Leadership Thought #438 – Good People WILL Leave Your Organization

If you employ people, the reality is that employees will come and go. It is extremely rare that someone will take the entire business journey with you (or that you should want them to). A good company still experiences 10-15% turnover each year. One of my old bosses once told me that “The only certainty he had was that he was there at the beginning and would be there until he sells out or hands off the reigns to someone. More than likely, just about everyone else will come and go at some point. All you can do is strive to maximize the mutual benefit of the employer-employee relationship while they are here. You want to create an environment where good people want to stay, but accept the fact they will eventually leave, often for reasons beyond your control.” At the time I thought this was a bit cynical, but I see his wisdom more clearly many years later (Note: I left).

Leadership Thought #448 – If What You Are Doing Isn’t Working, Then Try Something Else

One of the most frustrating and disheartening things that someone in my position has to deal with are leaders who have a tendency to ignore reality and follow a flawed strategy or other key decision off a cliff. Pride almost always gets in the way as he/she thinks that changing course would represent failure or unnecessary pain. Usually there is a difficult decision that has to be made about people, finances or the current business model (sometimes all three). The inability to make these types of decisions tends to lead to one outcome – failure. A reasonably competent leader may delay the timing but the end result is inevitable.

Leadership Thought #442 – A Few Basic Truths About Business

Here are a few basic truths abut business to help ensure your success: It all starts with simple math.  The formula is pretty straightforward: Revenue – Expenses = Profit.  You need to sell enough of something and price it properly so that it exceeds your costs of doing business.  Knowingly taking work at a loss […]

Leadership Thought #432 – It’s Your Business Sandbox – Manage It Carefully

When you own your business it is your sandbox. You get to decide who plays in it and what happens inside. Just remember that these decisions also have consequences. As an advisor to my clients, my role is to get them to appreciate this fact. I’ve often watched people make decisions that I don’t agree with. Sometimes I am right and sometimes I am wrong about what happens next. My track record is usually pretty good but far from perfect. I just want to make sure that these decisions are somewhat informed and well thought out. I am fine with being pleasantly surprised by good results that I didn’t foresee or anticipate. I learn from these situations as well – never underestimate the resolve and creativity of a committed leader. Most importantly, I strive to ensure that these decisions are aligned with the outcomes the client is aspiring to achieve. Success can be defined in many different ways and unless there is a moral or ethical component, it is not my role to judge.

Leadership Thought #423 – There Is A Fine Line Between Persistence and Stupidity

I am a firm believer in persistence and determination. Many people give up just before things are about to break their way. However, it never makes sense to go off a cliff simply because it is there. Not every strategy is wise and not every course of action is worth continuing. You need to pay attention to the signals the universe is sending you. Trends either move up or down. They rarely remain flat. Sometimes the objective evidence indicates you should try something different.

Leadership Thought #366 – Celebrate Your Peers

There is a dark side to our competitive nature as individuals that often begrudges the success of others. I’m not sure why this and there are probably many psychological and neurological explanations. What I do know is that individual success is good for a community. In business this means more people get hired, employees have steady and stable incomes, more vendors get paid, tax revenues go up, charitable giving increases,and more discretionary dollars are spent on other things. The good news with entrepreneuers is that most of the fruits of their success stays local. We should root for as many people to be successful as possible.

Leadership Thought #358 – Celebrate Your Successes!

It’s very important to celebrate your accomplishments! It’s easy to get wrapped up in the day to day aspects of running an organization and forget why you are working so hard in the first place. Being in business can be a bumpy ride especially these past few years. However, if you’ve been in business for any prolonged period of time you must be doing something right. And, it’s important to recognize those events, milestones and people who helped you get here and increase your likelihood of continued success in the future.

Leadership Thought #335 – Navigating A Seasonal Business

Business is hard enough with encumbering it with seasonality issues. I’ve seen many talented and hard working small business owners struggle under the weight of non-seasonal business volume. It’s hard to staff properly, keep good people and manage your cash properly. If you’re not careful it can begin to feel like a “feast or famine” situation which over the years can start to wear you down. Of course there are many people who manage to navigate the “ups and downs” properly, but they are usually pretty disciplined about their business leadership actions. If you are in a seasonal business environment, I encourage you to consider the following:

Daily Leadership Thought #108 – Why I Like Entrepreneurs

I’ve always enjoyed the company of fellow entrepreneurs and small business owners. It is inherent in their nature to be risk takers and problem solvers. They are rarely satisfied with the status quo and are regularly looking for new and better ways to do things.