How Business Owners Can Maximize Profits, By Investing In Personnel - American Management Services, Inc

How Business Owners Can Maximize Profits, By Investing In Personnel

American Management Services, IncBusiness Financial ManagementHow Business Owners Can Maximize Profits, By Investing In Personnel

Last week on Forbes, I wrote “Why Business Owners Should Never Let Ego Stand In The Way Of Profits,” which focused on the importance of business owners not losing sight of what’s best for their business, by letting their own self-interest get in the way. This week, I’m focusing on another obstacle to achieving maximized profits, and that is properly investing in your people.

I’m a firm believer that owners are in business for one reason, and only one reason, and that is to maximize profits. Every other reason is made up of theoretical, hypothetical, make-believe, and touchy-feely thoughts that are created to make you feel good about being in charge.

The only thing that’s real in business is maximizing profits, and the only way you are ever going to maximize profits is to find extraordinary people, treat them extraordinarily, and reward them extraordinarily for extraordinary efforts and results.

In the case of people vs. profits, or profits vs. people; you can’t have one without the other, especially if you have aspirations to grow your business beyond a 2, 4, 10, 20, 100 million dollar company.

You need to attract exceptional talent to be successful, and that means treating them extraordinarily, incentivizing and motivating them to perform, and giving them opportunities that will make them want to stay with you. Offering your people a forward-moving career path, that will help them grow both personally and professionally, will not only create a stronger staff and dedication, but it will also maximize profit by default.

Years ago, we had a client in Ohio, who had about 80 employees and was doing about 12 million dollars. Determined to grow his business, he began investing time, energy, and money into training and developing his people.

He’d bring in outside consultants and speakers, and dedicated his energy to developing his top 1/3 management and personnel, and has since seen his business quadruple! He’s not only improved the lives of his staff, but he’s also secured the effectiveness and profitability of his business.

If you think maximizing profitability is not your number one objective, than I guarantee you, you are not maximizing profit! Profit is not a four-letter word, and you should be proud that you desire and demand maximizing profitability.

By teaching, coaching, mentoring, developing and focusing on the advancement of your key employees, you will be securing your future, as well as theirs, and at the same time maximizing profit.

If you want to maximize profit, then maximize your investment in your people!

Are you ready for a challenging career? Join Our Team!

We are American Management Services, Inc, and we are seeking business professionals who have the depth of experience, knowledge and skills necessary to help small and medium-sized businesses become more profitable and succeed.

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