But would you really want this as your business epitaph?
All too often, in my view, business leaders and senior managers cling to an unalterable belief that imposition of their way of doing things on their staff is the right way forward. They think that that’s what they’re paid to do.
When it’s not.
They’re paid to find the right way forward for the business for which they are responsible. And the right way forward will emerge from tapping into the reservoir of intelligence about their business and the market in which it operates which resides in among its staff.
Let me give you an example. A newly appointed manager of a small financial services company operating in the agricultural industry could not believe the low interest rates being charged on mortgages. He went round the country telling the land agents through whom much of the company’s business was derived that rates needed to rise.
This switched the land agents off… and a key source of business.
Had that manager bided his time and properly consulted with his management team he would have been more wary. He would have realized that his company was able to offer highly competitive rates because of its low cost infrastructure and that this was a crucial point of differentiation from competitors. And he would have realized the key importance of the land agent sales channel. But he didn’t. Because he knew best.
So, think carefully about your approach. Wouldn’t a better business epitaph be…
“I did it our way”?
Tags: agricultural industry better business business leaders crooner crucial point differentiation epitaph financial services company funerals imposition infrastructure intelligence land agent land agents low interest rates management team melody mortgages senior managers