As your business grows, the excitement of scaling can sometimes overshadow the potential pitfalls that come with it. Maneuvering these changes requires careful attention to business processes, team dynamics, and leadership skills.
To help you navigate this stage, I’ve rounded up five pitfalls with tips on how to avoid them.
1. Avoiding Hard Conversations
One of the most common pitfalls in team dynamics is a lack of clear communication of expectations. When team members are uncertain about their roles and deliverables, this can lead to confusion, frustration, and ultimately a decrease in overall productivity.
We experienced this at RealWealth a few years ago. An employee continually missed quarterly goals and team meetings and often turned in subpar projects, straining department morale and productivity. Hoping the problem would sort itself out, I held back, but eventually I had to let the person go. They were shocked, and the conversation became emotional.
After that, I promised never to let that situation happen again. I committed to using the techniques in Kim Scott’s book Radical Candor (an excellent book!), which provides a system for showing your employees you care personally while still challenging them directly. We also improved our performance review process and now have one quarterly.
My advice: Don’t let problems fester; be clear about expectations. Onboarding is the best time to outline and discuss job expectations. When employees pass the 90-day mark, review your expectations moving forward, and ask if anything…