People Products Profits In That Order

"Take care of the people, the products, and the profits—in that order" is a foundational management philosophy. It establishes a clear hierarchy of priorities for a CEO.

1. People: If you don't have a great team, you won't be able to build a great product. "Taking care of the people" means creating a good place to work where talented individuals are motivated, challenged, and can do their best work. This is the most difficult of the three priorities, but it is the prerequisite for everything else.

2. Products: With a great team in place, you can focus on building a great product that delights customers and solves a real problem for them.

3. Profits: If you have a great team that builds a great product, profits will generally follow.

This hierarchy is not just a feel-good slogan; it's a strategic framework. Many companies fail because they reverse the order. They focus on short-term profits at the expense of their product, which in turn causes them to lose their best people.

When a company is in The Struggle, the temptation is to focus only on the immediate financial crisis (profits). However, the only way to achieve a sustainable, long-term recovery is to ensure you have the right people in place first.

Tags: #leadership #management #philosophy #culture #team-building #prioritization #strategy