I'm a fan of Servant Leadership.  If you are not aware of the concept, check out this video of Colleen Barrett, CEO of Southwest Airlines or The Greenleaf Center for Servant Leadership to learn more.  The basic premise is that when company leadership serves their employees as their number 1 priority, the employees will be more engaged and motivated and better able to serve their customers and markets.  I love the concept because it assumes we are part of something greater than ourselves, that the whole is greater than the sum of its part when this care taking is the fabric of an organization.  This also feeds my (and others') spirtual and emotional self, in that by giving we become better beings. And there is an added bonus.  Companies that embrace a long term strategy of servant leadership are more profitable than their peers.  In turn "profits are the applause for the employees doing well."  It's a win-win for all.   

My analytical side loves to analyze the tangible implications of Servant Leadership. And that's where the term Triple Bottom Line (People Profits & Planet - or Triple P) comes in.  Triple Bottom Line management can be used to find the balance between People, Profits and Planet to create sustainable businesses that serve.  All companies have components of each element but without the right balance, one or more of the other factors may become skewed. 

Consider the 3 components as sides of a triangle, where sustainability is a board that balances at the tip of the triangle foundation  - too much emphasis on one or two will cause an imbalance - eventually resulting in a breakdown of the foundation.  Too much emphasis on profit, and employees and/or planet will suffer.  Too much emphasis on employees, and profits and/or planet will suffer.  You get the point.  Triple P allows for a measureable way to manage and grow a company based on the company and owner's unique value system with our real world business, social and environmental ecosystem.  

Want to learn more about People Profit & Planet, Triple Bottom Line?  I encourage you to join a group on linked in, or check out CNBC's series on the subject

 
When I was a student in college learning music theory & composition, one of the techniques our professors used was to teach us all the rules of composition & music theory before we could break them.  We would then better understand the full palette of musical techniques to combine.   One of the courses that was especially interesting to me was "Counterpoint & Fugue."  During this course we would be given part of a music line, around which we would build a short 4 -piece harmony.  We were specifically told to not play the tune we were writing, and would instead listen to it for the first time when we submitted it to our professor.  Following the basic rules gave great results,  and ignoring all the rules was a fast track to failure.  By following this technique we had another building block under our belts which formed the foundation for developing our own unique styles.

This technique applies to business - know the rules of business, the lessons learned through the efforts of others is tremendously beneficial.  But learning from the mistakes of others is also valuable - sometimes failures prove to be even greater lessons.  So for this post, I'd like to share two references around the topic of failure in business - How the Mighty Fall, by Jim Collins (author of the more famously referred to Good to Great), and The Seven Habits of Spectacularly Unsuccessful Executives (by Forbes.com contributor Eric Jackson)

Both articles provide wonderful examples of how not to run your company, and just like my old professor, Leonard Klein taught me - learn from the good & the bad, and along the way, you'll develop your own unique and winning style!

New Jersey Business owners - want to learn more about creating great companies?  Join us, along with other business owners January 16th at our annual Business Summit "Turbo Charge Your 2012."