Famous playwright Oscar Wilde said it best when he said “Experience is simply the name we give our mistakes.” A comforting sentiment to business leaders today. But although mistakes will happen, there’s plenty you can do to prevent them. Here are three common mistakes research tells us are made by everyone from mid-level managers to corporate executives — and what you can do to avoid them.
Forgetting that great ideas can come from anywhere. The best leaders develop the ability to choose the best idea, no matter where — or who — it came from. Always invite input from your team and strive to keep an open mind when your team makes suggestions. Some of the best ideas in business have come from well outside the executive circle.
Not making learning a priority. Benjamin Franklin had the right idea when he said, “If you fail to plan, you plan to fail.” No matter how knowledgeable you are in your industry or how much you know about managing people, you don’t have all the answers. Research shows that the best leaders are often the best learners.
Avoiding delegating important tasks. Delegating is a critical skill for business leaders. One of the biggest mistakes executives and entrepreneurs make is the reluctance — or inability — to delegate important tasks and authority to capable employees.