Some might say that all you need for starting a business is persistence and luck, but actually, there must be some purpose in what you do. In this Expert Insight Interview, Russ Barnes discusses the principles for purposeful profitability in the entrepreneurial world. After 27 years in the US Air Force, Russ Barnes is now a founder of Systro firm dealing with business strategy for small businesses, an author, and an international speaker.
This Expert Insight interview discusses:
- Finding a purpose
- Setting the framework
- Planning process
For the purposeful profitability, we need to know the final destination we want to reach. Then based on our personality, resources, talents, and skills, we can make the smaller steps towards it. It is kind of like wanting to go to Hawaii. You imagine yourself at the beach drinking cocktails, but to do that, you first have to do a bunch of smaller steps such as buying a ticket, booking a room, etc. Starting a business is stressful, and for many people, their business becomes their identity. Thus, it is important not to lose the original framework that will enable your business to prosper.
Set the Framework
Getting the business organized a certain way does not mean that you will lose on the creativity, flexibility, and the ability to pivot. It only means that by knowing the final destination, it will be easier to track down the progress and to make necessary adjustments within the boundaries. Thus, in case of a crisis, everybody will know what their job is and how to do it, so there won’t be a problem of taking accountability for it later. Creativity cannot be an excuse for a lack of discipline. A challenge of leadership is to be able to give enough freedom to employees to do their jobs their way. Over time, there must exist a trustworthy relationship in which the management can check the work periodically to see the progress without any doubt that the end-results will be as effective and as productive.
Have a Plan
Crisis happens all the time in business. The benefit of having a good framework is that it enables you to anticipate. When you know in which direction your business is heading, and when you know your daily operations, the crisis can only make you approach tasks differently. For instance, Covid19 forced many organizations to transition to online work. In life, things rarely go according to plan. It is not a plan what is important, but planning. When you plan constantly, you develop abilities to adapt to different situations and to do faster, critical, and methodological thinking in a spur of the moment.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.