You Can’t Grow by Cutting!
This phrase sums up my philosophy of business. You cannot Grow by cutting people, investment or other expenses. The cutting concept is only valid for improving profitability, but does nothing for the growth engine. Growth is the driving force for high energy and dynamic cultural difference.
If you need proof – McGraw-Hill did some research about companies that continued to invest in people and other investments during a recession. The results show that “companies that invested in themselves and their people during the 1981-1982 recession had 29% MORE BUSINESS the next year.”
So what does this mean to you? It means this is a time to invest in development of people to improve their knowledge and experience; to improve your processes to be more effective and to invest in better technology to lower costs using more efficiency and effective systems.
If you need another reason for investing in people,processes and systems now – here you go. The most important reason is to show confidence in the economy and the future. When people see the investments, they will belief that it is only a matter of time and things will be cooking again. Optimism is an key emotion needed to get our economy started and your people control the use of this emotion. Show your faith in your people and watch them show it to your customers. Then things will pick up in a positive way.
Voss Graham
Latest posts by Voss Graham (see all)
- How to Create the Future of Your Business - March 7, 2019
- Voss & Robin Graham Discuss InnerActive Consulting Group - March 4, 2019
- Voss Graham interviews Ron Bonnstetter - February 13, 2019
- Hyper Growth is Great for Your Business Success - February 12, 2019
- As a Leader, Sharing Clarity or Confusion? - February 10, 2019
Tags: Growth Opportunities, Optimism, People investments
