The Worst Leadership Mistakes You Can Make

 

If you talk to any person on the street, chances are they will most likely have a story to tell about a boss with bad leadership skills who continuously made the same mistakes. Being a leader isn’t just about the title you hold or the number of employees you have under your command. It’s much more than that. It’s also about providing value to your team and understanding when you make mistakes. The following list includes some of the worst leadership mistakes you can make and how to avoid them.

Losing Trust

It’s safe to say that if you don’t have a strong foundation of trust, you have nothing. People will only follow those who they know are going to be there for them. For this reason, when promises are made, make a serious effort to keep those promises. Failure to do so may lead to an office that listens to you but doesn’t necessarily follow. It can also affect the overall employee morale.  It can be difficult to regain the trust of your team after losing it, and even then, it might never be the same. Before promising anything, make sure you are ready to live by your words.

Not Following The Golden Rule

According to Maslow’s Hierarchy of Needs, respect is one of the most important things a person needs in order to feel fulfilled in life. Therefore, when you come into the office constantly talking down to staff members in front of their peers, poor performance isn’t far behind. Whenever negative performance or behavior issues arise, it is best to address those issues in private. Not only will the matter be handled more efficiently, but your employees will respect you for bringing it to their attention in private.

Taking the Glory

There’s a reason why so many of today’s great leaders don’t actually talk too much about their business performance. That is because they understand that it was a team effort that helped achieve their goal, not the work of one person. When you take the glory of your team, you are essentially invalidating their contribution. This can instantly lead to negative feelings towards you, and they will be less inclined to put in the same amount of work during your next big project.

This article was originally published at https://matthewlittlemore.com/

How to Save Money During a Pandemic

 

Navigating the waters of a pandemic is stressful enough without adding additional money worries to the mix. That being said, finding ways to save money during Covid-19 is likely a necessity for many out there. For those who have some disposable income, this is the perfect opportunity to put aside funds for when the economy inevitably bounces back. Whether you’re telecommuting from home or still coming to work, here are a few ways to ensure you’re making every dollar count during these questionable economic times.

Contact Your Car Insurance Company

Most people have drastically reduced the amount of time spent driving during this pandemic. If you’re no longer using your car to commute to work, be sure to communicate this to your insurance company, as your vehicle’s insurance rates are often calculated with your commute as a factor. Even if you are still driving to work, you may find that there is less driving overall taking place. Putting lower mileage on your vehicle means there’s no reason for you to pay the same amount on insurance. 

Make the Most Out of Your Groceries

Being stuck inside can make it tempting to order meals and groceries more than ever. However, even being a premium user of food and grocery delivery apps can quickly stack up with tips and delivery fees. Unless you are an immunocompromised individual, you might consider safely planning out physical trips to the grocery store instead. While you should still consider limiting your trips, cooking at home can be a great way to save money and develop your culinary skills.

Consider Clearing Out Your Old Things

If you’ve been staying home, it’s likely you’ve attempted to reorganize your space and discovered how many things you’re no longer using. This can be a great time to say goodbye to unwanted clutter and make a few extra bucks in the process. Online marketplaces can be a great and safe way to sell your unused items. Consider disinfecting items before shipping them in order to give your buyers additional peace of mind. Many entrepreneurs have emerged as a result of the new world we live in, and have learned to adapt by starting their own craft-based businesses.

This article was originally published at https://matthewlittlemore.net/

How Leaders Can Encourage Open Communication

Leaders need to establish an environment where their team can communicate. After all, if people feel like they can’t say what they want to say, then this can lead to problems within the business. Here are some key ways that a leader can encourage open communication.

Avoid Judgment

When people feel judged, they close off and become fearful of opening their mouths. You don’t want this to happen within your team, always avoid judging your team members when they say things or make suggestions. Instead, encourage their comments and be kind.

Always seek to get something positive out of any comments that your team makes. If someone has an idea, point out the good aspects of it. This will encourage them to talk and to speak up more often.

Give Credit

Many people love to receive recognition for their words and their ideas. If you give people credit for their ideas and make it clear that you recognize them, then they will want to communicate. After all, people love it when you recognize the good that they do and the excellent ideas that they have.

Gaining recognition allows members to feel good about themselves. Not only that, but their colleagues see the recognition, which inspires those colleagues to communicate as well. This can encourage your entire team to openly communicate as they seek out that credit and recognition.

Ask the Right Questions

You want to ask open-ended questions and for feedback. When you ask open-ended questions, you encourage your team to throw out ideas and to consider different options. This leads to open communication and giving people the opportunity to share their ideas.

As for feedback, you put yourself in a vulnerable position, which is a good thing. Your team sees that you want to improve, that you value their input and that you care. By showing your willingness to hear the truth and to gain feedback, you encourage them to do the same through communication.

Conclusion

Open communication can provide a variety of benefits to a business. By encouraging your team and showing appreciation for their comments, you can create an environment where people feel safe to communicate their ideas.

This article was originally published on http://matthewlittlemore.com/

The importance of teamwork for a successful business

Within the past few years, it has become increasingly more apparent that the companies who are good at boosting the idea of teamwork are standing out as more successful than ones who focus on a few key players. Much like in sports, if the team serves as one cohesive unit with a common goal, they will go further than one with a few heroes who get all the attention. There are several reasons why teamwork is encouraged.

Communication is a key element to any successful team. It’s important to remind your staff that they should not only offer assistance and helpful guidance to each other, but you are also available to mentor or assist with any issues they may be having. Teams who respect their leaders will have a much higher chance of succeeding.

Brainstorming sessions are defined as spontaneous ideas offered back and forth by a diverse group of individuals. Ideas can be bounced off others or be expanded on. It is a free-flowing, creative environment that reinforces the fact that there are no bad ideas. This leads to an abundance of suggestions and a higher likelihood of a solution to a problem. Brainstorming only works within a trusted group that is willing to share information with each other. Cooperation is key if working on a team. 

Another reason that a team is more successful than an individual is the concept of perspective. The old adage ‘there is no reality, only perception’ holds true because everybody has different ways of seeing the world. The more perspectives and points of view you can aim at a problem, the more well-rounded picture you will have. Studies have shown that more diverse teams bring more perspective and creativity to a business than ones who hire only one demographic.

Another way that people differ is by their skillset. Each of us has talents in certain areas. The more we match the right person to a task, the more productive the team will complete a project as a whole. In addition, each team member will feel a sense of accomplishment for being able to do work they are good at. This, in turn, increases morale.

This article was originally published on http://matthewlittlemore.com/

Expenses That Can Eat into Your Retirement Savings

It is frustrating when you spend your life adding to your retirement savings only to watch it slowly drain away. Retirement for most retirees usually means living on a fixed income. Nevertheless, you should not be worried if you are spending within reason. But there are expenses that may threaten your financial well-being in retirement. The following are some costs to monitor.

The first expense to watch is your debt. Debt is another monthly bill to worry about and can get worse when you make the minimum payment. During your working years, make this debt a priority. Minimize this debt by paying off your debt starting with the debt having the highest interest rate. You can also allocate a percentage of any bonuses you receive towards paying this debt.

A second expense that can eat into your retirement savings is health care costs. This can be true even if you have insurance. For example, your insurance could have high deductibles, or you could need care your insurance does not cover. Retirement planning may have taken these contingencies into account, but if not, health care expenses could “eat up” much of your retirement savings.

A third expense that can eat into your retirement savings is care-giving. Sometimes, retirees have living parents who deplete their retirement savings and rely on their children. Some retirees have their adult children back home with them because of the child’s mismanaged money or rotten luck. Remember, you cannot control how other people (including children or parents) manage their money. However, you can have a say in the financial support you provide them. Adult children can pay rent to you and help reduce the financial burden on you in other ways.

A fourth expense that can eat into retirement savings is taxes. You can minimize your taxes by being aware of your contributions and withdrawals from your retirement accounts. These retirement accounts reduce taxable income when you contribute to them but require tax payment when you withdraw. During retirement, know your tax bracket and monitor how much you withdraw from which type of investment account. You can have money in different accounts, but the account that will give you a larger tax break should be your favorite option.

This article was originally published on MatthewLittlemore.net

The Main Differences Between A Manager and a Leader

Overseeing a set of employees is a massive task that can be very difficult. An organization often has strict policies and procedures in place and employees are expected to abide by these at all costs. Organizations hire managers to ensure that these policies are followed and that employees do their jobs efficiently. However, being a manager does not necessarily mean that this person is a leader. Here are some of the main differences between the two.

Short Term vs. Long Term Tasks

Leaders in the workforce are attentive to the future goals of employees as well as the organization as a whole. They care about where the organization is headed and focus primarily on how to evolve employees to reach those future goals. They are interested in employees’ wellbeing and wish to develop skills and abilities within each employee. Managers, however, are more focused on short-term problems such as solving day to day issues that arise, dealing with conflict among employees, and reprimanding employees who are not doing a respectable job.

The Status Quo Vs. Innovation

Leaders desire to come up with creative solutions to problems using processes that the organization has never used before. They seek to find answers that make the flow of the organization run better and they anticipate future problems that may arise while working to find a better path for the organization. Managers, however, desire to keep the organization as is without much disruption. They work to maintain how the organization is already running.

Minimizing Risk Vs. Risk-Taking

A manager seeks to minimize risk within the workforce as much as possible. They are given a task to manage a set of employees and they train employees to follow rules and policies set by the organization. Leaders, on the other hand, take more risks in hopes that greater outcomes will come of it. They want employees to use their creative minds and seek to find better ways to do things. Leaders see success as being attainable beyond its current state while managers see success as keeping things just the way they are. Managers play it safe.

Responsibility Vs. Accomplishment

When asked what one does for a living, how they portray this to others shows whether they are a leader or a manager. A leader describes their job in terms of what they want to accomplish not only on a day to day basis but for the future as well. A manager describes their job based on who and what they oversee on a daily basis.

People often confuse managers and leaders thinking that they are one and the same. However, a person can be a manager but not a leader if they are more focused on the short-term, daily issues that arise and focus more on ensuring employees are following rules rather than working on developing them for future endeavors. Leaders seek creativity and innovation in the workplace while managers want things to remain the same.

This article was originally published on MatthewLittlemore.com

Tips To Help College Budget

College students are going to have a lot of things to consider when they are budgeting. Most of them are going to need budgeting assistance because they have never been in charge of their own money. Fortunately, there are some easy tips to help the college students that are trying to budget.

Eat Cheap

It is important to look at any deals that are available when it comes to budgeting. It is important to take account of how much money is needed for morning, afternoon and evening meals. Students need to learn how to clip coupons and look for ways to prepare meals. Students that are going out to eat on a regular basis will find themselves struggling to stay within their budget. It is okay to eat out occasionally, but very few college students can sustain a budget if they don’t make any effort to learn to cook.

Entertainment That is Not Really Needed

It is a good idea to look at the options for free entertainment. It is hard to fathom, but there are quick a few apps that providing free movies and television shows. This means that there is no need to spend money on some of the premium apps that require a monthly subscription. The same thing goes with music. There is no need to buy streaming services when many of these services are free.

Free Entertainment On Campus

The great thing about college students is that there is a large amount of free entertainment on the campus. Students that pay activity fees are already paying for the home games during basketball and football season. This means that there are opportunities to be entertained on campus without spending excessive amounts of money.

Buy Used Text Books

The ability to buy used textbooks can also be a great money saver. There are great discounts for those that are interested in ordering textbooks online. Others may even rent textbooks that can be returned. This can help college students save lots of money.

Split The Cost

If there is anything that college students can do to split the cost they should do this. They should look for ways to share books, clothes, software and food expenses with roommates.

This article was originally published on MatthewLittlemore.net