December 20, 2019Marketing
Profit does not equal success!
Boy oh boy, how do we broach this subject?
The fact that many businesses are; inefficient, disorganized, chaotic, unfocused and definitely lacking in vision. Yet, with all these negative traits they somehow still manage to be profitable. Sometimes, so profitable that money gets flushed in the ole’ crapper and life continues. A head scratcher for sure!
Are you ever in the position where you see things over and over again, you scratch your head over and over again and finally, yes finally you get to the point where it pisses you off? I for one, have been there one too many times. So much so that I had to sit down tonight and get this out of my head so I can clear the space and focus on something else. UGH!
Given my beloved chosen career path and history of owning several businesses I have been blessed tremendously with one key thing. Perspective. I have been fortunate enough to have wise people engage, correct and corral me in such a manner that I have made it a mission to see what others are missing and then address it.
There is Ed, the old school New York Italian accountant that made me read the E-Myth, Mike the 350z aficionado who taught me how to listen to customers who felt entitled, Frank the overgrown cowboy millionaire that taught me how to leverage my mind to achieve directed agenda’s, There’s Al the famous marketing guru who taught me how the human mind perceives reality and why it is neglected by common logic, Bob the 3M VP who displayed the utmost professional dialog methodology I have ever seen, Robyn who displays humility regardless of position and last but certainly not least Joel, the self-made man who taught me how to be honest with current reality.
All of these experiences have taught me how to look at things from the inside then assess the outside. What the customer sees, what is really occurring and what the insiders view as reality. This is both awesome and stressful. Just saying, anyhow that being dumped on you let’s get to some facts.
There are so many dynamics that go into running a business that this post is nowhere close to covering them all so I am going to try to keep it simple. Call me or take me to coffe and we can break it down further. Deal?
You can be profitable and a complete wreck.
If you have an offering people need as oppose to want and you provide that need to even a small degree you may be profitable and a wreck.
This is not acceptable, you should be solving that need better than anyone else and yes this includes operations, staffing and focus. Especially because you are filling a fricking need. This is more like being a thief, every business should deliver their best efforts and focus hard on running well by providing a killer service.
If you have an option that has not reached the level of market saturation with other options and it’s an ok experience you also may be profitable and a wreck.
It is only a matter of time before someone decides to compete with you and kick your arse. So look at the need guy and see what he / she should be doing and go do it.
If you feel like skeletons and substitute cheese are ok and your offering is still palatable you may be profitable and a wreck.
This only last’s so long. You need to look at unique and figure out what need is doing to be better.
If you have enough disposable income that you can somehow keep new traffic coming in by spending a crap load on advertising you are a wreck, not probably.
I just want to know how you got rich? Was it an inheritance or good luck because you sure didn’t start on the ground floor with that attitude oh and btw, great brands are built not bought. Go read an Al Ries book or five.
If you hire staff to solve a personal problem not a professional one because you want to be comfortable you are a dumb wreck
You kinda deserve the predictable outcome, because by not hiring for the business and serving yourself, guess who get’s the short end of the ole’ stick? Time baby, time.. Enjoy it while it lasts.
The bottom line is simple in business...
Oh, life in general if I forgot to mention that. You get out what you put in and there is nothing in this word that does not come without consequence. As a business owner you should ask yourself;
1. Is my team efficient?
2. Is my team appreciated?
3. Is there a process or a flow that is liquid or better yet, does it mimic a mind like water?
4. Are my customers / clients getting a great value, whether it is felt or perceived. Whatever. But.. Your business depends on this.
5. Are we learning and maximizing our efforts constantly?
6. Are we all driving toward the vision, the mission, the purpose?
Success is not always relevant to profit but it is truly a sad case when your in the green and not striving to be the best and in all honesty being wasteful and irresponsible. That right there is something for you to chew on.
Profit does not equal success!