GET REAL

Donna's blog on coaching, leadership, and life

Profitability requires a leader’s sharp focus.

Had this article published this week (4/29/14) in Rochester’s Democrat and Chronicle (Business). Wanted to share it with you.
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Profitability requires a leader’s sharp focus.

Let’s face it, regardless of how customer focused, or altruistic your organization’s mission is, profitability is clearly a primary goal.

One of the most significant jobs a leader has to achieve high levels of profitability is to keep focused on sustaining the organization’s health and success — not only financially, but in every aspect of the business.

If you’re a leader of a highly profitable company, here are a few considerations you may want to re-visit to help sustain your organization’s growth and success:

– Your excitement may have you feeling empowered towards innovative thinking and new initiatives. This is great, as long as you’re also focusing on the strength of your infrastructure to best support work volume and future success.
– Employees most likely have to work very hard for an extended time to reach high profitability, be sure to keep their morale and stamina in mind. Employee satisfaction and retention are still the most important contributors to future
profitability. Ironically, times of high profitability can lead to low employee morale. It can be induced by exhaustion, or an awareness of the discrepancy between rewards reaped by owners and high-level executives as opposed to middle managers and staff. It may be time to address staff-wide meaningful rewards and recognition.
– Interestingly, when your company is experiencing a surge of abundance, you may find yourself more cautious about spending money. In our current business environment, it’s essential for leaders to assess and invest in resources to keep companies on the cutting edge.

Here’s to fully enjoying a profitable and successful organization, and effectively leading all who are involved in keeping it that way.

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