We’ve all likely heard the principle that its better to give than to receive. We appreciate the sentiment but have you noticed how most people will only do this if they believe their own needs are met? Yes but, what does this have to do with this month’s newsletter concerning business financial intelligence I hear you ask?
I’ve come to observe that most employees within today’s business world want to focus on what they receive rather than what they give. If you asked me for my top tip to help ensure career progression and to minimize the possibility of a lay-off in today’s ever-changing workplace, I’d tell you to focus on what you can give rather than what you receive. Focus on what you can personally do to improve cashflow, increase sales, reduce expenses, enhance productivity, impact growth and better serve your internal and external customers. All organizations like to keep such people around — this type of talent will always soar. Such people are really working as if they were ‘intrapreneurs’ (employees with an entrepreneurial mindset) and they’re worth their weight in gold.
Employees that have business financial intelligence can become leaders within their teams, they can easily traverse across departments and even industries because they know that the language of business is universal. They know that all organizations are essentially the same inside. They have taken the time to understand the income statement, the balance sheet and the statement of cashflow. If the business is publicly traded they understand the earning call and key stock market performance indicators such as EPS and the P/E Ratio. They know the benefits of a high stock price. Perhaps more importantly they understand (and educate their team members) how their work contributes to the money-making model of the business.
In short, such employees focus on giving (their best efforts) to receive.
And remember, ALL organizations ARE businesses regardless of what the entity type is. Over half of our client base is non-corporate entities (such as educational, government or non-profit entities) but they know; their income needs to be greater than their expenses; their assets greater than their liabilities and they’re utilizing human resources to achieve business objectives. That’s called “business”.
One of the best investments you can make in yourself or your employees is to help develop business financial intelligence because everybody wins.
Newleaf Training and Development specialize in teaching Business Financial Intelligence to management within a variety of organizations.