The Tribune

The results of Wednesday’s general election has left many asking questions, and trying to determine why the governing party suffered such a crushing defeat at the polls. The common themes seem to be focusing on an important lesson that every business leader must take into consideration. Let’s take a critical look at each of these lessons in the language being used by the average Bahamian:

Lesson 1. Learn to cut off dead weight. There are some processes and people in your organisation that you must sever ties with if you are to grow and develop.

No one likes to admit coming to the end of the road with someone. It is human nature to look for the best in people and programmes you have held dear. But as difficult as it is to admit, there are some beloved things you have to lose in order to win. Truth is, in some cases it is a matter of survival. In severing ties with people, remember that you are justified if you have a valid reason and a fair process.

Lesson 2. Remember that as a leader you are not infallible. Leaders fail and have shortcomings. The successful leader, though, makes open confessions and takes steps towards correcting the wrongs.

Repentance without turnaround is useless. Admit to everyone often that you do not know it all, and that you have a certain degree of dependence on the skills, expertise and knowledge of those around you. Learn to listen, and take the tough criticism from those who you know have your- and your business’s - best interests at heart.

Lesson 3. A named successor gives the impression that you are looking to the future with hope and possibility. If, after 40 years of doing something, you still hold the view that you are the only person capable of continual success, you are living in a fantasy world.

More emphasis must be placed on strategic mentorship, and the implementation of successful succession models, for us to take the positive turn we need in business.

Lesson 4. Demonstrate a higher degree of transparency in your dealings. Scripture warns to not have your good evil spoke of. When we fail to explain the details and give an account for the process, we sometimes leave people’s minds to wander. Clarity and openness in all our business dealings is crucial for good business and governance.

Life continually gives these important lessons. Along with the lessons come many tests. Our performance on each test determines whether we succeed and move to the next level. This is true in business, in government and in life. Learn well and live well.

• NB: Ian R. Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@coralwave.com.