Michael Alerding and I are fortunate to have some great mentors in the business law community. Indianapolis attorneys John Taylor, Philip Burroughs and Jerry Williams, to name a few.This week Jerry Williams reminded Mike (and Mike reminded me) of an all important goal of our business – earn profit. Jerry was talking to Mike in particular about the growth of our business law firm, but of course the same lesson applies to all businesses.
Jerry quoted Navin Johnson from the 1979 Steve Martin comedy The Jerk – “It’s a profit deal!”
Here is the transcript of the scene:
Navin For one dollar I'll guess you weight, your height, or your sex. The most exciting thing on the midway. Imagine the thrill of getting your weight guessed by a professional. You can blow up your cheeks, you can stick out your chest, but you're not going to fool the guesser. How about you sir? Step right up!
Carnival Rube Hey honey, let's see how good this guy is. What'd I win?
Navin Uh, anything in this general area right in here. Anything below the stereo and on this side of the bicentennial glasses. Anything between the ashtrays and the thimble. Anything in this three inches right in here in this area. That includes the Chiclets, but not the erasers.
Carnival Rube No sir! Come on honey! He thought he had a rube.
Navin Frosty, I'm no good at this.
Frosty Aw come on Navin, you're doing fine.
Navin I've already given away eight pencils, two hoola dolls and an ashtray and I've only taken in fifteen dollars.
Frosty Navin, you have taken in fifteen dollars and given away fifty cents worth of crap, which gives us a net profit of fourteen dollars and fifty cents.
Navin Ah! It's a profit deal! Takes the pressure off! Get your weight guessed right here! Only a buck! Actual live weight guessing! Take a chance and win some crap!
All business owners know that they need to see profit, but it surprises me how few owners preach this goal throughout their organization. Owners tell employee about markets, trends, opportunities, networking, forecasts, operations, efficiencies, lean models, cultures... but they don’t focus on cash flow and profitability. Why isn't this goal pushed down through more organizations?Carnival Rube Hey honey, let's see how good this guy is. What'd I win?
Navin Uh, anything in this general area right in here. Anything below the stereo and on this side of the bicentennial glasses. Anything between the ashtrays and the thimble. Anything in this three inches right in here in this area. That includes the Chiclets, but not the erasers.
Carnival Rube No sir! Come on honey! He thought he had a rube.
Navin Frosty, I'm no good at this.
Frosty Aw come on Navin, you're doing fine.
Navin I've already given away eight pencils, two hoola dolls and an ashtray and I've only taken in fifteen dollars.
Frosty Navin, you have taken in fifteen dollars and given away fifty cents worth of crap, which gives us a net profit of fourteen dollars and fifty cents.
Navin Ah! It's a profit deal! Takes the pressure off! Get your weight guessed right here! Only a buck! Actual live weight guessing! Take a chance and win some crap!
Just like Navin Johnson, employees are often so worried about their own tactical initiative (guessing weight correctly), that they miss the overall strategic initiatives of the business. A better model is to pull employees into the mix and let them understand and take ownership in the profitability of the company.
Powered by Compendium
Comments for It's a Profit Deal!