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Monday, September 21, 2009
A healthy economy or your best employees?
As a small-business owner, I’m accustomed to focusing on numbers. Did we hit the goals for the month? Were we able to improve sales? Did we increase profits?
While I know it’s important to keep a close tab on financial metrics like these, I’ve seen owners turn numbers into an hourly obsession.
As a business leader, ask yourself, which would you really rather have today: A healthy economy or the ability to replicate your best employees and the experiences they deliver for your customers?
This might seem like an odd question, but in a down economy it is more important than ever to define expectations for employees, communicate effectively and hold everyone accountable to deliver the results that keep your business going.
In the years ahead, there will be three things that will most impact the growth of your company. Unfortunately, two of them are completely beyond your control:
1. The economy. It’s ugly right now and you can’t control what happens next.
2. Your industry. You’re just one small part of the segment so you have minimal impact.
However, the third thing you have total control over:
3. Your employees. You totally control this, so you can replicate your best employees to drive experiences to a new level.
Make no mistake. It doesn’t matter if the economy is booming or if it’s a bust. You will win more and lose less if your employees stay consistent with delivering the experiences that customers value most. In turn, customers will thank you by providing their loyalty and by going out of their way to promote your business and share their experiences. And, by the way, so will your employees!
Monday, September 21, 2009 03:38:35 PM
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