I believe that owning a business comes with significant responsibility — not just the responsibility of managing the tasks and details required to run the business, and not just the responsibility to your customers who rely on your services.
Your primary responsibility lies with the people who work for you. At a basic level, this means providing a safe, non-toxic work environment where employees feel comfortable working every day. It also involves giving them a well-defined role, so they understand what success looks like. Beyond these basics, there are two other critical areas of responsibility.
The first is creating opportunity and growth. The only way to achieve this is by growing your business — specifically, adding new customers at the right price. Consistent growth is essential for long-term success, as it enables you to provide new opportunities for your team. Without growth, you cannot offer your employees the chance to advance.
The second is helping loyal, long-term team members achieve financial stability. This requires running a highly profitable business and educating your team. For example, at TruMethods, we offered a 401(k) program with two different profit-sharing plans for our employees. Each year, we invited our 401(k) provider to educate the team on planning for their financial futures. We could do this because we maintained a very profitable business.
Whenever I speak to a group of MSPs, I ask if they have long-term team members they care about deeply and want to help achieve their financial goals. Recently, I asked this question, and nearly every hand in the room went up. However, here’s the reality: if you don’t run a business with a true net profit — after the owner’s salary — of at least 20%, and if you don’t achieve financial independence yourself, you cannot help your people. Think of the advice given on airplanes: secure your own mask first before assisting others.
You cannot give to others what you do not have, no matter how good your intentions. This is why I tell our TruMethods Peer members that building a profitable business isn’t just about you and your personal goals. Every team member, no matter their position in your organization, depends on your success.
This perspective is why I don’t like to see any quarterly “Goose Eggs” from our members. A “Goose Egg” is going an entire quarter without adding a new ogo sale. Consider what a “Goose Egg” could mean for others in your business. Developing this mindset has helped me become a better businessperson throughout my career. It has also led me to connect my company’s growth and profitability directly to my role as a leader and to my self-image.
Shifting to this way of thinking takes effort, but it’s worth it. I’ve learned that most people are more motivated to achieve goals that impact others. While we may let ourselves down occasionally, we work hard not to let others down.
As you plan your life and business goals for 2025 and beyond, I encourage you to adopt this perspective. It could transform not only your business but also your role as a leader.