State of the Business Owner People Webinar

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State of the Business Owner People Webinar

  1. 1. State of the Business Owner 2012 Owners & Employees: Create a Culture of Ownership People Webinar August 1, 2012 Presented by: Cameron Madill, President and Founder, Synotac Tricia Huebner, VP, Business Development, EMyth Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  2. 2. Presenters Cameron Madill Tricia Huebner President VP, Business Development Synotac EMyth Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  3. 3. Webinar Questions & Comments Twitter Hashtag: #sobo2012 GoToWebinar Chat Window Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  4. 4. Origins and Motivation of SOBOWhat are the success factors helping small and midsize businesses succeed in 2012? Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  5. 5. The Planner The Pessimisto Believes they control their o Believes the future is dictated destiny by external events beyondo Has a coherent vision of the their control future o Does not have a vision for their company in the futureo Regularly tracks business o Has few or no formal plans for metrics making progress towards thiso Has concrete plans to move vision towards their business o Does not regularly consult vision metrics to track businesso Are innovative with progress technology Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  6. 6. Why should I care?Businesses owned by Planners:  Grew faster in 2011  Had higher annual revenues  Were more optimistic about 2012  The owners took home more compensation Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  7. 7. Fundamentals Accelerators People Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  8. 8. KEY #3 People Key #3: PeopleFor Guides & Additional Resources www.stateoftheowner.com
  9. 9. The Business of People In a recent Gallup survey it was reported that 70% of workers are underperforming or actively undermining the work of their company. The voluntary “quit” rate is on the rise again as worker mobility increases as the economy comes out of recession. Employees trapped in unfulfilling jobs will begin to pursue their search for passion and meaning in their work. Raises were minimal in 2011, showing the effect of the ongoing global recession. As worker mobility increases, keeping good people will require fair compensation and opportunities for growth combined. Businesses that had results-oriented role descriptions with ALL of their employees outgrew their peers by 50%. Clear expectations and creating a culture of ownership is the key. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  10. 10. If your employees are not thinking and acting likeowners, they are thinking and acting like renters. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  11. 11. Ownership KEY #1 - FUNDAMENTALS Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  12. 12. BalanceIndividual Collective Action Culture Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  13. 13. A Culture of Ownership You gain… Must be willing to… Faster Growth  Start with your own Primary Aim Innovation at every level  Trust others Adaptability to change  Recruit/hire for values first Aliveness  Delegate both responsibility and Risk-taking authority Being able to “let go”  Give up control/micromanagement KEY #1 - FUNDAMENTALS Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  14. 14. EMyth Foundations of Ownership: Choice Caring Self Interest Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  15. 15. Owners and Renters• Self Interest vs. Self Preservation• Caring vs. Compliant• Choice vs. Victimhood Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  16. 16. Passion & Meaning (Self Interest) KEY #1 - FUNDAMENTALS Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  17. 17. Generations in the Workplace* Work Interactive Communication Attitude About Generation Perspective Style Style Authority Veterans Work First! Individual Formal Accepting and (the silent trusting generation) 1922- 1945Baby Boomers Live to Work! Team Player Semi-formal Accept the rules 1946-1964 created by VeteransGeneration X Work to Live! Entrepreneur Not serious, Openly(1965-1980) irreverent questions authorityGeneration Y Live, then Work. Participative Informal Okay with(1981-2000) Eye-catching authority that Fun earns respect * Source: Neil How and William Strauss, Generations: The History of America’s Future. 1584 to 2069 Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  18. 18. Your Primary Aim A brief statement that describes your highest values and expresses how your want to live your life. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  19. 19. Primary Aim ProcessStep1. What Don’t You Want?Step 2. What Do You Want?Step 3. What Gets in Your Way?Step 4. Write Your Eulogy.Step 5. The essence of my Primary Aim is to live a life that is…Step 6. Create a list of Personal Objectives Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  20. 20. Ownership Self Interest = Innovation Caring = Commitment Choice = Accountability Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  21. 21. Engagement (Caring) KEY #1 - FUNDAMENTALS Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  22. 22. In a recent Gallup survey it was reported that 70% ofworkers are underperforming or actively undermining the work of their company. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  23. 23. Engagement Drivers:1. Recognition2. Professional Growth and Development3. Clear Expectations4. Trust and Autonomy5. Fair Compensation Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  24. 24. People DevelopmentVision: A clearly written Strategic Objective (vision document)describing a picture of the company that has been shared with all.Structure: Organizational chart, results statements, policies,position agreements, employee development meetings.Training: Orientation, job-specific, and ongoing tied toprofessional development goals and performance plans.Tools: Systems, best practices, brand promise. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  25. 25. Research Findings Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  26. 26. Owning the Results (Choice) KEY #1 - FUNDAMENTALS Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  27. 27. Businesses that hadresults-oriented position agreements with their employees outgrew their peers by 50%. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  28. 28. Research Findings Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  29. 29. Committed vs. Compliant Position Agreements are a powerful management tool that communicates the results an employee is hired to achieve and transfers ownership to them. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  30. 30. Position Agreements vs. Job Descriptions A written agreement between a manger and anemployee that makes explicit the result the employee is accountable for in that position and the standards necessary to produce that result. VS. A job description – the unsatisfactory but commonalternative – that is often just a glorified “to do” list that is an organizational formality than a document which service a greater purpose. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  31. 31. Elements of a Position Agreement Position Identification Results Statement Work Listing: Strategic & TacticalStandards (position specific & company-wide) Signatures Page Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  32. 32. Results Statements (Why)Tells an employee why that position exists in the company and connects it to theStrategic Objective. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  33. 33. The Work Listing (What) Strategic Work: Tactical Work: Defining Producing the results the results Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  34. 34. Standards (How)Standards indicate how the workshould be done…behavior, attitude, brand promise. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  35. 35. Two Types of Position AgreementsManagerial: Includes the resultstatements for all direct reports and agreater percentage of strategic work.Non-Managerial: Format used foremployees that are not supervising othersand has a greater percentage of tacticalwork. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  36. 36. Strategic and Tactical Breakout Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  37. 37. Position Identification and Result StatementManagerial Position Agreement Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  38. 38. Even the CEO/President needs a Position Agreement Key #3: PeopleFor Guides & Additional Resources www.stateoftheowner.com
  39. 39. Sample Work Listing for Managerial Agreement Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  40. 40. Key #3: PeopleFor Guides & Additional Resources www.stateoftheowner.com
  41. 41. Key #3: PeopleFor Guides & Additional Resources www.stateoftheowner.com
  42. 42. “Truly delegating a project/task is hard –because it’s emotional. You can say the right words but your employees are holding out for the moment when they feel you let go, because only then can the project actually be theirs to own.” - Jonathan Raymond, EMyth CEO Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  43. 43. Implementation Checklist Review vision, values, and brand promise. Review organizational chart and create clear result statements from the top down for each position in the company. Review existing job descriptions as reference and redraft as Position Agreements. Meet as a management team to discuss possible questions/concerns and responses. Make announcement at a company or division meeting. Meet with employees during weekly development meetings to discuss and sign their Position Agreements. Review and revise Position Agreements periodically. Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  44. 44. Business Development Key #3: People For Guides & Additional Resources www.stateoftheowner.com
  45. 45. State of the Business Owner 2012 For additional research, guides and community: www.stateoftheowner.com Facebook.com/StateOfTheOwner @StateOfTheOwner Key #3: People For Guides & Additional Resources www.stateoftheowner.com

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