By Bonnie Robertson

What exactly is this business we are in? Some would define it as a software or technology business. Some define it as a services business. While there is an element of truth in all of these descriptions, in reality ours is a people business.

As one of my favorite channel leaders says, "We are in the business of leasing the minds of people." I agree. It is one of the reasons why this business so intrigues me. It is also one of the reasons why it is a challenge to manage.

If this is truly a business of people, and people are the asset, how do we as leaders ensure that the asset we initially invest in is growing and protected?

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To all who believe that people management, communication, and development are the "soft stuff" of business, I would ask, "What do you believe are the assets of your business? What do you believe is your ‘inventory'?" If your answers to these questions are "your people," then remember that both the assets and the inventory of your business walk out at the end of each day and choose whether or not to return.

 You protect and build your assets and inventory by attracting and retaining good people and engaging their minds. Hardly soft stuff! Even the best entrepreneurs are frightened by the very fact that the primary assets and inventory of this business can't be controlled like equipment, cash, or products.

I learned from some of the best that people matter, that they create value for our customers and for our businesses. Ultimately, it is people, not plans and systems, that achieve results.

This is hard work. To effectively develop the strengths and address the weak points of others requires courage, honesty, and constant communication and relationship building.

These management practices are not for the faint of heart. But for those who focus on this business reality, the return is not only economic. It is also emotionally rewarding to know that you can do what many fail at; that as a leader, you are contributing to someone else's life journey.

What's required?

First, knowledge of how people work and the skill to effectively coach and inspire. We must have domain knowledge of how people operate, what inspires and motivates them, and what does not.

Second, communication skill (yes, this includes listening). As a teenager I would sometimes talk too much and not listen. My father would remind me that I was created with "one mouth and two ears for a reason." I realize now what a valuable leadership lesson that was.

Third, the ability to personally adapt to change. Innovation, especially in this industry, is not the result of repeatedly thinking and doing what we did before. We need to challenge the way we view the market, the way we have "always done it." We need to be the model of innovation and ask ourselves what is of real value to our customers and how we are delivering on that value.

And finally, the willingness to develop others and help them grow. This requires the courage to give direct feedback and the compassion to be honest and upfront. We must also check our ego at the door and focus more on what is in the best interest of others and less on wanting to be "liked" or popular.

Just one of these is not enough. We must consistently focus on all of them at the same time every day to truly ensure that our business assets and inventory have the focus and attention so essential to business success.

It is not easy, but it is possible. Not simplistic, but basic. Not "soft stuff," but foundational to business success.