The Only 3 Skills You Need to Build a $1M Company
Summary
TLDRThe speaker shares his journey from despising his workplace to transforming its culture, leading to a thriving business that continues to grow in his absence. He emphasizes the importance of understanding employees' dreams, crafting a high-performance culture, and building people to build the business. By setting high expectations, aligning team goals with personal visions, and creating a supportive environment, he demonstrates how to foster a successful and fulfilling work environment.
Takeaways
- 😀 **Understanding Dreams**: Recognize the importance of knowing the dreams and aspirations of your team members as it helps in aligning their goals with the company's vision.
- 🌟 **Vision Alignment**: Ensure your vision is expansive enough to encompass the dreams and goals of your team, as this is crucial for attracting and retaining top talent.
- 🔮 **Dream Mapping**: Map out team members' desires to your company's objectives to create a mutually beneficial relationship that drives towards individual and organizational goals.
- 🏆 **Culture Crafting**: Actively shape the company culture to reflect high performance and shared values, and ensure it resonates with the team's aspirations and the company's mission.
- 🛠️ **Accountability**: Hold team members accountable to high standards and lead by example; people will rise to the level of your expectations.
- 🔄 **People Analyzer**: Use a quadrant analysis to assess team members' effectiveness and alignment with company values, facilitating informed decisions on team composition.
- 🛑 **Transitioning Underperformers**: Recognize when team members are not a good fit and transition them out of the company to allow both parties to thrive elsewhere.
- 🏗️ **Building Through People**: Focus on developing people first, understanding that a strong team will naturally build a successful business.
- 📚 **Educational Playbook**: Create a playbook of training materials to address areas of team frustration, ensuring consistent development and understanding of company processes.
- 🔄 **Process Improvement**: Before attributing issues to people, assess if there are process problems that need to be addressed to improve overall team performance.
- 🎓 **Ongoing Learning**: Implement a culture of continuous learning where new employees are trained on the company's best practices, ensuring knowledge retention and consistency.
Q & A
What is the key to attracting and retaining top talent according to the speaker?
-The key is to have a vision that is big enough for your team's dreams and goals to fit within it. It's important for team members to see that they can achieve their personal dreams within the company's vision.
How does the speaker suggest finding out an interviewee's dreams and aspirations?
-The speaker suggests asking interviewees to imagine they have a magic wand and can create their perfect life in 5 years, asking where they would be living, what they would be doing, and how much money they would be making, among other things.
What is the importance of aligning an employee's personal goals with the company's vision?
-Aligning personal goals with the company's vision is crucial because it helps employees to be inherently motivated to drive towards their goals, which in turn aligns with the company's objectives and leads to a more engaged and productive workforce.
How did the speaker help one of the interviewees achieve her dream of living in Florida and running a business?
-The speaker used his connections, including an immigration lawyer and a real estate agent in Florida, to help the interviewee achieve her dream, demonstrating that he could support her in reaching her personal goals.
What is the significance of the 'people analyzer' tool mentioned by the speaker?
-The 'people analyzer' is a tool used to assess team members based on their effectiveness and alignment with the company's values. It helps in identifying top performers, underperformers, and those who may need to be transitioned out of the team.
What does the speaker mean by 'crafting the culture'?
-Crafting the culture refers to actively shaping the work environment and values of the company to ensure that it supports high performance and aligns with the company's vision and goals.
How does the speaker define the concept of 'teaching people how to treat you' in a business context?
-The speaker suggests that leaders set the expectations for their team members' behavior and performance. If leaders do not hold their team accountable or do not model the desired behavior themselves, they are effectively teaching people to treat them with lower standards.
What is the speaker's view on the importance of personal growth and development for business leaders?
-The speaker believes that personal growth and development are essential for leaders. Leaders must continuously evolve and improve to set a good example for their team and to be able to attract and retain top talent.
What is the speaker's advice on dealing with team members who are not meeting expectations?
-The speaker advises to first assess whether there is a process problem that needs to be addressed before considering it a people problem. If it's a people issue, leaders should consider coaching them up or coaching them out, potentially reassigning them to different roles or transitioning them out of the team.
What is the significance of the 'build the people, the people build the business' philosophy?
-This philosophy emphasizes the importance of investing in the personal and professional development of team members. When people are developed and empowered, they contribute more effectively to the growth and success of the business.
How does the speaker suggest leaders should approach teaching their team to improve specific skills or behaviors?
-The speaker suggests creating a training plan where leaders teach their team the necessary skills or behaviors over a series of weeks, focusing on one issue at a time, and recording these sessions to be included in the employee handbook for future reference.
Outlines
🌟 Empowering Team Members to Achieve Their Dreams
The speaker emphasizes the importance of understanding and supporting the dreams of team members, regardless of the company's size. They argue that great employees need to see a path to achieving their own goals within the company's vision. The speaker shares their own method of inquiring about a candidate's dreams during interviews and aligning them with the company's objectives. They provide an example of helping a Brazilian assistant achieve her dreams of living in Florida and running an online pattern business, demonstrating how this alignment can benefit both the individual and the company.
🚗 Surprising a Team Member with a Dream Car
The speaker recounts a personal story of surprising a key team member, Sam, with his dream car, a Porsche GT4, as a token of appreciation for his dedication and hard work. This act was not only a reward but also a strategy to inspire loyalty and commitment. The story illustrates the power of recognizing and rewarding team members' contributions and dreams, fostering a positive and motivated work environment.
🛠️ Crafting a High-Performance Culture
The speaker discusses the process of transforming a company's culture from a 'lovey-dovey family' vibe to one focused on high performance and winning. They describe resetting the company's values and expectations, and using a 'people analyzer' tool to assess team members based on effectiveness and alignment with company values. The speaker stresses the importance of holding team members accountable to high standards and leading by example, as well as the need for decisive action to transition underperforming team members.
🏗️ Building a Team Through Education and Training
The speaker introduces the concept of 'building the people' as a means to build a successful business. They share an exercise where a frustrated client is encouraged to list his team's shortcomings and then create a training program to address each issue. This approach not only improves the team's skills but also establishes a culture of learning and self-improvement. The speaker advocates for recording these training sessions and incorporating them into an employee handbook for onboarding new team members, promoting a consistent and knowledgeable workforce.
🌱 Personal Growth and Sharing Wisdom
In the final paragraph, the speaker reflects on the purpose of life, suggesting that everyone is here to become the best version of themselves and to share their experiences and wisdom with others. They believe in the power of storytelling and the importance of not keeping one's knowledge and experiences to oneself. The speaker encourages the audience to embrace their journey of personal growth and to use their unique stories to inspire and assist others, ultimately contributing to a collective success.
Mindmap
Keywords
💡Dreams
💡Culture
💡Vision
💡Accountability
💡Values
💡People Analyzer
💡Golden Handcuff Quadrant
💡Transitioning
💡Leadership
💡Training
💡Dry (Do Not Repeat Yourself)
Highlights
The importance of understanding employees' dreams and how it aligns with the company's vision for attracting and retaining top talent.
The strategy of interviewing with a hypothetical scenario to uncover an applicant's long-term goals and aspirations.
The concept of having a vision large enough to encompass the dreams and goals of the team.
The experience of transforming a company culture from one of dislike to one of love and success.
The practical example of helping an employee achieve personal goals, such as living in Florida and running an online business.
The significance of crafting a company culture that reflects high performance and shared values.
The exercise of mapping employees' effectiveness and value alignment using a quadrant analysis.
The idea of 'golden handcuffs' to retain top-performing employees who align with company values.
The approach to transitioning underperforming employees out of the company for the benefit of all.
The philosophy that business success is built on developing people who will, in turn, build the business.
The exercise of identifying and addressing the team's weaknesses through targeted training sessions.
The importance of documenting training sessions and integrating them into the employee onboarding process.
The personal story of gifting a dream car to a valued team member as a token of appreciation.
The emphasis on personal growth and development as a leader to better support the team.
The idea of tithing not just in terms of money but also in terms of time and sharing knowledge.
The belief in the power of sharing personal stories and experiences to inspire and help others.
The final message on the dual purpose of life: to become the best version of oneself and to share one's journey with others.
Transcripts
I went from hating the place I worked at
to not only changing the whole culture
and loving the place but working my way
out of being involved or running the
business and it continues to grow every
month and make more money than when I
was actually CEO but I want to share the
three things that changed everything for
me so first thing is I want you guys to
write this down is know their dreams
know their dreams okay because that
doesn't matter what stage you're at
you're about to hire your first person
or you've got a team of honest I coach
people that have you know 14,000
employees the key is for the people that
report to you you need to know their
dreams cuz here's what I've learned
everybody want to hire great people yes
yes perfect well great people need to be
able to see that they can create their
dreams within yours so the rule is that
if you don't have a vision big enough
for your team's dreams and goals to fit
inside of you're thinking too
small write that down draw a circle you
could say Vision my VIs Vision my team's
vision and goals inside of that because
you won't be able to attract and retain
top talent if you don't have that so my
rule is very simple this is this is your
prescription this is my invitation for
you to consider is every person you
interview I just interviewed a bunch of
people yesterday for a bunch of cool
positions in my life and every interview
I always end with the same thing pretend
we can't work together so we take that
option off the table okay can't hurt my
feelings in 5 years from now you wake up
and magically you wave a magic wand and
you're living your perfect life where
are you living what are you doing how
much money are you making who are you
hanging out with feel free to brag to
dream I'm all for it for example one of
the ladies I interviewed yesterday for
she's going to be the assistant to my
assistant sounds crazy very like if you
don't think if you've never considered
that a if you don't have an assistant an
executive is key it's what my book's all
about really but we needed to hire her
another cuz she's that busy and what was
cool is she was from Brazil and I she
said her two goals or dreams are one she
wants to live in Florida on the beach
currently she lives in Brazil okay put
that in the back of my mind K she wants
to live in Brazil got it um number two
she wants to have a business okay
selling patterns on the internet do you
guys know what those are like pattern
design people
okay well good I didn't either it turns
out I actually coach one of the top
women her name is Bonnie Christy and
this is how Niche you can be as a coach
she teaches people how to create designs
and patterns that then companies buy for
t-shirts Fabrics wallpapers that kind of
stuff now does that make sense perfect
so I'm all excited because a I have an
immigration lawyer I have a real estate
agent in Florida and I know the top
person in the world now I don't tell her
this I now know that I can help her
achieve her dreams and goals does that
make sense so here's the key and why
it's so important is that you need to be
able to map their desires to your
desires see all of us want people to
show up for us and I think that's
actually dumb because it's better for
them to be selfishly inherently wanting
to drive towards their goals not ours as
long as we show them how they're
aligned I'm tell this stuff is going to
change the game if whatever business
you're in this is the stuff that will
change the way you because I just think
most entrepreneurs end up building
companies they grow to
hate is that L for some of you guys it's
not the economy it takes out as the
business it's because we ended up
building the business in a way that we
grew to
hate as an
example um I do this exercise with
everybody my director reports I got a
guy on my team named Sam he's very
important part of my New Media company
he's my creative director he's my
business partner I've been working with
him for six years and he's just showed
up every day to help me create my
vision so I wanted to uh I wanted to
bless him up a little bit he's the kind
of guy that every time I'd say hey man I
need you to be rich he's like or I'm
here to learn not
earn super great dude every time I be
and and I'd say well I want to give you
more money he said give it to the team
right and he's so financially
responsible when I was like hey man I
know your dream is to do all these cool
things and whatever you should do that
instead he decides to buy a house he's
22 years old buys his first house a
million dollar home at 22 he' been
saving since he was 15 he like
crazy so I had the opportunity to do
what I love
best and about two weeks ago we land
back home he's with me he's always with
me and I lie to him and I tell him I got
to go stop in at the dealership to go
look at some cars
and um as we're walking through the
dealership I I look over and I see that
he sees his dream car a porse
GT4 oh yeah you guys know what I'm
talking
about
white we called it project white
monster as a team we all got involved in
it and we walk around the corner and he
sees
it and I'm so nervous I'm like DN I'm so
nervous I want to make I had some stuff
I want to say I want to surprise him and
he's looking at me and he's looking at
the C and he's looking at me and I said
dude isn't that on your
phone and because that's one of the
things I teach people if you want to
know what your team's dreams are help
them develop it and then make them put a
wallpaper and put it on their phone and
I said pull out your phone he pulls out
his phone it's the exact same car well I
know I said that's crazy man he's like
that's so
nuts and and we're standing
there
and I get a little teary eyed and I just
tell them how much it means to me and I
pretty much
say I know you wouldn't do this for
yourself so I did and I pull out the
keys and I give it to him
wow thank
you and uh
it was so much fun he let me drive the
next day I showed him what the car could
do I think he's gone through 50 tanks of
gas and two sets of tires since then in
two
weeks but that's just an example like
and look he this is not I don't buy
people cars all the time okay everybody
the next day when I went to work
everybody showed me their
phones got a gwag just like guys calm
down you're not Sam like let's just
let's just get clear and uh but I just
think step one it's important to know
your team's dreams and goals so can you
guys make me a commitment that if you
have anybody on your team especially if
they report to you can you help them
develop their five-year dreams and goals
because they won't know okay help them
yeah clap that up for your teams I'm
pouring into you so you can pour into
them step two second that we had to fix
we had to craft the culture write that
down craft the
culture here's how we craft Ed the
culture I want to remind you all that
this business is your
business and unfortunately some of us
forget that and because we want to be
accommodating we make
accommodations and honestly they're not
even accommodations you lower your
expectations for greatness from other
people or another way to say it is you
lower your standards of what you expect
of other people and the challenge with
that is that you end up coming to to
work at a company that you eventually
will fall out of love with like I did
and some of you guys have gone through
this once twice or Thrice here's what
I'm going to remind you it's your
business and if you don't love the
company it's at risk for everybody at
the company so that's why I always tell
team members at the end of the day you
need to make sure that the person who's
at the head of the table the CEO that
you support them because to the degree
they want to show up and drive every day
if they're a good person you're
dependent on them and I learned this big
idea CU some of you guys are allowing
team members on your team to be a
certain way or underperform or whatever
it is is that you teach people how to
treat you write that down you teach
people how to treat
you people will only rise to the level
of your expectations of them if you
don't hold them accountable for it it's
really tough now the key with that is
that you have to go
first so if you ask them to show up on
on time and you're always late for
meetings they're not going to listen to
you if you ask them to be growth-minded
but you haven't changed and evolved in
front of them in a meaningful way that
they can see they're not going to be
growth-minded and the people that are
that that are good because people meet
my team and they go how do I find a Sam
I go the truth is is unfortunately I
don't know you well but he probably
wouldn't work for
you it's just true because if I act like
some of the stuff I see my clients that
I coach act like my my team would run
they don't need to work for me they get
job offers every day they can go work
anywhere else does that make sense so
here's the deal you have to be good
enough for the good
people you got to be good enough for the
good people and some of you guys are
frustrated with people that aren't good
because you're not good enough yet so
that's the good news is you know just
like in that moment I had I had to
develop I had to grow or I had to deal
with what I ended up with here was the
exercise that we went through first
first off I reset my values at the
company based on what I needed okay so
we went away from this like lovey-dovey
family culture that Karen
built okay you can just imagine what
kind of culture a Karen would create and
here what's crazy she did it on her own
I woke up one day and realized that she
put candidates forward not because they
were the best but because she wanted
them on the team so I will tell you and
I hopefully you guys got the point
whoever's running your HR department
they need to be a business partner they
need to be somebody you trust you need
to audit their process because when I
found that out I can only blame one
person this guy right
here now once we figured out what the
values were then we had to reset them
with the whole team and say this is what
we're about we're about high performance
teams and the whole like family Vibe
that's not going to work anymore at the
end of the day every person shows up and
they demonstrate through their actions
that they are here to win we win
championships that was the new cultural
Mantra we're Championship
winners the way we did that is we took
an XY axis everybody just draw big X and
Y you guys got that okay left side
effective how effective are they the
bottom do they embrace the values okay
so now you got a quadrant you got
Effectiveness and values and then I made
everybody left on the team to plot every
person that they thought and we argued
over it does that make sense cuz some
people like hey this person rocks I'm
like don't really agree let's put him in
the middle or it's like this person
bleeds our values it's like really tell
me how right and here's a deal people in
the top right quadrant these are people
that are very effective and embrace your
values awesome figure out how to give
them compensation structure that keeps
them around those I call that the golden
handcuff quadrant the people that have
high effectiveness low values okay
cancer get them off your team cancer get
them off your team people that have high
values low Effectiveness you got to find
a different seat on the bus okay you're
going to write this stuff down you're
what did he say again the seat on the
bus means you coach them up or you coach
them out they may not be able to stay
but you got to at least give them
another shot on a different spot on the
the because they might be in the wrong
seat the people that are obviously low
uh Effectiveness and low values you had
60 days to get them off the
team and that's just the way we did it
that's called the people analyzer if
you're struggling you have a bigger team
it's a beautiful way to look at it or if
you're working with another leader and
you have people that are underperforming
it's a it's a really great tool to get
on the same page about kind of where
they think people are on the team is
that awesome Yes or yes it's powerful
it'll just make that whole process
easier so you had to I had to craft the
culture here's the question okay some of
you guys are like I like everybody I'm
like okay
cool let's pretend that I paid and
forced you to put all your employees on
vacation for six months they're going to
Bali on Dan cool they're gone to Bali
you don't have to work they're gone the
question I would then ask you out of all
those people it could be one person
could be 15 people it could be a
thousand people how many of those people
would you enthusiastically rehire in six
months if you don't have one or or two
names that come to mind then you
probably got to go find some other
people see you know what sentence has
never been said in the English language
I wish I would have never listened to my
gut isn't that funny that sentence has
never been said in the history of
humanity I wish I would not have
listened to my gut you already know you
know if there are people that you want
around or not and you just got to know
that and then just make a decision to
transition them I don't call it firing
it's transition them cuz I think it's
selfish to keep them around cuz you know
they'll never be great with you and
you're stopping them from being great on
another
team let them go cool that's number two
are you guys loving this yes or yes all
right I'm bearing my soul I'm giving you
the best of the best of the best third
thing is the simple concept that will
change everything from a leadership
point of view for you and how you build
High performan team I write this one
down we build the people the people
build the business we build build the
people the people build the
business one day I was talking to one of
my clients and he was a bit negative
that day a little frustrated with his
team and he was going off about this and
that and I was like okay Mr
negative let's do this I want you to
write down all the things that you're
telling me are frustrating you about
your team like just be detailed he's
like what are you talk I said like write
it down what did you just say to me he's
like well my team doesn't collaborate in
our meetings when we're doing like
strategy stuff cool what else um I just
don't feel like they are you know really
in it part of the mission cool what else
um some of them don't know how to manage
their freaking time cool what else and
he he made a list okay this is the
exercise you guys are all going to have
to do so just take notes so we made a
list of all the things that frustrated
him and then I said okay you got that
list there's like 13 things on there
he's like yeah I said okay now show me
where you have a Playbook teaching them
how to do that first one
well I mean thank you clap it up that's
actually like that'll change your
life because I believe if we have issues
in our business we either have a process
problem or a people problem but I can't
immediately go to people until I see if
I have a process problem so once he he
heard that he's like well okay Dan I
have nothing for any of this I said cool
good news is now we have your Hit List
rank them by things that frustrate you
the most and every week for the next 13
weeks you're going to create a training
for 60 minutes and you're going to teach
your team how you do that thing how do
you collaborate in a meeting what
information do you prep for how do you
let people ideate how do you prioritize
the ideas that come up how do you manage
your time have you ever taught your team
how you are so productive he's like no I
said cool now we're going to create
it because my philosophy since then this
is what I missed is that I stopped as a
CEO training my team
and it was such a missed opportunity I
didn't ask my leaders to do it I didn't
make sure it was being done yeah we had
an unlimited budget for education and
you can have a library and book clubs
and all that crazy stuff but at the end
of the day it's kind of awesome because
what you're doing is saying here are the
weak parts of my business and my team
boom boom boom and every week you can
literally see light bulbs get turned on
and within 13 weeks his business was on
fire and here's here's you guys want to
know the secret secret Y no you don't
all right do you want to know the secret
secret all right record the sessions put
it into the employee handbook and all
new employees have to go into it and
watch them before they jump on the
team so that way I call it dry I'm a
software guy dry stands for do not
repeat
yourself so you want to be dry meaning
that I want to teach it once I never
want to repeat myself I want to know
that every new person I hire is going to
know that thing about how I do that
thing and I start to build the culture
at our
team that was the third thing so in real
brief recap okay I went from hating the
place I worked at to not only changing
the whole culture and loving the place
but working my way out of being involved
or running the business and it continues
to grow every month and make more money
than when I was actually CEO would you
you guys like to learn how to do
that all right here's what I want to
share as we land the
plane I believe that every person on
earth is here to do two
things the first one I'm assuming I have
some people of faith in the room I
personally believe that I was created in
the image of my
Creator awesome well here's the deal he
had a big vision for my
life when I was 17 I decided to try to
take my life he showed up and he stopped
that
situation and I didn't
know I didn't know God the way I know
him
today but I will tell you yes thank you
but he showed up and he had plans for me
so My Philosophy the first thing I think
everybody here on Earth is here to do is
to become the best version of themselves
become the 10.0 version of yourself
become the person God created You In His
Image I believe you're job is to become
the person you needed most in your
darkest
days every day I wake up and I honor
that journey I don't think I'll ever be
able to stand up to that but I strive
for that second part as you're on that
journey is to share what worked with
other people tell your story just tell
your story I'm not going to stand up
here and teach you stuff I read in a
book I can only teach you what worked
for me I'm going to tell you how where I
started the journey and my desire
is to help other people through that
process why when we help other people we
help
ourselves it's a beautiful thing I think
a lot of people in the concept of
tithing they get confused they think
it's about money I actually think it's
about
time and I think what's really
impressive is the people that decide to
put their fears to the side and step up
into their courage and take those
lessons learn and not diminish them and
think well everybody knows this
everybody's doing this no they're not
and regardless if they are the world
needs to hear your version of
it and if you do
that here's what'll
happen that vision board that you've
helped those team members create that
hopefully they now have on their
phones your reputation being a great
person that strives and your reach by
helping other people will make all of
their dreams come true
guys thanks for having me appreciate
you awesome thanks man you guys
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