Does Your Business Have A Death Sentence?

“Manage the top line and the bottom line will take care of itself”, said Steve Jobs, the CEO of Apple, when asked about the drop in Apple’s stock price. Jobs went on to say that when he follows this advice, taking care of his employees, customers and developing a strategy for growth, the company’s bottom line responds favorably. 

Every CEO or senior business manager should adopt this position as part of their DNA for building an organization. There is no question that when business leaders take care of business internally they reap the benefits externally in their stock prices or profit margins.

So how do business leaders manage the top line? It starts with a shift in thinking.

Misguided business leaders think they can’t afford to invest in people; but the truth is they can’t afford not to invest in people. Leaders must invest in hiring skilled employees, and continually train them so they perform at peak levels. They must also invest in organizational infrastructure to provide the direction and controls necessary for stability in the workplace. 

When skilled employees are valued and feel secure they are better equipped to care for the customers. And, in business, there is nothing more important than taking care of the customer. Exceptional customer service protects a company’s reputation, builds goodwill and generates repeat business.

It’s also impossible to effectively manage the top line without a strategy for growth. Unfortunately, too many business leaders avoid developing a long term strategy because they are uncomfortable with the process. They prefer to micromanage the bottom line and make excuses for their shrinking profit margins. 

Admittedly, top line management can be a death sentence. It can mean death to mediocre performance, marginal sales and, in some cases, the competition. 

Does your business have a death sentence?

 What do you think, we want to hear from you?