This blog originally published in Printing Impressions
What does your leadership team look like? It should include your key managers and company leaders, those who play a significant role in making your clients happy doing business with you, attract the best people, produce great work and — a byproduct of those efforts — help you to reach your profit potential.
But what is your true profit potential? Is it breaking even? Being on par with the industry profit leaders? A lot has to do with how solid of an engine you’ve built. By that I mean, do you have the right people, who are totally engaged and working on the right things for the right reasons, or do you have something that looks different?
I’ve written before that you get what you tolerate. That goes for everything from training puppies to leading an organization. The challenge is to take a hard look at your team and determine where you are. You probably have a mix of all-stars; average players who, with coaching, could do better; and some that, while they played a key role in getting you where you are today, may not be the ones who can take you to the next level – your true profit potential.
Once you’ve identified these issues, then you must decide what to do about it. You can address it head on – rip the bandage off, try to fix it and coach them up, or determine if you need different players on the roster. These are not easy decisions, and should not be made on a whim. But these decisions do need to take place to build the strongest team possible and grow the business.
I would love to hear what’s working for you and the steps you took to reach your true profit potential. Leave a note in the comments with the tips and tricks that made the most difference in your organization. Good luck and have fun.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at email@example.com.