I think it's more of a complex phenomenon. It's not one against the other. If you look at what happened during the pandemic, there was an increase in online services, for example, time spent on Netflix has increased a lot, as well as goods purchased online.
Companies like Amazon and Google have grown, especially their shopping service. So we have a kind of new equilibrium. But it's not a shift from online to offline or vice versa, but an omnichannel experience where offline and online work together.
How can middle and senior leaders avoid the micromanagement trap?
People should not confuse micromanagement with attention to detail. It is not because you are not a micromanagement that you are not allowed to pay attention to detail. There is a popular saying that the devil is in the details .
Take companies that have failed in the past. In most cases armenia mobile phone numbers database if you interviewed some of the employees, they would tell you that certain decisions the company made were clearly bad. So you have to pay attention to the details.
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Micromanagement goes back to something we discussed a bit earlier: the responsibility that comes with authority. If you want to avoid micromanagement, you need to create a culture in your company where people feel empowered to make decisions and do what’s right for their job, the company, and the customers.
So it all comes back to the employees. The most important decisions you make as a leader are about hiring the right people. And if you want to avoid micromanagement, how you train your managers is important.
But more fundamentally, it comes back to the hiring strategy that you have. If you have the right people on board, everything comes quite naturally and people will do the right thing.
What is worth learning for an aspiring manager today?
People these days tend to underestimate the basic skill set that you need to have and overestimate leadership skills. People really need to think about what is the foundation and what comes on top of it. What is good and what is excellent.
If you want to be an executive director, the right skills include the ability to do financial analysis, understand what financial health means for the company .
But what makes the difference between “break it” and “make it” is actually your leadership skills and how you lead people: your board, your investors, your employees, your customers.
And from that perspective, it's about understanding other human beings and pulling them along. So every subject area matters, from psychology to literature—everything that touches the human soul.
For me, what makes the difference is the way it's executed. You have to have an idea when you start a company, a vision and a mission.
But at the end of the day, it's about how you execute. On one hand, there's strategy, and on the other hand, there's execution. I always say that execution is 95% of success.
Is entrepreneurship an innate skill or something that can be learned?
It's a mindset—the way you think about risk. If you're risk-averse, even if you have the skills and can be a good leader, you're probably not an entrepreneur.
When it comes to being an entrepreneur and starting something from scratch, the ability to take risks is paramount.
That doesn't mean you have to be crazy. You have to accept a certain amount of risk and assess what the right balance is between the time and resources you're putting into that risk is - that's what makes a good entrepreneur.
