Business Challenges

Mismanagement

What is it and how do we ensure we don’t suffer from it?

Businesses can fail. Even seemingly the best businesses that are operating in a growing market, that have good products priced well, can fail. Why is that? Research shows us the most common reason, by far, is mismanagement. So to avoid mismanagement, we need to know what it is.

How we avoid Mismanagement

Mismanagement is inevitably the failure to do certain things, rather than doing the wrong thing (as long as we learn from doing the wrong thing and don’t repeat it!) The following factors constitute mismanagement:

Lack of Planning – the failure to create a clear strategic plan that has widespread buy-in
Weak Leadership – leadership that lacks direction or vision, that fails to positively influence
Poor Communication – between individuals and teams, from management and to management, resulting in a lack of clarity and misunderstanding
Incompetence – lacking the skills required in any position within the business, often resulting in a lack of informed decisions
Insufficient Resources – be it financial, human or technological, hindering productivity and efficiency
Rapid Growth or Change, without the proper foundations and infrastructure to be adaptable
Ignoring Market Trends and failing to adapt
Unhealthy Company Culture – resulting in a toxic workplace where morale, motivation and engagement are negatively affected

And the simple answer to how we avoid mismanagement – ensure your company prioritises all of the factors above, which will involve change and adaptability.

Contact us

If you’re ready to take your business to the next level, get in touch with us today at 021 431990. The Think Differently team is passionate about Business Success and is ready to work with you today.

What our clients say

Clare McCall

J C McCall Plumbing Ctractors Ltd

We have been working with Phil since 2012. During this time we have grown from a staff of 10 to well over 30 and quadrupled our turnover. Working with Phil has enabled us to develop strategies and implement plans that we didn’t even know we needed before meeting him. At the beginning of our journey together we were not working on our business at all and, to be honest, we were floundering. Now our leadership is strong, our strategy is clear and we have exceeded most of the goals we have set for ourselves.

Natasha Bourke

Managing Director Skin Health Experts (S.H.E)

Phil Pickford has provided considerable support to our business since we began working together in 2008. Over the years he has counseled, advised, mentored and coached me (and my team) on a vast array of subjects! The focus of our meetings has always been on business strategy but he has provided enormous support in other areas as well (management, HR, new business, and organisational structure to name a few). Phil is always very prepared, the meetings are well structured, and his follow up is timely and concise.

Warwick Shearer

Director, The Maintenance Guys Ltd.

We have been using Think Differently for over 2 years and have seen remarkable gains in our business, over 50% growth each year. We have consistently broken sales records and have become a leading force in our field. Phil is an outstanding mentor with an invaluable wealth of knowledge and I couldn’t recommend him enough.