The unfortunate truth about the bottom line is that many business owners are running businesses without a clear and unobstructed eye on the bottom line. They are pulled in so many different directions, faced with so many challenges, that the terms treadmill, rat race, unremitting change, ongoing transition and fast-paced changes in market demands barely describe how owners and executives feel. The day-to- day, week-to-week, and month-to-month issues may keep them running and out of breath mentally and, sometimes, due to stress, physically.
The bottom line in any business or organization is what keeps the doors open to provide service or operate the business, keeps employees paid, maintains quality of service, ensures product is available, and keeps the owner solvent in his or her attempts to run the business. Often the focus is on personally surviving rather than clearly focused on the business; and, sometimes, the focus is on the business at the peril of personally surviving.
How to achieve balance in your life as an owner, executive or manager while ensuring that the business is solvent is one of the greatest challenges anyone at the top faces.
There is a figure being bounced around at the moment of a 70% failure rate when it comes to successful management today. Where does your business stand in this analysis?