Too Many Too Loose With the Language of Business

Some of You Have Enough Prior Knowledge

To see the “issues” with some fundamental changes some are making with “basic” financial terminology. Which won’t hurt anything – or anybody – unless you take it out of your home room of ISD-folks w/o a clue about financial terms and meaning and into the world where others do know a term or two.

We do ourselves a BIG disservice when we create new meaning for established terms. We lead others down a bad path, a rocky road, a bridge to nowhere quickly.

Like my grandson, who when first playing baseball at the age of 6 knew that every time he crossed home plate it was a home run. You could not convince him otherwise (so being a good grandparent I let that slide). Every game he played he had several home runs! The next season he had figured it out – and so he knew that he had more bases on balls than hits and only a rare home run (in the park at that).

When we sell, market or explain our services and our “value add” – it doesn’t help our cause or help the listener when they get a feeling of “cognitive dissonance” when our language isn’t congruent with what they know. Talking about financial terms incorrectly – with the right people – who know better – puts us in the wrong quadrant in their assessments. Talking with people who don’t know any better will lead to their embarrassment someday – and perhaps they will remember who they mis-learned it from in the first place.

Finance isn’t the only set of metrics of an Enterprise. But it is – as they say – the bottom line. You cannot go on doing good things if your initiatives keep returning less than their costs – as you’ll simply go bankrupt. Champions of this or that need to be business champions first and last – and champion their specialties in between. Not champions of what they do all-of-the-time.

How Do You Sell Quality?

10 minute video.

Use & Abuse of ROI

10 minute video.

Learn the Language of Business

Learn “how score is kept” financially and otherwise. Learn the terminology. And learn how your Enterprise and/or industry has adapted any of that. Be careful about making your own clever adaptations without enough prior knowledge about exactly what you are changing/messing with.

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