Leaders…This ones for you! I just finished reading EntreLeadership by Dave Ramsey, and here’s the nutshell of the book. Very insightful & I’ve truly enjoyed Dave Ramsey’s help over the years through “Financial Peace University.”
If you want to lead, or you want to grow or hire leaders, they and you must remember that the very things you want from a leader—integrity, passion, humility, vision, loyalty— are the very things people expect from you. You must become more of each of these characteristics every day to grow yourself and your business. And to the extent you’re not doing that, you’re failing as a leader.
We should always be dreaming. Dreaming is the lifeblood of people and organizations that are alive and thriving. Some people dream and stop there. They never do anything to make their dreams come true. You must get up, leave the cave, hunt something down, kill it, drag it back to the cave, cook it, and then you get to eat.
When I apply basic time management principles in my life, I get a ton more done, and strangely I am more rested—or is it just more satisfied? All of us can spend time doing ridiculous things that are a complete waste of time. As you gain leadership responsibilities, you have to pull back on the scope of what you can personally do. You have to spend your time working on things only you can do.
The larger you dream, the larger your organization becomes, and the more complicated and emotionally draining your decisions. But your business, your family, your team, and your future are paralyzed when you are.
Successful marketing involves passion, activity, scarcity, urgency and momentum. But we are in such a hurry to get to market that a thoroughly designed marketing plan is seldom made. It makes me sick to think about how much money I have cost myself with false starts and mistakes.
Business is way too hard to work at something for just money. There is great honor in doing what it takes to save your family or to hit a short-term goal. But don’t lay out a life plan or business plan that is just for money. You have to have a passion, a higher calling that is big enough to keep you creative and energized throughout your life. For the long term, select something that causes a chill to run down your spine.
Most businesses are horrible at hiring and firing. Our team is so central to our success that our interactions with them as they come in the door is very intentional. Proper hiring creates a good team, and a good team lowers turnover. Team members leave, or are let go, most often because they should never have been hired in the first place. Our goal is to find out someone is not a good fit before we hire him or her.
All leaders must learn to sell. No money is made unless a sale is made. Customer service is sales, shipping is sales, production is sales, and quality control is sales. The first thing that comes to mind is that you don’t want to be in sales. But when done properly, sales should never be manipulative or pushy. If customers have a wonderful total experience, they will remain customers for life and send you more customers.
Business is really not that hard. Most small businesses fail because of poor accounting. They start without enough money (undercapitalized), miss projections, do not pay their quarterly or payroll taxes, and run into “cash flow problems.” But when you do the basics—budget, stay out of debt, don’t buy what is not needed to make a profit, save cash, and be generous—you will find yourself running a stable and satisfying operation.
One of the hallmarks of winning companies is that they are very intentional and effective at communication. When the right hand doesn’t know what the left hand is doing, great frustration and distrust set in. If you want to create a company that is fun to work for, where productivity and creativity are high, and that you are actually glad to lead, create a culture of communication.
We handle all our interactions with our team according to one simple rule: The Golden Rule. You have to learn to treat other people as you would want to be treated if you want loyalty and unity in your company. Do you know why most employees aren’t loyal to their company and leadership? Because their company and leadership aren’t loyal to them.
Whatever you give recognition for will grow quickly inside your company. A sincere compliment is so unusual that when you begin giving them, you are immediately set apart as a leader and as a human. We have to fight the tendency to only course correct. “Constructive criticism” is often destructive. Course correction is part of a leader’s job, but it’s not his or her only job.
A company’s compensation system is a clear refection of its values and culture. If you value your team, they will know it in a lot of ways, and one of the ways is that they’ll be paid well. Paying them well does not mean overpaying based on contributions. You can follow everything I’ve said about team building and still fail if you don’t say thank you in the paycheck.
Delegation may be the most misunderstood and abused subject area of leadership. When you delegate to someone improperly, you will make a huge mess and add more drama to your life than you can stand. But when you properly prepare your organization’s culture, hire and keep only the right people, build unity and loyalty, recognize achievement, and compensate creatively, delegation will become the joy of your life.
My goal has been to share with you our playbook, what has caused our company to be successful beyond my wildest dreams by any measure. I am sure that we have become so successful because God has chosen to bless us as we have worked really hard to become not just leaders and not just entrepreneurs, but EntreLeaders.
If you want to purchase the book? You can get it here: http://amzn.to/2aBScjt