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.

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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.

Author: Greg Nielsen

Since starting his healthcare career in 1997, Greg Nielsen has served as the CEO of hospitals in Ohio, Nebraska, Wyoming and Montana in both the non-profit and for-profit sectors. Greg is known for bringing energy and new life into organizations by inspiring others around a vision and executing strategies to achieve that vision. Greg has a passion for helping individuals and organizations achieve their true potential. He believes this is best accomplished by carefully and intentionally feeding your mind, body and spirit on a daily basis. Greg earned a bachelor’s degree from Concordia College in Moorhead, MN and a master’s in healthcare administration degree from the University of Minnesota. Greg is married and has three children. Greg enjoys staying physically active and hunting pheasants with his lab, Ashe, when he’s not working or spending time with his family. When Greg was in transition and working with Wiederhold & Associates, he executed his transition at the highest level and started the journey with the right amount of passion, attitude and confidence. Greg has graciously offered to speak with all our transition clients as they enter this extremely important journey and share his successful experience as encouragement.