But it is even more difficult to maintain the momentum to growth.
There are a few reasons that cause the company stop. From further growing or even go to bankruptcy.
1. Wrong company direction
Moving from one core business into unfamiliar new business
Over-estimated the market growth and over invested on the company infrastructure.
3. Do not listen to the subordinate who may understand more on the need on what product we need to build for customer, not the one who sits in the chair in board room.
4. Micromanaging your subordinates, especially Chinese who works for one company for too long who would be too much believe that he understand the company most, in fact he might not understand what is the best company model because of his narrow business exposure. Best optimum experienced manager should have at least working in 5 different companies with different business models.
5. Effectiveness of a company operation is measured by reciprocal on how much he is going into micro managing his team. If he is so much fond of going into micromanaging… Definitely he has no time to think of other major area that really needs him; financial planning, vision of the company, expansion plan.
5. Shut off the ear to listen
No one likes to hear bad comment on the products, the bad comment from your competitors and your customers is the most valuable information for your company success provide the leader has the gut to correct it, to rectify it. However there are not so many real leaders could have the gut to CHANGE.
6. People harmony
If there are too many people who are not working along your direction, there will be problem to move to forward, see how we row a dragon boat, it is not the power of individual arms, it is the drummer at the forehead who could keep everyone rows at the same rhythm would win.
There should be a fair game to play, we cannot promote someone within a year because he is the school fellow of the CEO, CTO we cannot do just do that, it kills all the fighting spirit of rest of the hundred managers. If he is good, time will tell.
8. No one is perfect
Use their strength, don't try to change someone' weakness, we use someone strength, if someone is good at presentation and weak in people chemistry just ask him to do presentation do not for him to go with customer for dinner. It is waste the talent and wasting your time, and most of all waste the Wine!
9. No one is indispensable
It is not true as if that is the case, you have probably made a mistake since the first day you hire him. Without one brick the wall won't fall, how About ten out of hundred? HR is the most important resource to ensure success, especially resource of good team mates.
10. Don't take the bonus away from your subordinates and change to be yours, it is not just greedy, it is robbery, no one will work for you. Good team success needs good team mates with passion to win, his basic reward is robber, the passion will fade.
11. Value Loyalty
One manager used to offer smaller review to the staff who has been working years with the company and offer more increment to the unstable staff in some area people used to move around. I cannot say is wrong but I think old staff has valuable experience, Treat Loyalty with respect.
11. Sex, races, age, seniority should not be a prime consideration for promotion.
People who can perform will be promoted.
12. Don't blame your staff to lose market share, you should be the one as you lead the team. General should be the one who will shoulder the total responsibility not the soldier.
13. More senior managers would be likely less to have got to make decision.
14. Don't waste time making slogan, jargon for quality matters! Make procedure, work instructions.
15. Look at the clothes and shoe of the quality manager to tell his capability to manage quality...
16. Don't believe the number of PHDs would determine how success the company is.
Use people for his strength, skill and talent. PHD is good for some RnD stuff or technology exploration, does not mean they have street smarts or business sense!
17. There is no standard for success, company grows steadily 20% a year for the last twenty years would be much more stronger than the one that grew 80% last Year and slash 50% next year.
18. Character determines life style, life style determines attitude, attitude determine capability, and capability determines success. everything starts from character of the staff, not academic.
The average people make average stupid trivial mistakes, the senior smart executive who used to make catastrophic mistake!
One thing we learn, got to be focus on strong products or we will be Jack of all trades, Master of nothing!