As I was writing my last newsletter, on 10 Mind-Altering Tips to Maximize Your Impact in 2020, one tip I wanted to include was “Be Bold.” Having a list that can go to 11 is good, but I didn’t want to overwhelm your altered mind. So I stuck with 10.
But I believe being bold is key to success. So, what does “Be Bold” mean in business? It means making the decisions that you know are the right ones even if they might require hard work to implement. It means having the courage to say no when you feel like you should say yes.
A client recently had to face the realization that an employee in a critical position wasn’t performing at the level they needed in order to achieve their strategic vision. I was asked to assess the employee and his contribution to the company. Could the employee be coached for success or was he subject to the Peter Principle?
Fortunately, I was able to recognize the areas that needed coaching and development and work with the employee to augment those areas. The employee emerged with a stronger vision of leadership, a sense of direction for his department and the skills to hold his team accountable for results. This engagement increased departmental productivity, resulting in an annualized profitability increase of $125,000. While the end of this story was a good one for the company and the employee, sometimes the difficult decision has to be made to free the employee to excel in another organization.
Many businesses will accept reduced performance from a long-time, loyal employee. But at some point, every business reaches the conclusion that not addressing the issue will impact the health of the company. The business owner willing to Be Bold will see that issue and take steps prior to allowing it to impact performance.
Do you feel like you could be bolder in your leadership? Are there opportunities for your employees to increase their performance? If you answered yes to either of those questions, call me or email me. I can help you address those areas and get you on the path to profitability.