prioritizing the fundamentals
Prioritizing the Fundamentals of Profitable Businesses
To succeed in the game for profitability every business must prioritize three fundamentals before diving too heavily into the details of the business’s particulars. The people inside the company, the delivery of service to people outside the company, and balancing the finances and costs to run the business – in that order. An organization who fails to prioritize these principles correctly and allow them to be the structure for the company’s culture most often eventually fail. To experience the benefits of this model it must be embraced by the executive leaders and championed from the top down.
1) People always come first. Always.
Only when the people of an organization are managed, led and coached effectively will they consistently deliver amazing experiences through their role. If the human resources that run a business are not trained, compensated, and recognized properly, they should not be expected to deliver exceptional service. Only after the people that drive the business have been confirmed competent and cared for, should the services of the business take an investigative precedence.
2) Service is Second.
It’s the way you “do-what-you-do” with the product or service you give to people that attracts them to, or repels them from your brand. Learning how to convert on what your customer ultimately desires from you and then exceeding their expectations on how they thought you would do it, is the service solution. Only once the alignment of successful people and highly satisfied service experiences is cemented into the company’s non-negotiable DNA, are decisions founded on cost to become the focus.
3) Important as it is, cost management is third.
Are the revenues brought in and the expenses going out sufficiently balanced to create the gains expected by all stakeholders? The common problem is that far too often a thorough examination of the first two fundamentals is skipped or incomplete before reacting to shave costs in various areas. Cost adjustments will never support peak profitability when great voids exist in the proper management of the people and service.
Because measureable conditions and rules exist to define the range of possible outcomes from costs, that pillar is usually the easiest of the principles to manage with repeatable success. The variables in human beings are guaranteed and infinite, and therefore make motivating performance through people management the most challenging to master for most.
The success of this fundamental model is predicated on a relationship – where you manage the details that are your business, while we specialize in motivating the performance of the people that run your business.
What thoughts do you have about the way motiv prioritizes principles? Share additional ideas for success you stand by in the comment section. Let’s find your motiv!