This truth remains with business leaders as well. They have extremely full plates to mange. Most of their plates are balanced on top of some spinning sticks. Those sticks need someone nearby to keep them wiggling every once in awhile to keep the plates spinning fast enough so they do not tumble off the stick and hit the floor. When one stick slows down, the leader must turn around and wiggle that stick just a little bit more. The success comes from keeping all of the plates spinning fast enough so they do not fall off the sticks. When a business leader gets too many plates spinning at one time, the chance increases that one will fall. There just is not enough space and time to manage all the plates on those sticks.
The first part of profit is to recognize when it is time to delegate some sticks of management to someone else. When too many sticks become part of your limited day, some plates are destined to fall. Make sure you work your leadership in a fashion that helps you define who you can trust. There will be times when you need to turn over some spinning plate processes. Having a good list of trusted associates helps to make the delegation process work well.
The first part to profit is to recognize who, what, when and where you will delegate important tasks to someone else. Once you perform that step, get the heck out of their way and allow them to manage that task on their own. If you have a problem with that responsibility, maybe trust is not really there. Trust is a serious subject and carries with it a whole seminar of words and discussions. Learn the art of trust and manage it well. If offered properly, you will discover how quickly and easily your business will grow. It can lead to some very handsome profits. This is especially true in a recession. Someday I will explain that theory as well. It has to do with buffering pressure away from you so you can work on your business instead of in it. Recessions have a tendency to kill the spirit of the leader. Creativity goes out the window when the spirit is crippled. And so on.
The second part to profit is to make sure you know when you have stepped on the feet of those working to help you win. Never skip this step. The only business leaders that skip this step are the ones who always find themselves chasing the eight ball and never winning big. Those are the ones who step on those who are trying to help them win. They are the ones that refuse to recognize how they have stepped on the feet of their assigned associates working to solve challenges in their own fort. It is an abusive process that often times goes unnoticed. The only notice usually given for this kind of internal terrorism is the fact that this business practice keeps profits away. It runs as part two on the list that can improve and produce improved profits. Recognize when when you have stepped on your associates feet. Admit it, correct it and acknowledge it in a professional way.
Part three.
Page two.
Clever ideas work some of the time. I know. I try them all of the time. I am a pro at coming up with clever ideas. Did you know what I have discovered in my near 40-year history? Clever ideas do not work their magic enough. I have wasted much more valuable time coming up with clever ideas that do not work than I have spent getting to the truth and fixing my wrongs with immediate resolve. The process to resolve internal issues works best when you become the goat and admit when you are wrong. The sooner you perform this step the sooner you return back to the process that produces improved profits. It is usually this simple.
Business leaders are wired to have large egos. I know. I am one and I work with hundreds of them. They come customarily packaged with strong egos. This strong ego is exactly what great business leaders need in order to do what they do well. However, it is the same very thing that kills them when they allow that strong ego to get out of line. Get that ego placed back into shape. Control it. Learn the art of managing your strong ego. Make sure you operate your leadership roles with a seriously 'checked' ego. Never catch yourself permitting your ego to run 'unchecked'. It will help your business model chase away some very good talent. Sometimes that talent steps across the street and becomes part of your competitors team. This kind of mixture only feeds their desire to eat your lunch. I see it happen too many times. Your customers will go their way. Keep that ego in check. Everyone sees your ego much better than you see it, too. It is not something you can easily hide. Trick yourself, I don't care. Your profits will know the truth.
Part three to profits is to manage your ego better than you ever expected to manage it. If you have problem controlling it, good luck with trying to improve your business profits. Profits are very shy. They hide from out-of-check egos. You do not need to believe me on this one. You are likely already proving it.
Three parts to profits. First one, learn how to delegate properly. Second one, know when you have stepped on your associates feet and manage that repair professionally. Thirdly, get your ego in check. Manage it better than you ever expected. Maximizing the control of these three parts will help your profits soar. Go to work on them. Do not skip over them like they do not matter. They control your destiny. They govern your profits. They hold the key to your business success. Treat them with increased respect.
If you choose to ignore these three parts to profit, you will add the one part that guarantees losses. Stubbornness. Your stubborn way is the only guarantee you have to fail at producing long term profits. Remain stubborn and live poor. They come packaged together. They cannot be split apart.
Three parts to profit, one part to loss. Have fun fixing you. Oh, by the way...once you get this bogged down stuff corrected, we can now work on building your business model. That is the kind of work we really need to be doing.
Until next time...
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