Welcome to Stage 27 of this year’s Tour de Profit! So, what is in store for us in Stage 27? Today we are building Leverage into our business through our People Processes. A powerful way to Leverage your time and resources is to work with the best people in your industry.
Dr. Demming, once said that 94% of all failures in a business are the result of the “systems” in the business and only 6% of the failures are caused by the people in the business. Yet, when we look to find why things go wrong, we often begin first to look at the people involved and “find the guilty party”.
If we were honest with ourselves, we would have to admit that the guilty party is most often us – the business owner. So let’s focus on building a better “system” that will both improve the consistency of the output and gain us Leverage at the same time.
Your Profit Tip of the Day
When it comes to the people side of the business, the best place to start is your hiring process. So, your first question is, “What is your Hiring Process?”
Is it repeatable? Is it reliable? Can you be certain that you will make the best hiring decision each and every time? These are critical questions that you need to be able to answer.
Think differently about how you make hiring decisions and your process will surely change. How about the personal development and skills training for your team? Does every person on your team have their own personal development plan? Make it a job expectation. Your team members will thank you as they become more skills, more capable and more confident in their ability to do the job they have been assigned.
Think about your performance assessment process. How do you give feedback to your team members on a regular basis? Is it hit-or-miss or do you have a structured approach? Constructive feedback from peers is often the most effective way to get people to change their behaviors.
These are just a few of the “systems” you can put in place to gain Leverage from your people processes. Incremental changes in this area can result in not only huge time savings but also increased performance and on job satisfaction. Take your people processes seriously. Involve your team in the solutions. They are critical to your success and deserve your best efforts on their behalf.
Put at least one new process in place this week to improve your business team.
If you’re looking for more success and freedom from your business, join my FREE, private Facebook Group called The Peloton. It’s where business owners like you are learning, sharing and working together to get better every day! Here’s the link: https://www.facebook.com/groups/jointhepeloton/
Come on – join us! And remember, whatever you do, RIDE HARD!