We’re bored with profits.
In fact, frankly, we’re sick of them.
Not in the traditional sense, of course.
Profits for your business are good. They mean more cash and more success.
But we’re bored with profits because time and time again we’re seeing companies defining their goals and their reasons for existence as just profits.
Instead, we’re excited by words.
In fact, we’re in love with them (can’t you tell by our blogs?).
Because before thinking about managing time, managing a team and managing your business, you need to create worded goals that define your reason for existence.
Coaching business is like coaching any team. Before we tell our clients to go out and there and start making money, we always get them to work out the reasons why they’re making money.
Motivation doesn’t come from profits alone (particularly for your team).
Motivation, and building a budding business team is about having a great vision, a pillar to stand the rest of your business on top of.
But Don’t Believe Us…
Sometimes we can be a bit sensationalist at our Melbourne office. We sometimes like to come up with exciting blog posts like “profits are boring” but write a whole lot of stuff and not give you a first insight into what we’ve seen.
So don’t believe us. Believe what we’ve seen as our time as coaches.
One of our medium-size clients was a Melbourne software company (I told you we love words!) that wasn’t built on profits. The company, which offers an end to end, all-in-one software package that organises operations for clients to run their business, had many well-structured goals from the very beginning.
They knew that there was a niche within the retail market and set about offering a great product that definitively serves their particular niche. They built the business to deliver the best product and service to their target market. Their highest priority was pride, not profit. They wanted everyone in the business to be exceptionally and personally proud of the product and service they delivered.
All their judgement calls, all their decisions, all their processes and actions are defined by this goal. It’s what everyone within this outstanding business responds to, aims to be and strives to achieve.
The proof is in the pudding* (and not just in our brilliant business blogs); the pride paved the way for the profits.
See, profits are boring, right?
And words, through strong goals, are exciting and brilliant because they help guide a team and motivate your staff to get the most out of you, them and the business.
So what do you use goals and objectives for?
Do you have types of goals that are more successful than others or do you think profits aren’t boring, but rather central to everything your business does.
As usual, let us know what you think, drop us a line and say g’day!
*This client’s pudding was a particularly sweet one; earlier this year the business owner sold to a global software firm for a price that was double-digit on earnings. Sweeeet.