What Happened? Understanding Business Leader Derailment

When a business is struggling and the reasons are a mystery, it may be time to examine

leadership for clues. This is not about finding someone to blame — it is about understanding some of the issues possibly derailing them in an effort to improve them. In a sense, this type of exploration is akin to going to the doctor to attend to a health issue versus having an autopsy or post-mortem exam.

Leadership issues are common, after all. We are not born knowing how to run a company — we can listen and learn from our challenges. Women in business can benefit from the shared wisdom of collaboration through groups like Empowering Women in Industry. When business owners are open to looking at their vulnerabilities, it can pave the way toward a better company and greater success.

Administrative Oversights

Overwhelmed business owners may inadvertently neglect necessary legal obligations such as payroll regulations, tracking data for tax purposes, or filing for business formation. These errors can be costly and result in serious setbacks for business owners. To avoid these oversights, entrepreneurs can establish a plan for tackling these necessities with routine reminders or by hiring an assistant to attend to these tasks.

Business owners can also avoid oversights by obtaining the services of an accountant or purchasing a comprehensive tax and payroll program — a prudent step that might save you a lot of grief. Similarly, business owner