An owner of a couple of small businesses is frustrated with dwindling profits.
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He blames his staff, treats them badly, moves them to different locations, stalls their vacations and refuses to listen to their feedback.
The truth is:
- He has been an absentee owner that has happily collected profits from the businesses while choosing not to be involved in day-to-day operations.
- He hasn’t trained his employees or empowered them to make decisions.
- He has not been engaged with his customers and doesn’t know what they value.
- He hasn’t been proactive about growing his businesses or even keeping up with his competitors.
- His prices are higher than the competition and his facilities are cramped, cluttered, outdated, and equipped with poor quality equipment and tools.