You perform well and  seldom fail. The only problem with the high bar you set for yourself is you tend to hold everyone else to your standards, which predisposes you to a terrible habit: micromanaging the  people around you. It's a propensity that will kill your business, says Ravin Gandhi, co-founder of GMM Nonstick Coatings, a global supplier of nonstick coatings to the housewares industry. With nearly 300 employees on his payroll, Gandhi says he's passionate about empowering every single one of them. Here's why:

1. Micromanaging makes scaling impossible.

A company won't grow if  leaders are focused on minor details and not the vision and bigger picture. "Your instinct is to micromanage because there's that old saying 'If you want something done right, do it yourself,'" Gandhi says. "As a leader, you need to fight that instinct."

2. You will lose top talent.

In today's world, Millennials crave autonomy and do not want to be told what to do. Micromanaging them is the fastest way to push top talent out the door.

3. It squelches innovation.

When teams are conformed to doing something a certain way, it limits creativity and spontaneity, which are traits that lead to innovation. And without innovation, no company will survive. "I'm a big believer in the concept of positive unintended consequences," Gandhi says. "When you've got an organization that's really humming with a lot of stars in it, there are a lot of great decisions that come out of the woodwork which you couldn't have expected."

4. Employees need to make mistakes.

It's how they grow. In fact, they probably learn more from when things go wrong than when they go right. That's why Gandhi suggests identifying the people in your company who look like they have the potential to be great leaders and push the boundaries of what you think they can handle. Often, real stars get better the more pressure you put on them. "To develop the A-players in your organization, you need to give them a lot of responsibility," he says. "Maybe you'll lose a few of them, and maybe a few of them won't perform well, but the ones who self-select and are good, those are people that can truly help you grow your business exponentially."