Growth is Not Easy But It is the Only Option

In order to grow in your ability as a business leader you must change. This is basically an empirical law . . . there are no exceptions to this!

 

GROWTH = CHANGE

Before you change, it is wise to understand that any change is accompanied with a certain level of disruption. This is also an empirical law. The amount of change you go through is directly proportional to the level of disruption you experience.

CHANGE ∝ DISRUPTION

And, with any disruption there is always discomfort! In fact, the level of disruption is proportional to the level of discomfort that you will feel.

DISRUPTION ∝ DISCOMFORT

How to Increase Profit and Wages Simultaneously

All business leaders today are looking for ways to decrease costs, while increasing productivity and profit. Many businesses today are taking a one time profitability boost by reducing costs at the expense of the employees.

Cost cutting always seems to be the first action taken by companies as they try to increase their profit. I understand that some businesses are in trouble and this may be their only recourse. However, many businesses rely on this cost lever rather than looking at all the other options available to increase profitability.

Henry Ford

Most people know that Henry Ford was quite famous for piloting the assembly line factory and for increasing the productivity of his factories. But did you know that he was able to simultaneously increase profits while decreasing production costs, increasing productivity, and increasing employee’s wages?

Play By the Rules But Be Ferocious

“Play by the rules but be ferocious” is the advice given by Phil Knight, co-founder and past chairman of Nike. I believe that all of us need to take this to heart and make some adjustments in how we lead and run our businesses!

There is no need to be ruthless, dishonest, nefarious, or unscrupulous in any way. However, if we want to grow our businesses we need a “fire in our belly” . . . we need to be ferocious!

Can you imagine if your favorite professional sports team was not driven to succeed? I know we always complain about the overall performance of our teams (like the Calgary Flames!) but when you watch them play, they do play the game ferociously. Anything less would be pathetic!

What if this season they decide they are going to play a non-contact style of hockey? Or what if their leadership fails to create and communicate a strategic plan for the season? What if they fail to assign team members to positions or to clearly define the roles each team member is to play? What if they don’t build a sales and marketing plan and fail to reach the sales targets they need to remain viable?

The Elite Consulting Mind

16 Proven Mindsets to Attract More Clients, Increase Your Income, and Achieve Meaningful Success

The book review for this week is The Elite Consulting Mind by Michael Zipursky.

In this book on setting yourself up for success in the consulting world, Zipursky details his thoughts, techniques, mindsets, and philosophies around setting up a successful consulting business. Although I did not find any great pearls of wisdom, the book contains a lot of solid consulting advice.

My takeaway from this book is Zipursky’s 16 mindsets listed below:

Do You Run From Challenges or Do You Face Them Down?

There are people who shy away from challenges and then there are people who are energized by attacking challenges and “defeating” them!

There are pros and cons to both approaches. However, I am not aware of any great accomplishment or breakthrough ever happening because someone was running away from a challenge!

All major technology, medical, literary, artistic, or other societal impacting breakthrough has happened because someone identified a challenge, took it on, and solved it!

I was reminded of this by my grandson Jett. He is going through a phase where scaring him does not result in him running away. Rather, he turns towards the “threat” and runs directly at it. He is challenging the threat!

This does not mean that he is always successful in “defeating” the threat. In fact, most of the time he fails . . . but this does not deter him or keep him from trying again!

And, as business leaders, this is what we all should be doing!

Things You Can Count On By Taking on Challenges