Are you driven by monetary targets?

The other day, a financial adviser shared with me that there will be a market correction coming soon and I should put my planned investments on hold. I was contemplating on this... What happens if many people believe in this correction and act accordingly? The spiral will go down. And, what will this mean for the companies I planned to invest in? They might lose funds and their growth will slow. Is this what I am believing in?

As a leader, I think we have a choice. We can follow the advice, maybe get richer ourselves and then what? Or, we can stick to our long-term investment strategy, support the organisations we are passionate about and reach our long-term growth targets; not just financially.

So, what does that mean for leaders? What can we achieve with financial targets? How is this creating engagement with your teams? Can these monetary targets be meaningful? Aren't these objectives leading to more selfishness?

As an alternative, we leaders can follow our passion and activate excitement among our team members. This will stimulate motivation and will lead to value creation for our customers. We can develop a greater and collective feeling of purpose. This collective dream will strengthen the collaboration in our team and across the wider ecosystem.

When you sit down with your team and define your goals, try to go beyond these dollar figures. Think about the results you want to achieve for your customers and with your business partners. In addition, specify the work environment you as a team want to cultivate. These are objectives that will bring meaning, excitement and passion to your team.

How are you leading beyond financial targets?