Loss: Grab the attention of your viewers and take it under your possession. If your viewers don’t listen you attentively, then you should work to make yourself perceptible and center of attention.
Unpredictable Attitude: A moody personality make unpredictable gestures, it eventually includes the element of uncertainty and volatility merchandising patterns.
Over Cautious: If you are over vigilant in terms of taking bold business decisions, then it is something that can hurdle entrepreneurial journey in start. Sometimes being chief executive, you need to quick as well as bold in judgments.
Absentia of Optimism: If you oversee darker side of image, and can’t see a glimpse of success then it you should work on your attitude before it is too late.
Lastly, both success and failure are universal, a watchful business executive should be acceptable attitude towards either event, and he/she should act carefully against warning alerts. Culturally we inherit a society that expects an executive that perfectly specialize in managerial and other relevant skills. Any incapability and unprofessionalism is totally unacceptable under such norms or conditions