99% of my time goes to this one skill

Summary

In this insightful transcript, the speaker shares key principles of effective leadership and team building. They emphasize the importance of giving discretionary effort, believing in people's ability to learn, and investing in team members as if they will never leave, while hoping they will. The speaker also highlights the significance of being a well-rounded leader who inspires in all facets of life, not just business. They stress that actions speak louder than words, and how a leader's behavior sets the standard for the entire team, ultimately attracting and retaining top talent.

Takeaways

• 🤝 The importance of building a strong team dynamic where members genuinely like and support each other was highlighted as a key takeaway from a dinner with entrepreneurs.
• 🚀 The speaker emphasizes that leadership is not just about mastering business functions but understanding human psychology and being a person others want to follow.
• 💡 The concept of 'discretionary effort' is introduced as a leadership principle, suggesting that leaders should put in extra effort without expecting it first, fostering a reciprocal culture.
• 🎁 Personalizing the care for team members, such as remembering birthdays and personal milestones, can significantly contribute to team cohesion and loyalty.
• 🌟 The belief that people are not inherently stupid but often poorly taught is crucial for leaders who want to develop their teams' potential and improve performance.
• 👨‍🏫 Effective teaching and feedback are identified as essential skills for leaders to instill in their teams, focusing on clarity, encouragement, and alignment with personal goals.
• 💼 Investing in people as if they will never leave, while also being supportive if they do, is a paradoxical yet effective leadership approach that builds trust and respect.
• 🔄 The idea that great leaders inspire in all facets of life, not just business, is presented as a way to earn the respect and loyalty of team members.
• 👔 Demonstrating the desired behavior and standards as a leader sets the precedent for team members, who will follow suit based on what they observe from the leader.
• 🌱 The speaker's personal journey of self-improvement in areas such as fitness, mindset, and emotional management has a direct impact on their leadership abilities and team culture.
• 🛑 The cost of investing in and trusting the wrong people is acknowledged as an inevitable part of building a great team, and leaders must be willing to bear this cost for the greater good.

Q & A

What was the main topic of discussion during the dinner with entrepreneurs?

The main topic was about leadership and team dynamics, specifically how to create an environment where team members genuinely like being around each other and reflect the leader's values.

Why did one entrepreneur express jealousy towards the speaker?

The entrepreneur was jealous because the speaker's team seemed to work well together, joke together, and genuinely like each other, which he wanted to achieve within his own team.

What is the speaker's usual focus when discussing business operations?

The speaker usually focuses on tactical aspects such as operations, marketing, sales, customer success, people operations, and hiring, rather than the principles of leadership.

What does the speaker believe is the key to becoming a better leader?

The speaker believes that understanding human psychology, being a better person, and being someone people want to follow are key to becoming a better leader.

What is the first belief the speaker shared about leadership?

The first belief is that if the leader gives discretionary effort, they will get it in return, and it's important to give this effort before expecting it from others.

How did the speaker apply the principles of discretionary effort in their personal training business?

The speaker kept track of clients' personal details like birthdays and anniversaries, showing interest in their lives beyond just being clients, which helped in building strong relationships and retaining clients.

What is the concept of 'Act until you care' as mentioned by the speaker?

'Act until you care' is the idea of demonstrating care and interest in team members even if you don't initially feel it, with the belief that these actions will eventually lead to genuine feelings of care.

What was the impact of changing the sales team manager in the speaker's company?

After changing the sales team manager, the company saw a doubling of sales production within a week because the new manager cared about the team members as people and created a supportive environment.

What is the speaker's view on people being 'stupid' in a business context?

The speaker believes that most people are not stupid but rather that many leaders are bad teachers. They think that most people can learn most things if they are taught and trained properly.

How does the speaker approach giving feedback to their team?

The speaker focuses on giving feedback that is not punishing but encouraging, identifying what good looks like, where someone is at, and the discrepancy, and communicating this in a way that helps the person grow.

What is the speaker's advice for leaders who feel their team is not performing well?

The speaker advises such leaders to reflect on their own teaching abilities and to consider whether they are effectively training and reinforcing desired behaviors in their team members.

What belief does the speaker hold about investing in team members?

The speaker believes in investing in people as if they will never leave, while also being happy and supportive if they decide to leave, as this investment helps build a strong team culture.

Can you give an example of how the speaker's investment in a team member led to a positive outcome even after they left the company?

The speaker shared an example where they encouraged a sales team member to leave and start his own business after investing in him for years. Even after leaving, they maintained a mentor-mentee relationship, which the speaker considers a win.

What is the final leadership belief shared by the speaker in the script?

The final belief is that if a leader wants team members to be their best, the leader must also be at their best in all aspects of life, inspiring others through their character and actions.

How did the speaker realize the importance of their own behavior in setting standards for the team?

The speaker realized this when they noticed their team members showing up to work in a casual manner similar to how the speaker was presenting themselves. By improving their own appearance and behavior, the team followed suit.

What impact did the speaker's personal health and fitness habits have on the team?

The speaker's habit of using a walking treadmill during calls influenced team members to do the same, leading to a healthier and more active work environment, and even weight loss among team members.