Three main things help to drive a business: customers, employees and financials.
Nick DiBenedetto, designer with ND Landscape Inc. and Grassmaster Plus, discussed the value in focusing a business on these three key areas in order to balance the business and become successful.
“About six years ago, we noticed things (at ND Landscape) weren’t centered,” he said.
So he said the company had to ask three questions when considering any business-related decision: Will this help give the customer a good deal? Will the employees get a good deal out of this? Will our financials get better? And if the answer to all three of these is “yes,” then DiBenedetto called this a “triple win.”
While companies may be strong in only one of these areas or perhaps two out of the three, DiBenedetto said companies need equal strength in all three for success. “You have to balance them,” he said. “If you are over-zealous with your employees, it will bring things out of whack.”
DiBenedetto noted that with managing customers, employees and financials, financials tend to be the weak point for many contractors. For ND Landscape, he said this was its weak point a few years back.
“Most companies tend to be customer-centric,” he said. “When I was young, that was my focus. Then we became employee centric.” Yet these focuses made the financial side of the business become neglected. To fix the problem, he said it was important for his company to appoint someone to serve as a controller to focus on financials and strengthen them.
“I think the biggest thing is trying to find a controller to help you wrap your head around what you have to be tracking,” DiBenedetto said. “It’s really finding a professional to get things right and also get things up to industry standards.”