Saturday, April 19, 2008

Turning failure into success

The person interested in success has to learn to view failure as a healthy, inevitable part of the process of getting to the top.
Dr. Joyce Brothers

The same principle applies to business.

Far too many companies are so risk adverse that their employees are unwilling to try something new. The companies have created a climate where a single mistake is a career killer. I believe it’s caused by a mix of short term thinking at the top and viewing employees as a cost not a revenue creator.

This short term thinking causes managers to cut costs even at the expense of things that would (if given time) create more income in one, two or even three years. If the pressure for results “this quarter” is too strong you can’t invest in tomorrow.

Over the last 10 to 15 years management has changed it’s view of workers from revenue producers to a cost. Think about the computer sitting in an empty cubicle and ask your self how much work it’s doing? The humans add the value to the equipment, and it’s that value that allows it to make you money!

Combining the two, how much did you invest in your physical plant last year to make it more productive? How much did you invest in your people? Before you say “But my punch press doesn’t go down the street for a nickel and hour raise!”, think about this; if they are worth an extra 20 bucks a week to your competitor, why aren’t they worth that same $20 to you?

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