Most businesses commenced by people who possess above average intelligence don’t usually do well because the entrepreneurs refuse to take anyone’s advice and tend to do what they think is right. These super-intelligent entrepreneurs usually rely too much importance on their brains and fail to listen to other people which usually leads to their downfall. In most cases, people who place too much pride on themselves and consider others as lesser mortals aren’t able to become very successful entrepreneurs.
Here are a few reasons why businesses headed by super-smart entrepreneurs usually fail:
1. These entrepreneurs put themselves before the company
Because they put too much emphasis on their intelligence, they forget to view the company as more important and tend to put themselves before the company. In this situation, a lot of harm is done since the decisions made are in view of what they believe is correct and most of the times, they forget to take the company’s well-being into consideration.
2. No tabs over the competition
Smart people are often enamoured by their decisions to an extent where it becomes almost self-harming. They often forget to keep tabs on the competitors and believe that the other companies will never catch up which is worst thing one can do. This has led to the shutting down of many companies like Kodak because their technology was outdated compared to the competitors.
3. No regards for more experienced people
Most intelligent people are aware of how smart they are which is why they think that they don’t require advice or inputs from other people. This trait is responsible for their downfall as they brush off misunderstandings and fail to accept any kind of faults when pointed out by other people. These might seem like traits of a strong leader but not lending an ear to more experienced people will deprive you of important advice which could have helped you build your business.
4. They are usually surrounded by people who agree to them
Intelligent entrepreneurs prefer to be surrounded by yes-men and women as it instils a sense of superiority in them. They expect mindless support and loyalty for every decision of theirs which devalues the importance of employees. Similarly, this raises the authority of the smart entrepreneur and makes him seem more regardless towards others opinions.