What your boss, Mr. Krabs from SpongeBob Squarepants, and Rod Tidwell from Jerry Maguire have in common and why you should care.
“Where’s me money?!” as Mr. Krabs would say. That is exactly what your boss is thinking but won’t ask given today’s decorum. As we learned in graduate school at the University of Minnesota, “it’s not about the money… it’s about the money”. Yet no one wants to talk about money- it’s uncomfortable. Try and ask people about their bank account, salary, or taxes and you will get some awkward reactions. Likewise your boss and the company you work for don’t want to look bad by overemphasizing finances. Don’t let this fool you as your company lives or dies by its profitable growth. That means your boss is counting on you to drive profits and make more money.
A system CEO once told me, “You know it’s very hard to get fired when you’re making budget.” I got it – message delivered. How can you deliver? First, cover your own costs. You better produce enough revenue to cover your salary or else you are vulnerable. Next, if you manage a budget you want to grow revenue at a rate faster than expense growth (positive spread ratio).
Finally, make sure you communicate to your boss the actions you will take to drive profitability. This builds trust as your actions turn into results. Remember- the bottom line is the bottom line. Pay attention to it and it will pay dividends for your career.
