Tending Your Turf

In developing strategies for millionaire success, there are crucial truths I couldn’t say enough: start with the end in mind; create a business to sell it, not run it indefinitely. Create systems that can be imitated and duplicated. Increase its value and worth. Sell high!
As redundant as it seems, those words never get tired to me. It’s part of my gospel.  I’m talking about creating a business with the full thought, knowledge and intention that you won’t be running it one day.
How powerful is that intention? It’s the difference between being a poor business owner who gets by and a rich business owner who isn’t working anymore. He or she is doing exactly what he or she wants and intends to do.
Knowing your intention to sell your business will determine who you’re bringing in on your team and in what capacity you’re bringing them on. In order to systemize as well as grow value and worth, you have to have people who are going to help you achieve that effectively.
One of the most important areas to focus on is building a team that you trust, a team that is reliable, and will be held accountable for their performance.
To increase accountability and get the results you need, you have to define your role as leader. It’s your turf and your responsibility. One of your responsibilities is to create winning situations for your team, where winning is defined as meeting the business’ top priorities toward profit making.  Once these priorities are identified they should be clear, measurable and achievable if not easy.
To help your team win, you have to remove the obstacles that stand in their way. Have each team member identify three things they need to accomplish, have each set a goal and review. These suggestions may work or may not, but give the respect and practicality of seeing the plan from their point of view. Finally, reward results. Whatever stake you have in profit, make that stake relative to their performance and results.
But remember, one way or another you’ll ultimately be held just as accountable for your decisions and commitment as should your team, and this accountability will show in one simple result—can that business run without you, and can you sell it for gobs of money?
Here a few quick tips on how to build a strong organization and system to facilitate smoother operations, growth, success and win-win scenarios for you and your team:
Write down your top three objectives and how to measure them.
Write down the three most important ways for you to improve your leadership abilities.
Who needs to delegate better? How can you get him or her to do that?
Finally, here’s one last point on the importance of choosing a good team to grow the value and worth of the company. The more exclusive products or service you offer that no one else in your market has or can get, the more your company is worth! This means higher quality candidates, but as we saw before—more money means more energy, hence more or higher quality people—it depends on how far you want to go.
Now it’s your turn! What about your Millionaire Mind community? Do you have any quick, simple tips or suggestions on how to spot great potential team members, what to look for, signals that tell you to steer clear? Leadership suggestions? Share them below.
iStock_000004633733XSmall Tree

In developing strategies for millionaire success, there are crucial truths I couldn’t say enough: start with the end in mind; create a business to sell it, not run it indefinitely. Create systems that can be imitated and duplicated. Increase its value and worth. Sell high!

As redundant as it seems, those words never get tired to me. It’s part of my gospel.  I’m talking about creating a business with the full thought, knowledge and intention that you won’t be running it one day.How powerful is that intention? It’s the difference between being a poor business owner who gets by and a rich business owner who isn’t working anymore. He or she is doing exactly what he or she wants and intends to do.

Knowing your intention to sell your business will determine who you’re bringing in on your team and in what capacity you’re bringing them on. In order to systemize as well as grow value and worth, you have to have people who are going to help you achieve that effectively.

One of the most important areas to focus on is building a team that you trust, a team that is reliable, and will be held accountable for their performance.

To increase accountability and get the results you need, you have to define your role as leader. It’s your turf and your responsibility. One of your responsibilities is to create winning situations for your team, where winning is defined as meeting the business’ top priorities toward profit making.  Once these priorities are identified they should be clear, measurable and achievable if not easy.

To help your team win, you have to remove the obstacles that stand in their way. Have each team member identify three things they need to accomplish, have each set a goal and review. These suggestions may work or may not, but give the respect and practicality of seeing the plan from their point of view. Finally, reward results. Whatever stake you have in profit, make that stake relative to their performance and results.

But remember, one way or another you’ll ultimately be held just as accountable for your decisions and commitment as should your team, and this accountability will show in one simple result—can that business run without you, and can you sell it for gobs of money?

Here a few quick tips on how to build a strong organization and system to facilitate smoother operations, growth, success and win-win scenarios for you and your team:

1. Write down your top three objectives and how to measure them.

2. Write down the three most important ways for you to improve your leadership abilities.

3. Who needs to delegate better? How can you get him or her to do that?

Finally, here’s one last point on the importance of choosing a good team to grow the value and worth of the company. The more exclusive products or service you offer that no one else in your market has or can get, the more your company is worth! This means higher quality candidates, but as we saw before—more money means more energy, hence more or higher quality people—it depends on how far you want to go.

Now it’s your turn! What about your Millionaire Mind community? Do you have any quick, simple tips or suggestions on how to spot great potential team members, what to look for, signals that tell you to steer clear? Leadership suggestions? Share them below.