At the base of every business owners pain points and obstacles to overcome it comes down to 2 things….Capital or Culture. So many owners I speak with are passionate about what they do and can offer, but there has to be more than a product or service. When I discuss this with owners they will say something like, “Actually my issue is neither it’s staffing.” But 9 times out of 10 employees leave because either the lack of income and incentive, unclear vision or direction from leadership, or they simply don’t feel valued!
Are we paying employees what they are worth? Are we giving them benefits? Do we have a clear plan for development? Are we coaching? Do we value their creative ideas that they bring to the table to present as a solution? Staffing isn’t the issue friends, it comes back to a lack of Capital or a lack of Culture.
Some may say, “We are not in a place where we can pay employees more.” Statistics show that employees will turndown offers for increase in pay if they are bought into the culture and the vision of their current employment. I’ve heard employees turn down considerable raises and offers because they love where they work and feel valued! Other owners have said, “I have a marketing issue, we don’t market enough.” Okay so you need Capital so that you can market and advertise your business properly which will help to drive in revenue. So many times businesses are afraid of debt, but what that tells me is they don’t have a clear enough vision. What do I mean by this? Money or Capital follows purpose and vision. If I gave you a plan on how a business loan at 7% interest was going increase your sales and revenue by 30% don’t think you would be as concerned. Why? Because you can clearly see the ROI (return on investment). At the end of it all, your issues in business come down to Capital or Culture!