The Relative Theory of Success in Business
Einstein had his Theory of Relativity: E = MC2.
The formula was published in 1915, but the basis for the formula began in 1905. So, it took Einstein about 10 years or so to perfect, distill, and refine “the world’s most famous equation,” says Wikipedia. This would result in Einstein earning a Nobel Prize in physics in 1921. He was about 36 years old when the formula was published.
The Relative Theory of Success in Business = S x T x E
Whereas Einstein published the Theory of Relativity, on this date, Blue Elevator™ is humbly posting the Relative Theory of Success in Business: S x T x E.
Whereas I wholeheartedly believe that S x T x E is true, I can’t take credit for it. I thank God for revealing it after a half century of life on planet Earth.
And so, let’s break it down.
What is S x T x E ?
The potential for success in business is defined as follows:
- S = Skill
- T = Trust
- E = Engagement
So, Skill x Trust x Engagement = the Relative Theory of Success in Business.
Breaking Down S x T x E
Skill
Consumers, customers, prospects, etc. are looking for people who are skilled. It’s obvious, right? Do you need a dentist? You want a skilled dentist. Do you need a painter? You want a skilled painter. Do you need a plumber? You want a skilled plumber.
Trust
Consumers, customers, prospects, etc. are looking for people who are trustworthy. It’s obvious, right? Do you need a bank to deposit some hard-earned dollars? You want a trustworthy bank/banker. Do you need a kindergarten to begin schooling your little guy? You want a trustworthy school/teacher. Do you need a good mechanic to address the little warning light on your car? You want a trustworthy mechanic (e.g., because it might just be that your gas cap is loose – and you don’t need a new engine, after all).
Make sense? Skill and Trust also go hand in hand. Both must be present to win. Case in point. If your loved one needs surgery, are you looking for skill or trust? You want both. Skill and Trust.
Engagement – in Principle
Last, but certainly not least, is the important concept of engagement. We wrote exclusively about it in this article: The Three Secrets to Business Success.
You see, (S)kill and (T)rust don’t matter if you don’t have (E)ngagement.
(E)ngagement isn’t complicated. It’s a simple concept, really. But it isn’t easy to do. And, as the equation suggests, (E)ngagement is extremely important.
This is a great time to introduce a concept I learned from my high school chemistry teacher (i.e., thank you, Mrs. Connie Grosse). The concept surrounds what is termed a limiting reagent. And, I will summarize it here. A limiting reagent is something that, if reduced, used up, or is non-existent, prevents the synthesis of the desired outcome.
A simple analogy is this. Let’s say you want to make a complete batch of chocolate chip cookies (e.g., five dozen). A complete batch requires two large eggs – among other ingredients. If you only have one egg, then eggs are your limiting reagent. It doesn’t matter that you have plenty of flour, baking soda, salt, butter, sugar, brown sugar, vanilla, and chocolate chips. Your one egg limits you to only two-and-a-half dozen cookies. 🙁
In our business example, (E)ngagement is often a limiting reagent. If (E)ngagement as a behavior, principle, or ingredient is missing or limited, it will preclude you and your organization from achieving its best.
To wit, if E = zero, then S x T x E = ZERO.
Engagement – in Practice
As mentioned, engagement is simple – but not necessarily easy. It includes – but is not limited to – the following items: answering your phone, texting someone back, replying to an e-mail, acknowledging and processing customer orders, immediately shipping product when it’s been paid for, completing a project when you said you would, regularly posting and engaging on social media (e.g., replying to or “liking” a comment someone made on your social media account), etc.
There is a saying that a fish will grow to the size of its aquarium. In like form, Blue Elevator™ believes this:
As a fish grows to the size of its aquarium, a business will grow in proportion to its ability to engage.
What Say, You?
We can all probably recall people, vendors, and businesses we’ve called looking for help. We all ask and look for those that are skilled and trustworthy. But, it’s the ones that respond to us (e.g., engage) that we give our business to.
Conclusion
The Blue Elevator™ Group clients work with and through a lot of technical business concepts. All of our advisory is custom, collaborative, and actionable, but it’s also based on God-given business principles.
Specific actionable advisory needs to be implemented, but none of this matters unless a business understands the importance of S x T x E. (E)ngagement cannot be the limiting reagent – but it often is.
If you are a Blue Elevator™ Group client, we’ll borrow another chemistry concept. God willing, we hope you make a mole of money with S x T x E. Which, if my memory serves me correctly, is 6.02 x 1023 or $602,000,000,000,000,000,000,000.00 Is that right, Mrs. Connie Grosse?
Contact us! We’d love to hear form you.
DEC
About the Author:
Ken Moll is the Principal and Founder of Blue Elevator®. With professional experience spanning four decades, Ken has a breadth of foundational business knowledge rarely found – making him part of an elite class of professionals. Ken's passion is helping clients of Blue Elevator® get their “business to the next level™.”