the only skill you need to build a $1M company…
Summary
TLDRThis script details a transformative journey from business dissatisfaction to a thriving, team-centric leadership model. It emphasizes the evolution from a 'title leader' to a 'servant leader,' where the focus shifts from command to support and growth. The speaker introduces 'transformational leadership,' highlighting the importance of outcome-based goals, measurement, and coaching to foster autonomy and trust. Additionally, the script underscores the necessity of building a talent engine to acquire, train, and retain top performers, ultimately becoming the leader who recruits, develops, and retains talent, sharing personal growth to inspire others.
Takeaways
- 😀 Leadership is about serving your team, not having them serve you.
- 🌟 There are three levels of leadership: the title leader, the trader, and the servant leader.
- 🔑 The highest level of leadership is the servant leader, who focuses on helping others succeed.
- 💡 Building trust with your team is crucial for a leader to enact change effectively.
- 🔄 Leadership involves leading without doing others' jobs, allowing team members to take ownership of their tasks.
- 📈 Transformational leadership focuses on outcomes and empowers team members to achieve more independently.
- 🛠️ Developing a talent engine is essential for sustainable business growth, involving acquiring, training, and retaining talent.
- 🎯 Setting clear outcomes and using measurements helps align team efforts and track progress.
- 👨🏫 Training talent through the 'camcorder method' allows for efficient skill transfer and development.
- 🔗 Aligning individual goals with company objectives fosters loyalty and motivation among team members.
- 🚀 Personal development and transformation are at the core of effective leadership, inspiring others through your journey.
Q & A
What is the main theme of the speaker's journey in business?
-The main theme is the transformation from disliking the business he built and feeling unsupported to building a business where he enjoys every moment and is passionate about his team, which he attributes to the development of leadership skills.
What is the first level of leadership mentioned in the script?
-The first level of leadership is the 'title leader,' who leads based on their position and authority, often resulting in a lack of genuine commitment from their team.
What challenges does the 'trader' leadership style face?
-The 'trader' leadership style, which is based on exchanging incentives for work, faces challenges when team members can be swayed by better offers from competitors, leading to a lack of loyalty and commitment.
What is the concept of a 'servant leader'?
-A 'servant leader' is someone who focuses on serving their team members, aiming to support and help them succeed rather than simply directing them to achieve the leader's goals.
Why is trust important in leadership according to the speaker?
-Trust is crucial because a leader cannot effect massive change without the support and commitment of their team, which is built through a servant leadership approach rather than through trading or authoritative commands.
What is the 'tell-check-next loop' and why does it become problematic?
-The 'tell-check-next loop' is a transactional leadership approach where leaders tell team members what to do, check if it's done, and then tell them the next task. It becomes problematic as the business grows because it is unsustainable and can lead to the leader feeling overwhelmed.
What is 'transformational leadership' and how does it differ from transactional leadership?
-Transformational leadership is a style that focuses on developing people to work more effectively without constant direction. It differs from transactional leadership by setting outcomes, measuring progress, and coaching team members to improve their decision-making and strategies.
Why is building a 'talent engine' important for a business?
-Building a 'talent engine' is important because it ensures a continuous flow of great people into the business, which is essential for growth and synchronization with customer demand. Without it, businesses may struggle to keep up with demand and may be held back by underperforming team members.
What is the 'camcorder method' and how does it benefit the training process?
-The 'camcorder method' involves recording oneself performing tasks while explaining the process and criteria for excellence. This method benefits the training process by providing a visual and auditory guide that new team members can follow to quickly learn and master tasks without requiring additional time from the leader.
How does setting five-year goals help in retaining talent?
-Setting five-year goals helps in retaining talent by aligning the personal and professional aspirations of team members with the company's objectives. This alignment fosters a sense of purpose and investment in the company, increasing loyalty and commitment.
What is the speaker's philosophy on training talent and why is it effective?
-The speaker's philosophy is to invest in developing team members so that they can contribute more to the business. This is effective because it not only saves the leader's time but also empowers team members to grow and take on more responsibilities, leading to a more capable and efficient team.
What is the final part of leadership the speaker discusses and why is it significant?
-The final part of leadership discussed is 'becoming the person,' which is about personal development and serving as an inspiration to others. It is significant because leadership is not just about managing others but also about embodying the qualities and success that can motivate and inspire a team.
Outlines
🌟 The Transformation of Leadership Philosophy
The speaker shares their journey from despising their business to finding joy in it, attributing this change to the development of leadership skills. They emphasize the importance of understanding that a leader works for their team, not the other way around. The narrative includes the speaker's exposure to Silicon Valley's leadership styles and the realization of three levels of leadership: the 'title leader,' the 'trader,' and the 'servant leader.' The speaker advocates for the servant leadership approach, which focuses on supporting the team rather than commanding them, as it builds trust and loyalty. Additionally, the speaker introduces the concept of transformational leadership, which involves setting outcomes, measuring progress, and coaching team members to improve and grow.
🛠 Building a Talent Engine for Business Growth
This paragraph delves into the importance of building a 'talent engine' to identify, develop, and retain great team members. The speaker discusses the challenges of relying on key underperforming individuals and the necessity of creating a system for talent acquisition and development. They introduce the 'camcorder method' of training, which involves recording tasks being performed to high standards, allowing new team members to learn quickly and efficiently. The speaker stresses the importance of training on principles rather than specific tasks to ensure the training remains relevant over time. The goal is to create a team that can operate effectively even in the absence of the leader, thus allowing the business to scale without being limited by the leader's availability.
🎯 Aligning Individual Goals with Organizational Vision
The speaker explores the concept of retaining talent by aligning individual team members' goals with the company's vision. They advocate for the use of five-year goals to understand and integrate personal aspirations with professional development. By doing so, the speaker believes that team members become more invested in their work, as it contributes to their own long-term objectives. The speaker shares a personal anecdote about hiring someone with the goal of starting their own marketing agency, illustrating how they were able to align this ambition with the company's needs. The paragraph concludes with the idea that by investing in team members' growth, leaders can create a loyal and motivated workforce that is driven to excel both for themselves and for the organization.
🚀 Embracing Personal Growth and Inspiring Others
In the final paragraph, the speaker discusses the personal aspect of leadership, emphasizing the importance of self-development and the courage to share one's journey with others. They argue that leaders should aspire to become the person they needed during their most challenging times and use their transformation as a source of inspiration for others. The speaker challenges the fear of judgment that often prevents people from sharing their stories, suggesting that this fear is self-imposed and can be overcome by focusing on serving and inspiring others. The paragraph concludes with an invitation to learn the four essential skills for building a billion-dollar company, offering a link for further exploration.
Mindmap
Keywords
💡Leadership
💡Servant Leadership
💡Transformational Leadership
💡Talent Acquisition
💡Talent Development
💡Talent Retention
💡Transactional Leadership
💡Trust
💡Empowerment
💡Alignment
💡Personal Growth
Highlights
The importance of understanding leadership as working for your team, not the other way around.
Exposure to Silicon Valley's different management styles leading to the discovery of three levels of leadership.
The 'Title Leader' who relies solely on their position to command, often leading to team dissatisfaction.
The 'Trader' leadership style, which uses incentives but lacks commitment to the mission.
The highest level of leadership, the 'Servant Leader', focused on supporting the team's success.
Building trust through a servant leadership approach, which is essential for massive change.
The concept of 'Transformational Leadership' that unblocks people to work more independently.
Avoiding the 'tell-check-next' loop to prevent feeling overwhelmed as a leader.
Defining outcomes and using measurements to track progress in leadership.
Coaching team members to improve their strategies and decision-making.
Developing a 'Talent Engine' to identify, develop, and retain great team members.
The necessity of building both a customer acquisition and a talent acquisition engine.
The 'CAMCORDER Method' for training team members efficiently without extra time investment.
Training on principles instead of tasks to ensure evergreen knowledge within the team.
Using five-year goals to align team members' ambitions with company objectives.
The philosophy of investing in team development to achieve personal and company growth.
Encouraging leaders to share their transformational journeys to inspire others.
Leadership is about becoming the person who can recruit, develop, and retain top talent.
Overcoming the fear of judgment by focusing on serving others with your leadership story.
Transcripts
I'm going to take you on the Journey of
how I went from hating the business I
had built and feeling like no one was on
my side to today building a business
where I'm pumped to hang out with my
team in love every second of my day and
it all comes down to this one skill
leadership the first part of leadership
that you need to understand it's this
your team doesn't work for you you work
for your team so I moved to Silicon
Valley and I got exposed to a completely
different way people let I had these 26
yearold kids running around raising
hundreds of millions of dollars leading
these companies of a thousand employees
the way I thought you managed people was
a certain way and I was exposed to a
completely different style that's when I
learned the three levels of leadership
the first leader is the title leader
this is maybe the person you've worked
with when you worked at like a
entrylevel job or just starting in your
career this person pretty much says the
words I'm your boss do what I tell you
to do because they have a title they
think everybody's got to listen to them
so most people get it wrong and then
they have people that are leaving them
all the time because they're paying them
a little bit more an hour an extra 50
cents an hour person leaves they don't
quit the company they quit their boss
usually a title leader worst way to lead
people the second level is the trader
this is a person that says if you do
this for me I will trade you for these
things the challenge with that style is
that the moment somebody else will trade
them for more they're going to bounce
they're going to leave you the highest
level of leadership the third level is
the servant leader when you show up as a
servant leader every meeting isn't about
let's get done it's literally starting
with the intention of how do I help
these people how do I show up for this
team it's I'm not here to get them to
produce for me I'm here to support them
in their production it's a different
intention but it changes the whole frame
the whole conversation and it builds
trust no leader will be able to affect
massive change if their team doesn't
trust them when all you're doing is
trading with other people or telling
people do this cuz I'm the boss then it
doesn't create trust the servant comes
in and says hey I just want you to win
and if we all win we all get to succeed
together how can I help that is a person
that's being of service most people
start off and they're just like I paying
you do what I told you to do that's the
title leader the trader is like okay how
do I get them motivated all right I'll
give them an incentive program the
problem is is that if all you're doing
is an incentive program there's no
commitment to the mission there
literally just there because it's
transactional the servant leader has
stickiness because they're there to
serve the individual and the person
respects the leader that says hey I'm
not telling you what to do I'm here to
support you where are you stuck where
are your challenges my job is to unblock
you that team member will be loyal to
the leader which brings us to the second
part of leadership which is leading
without doing their job most people the
way they lead it's not their fault they
were never taught any other way they
hire people and then as they hire people
they tell them what to do they go off
they try to get busy with their own
projects and they come back they check
in on people and make sure they're
moving forward and they're doing what
they do the challenge with that is that
there's only so many people you can do
that with until you wake up in the
morning and you spend your whole 8 hour
maybe 10 hour day just telling people
what to do and check in on people and it
feels heavy the different style is what
I call transformational leadership in
that style we focus on a completely
different set of objectives and by our
example we unblock people so they can do
more without needing us and that way the
bigger the business gets the less time
it needs from the leader so you don't
end up building a business you grow to
hate here's exactly how it works
transactional leaders do this they tell
people what to do they check that they
got it done and they tell them what to
do next I call it the tell check next
Loop and it sounds great this is what
I've been taught this is how my first
boss delegated to me they told him what
to do the check they got it done they
told me what to do next of course very
productive until you get to about 10 or
12 employees and the whole thing breaks
apart you feel overwhelmed
transformational leadership is
completely different number one is we
want to start with an outcome let's say
the goal was to climb Mount rineer we're
not going to tell them how to climb the
mountain we're going to tell them what
the outcome is which is we're going to
get to the top it's 14,000 some feet at
the top you're going to be healthy
you're going to feel vibrant you're
going to be with this crew of people
you're going to look around it's going
to feel amazing you're going to be in
great shape you're going to post the
flag down there you're going to take a
picture and you're going to let
everybody know you made it to the top of
reineer it's going to feel great we
really want to find the definition of
done this is what completion looks like
then we use measurement that's number
two we got to measure measure exactly
what progress looks like so we can use a
simple thing like elevation gain per day
so you just ask at the end of every day
text me the elevation gain per day that
way we can start figuring out is the
person on the right track and are they
making enough progress each day step
three is coach at the coach level now
what we do is anytime there's a
measurement that's off let's say that
one day they made 1,000 ft of gain the
next day they report back and they only
make 10 ft well on the coaching step you
say hey I noticed you went from 1,000 ft
one day to 10 ft and the next day what
happened well I got lost interesting
well what happened I didn't know and I
went down this path and ended up in a
ravine so I had to circle back so I
didn't make a lot of progress that day
what are some options that you could
have evaluated to help you avoid doing
that in the future hm well I could have
bought that map from the guy at the
beginning of the trail yep that sounds
like a great idea you coach the person
on the strategy to avoid making the same
mistake or make better decisions and
that's the difference is when you follow
the transformational leadership approach
you're transforming the way somebody
works so that that way you don't always
have to be the smartest person in the
room most people get stuck at a level
because their team can't grow with them
transformational leadership is all about
developing your people so that they can
give you more so that you can go further
which brings us to the third part of
leadership which is to build your talent
engine I have a ton of friends that have
business businesses and they end up in a
position where there's key people that
aren't performing but they can't fire
them because it would cause so much pain
in their life they keep them around in
many ways they feel Hostage to an
individual they know they're not great
but they're not that bad but they're
definitely the reason they're not able
to grow and that becomes really tough
and what I've discovered is that if we
don't build a process for identifying
great people and bringing them onto our
team and developing them and keeping
them around then we'll always be at the
mercy of the worst performing person in
our company and for many businesses that
person's holding back all the potential
growth in profit so to do this at the
high level there's three things you got
to get great at you have to acquire
talent you have to train talent and you
have to retain Talent so the skill we
need to develop is acquiring Talent
every business has two engines they have
the engine that gets the customers and
they have the engine that gets the
talent or the team and if all you do is
spend 99% of your time building the
customer engine to get new customers but
you don't build the engine to identify
and bring in great talent into your
business then you won't be able to
synchronize with the demand maybe you've
experienced this where you feel like
you've grown a lot and your calendar
just explodes and you're overwhelmed and
you just want things to slow down
because you can't hire fast enough not
being able to hire fast enough is just
as bad as not building a marketing
engine to get customers those are two
things that have to happen in parallel
so they come together at the exact same
moment you add 10 new clients you got
that new hire you add 10 new clients you
add that new hire you add 10 more
clients you add another hire and because
you know how long it takes you to hire
them you never feel like you're behind
because both of them are coming together
at the exact same time that is building
a talent acquisition engine number two
is you got to train your talent you have
to develop your people I remember one
time a person at event said what if I
hire somebody and I train them all up
and then they leave and my response was
what if you don't and they stay what
I've discovered is training your talent
provides a huge uge Roi on you saving
your time My Philosophy is very simple
we build the people the people build the
business so you have to invest in not
only hiring talent in the right time but
also developing them so they can give
you more inside the business so this is
my process to train my team in a way
that doesn't take any extra time from me
and gets the work done at the same time
I call it the camcorder method so I
always ask myself what does a 10 out of
10 look like if somebody's going to do
something for me what is that criteria I
would use to evaluate a 10 out of 10 and
then I list what questions I might ask
the recipient of that work if it's
delivering something for a customer or
having somebody build something for
another person on the team we Define the
criteria of what 10 out of 10 looks like
then using that criteria we create
training around doing that work
typically it's just recording yourself
doing the work so if you're doing
marketing right now and you're creating
Facebook ads what does a 10 out of 10 ad
look like well it's got a good hook it's
got great copy it's got a clear call to
action so you can kind kind of write out
the criteria of a great Facebook ad then
next time you're creating one just
record yourself and talk out loud while
you're doing it creating the Facebook ad
for example you can record yourself
creating the training to teach somebody
else why would you do it this way
because when I hire somebody I want to
be able to go from Zero to Hero as fast
as possible which means if I can hire
somebody today sit them in front of the
laptop and have them go through all the
training Links of me doing the work or
somebody else on my team that's recorded
themselves do doing the work and at the
end of the week 40 hours of recording
and watching and taking notes I give
them a little assessment to see if they
picked up what we were throwing down I
can see if the person picked it up
without having to do all the training
literally 40 hours of my time bought
back while I was doing the work that
need to get done using the criteria I've
already defined of what 10 out of 10
looks like this strategy will transform
the game for you as you build and grow
your business especially around roles
that are repeated administrative roles
people that do the work that you so get
your team to start recording these and
put them all in a Google doc or whatever
system you use for your standard
operating procedures and that's called
training the hack here is to train your
team on principles not tasks talk about
the right way to do things don't tell
people exactly how to do them because
the principles are Universal and
Evergreen meaning that regardless if the
system changes behind the scenes the
principles will always hold true telling
somebody how to click a button and go
and create an email that'll become stale
very quickly number three is to to
retain the talent one of my favorite
ways to do this is use fiveyear goals
see I learned a long time ago if my
vision is big enough for everybody in my
team's goals and dreams to sit inside of
it makes their selfishness and their
Drive aligned with mine so in the first
interview that I do which is usually the
last interview amongst my team I always
ask them 5 years from now I want you to
paint me a picture professional personal
what does that look like and I write
them down I really want to know because
then I use that to Peg the work we're
doing to their own goals to share with
them how what we're trying to accomplish
now is aligned with their goals so we
can do something bigger together it
allows me to push them to become better
but it's self-invested they want to do
it so that they get to develop into the
person that achieves the goals they set
out for themselves my whole philosophy
is I want to invest in their development
I want to build the people one time I
was hiring an individual to join my
marketing team and that team was going
to grow and honestly what I really need
is to hire somebody that has experience
building a marketing team I remember
this person I was interviewing said to
me my 5-year goals is to have my own
marketing agency which is awesome
because I need somebody to come in and
learn how to develop the team to
essentially act like an agency for the
rest of the business that's an aligned
goal once I knew that then I could map
all the training all the projects all of
their desires to developing themselves
and understanding the skills I taught
them how the business worked all with
the mission that someday they could be
ready to go start their own agency now
some people would say that's crazy why
would you do that and then they leave
the truth is if you do that they'll
probably stay because they continue to
grow and develop people want to stay in
an environment where they get to become
more where they get to become better
where they get to sharpen Steel by
working with other people they respect
and admire and usually by the time they
want to go do their own thing they've
been with you for four or five or six
years honestly that's a long time and if
they've shown up every day driven to
learn how to do that for themselves to
support you that's better than the
person not having that desire not
investing in themselves not wanting to
become that person and you always having
to push them forward which brings us to
the fourth part of leadership which is
simple become the person the big idea is
that leadership is about becoming the
person the person who can recruit
develop and retain top talent the person
who can show up powerfully all the time
not just sometimes all the time and at
the end of the day that's really what
leadership is it's in many ways becoming
the person you needed in your dark days
because that person that shows up with
kindness directness have achieved these
levels of success that you admire that's
really what we're striving for and
that's what your team's going to see
remember one time I was coaching with my
fitness coach Allan and I asked him why
don't you post on social media I mean
your 250 lbs of lean muscle you're
incredibly inspiring your physique your
commitment all these things he's like
man I just don't want to be one of those
guys and I'm like what's one of those
guys he's like you know just person
always posting their photos and make it
all about social media and this and that
and I go interesting and as we were
working out I looked around the room and
you had Schwarzenegger you had seum you
had Ronnie Coleman and I said did those
people inspire you he said well hell
yeah they're the people that made me
want to become the person I am today and
I said interesting imagine if those
people never posted a photo I want to
encourage you to consider maybe you're
being a little selfish cuz I know that
there's a kid that follows you and
because you don't post he's not being
inspired and it was crazy cuz when I
asked him that he then told me he's like
it's kind of nuts cuz I used to weigh
320 lbs I'm like what he's like yeah man
I lost 100 lb in like 6 months and I
decided to get into fitness that story
those photos that Journey that's
inspiring he became the person he needed
most in his darkest days but he didn't
tell anybody so at the end of the day
leadership is not only about developing
yourself but it's sharing your
transformation with the world that is
the big idea the more you become the
more you can give the better you get the
better your team will get the bigger
your team is the bigger you will be it's
a forcing function most people don't
want to share online because they're
worried that people that follow them are
going to judge them because they judge
other people it's kind of funny because
how you judge other people is the fears
you create for yourself it's like my
father-in-law where he's always leaving
reviews on other people's site and then
he won't post his artwork on the
internet because he's worried people are
going to judge his artwork well of
course cuz you're the person judging
everybody else's service leaving reviews
everywhere you can't be a pro-rated
level reviewer and not have a fear that
people are going to judge and review
your artwork when you post it so a lot
of people they fear the Judgment but
it's self-inflicted because of the way
they see the world the world isn't as it
is the world is as you are so the way to
overcome that fear is make it about
serving people make it about the other
person don't make it about you don't
make it about I'm worried what other
people are going to think make it about
I wonder how many people I could Inspire
that shifts everything and it makes it
about others not about themselves
leadership that's where I spend 99% of
my time but if you want to learn the
only four skills you need to build a
billion dollar company click the link
and I'll see you on the other side
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