2 . DEFINE CLEAR GOALS AND COMMUNICATE THEM EFFECTIVELY
Make sure everyone on your team understands what the company ’ s goals are and what role they play in achieving them . This will help everyone stay focused and motivated toward achieving your business objectives .
3 . ENCOURAGE OPEN COMMUNICATION
For More Information On Creating Systems In Your Organization To Increase Profit , Check Out Clockwork , Revised And Expanded .
WANT MORE RESOURCES ? CHECK OUT MIKE ’ S FREE RESOURCE PAGE ( LEFT ) AND THE BLOG ( RIGHT ) ( IT ’ S LIKE FREE COACHING . . . SHHH !).
Make sure your team members feel comfortable being themselves and sharing their thoughts and ideas with you . Encourage an open and honest communication pathway to help foster a positive and collaborative work environment .
4 . INVEST IN TRAINING AND DEVELOPMENT
Employee development is an excellent way to invest in your business , and your employees will feel more invested in you . You don ’ t have to necessarily pay large sums to send your employees to training either . You have the best tools at your disposal — your systems . By creating systems , your employees will have access to empowering resources that help them perform their tasks better . In our office , we have a shared drive with everyone ’ s tasks and include all pertinent information such as links , training videos , and documents . This accessibility creates stronger efficiencies — and profit .
5 . LEAD BY EXAMPLE
Set a positive example for your team by demonstrating the values and work ethic that you hope to see from them . Show your commitment to your goals and your team will follow your lead . To note : once upon a time , I thought this translated into being a workaholic so everyone would work just as hard , if not twice as hard , but I found that to be a recipe for burnout , not success . Now I make time for my personal life , physical and mental health , travel , and hobbies , and I see that my employees feel more inclined to do the same . Work-life balance cannot be a fairy tale . It has to be intentionally implemented in your business to avoid burnout and increase overall well-being .
It starts with you . By implementing these strategies , you can become a better leader and empower your business to achieve greater profitability . Remember that being a good leader is an ongoing process , and it requires your continuous effort and commitment .
You ’ ve Got This !
Mike Michalowicz
Mike mi-KAL-o-wits is the author of Profit First , Clockwork , Surge , The Pumpkin Plan , and his newest release Fix This Next . By his 35th birthday , Mike had founded and sold two companies – one to private equity and another to a Fortune 500 . Today he is running his third multi-million dollar venture , Profit First Professionals .
Mike is a former small business columnist for The Wall Street Journal and the former business makeover specialist on MSNBC . Over the years , Mike has traveled the globe speaking with thousands of entrepreneurs .
- Mike
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