Management myths are ruining businesses.
There are many management tips and tricks floating around there, and most of them fail to address one critical aspect. That is, profit.
Profit isn’t everything. It’s the Only thing.
Managing for Profit
Why are you in business? To make a profit
If you’re spending time, effort, or money on your business, why is it? To make a profit
So, when management is concerned it should be to make a profit.
Not to be the best boss of the year, or the most enjoyable work place of the year.
If you achieve these things after turning a profit, then consider it an added benefit.
When you’re hiring employees, what are the things you look for?
Most business owners would say tings like, “reliable, honest, loyal, trustworthy, intelligent, motivated, etc…” Now, all of these traits are useful to have in an employee, IF he/she has one key aspect: profitable.
The only employee you need as a business owner, is a Profitable Employee.
The only reason to have an employee is to make a profit. Period.
Not because you have a friend, not because you want to provide jobs for relatives, not because you don’t like working alone, or you want someone to hang out with.
The only reason you hire a person, is so that they make you a multiple of what you pay them.
If you want a friend, buy a dog. Don’t hire somebody.
The only reason you hire someone is to turn a profit.