I was watching the movie ‘The Matrix Reloaded’ and I always smile when I hear this quote: “Comprehension is not a requisite for cooperation.” Apparently, a directive was given that the person did not fully understand, however his subordinate was not interested in his comprehension but rather his act of carrying out the order. It was the classic, just do as I say.
Well, the one directive I would give to all reading this is by Albert Einstein: “Strive not to be a success but rather to be of value.”
We continue talking about the struggles women face in arming themselves with the right tools to succeed in business and as a leader.
There’s a continuous theme that we must somehow hide our femininity, not be too forward and tuck our emotions safely away. I don’t disagree that our emotions are not to be constantly displayed, however to deny ourselves our femininity would be a disgrace to our very existence – we ARE feminine beings.
But this isn’t about femininity today. Let’s stick to the power tool box we must have to remain competitive. In recent articles, I’ve been offering anecdotes that suggest understanding financials and/or statistical data as being staples for winning the game of business; that reliance on someone else to know this information is a detriment to your success and leverage for future opportunities.
Understanding some key business metrics is invaluable. First, generally speaking, a business metric is a quantifiable measure used to track and assess the status of a specific business process. Without a metric, it’s difficult to tell how you measure up to your goals; goals that include financial projections.
I’ve been highlighting financials, so it’s imperative to dedicate yourself to the metrics used to measure your company’s financial performance.
The eye opener is that some metrics are not discussed or mentioned depending on your role as a leader; however that does not excuse you not knowing them.
For example, if you’re leading the Learning and Development Department, you might not understand what the lifetime value of a customer is, or customer acquisition costs, nor may you find it useful to know the hours worked per transaction/process. However, training has an impact on these areas and paints a vivid picture of your department’s performance.
If you’re leading the Human Resources Department of a call center, for example, you may not pay attention to cost per call, however this metric demonstrates how well the talent hired is producing, relative to costs so you should know this.
Understanding these metrics, or lack thereof, could be the reason for not being promoted, having your ideas left on the table or not receiving a raise. Remember this: cost matters in the absence of value. Budgets are tight and raises are on freeze if your position/department does not offer value – i.e. increase profitability or decrease cost.
Albert Einstein said it best, “Strive not to be a success but rather to be of value.” Your value is in your ability to understand the financial landscape of the company you work for or the company you run. YOU become the most valuable asset when you are armed with these in your tool kit!
Lisa Thomas is the CEO of The P3 Group, Inc. and The P3 Group International, LLC, publisher of The P3 Power Boost Online Magazine, host of The P3 Power Boost Radio Show, and President of the Board of Directors of NetWorth. She is a 20-year veteran in business, executive leadership and performance coaching/consulting. She has worked extensive with corporate call centers, executives and small business enterprises. She’s been a featured columnist and business strategist on Affiliate NPR, WFDD, The Cary News, Fox 8 and numerous NBC affiliate stations.
Lisa is best known for her business and leadership acumen and is widely recognized her ability to develop leaders to be more effective. Lisa is also a sought after keynote speaker on various topics women in leadership face. She generously donates her time and expertise to a number of organizations and worthy causes, including NetWorth, the Business Succession Forum Network, and the Hazel B. Neal Foundation, for which she recently was recognized with the woman of Power, Purpose and Vision award. In her downtime, she can be found practicing yoga, cycling, swimming, reading a good book or spending time with family and friends.
CEO/Sr. Business Strategist
The P3 Group, Inc.