The cost of confusion hits our bottom line(s) in so many ways; increased downtime clarifying details, quality errors (regardless of our industry or process), delayed deliveries, and even lost customers. All of those things kill profitability! When we think about the statement I shared previously...
Missing expectations can be a significant profitability killer! Don’t take my word for it though, ask anyone who’s ever worked for a publicly traded organization… On May 25, 2023, an interview on Yahoo Finance detailed a 14% drop in the value of Dollar Tree stock after the...
Make no mistake, confusion contributes to several of the profitability killers we’ve looked at already; so much so that I believe it’s critical we take a focused look at it individually as well! Whether it’s through the lack of clear expectations that we touched when we worked...
With just a basic understanding of why people do what they do, Matt was about to intentionally break the golden rule with his team and avoid so many of the costs of poor communication! By following a simple pattern, he was able to begin adding fuel to a different fire… Instead of the fire...
A week or two after Matt and I had the hour-long conversation about how he could “get people to do what he told them to do,” he called again to ask what kind of voodoo magic I had taught him… Breaking the golden rule in how he was communicating with each of the individuals on...
Once we’ve come to terms with just how high the cost of poor communication can be, and how any poor communication skills existing in our organizations add fuel to other fires that are killing our profitability, we have plenty of reason to address the lack of communication between our...
Consider the 17 hours of downtime due to clarifying communications that SIS International Research study cited as an average weekly loss for companies with 100 employees. After spending close to two decades in a manufacturing environment, I see a lot through that lens. To me, that downtime...
Communication, good or bad, doesn’t just impact relationships - and the buy-in and employee engagement that tie directly to those relationships - it also fuels the fire when it comes to whether or not our team members are clear on what action they should be taking… When there’s...
It seems that the cost of poor communication is impacting enough organizations that it’s become quite a hot topic… I found a separate article on Inc.com called Costs of Poor Communication Reach $37 Billion. Avoid Disconnects By Implementing These Two Things at referenced the same...
Learning that it took ten full years to make a change within Chick-fil-A that, al least from the outside looking in, seemed like something fairly simple, I’m guessing you’re on the same page with me as to why we cannot expect to say anything just once and get our entire team on the...
One communication issue I’ve seen kill profitability as much as any other ties directly back to the illusion George Bernard Shaw referenced; we can’t assume we’ve gotten our message across just because we shared it once!
Have you ever heard someone say, “I’m only...
If we’re serious enough about capturing our best return to invest the energy into building a leadership culture that starts from the top and cascades throughout our organization, we’ll have a solid start toward achieving quantifiable results in addressing our profitability killers!...
