10 BUSINESS MYTHS HOLDING YOU BACK

10 BUSINESS MYTHS HOLDING YOU BACK

When you’re older than Google®, it’s hard to remember (or understand) why you’re still beholden to archaic business practices. It’s time to break your bad business habits and move beyond the way “it’s always been done.” Here are 10 business myths and bad habits that are holding you back:

  1. Beholden to "always" – Just because that’s the way it’s always been done, doesn’t mean it still works for you, or your company. Sometimes the old ways are just, well, old. Even though “old school” is once again cool, do you really want to be stuck in the past? As this recent article in Forbes demonstrates, new thinking about everyday business practices is just good business.
  2. Onboarding is hard – Hiring new members of your team is a sign of your success. Don’t make it a throwaway by thinking onboarding is hard. Onboarding is your opportunity to dot all the I’s and cross all the t’s you need to employ as well as a glimpse of your environment. Be efficient. Be prepared. It’s what you expect.
  3. Determined to download – You create files and download PDFs and then, maybe you print your downloads. Admit it, you do.  You actively seek new generation tools to streamline your process where documents live in the cloud (or on the platform) but you’re not using it properly. By doing so, you are adding steps to your process and compromising your productivity.
  4. I’m too busy! – This old business myth is just bad business. – It’s documented that being addicted to being busy is detrimental. Are you too busy to work? Are you too busy to invoice? Are you too busy to handle the business at hand? Of course not. So, why would you allow the busy excuse to deter you from efficiency?
  5. Gig means uninterested and unworthy. – The “gig” economy expands the depth of talent available in the workforce. Business myths that a freelancer might be uninterested or unworthy of your project is short-sighted. In fact, just the opposite could be true. While an individual may be unavailable for full-time employment, their expertise and talent in a part-time or specific, limited time may be just what you need.
  6. Management tools are too expensive! – If we share anything as entrepreneurs, it is the uninhibited demand for efficiencies, especially when it comes to cost.  This is why we wear so many hats within our own organizations. It is also why we need to maximize our productivity with tools available to us.
  7. Contracts are for major projects only. – Seriously? A written contract, scope of work, or a letter of agreement all provide a description of responsibilities for all parties involved and protect you as well. At a minimum, these documents outline expectations – from payment to deadlines. It’s not like you only want to be paid for the major projects, right?
  8. "Workforce Next" is a long way off and doesn't apply to my business. – We hate to be the bucket of cold water splashing you in the face, but the thing is, “workforce next” is the workforce now. The convergence of technology combined with the desire for an on-demand schedule makes freelance work an enticing option. And, as more customers see on-demand, agile solutions, we see business investing in an extended workforce, instead of “hiring up.” Even if you think this trend does not apply to your business, chances are it does and it should.
  9. Need-to-Know. – As outdated a concept as a desktop Rolodex®, the business myth that your extended workforce is only on a need-to-know basis is equally antiquated. The power of the rise of Millennials has been the counterintuitive blend of a love of old with an unemotional rejection of anything that wastes their time. They certainly aren’t the first generation to be frustrated by a lack of information, but they are successfully owning it. Communication is key when it comes to your success. If you are engaging your employees, and an extended workforce, you are winning.
  10. Change is scary. – Mark Twain once wrote, “Why not go out on a limb, that’s where the fruit is.” It is such a pleasant way to position risk.  Netflix certainly changed storytelling. If the idea of change or the word change makes you uncomfortable, try using evolution. Position it in your mind as positive to keep you moving forward. Of all the business myths holding you back, this one is similar to being stuck in always. Change is inevitable. Prepare for it; embrace it.