Podcast: Following the bottom line right to the bottom

E05: They Fired My Best Friend

Description: In this episode Dr. Coughlin explores what it really takes to be a leader, and shares a story about what can happen when there is a lack of effective leadership.

In this episode Dr. Coughlin discusses how focussing on the bottom line can shatter lives and the business itself.

Hello and welcome to Ascent Dental Radio. A program dedicated to the balance between the clinical aspect of health care and the business of health care. And now here is your host, Dr. Kevin Coughlin.

kevin-transparentWhen does bottom line sometimes make your business reach the bottom? My name is Dr. Kevin Coughlin and welcome to the next podcast. One of my recent podcasts dealt with a series of factors that in my opinion create great leaderships and great leaders.

In truth, leadership is simply influence. The ability to influence people in your organization to go in a specific direction. The significant factors are motivation, tolerance, trust, purpose, vision, attitude, awareness, determination, commitment, tenacity, belief, faith, inspiration, self-control, willpower and patience.

I’d like to share with you a story of a recent transaction where there was a change in leadership and the corporate leadership felt that the bottom line was critical. Actions were being duplicated, people were being duplicated. And best friends who were excellent employees were terminated, lives were terminated, parents were terminated. In the end, reaching the bottom line also caused the business to reach the bottom.

Sometimes leaders, and in my opinion, the term leader is sometimes misused. Many times individuals are place in leadership position but lack the skills, knowledge, ability and personalities to truly be leaders.

In many cases, these individuals are rather small people who have little confidence and are many times blinded by power and greed. Ultimately, things have a tendency to self-correct, and those people that are put in leadership either by lack, financial reasons, or serendipitously by simple mistakes, those businesses will ultimately be destroyed.

The true success of any business is not the dollar bottom line, but the ability to create a service and a product that people clamour for and they want, and knowing that that organization is doing the right things at the right time for the right reasons.

Failure to follow those basic tenants will ultimately lead to self-destruction and ultimately to the ruin of a good business.

Sometimes I think that people are clouded many times by greed and lack of support or confidence. In this particular situation, I watched a family be ruined. I watched individuals who have developed over time a magnificent business with trust, belief and likeability, I saw individuals hurt and I see the business being destroyed piece by piece.

For those of you that think you’re leaders or those of you who hope to be leaders, or those of you who have been put in leadership positions, consider what your ultimate goal is. Your goal should be to build a great business, not for the short term, but for the long term. Your goals should be to bring the people around you up, not down.

The ability to be constant in your commitment to communication, fairness and honesty. Following these basic tenants will not only make you feel better, but will ultimately create an excellent product and excellent long term success.

If you’d like to listen to additional information, you can hear it and see it on my website www.ascent-dental-solutions.com or you can email me at info@ascent-dental-solutions.com. Thanks for listening and I look forward to sharing with you additional podcasts in the near future. My name is Dr. Kevin Coughlin. Thank you for listening.