5 strategies to assure effective execution of the Hire the BestTM Solution: Part Four of Five, Lean & Mighty
In our 5-part series, we’re examining the Hire the Best Solution™. If you missed parts 3 through 5 find them here: Sustainable Profitability | Sweet Spot | Innovation. The next step? To be Lean & Mighty!
If you really want to grow your business and find more balance for yourself you’ll find that focusing on your people directly affects your profit.
Here’s an excerpt from my book How to Hire the Best on how to examine your team…
…and work towards defining best roles, better processes, and a strong culture.
No matter how much you niche or innovate to reduce labor needs, you will need some team members to run your business and perform tasks. Thus, if you cut your needs down by 20%, make sure whomever is on your team is the best available. This means you will have to be realistic about what you pay for labor, and price appropriately. Too many small business owners are eating the costs of labor and it’s driving their profit down, while driving them out of business.
Time and again, in our clients’ businesses, we see that one A-Player can do the work of nine to twelve “warm bodies.” Not two. Not five. Nine to twelve. A-Players are more engaged and more productive. They make fewer mistakes. They come to work on time. They work even better when they are not having to correct problems created by “warm body” co-workers. When you identify their strengths and deliberately align their strengths with the results you need from them… watch out. They will blow you away with what they can accomplish!
Successfully growing your team comes down to this: Hire top talent who are a good fit for a clearly defined role. Compensate them well. Create a great place for them to work that retains and attracts A-Players. The efficiencies and profit growth you gain through niching and innovation make it much easier to do that.
The Hire the Best™ Formula for Growing your Team and your Profit:
• Hire top talent who are a good fit for a clearly defined role
• Compensate them well.
• Create a great place for them to work that retains and attracts A-Players.
What does it really mean to be Lean & Mighty?
It really does come down to creating a great culture. You may need more leadership with an entrepreneurial mindset, or you may need more task masters to help coordinate and be the boots on the ground. Whatever your case may be, you’ll know the roles to fill once you have a clearer picture of what you have (by following steps 1, 2, and 3) and by setting a vision for your role and your future.
A great culture will retain (and reward) all team members, making for the most sustainable company. This will also create buy-in from your customers, creating your best brand advocates. They will find unity in rowing together and sharing common goals. People will feel accountable to each other, supporting each other along the way. Celebrate the small victories along the way, because they are all leading to your bigger vision.
More details available in my book, How to Hire the Best.
(Contractor Edition coming Fall 2019!)