Every business owner has a big dream for their business and wants to make it happen. The problem is, many business owners may not understand what levers to pull in their business to improve overall profitability. As a business owner or CEO, there are hundreds of decisions (big and small) to be made every day and it can be overwhelming to know what’s helping and what’s hurting.
Awhile back, I had a conversation with a business owner who was experiencing significant growth. He needed to hire 3 sales people to keep up with all the leads that were pouring in. His first question was, “How much is that going to cost me?” Business owners intuitively try to control costs to make money, and people are the biggest controllable expense in a business. However, that question really comes from a fixed mindset. The concern comes from a place where adding people will cut into profits, not add to it.