By Steve Moran
Conventional wisdom says high returns and high margins equal excellence. This is backward, short-term thinking. Need proof? Ask the shareholders of Blockbuster, Kodak, and Palm Pilot. Even today, companies like Intel and Boeing are struggling because of their focus on margins.
The problem is that when you focus on margins, your thinking is always short-term.
I have seen this so many times in senior living. A company opens a new property in a high-demand market, and it fills in a matter of weeks. It is easy to assume the company, the executive director, and the sales leader are brilliant.
Nope, they got very lucky.
I got to thinking about this after reading a piece from Admired Leadership that stopped me cold. The core idea is deceptively simple:
Excellence is not an outcome. It’s a standard for how you do the work.
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