It’s about people. It’s about money. And it’s about the product or service you sell. Like the legs of a three-legged stool, all of those need to be in balance in order to support the weight of the company that rests on it.
But they aren’t rigid like wooden legs, they are more like playdoh. Imagine a ball of playdoh in your hand. To keep it pliable and round, you have to keep it moving, and you knead it a little bit all over. Each part needs consistent attention. If you squeeze one part too tight, the rest will slip through your fingers. If you let it alone, it will dry out and crumble.
People
The people are the ones you provide the goods or services to and the people who provide those goods and services. Serve your employees well. Serve your consumers well.
Money
When you’re making money, it indicates you’re providing value. Some of the most powerful feedback from customers comes from their wallet.
Profitability isn’t just an end goal, it’s also a health metric. You don’t have to be profitable immediately to succeed, but you do need to have positive cash flow.
When money comes in it indicates that you’re providing value, but if profitability is nowhere in sight, it means you’re out of balance. You need to adjust that leg, or the stool will rock, put stress on the other legs, and eventually topple.
Product
This is the engine of the business. The thing that captures the imagination and meets a need in the marketplace. It’s at the heart of what the people in the company do every day. It’s what generates the money that fuels the engine. And it generates the motivation that drives the people.
Knead the Dough for a Balanced Foundation
When you consistently care for all 3 things, the people, the money, and the product, you provide the foundation for a balanced stool that supports the weight of the company.