What’s more important to a business than its people, their time, and the capital it consumes?
Just how important are employees to a business? Business guru and entrepreneur par excellence Marcus Lemonis sums it up perfectly:
How often have you heard a company say, “Employees are our greatest asset”? It is a favorite saying in the business world and one that Marcus Lemonis emphasizes at every opportunity. “The customer is not No. 1 to me,” he said. “They’re No. 2 – right behind the employee.”
That’s a powerful statement. But if you think about it, we are only as strong as our weakest employee.
If your employees and strategic leaders are not the right fit for their roles or are unempowered and overworked, your business will decline. That is as inevitable as gravity.
So what can you do about it?
This post will discuss the three most critical aspects of your business and how they are interrelated and requisite for your success.
We’ll close with real-world resources that will empower you to take immediate action to get your business on a path to success, without breaking the bank.
In any business, its people and how they spend their time will have the most significant impact on the bottom line. Companies produce results based on their use of human capital. The outcomes of enabled human capital will manifest in increased productivity, employee engagement, improved operational efficiencies, and a stronger bottom line.
As William James famously said, “Truth is the cash value of an idea.” In most businesses, your bottom line will reflect the cash value of an optimized, empowered team.
Your people, their time, your time, and your business’s capital are inextricably interconnected.
People
Leadership starts at the top. As a business leader, your most important role is to develop and share a vision for the future. That vision will unify your company and your team around a common set of objectives.
When your primary business objectives are clearly articulated, and your team is capacitated to act, a more cohesive, functional, healthy leadership team immediately starts to emerge.
Time
Now it’s time for an empowered, goal-focused leadership team to create focused, disciplined, accountable teams throughout the company.
You trust your team, and you’ve confidently delegated the responsibilities to implement your strategic vision to them. Now you have time to work on your business instead of in your business.
With their newfound agency, your leadership team has the time and resources they need to build healthy, functional, cohesive teams of their own. These teams are now built on trust and focused on results. Everyone in your business understands how to execute your strategic vision daily.
Money
When your people are engaged, energized, and motivated to spend their time driving your strategic vision, that energy will manifest in the cash value of your business.
Sometimes as business owners we become so engrossed in our day-to-day operations to take a step back and see what we’re truly capable of.
Can you use some help taking that little step back that will give you a bird’s eye view of what you’ve been missing?
Our passion is helping teams discover their extraordinary so they can achieve extraordinary things.
We want to hear your story, and it starts with a complimentary consultation. That’s right, nothing to lose and everything to gain.
Our team has over two decades of experience in senior leadership roles in Fortune 500 and privately-owned companies to share. We’ve helped dozens of companies across a broad spectrum of industries deliver significant top-line growth and profitability.
Our passion is helping companies scale their operations and build high-performing leadership teams to execute on their future as a dominant force in their market space. Are you ready to get started?
Call us at 415.991.4961 or get in touch with our team online today to schedule a complimentary consultation.
The post People, Time, and Money—How to Manage Your Most Important Assets appeared first on Fifth Ascent.