Author: PeopleTek Coaching

Without profit, jobs will be eliminated and companies will fail.

As we wrap-up our series on “what do leaders really want from their staff”, we’ll tackle the topic of profit.

As a reminder, we’re linking the 5 P’s of Leadership with the 5 P’s of Ownership:

1. Passion
2. People
3. Plans
4. Persistence
5. Profit

As leaders, we make decisions every day that are critical to the success of our organization.

Decisions can be costly and impact the bottom line; decisions can also be brilliant and realize not only savings, but improve customer and employee satisfaction levels. That’s profit on multiple levels!

As everyone begins to understand their organization’s strategy, and has the ability to link behaviors, processes and tools with that strategy, profit will be impacted.

Providing new ideas and fresh thinking, and helping others understand new directions and opportunities also impact profit. We need to know:

• What business are we in?
• Who are our customers?
• What services do we or could we provide?
• What do we want our department/organization to be known for?
• What strategic alliances do we want? How do you find them?
• Where do you want to take your organization in the next 3-5 years?

Sustaining and increasing profit margins requires change. We must accept it, own it, and be an advocate for change. As leaders we need to be aware of the impact the change will have, from both a personal and organizational perspective, and clearly communicate what that impact will be.

Growth and leadership also increases profit. It is important to know that what you’re doing increases the profit for yourself and the company that employs you. We own our careers and must take personal responsibility for the value we provide. There must be financial gains and there must be emotional gains or jobs will be eliminated and companies dissolved.

Emotional profit is another piece; you must take risk, be innovative, and be purposeful. It’s important to invest/experiment/research new approaches for growth in order to add value for your customers, employees, and organization. This requires creativity and the ability to step beyond the barriers and artificial lines that we often create.

We know one courageous leader that has an entire unit looking for innovative ways to increase local revenue; one idea was to add programs that appeal to various segments of their market.

Realizing profit takes patience, persistence, planning, people and passion (and that takes us to 6 P’s for Leadership and Ownership, not 5, since we added patience!)

What are you doing to increase profits?

People are definitely a company’s greatest asset. It doesn’t make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps.
–Mary Kay Ash

Our series on “what do leaders really want from their staff” continues, with this week’s topic being PEOPLE.
This is the 2nd “P” in linking the 5 P’s of Leadership with the 5 P’s of Ownership. The 5 P’s are:

• Passion
• People
• Plans
• Persistence
• Profit

We’ve all heard that “people are our greatest asset”. It’s true. Owners know what they want, and know that they most likely need others to help them achieve it. They have a clear vision, and have a strategy that supports that vision. And, they know how to hire the right person for the right job!

I was listening to a local radio sports program where Jimmy Johnson was interviewed. (He was coach of the University of Miami and won a national championship, coach for the Dallas Cowboys where he won 2 Superbowls, and coach for the Miami Dolphins, where he made it to the playoffs).

There’s no doubt he was successful in his career. He knew how to find the “right” talent. During the interview, broadcaster Dan Sileo asked the questions: “what criteria do you use when hiring?” and “what do you look for in talent before you hire them or bring them into your organization”?

The answer is critical to our topic of ownership; it’s what makes a coach and leader successful. Think in terms that all good leaders are coaches. Assuming you agree, can you state what your hiring criteria is, and what you’re looking for before allowing someone to become a member of your team or organization?

Coach Johnson, without hesitation had the following response:
“Dan, we use 5 criteria when hiring and selecting someone to be on the team.”

1. Intelligence – He defined this as being smart, acting smart and understanding the technical requirements of the game. Not making dumb decisions, and exhibiting appropriate behaviors.
2. Play Makers – He said this meant the player needed to be a competitor and be found everywhere the ball was. When the going got tough, they became even tougher.
3. Passion – They needed to eat, drink and sleep football.
4. Gym Rat – When they were not playing football, they played other competitive sports and could be found doing something daily to remain in excellent shape.
5. Character – You must consider how they will fit on the team. Are they truly team players and do they create a positive atmosphere for others?

The reason I was so impressed is that it flowed so easily. It was not something that Coach Johnson made up, but rather criteria he lived by and admittedly had refined over the years.

I think (and would stand by the fact) that this is what separates his winning record from other coaches. He knows what he wants, is clear about it, and doesn’t budge. He matches his wants and desires with a sound plan to win.

As leaders have we clearly defined what we want in our people? On our team? In our organization? Does everyone know that criteria? Do we deviate from it?

I would be willing to speak to other coaches and leaders that want to discuss more about this subject, would be interested in your thoughts, and welcome opposing views!

Owners display passion and make positive differences

Last week we started talking about “what do leaders really want from their staff”, and came to the conclusion that they want their staff members to act like owners.

Now we want to take it to the next level and link the 5 P’s of Leadership with the 5 P’s of Ownership.

As a reminder, they are:

• Passion
• People
• Plans
• Persistence
• Profit

Today the topic is PASSION.  This is the P that provides a sense of purpose and drives all direction.

Do you think loving what you do impacts your ability to act more like an owner?  Too often people are in jobs, and equate that with a paycheck, versus nurturing a career, where growth, opportunity and a sense of accomplishment is felt.

Have you ever been in a meeting where the leader lacks passion and you’re uncertain as to what their purpose is? We have! The dispassionate leader comes across as performing a routine task, perhaps seems a bit disinterested, and appears like they don’t really want to be there.

This impacts all participants.  When attendees are not engaged they “zone out” and look for other tasks to complete.  We’ve observed emails been done during meetings, and even when noticed by the leader, nothing was said.

Is this because they lacked passion? What if multiple leaders in an organization lacked passion? Is time being wasted? Are results weaker than expected?

Let’s face it; we’ve all lacked passion at one time or another. They key is to recognize when and why this is occurring.  Are we tired, frustrated, overwhelmed, more focused on personal issues, or perhaps unhappy in our current role?

If you’re experiencing low levels of passion, ask yourself “why”.  Next, assess how you plan to address it, and if you’re open to change.

If you want help resolving these questions, contact us.

On the larger scale, if our culture permits passion to be low, what are the ramifications?  We’ve seen it where an entire organization became transactional and uninspired, compared to being creative and transformational.

Are we as the leader of such teams willing to be open? Receive feedback? Change and lead others through change?

If you wish to discuss how to achieve greater results for yourself, your team, and your organization, click here.

We welcome your questions, comments, and suggestions!