Who Are The ‘People’ - 3 Distinctions of Who Make Up The “People” Component In Your Business

Introduction

In continuation of this series, which we internally call “We The People”, where we are focusing primarily on the “people” component of the Organizational Assessment (OA). The people are so important, that they are the ones who effectively operate the systems that you have in place for your business and are the ones directly responsible for the “bottom line” financials of your business. In this article, we will demonstrate how the ‘people’ have a direct effect on both elements of the business and establish our point that ‘people’ are the single most important component of your business. 

What Are Stakeholders? 

Before we begin, we need to clarify one definition first. The definition of “stakeholders”.

Stakeholders are any living human being that has some form of “stake” in your business - they have a touchpoint at any given time. In the next few sections, we will demonstrate who these ‘stakeholders’ typically are. 

Internal Stakeholders

When we talk about “internal” stakeholders, we are referring to people that have day-to-day interactions with our business from the “inside” of our business. These are typically the leadership that runs the business and the talent that make up the employment pool of the business - or the operators of the business. 

The leadership are the people that make sure that all the operations of the business run smoothly. The talent are the people who are experts in their particular fields and who operated the detailed components that make the business run smoothly. The marketing genius runs the marketing, the rockstar salesman runs the sales. 

External Stakeholders

When we talk about the “external” stakeholders, we are referring to people that are interacting with our business from the “outside”. These are typically our customers and vendors who also have a more common interaction with our business, hopefully, day-to-day or at least more often than not. 

The customers are the ones who pay for our services and/or products, without them, we have no business. The vendors, be they contractors or suppliers of products, anyone that provides goods and services to our company. These vendors are just as important because we depend on them for quality services and/or products, as well as preferred rates that can help us save on costs.

General Stakeholders 

Lastly, the “general” stakeholders are “everyone else” that are somewhat associated with our company - directly or indirectly. 

Typically “general” stakeholders will be the people who have some form of immediate or future vested interest in our business. These can come in the form of investors, collaborators, referral partners, or any other types of strategic partnerships.

You’d want to have a good relationship with them because you will either end up working with them or you need them to believe in what you do to help advance your business and potentially grow it to the next level. 

Conclusion 

In short, if by now, you have not yet seen the importance of each of these ‘people’, I would suggest that you re-read this article.

It isn’t enough to just say ‘people’ when it comes to business. It is extremely important to properly identify who are the people that make up your business. It’s a much wider term than one might initially think. However, when you sit down and actually think about it, you come to realize that your business is influenced and dependent on many many people. 

People have needs, dreams, ambitions, wants, and desires and all want to be treated as fairly as humanly possible. Above all else, business is human, it is run by humans, and it is for the sole intention of making human lives better. Therefore, running our business in a human fashion is imperative for its success. Identifying all the humans that are associated with your business is a very good and logical place to start. 

In our next article, we will discuss how to influence and drive these people to join you on your journey and move your business forward in a positive, beneficial, and sustainable way. 

Until then, let me leave you with this thought and call to action. Who can you identify as your “people” in your business? What are your relationships like with them? Do they need improving? What action steps can you take today to build those relationships and take them to the next level? 

Yermi Kurkus - is the co-founder of the Yermi Kurkus Consulting Group. With a family background in Entrepreneurship, a heart for community and philanthropy, and his love for psychology, Yermi dedicated his life to helping businesses thrive, earning an MA in Organizational and Industrial Psychology and is in the process of attaining his Doctorate in that same field. Today, Yermi creatively partners up with businesses to help them increase their value, productivity, and profitably by focusing on their operations and talent. The results of which helps facilitate the buying or selling of businesses as well as assisting in the overall well-being of the workplace and workforce.

To learn more about Yermi Kurkus feel free to follow him on LinkedIn, Facebook, Instagram, YouTube. Or you can book your first 30-minute FREE consultation here.