Lead to Achieve Bottom-Line Results
Most leaders have varying business objectives that fluctuate according to their personality, personal and professional goals, background, experience, industry, and so much more. But, the bottom line is that nothing should affect the way a leader leads more than the bottom line itself.
At the end of the day, our leadership is pointless if we don’t have profits. Without a profit, our doors close, our employees go home, our customers are left empty handed, and our products and services are put to waste. So, what are you doing to lead to achieve bottom-line results?
Bottom-line driven behavior is not overly complex; in fact, the simplest thing you can do to shift your leadership strategy is to change your perspective. Oftentimes, as leaders, we are either too focused on our image, too selfish to see the big picture, too people pleasing to prioritize, or too scatter brained to simplify. Now, although those things will eventually influence the bottom line in one way or another, they are not to be the destination, nor should they be the starting place. We must begin and end with the bottom line in mind, especially if we hope to sustain and grow our business.
How do I change my perspective to bring about the best bottom-line results?
- Build on your best business.
- Start with where you’re experiencing success. Once you know what’s working, you can water it well and make sure that you assign the right resources to reap it for all its worth.
- Where do you experience the largest margins? What products or services have consistently been your best profit generators? What are your most committed customers purchasing?
- Brainstorm the biggest bottom-line barriers, on your own and with others.
- Without around-the-clock, appropriate attention, your expenses are bound to increase over time. The best part of this reality is that expenses can almost always be managed better.
- What are your largest expenses? How have they grown over time? Who is managing them? What elements influence each expense? Where can you cut and control?
- Authorize appropriate chain-of-command channels.
- As a leader, it’s not necessary that you’re intricately involved in every detail, but it’s critical that every employee has access to you in one way or another. Empowering your employees is an easy win-win solution that immediately implies that each individual has a reason and a right to be invested in the success of the business.
- So, what avenues are you making equally available to every one of your employees? And how are you communicating that these channels have been created?
Leading to achieve bottom-line results means you must build upon your best, break down your barriers, and carve out your communication channels.