9 Common Mistakes Most Founders and CEOs Are Making

As someone who’s been in the trenches of building and leading a company, I know firsthand the challenges that come with the territory. It’s a rollercoaster ride of highs and lows, and sometimes, despite our best intentions, we make mistakes that can impact our businesses.

Here are 10 common mistakes that I’ve experienced first hand and observed which lead us to Co-founding our business;

Not Delegating

Delegating is a tough nut to crack because it always feels like losing control. As founders, it’s easy to fall into the trap of wanting to control every aspect of the business. Trust me, I get it. But effective leadership is about empowering your team. Delegating tasks not only fosters collaboration but also allows you to focus on the bigger picture.

If you can't delegate you're not going to be able to scale your business nevermind, take a vacation or even one day exit!

Not Documenting Processes

In the fast-paced world of entrepreneurship, documenting processes might seem like a low priority. However, it’s a game-changer as your company grows. And is going to leave you and your team feeling less scattered.

Learn from my early mistakes (once upon a time before I started Whale) — and document processes meticulously. It saves time, reduces errors, and ensures everyone is on the same page.

You can't grow unless you're all going in the same direction!

Focusing on the Wrong Activities:

Time is our most precious asset, but this point isn't about time management; it's about priorities.

Spending it on activities that don’t align with your strategic goals can be detrimental. Regularly reassess your priorities, making sure every move contributes to the growth and success of your business.

It's not difficult, especially in the growth phase, to try and do a million things. Find one, two or three things that work and then double-down and deep dive to keep improving in that area.

Hiring the Wrong People:

Building a dream team is a win. But hiring the wrong people? That’s a setback. Take it from someone who’s learned the hard way — invest time in hiring processes, prioritize cultural fit, and build a team that aligns with your values.

You can always upskill someone. But you can't change someone's values!

Not holding ourselves and our teams accountable:

Running a business is hard. You've got to have a lot of things but above all you've got to have a vision and you've got to have values.

And you've got to live them! (There's no point putting them up on a wall and walking past them every day but living in another way completely.)

And then you've got to have people who believe in that vision and live those values.

Accountability is the glue that ties efforts to results.

As leaders, it’s crucial to set clear expectations, track progress, and hold ourselves and our teams accountable. A culture of accountability fosters responsibility. If you don’t have a culture of commitment and accountability, you're going to be out of the game.

Neglecting Employee Development:

Your business's strength lies in its people. You need a people development and training strategy because it's linked to the growth of your business.

Failing to invest in their growth is a missed opportunity. Start with the best onboarding and then prioritize ongoing training, mentorship, and professional development. A motivated and skilled team is your ticket to success.

The more you skill your team, the more you're you're investing in the future growth of your business.

Overlooking Technology Trends:

We’re living in the age of technological evolution. Ignoring trends like AI and how it impacts your customers and life, in general, is like sticking to a flip phone in the era of smartphones. Stay informed, invest in relevant tech, and propel your business forward with the right tools.

(And yes, obviously, I'm going to punt Whale as part of your stack because I really believe it is invaluable.)

Ignoring Company Culture:

Company culture isn’t a buzzword — it’s the heartbeat of your business. It comes back to that whole vision and values exercise.

Cultivate a positive, inclusive environment that fosters collaboration and innovation. I've shared this before, but I'll share it again because it really is a thing!

Failure to Plan and run in a structured sense:

Short-term wins are satisfying, but you'll never reach long-term wins unless you do so by design.

Things that will make a difference to the likelihood of your success include things like;

• Running on a business framework like EOS
• Setting OKR's and rocks

This helps to stay focused on the priorities and not get lost in a million to-do's with no idea of whether you're winning or not.

Navigating the entrepreneurial waters can be rough but I think the more we as entrepreneurs are open to learning and growing, the better. Here’s to continuous improvement, growth, and the crazy ride that is entrepreneurship and unlocking growth. 🚀

Gary