Don’t Run Your Business Without These Two Things, with Bill McDermott, Host of ProfitSense
In this commentary from a recent episode of ProfitSense, Bill talks about two things you shouldn’t neglect as you run your business.
Bill’s commentary was taken from this episode of ProfitSense.
ProfitSense with Bill McDermott is produced by John Ray and the North Fulton Studio of Business RadioX® in Alpharetta.
Transcript
I want to take a moment now to talk about “don’t run your business without these two things.” And today I want to talk about the two things that you should never When our company is growing, sometimes we hire people that don’t share our core values or core focus.
These people may behave in a way that we don’t understand because it’s not who we are. We’ve all heard the quote, “if you don’t stand for something, you’ll fall for anything.” Early in my coaching meetings with clients, it’s critical to find out what they stand for, even if it means taking a loss in their company.
I also had to determine what my core values were when I started The Profitability Coach 15 years ago. So when you’re running a business, it’s crucial to first decide on your core values. Some of mine are adaptability, empathy, and being strategic. If you’ve never done this exercise before, I encourage you to take some time to determine what you stand for and hire people who believe in the same things you do. You may even think about developing a core value speech that you share with each person that you’re thinking about hiring.
Second thing is we must choose perseverance. Very early in my life, when didn’t want to do homework for school. My dad told me anything worth doing. Is worth doing well.
Studies show that perseverance is an essential quality for success in life. It often tops aptitude and raw talent and is a more accurate predictor of success in life. When I was laid off at 54 years old, after 32 successful years in banking, I started The Profitability Coach at the height of the great recession with one idea in mind. I had a dream to make business owners, better financial managers of their businesses. 15 years later, I would not be where I am today without choosing perseverance.
So if you’re a business owner or CEO, make sure you’re not operating without these two things.
