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Creating a Company with Passion

 

Creating a Company with Passion

As an entrepreneur, your determination to succeed is second to none. Without this passion and drive, you would have never taken on the challenges of owning a small business. But when it comes to getting your team to exhibit the same type of passion you possess, it can sometimes feel like an uphill battle.

On an episode of our radio show The Second Stage, we discussed this subject at length with someone who is an expert at creating passionate organizations. Mike Goldman, a nationally recognized speaker and respected author, joined us for this conversation and to offer tips from his book Performance Breakthrough: The Four Secrets of Passionate Organizations.

In the book, Mr. Goldman reveals four secrets that will create a sense of drive inside your small business, and as we say at Evolution Capital Partners, give each and every member of your organization a Passion for Possibilities!

Today we’ll touch upon these four secrets, but we also encourage you to read the book itself to learn about the transformation your business can undergo by applying these principles.

1. Acceptance

Being a true leader means accepting your limitations as well as your strengths. This also applies to your employees, who sometimes have talents that enable them to excel in specific areas, and be limited in others.

When you come to accept that everyone who works in your organization is different in some capacity, it gives you a lot more clarity when making hiring decisions, and offers greater insight into the current capabilities of your business as a whole. Once you see the talents you already possess, and those you’d like to add to your team in the future, you’ll have a better sense of what you need to succeed.

2. Leverage

This brings us to our next point: leverage. Now that you’ve assessed and accepted your small business’ current condition, it’s time to begin leveraging these assets in the best way possible. This doesn’t mean cleaning house or starting over with new staff necessarily. As we said above, it often comes down to making certain you have the right people in the right role and they have the skillset to continue that area’s growth.

As Mr. Goldman pointed out in our discussion:

You’ve got to start with the folks you have and…do a talent assessment. You’ve got to look at your folks and say, “I’ve got to figure out who are my A players, my B players and my C players – and for my A players, I’ve got to re-recruit them, I’ve got to make sure they’re thrilled to be here and I’m leveraging their skills.

3. Impact

Nothing creates more passion in an individual than having a position that utilizes a person’s core strengths and provides them with a boundary-free environment to explore these talents further. What often happens when a company begins the search for somebody to fill a particular role, standard job descriptions are sent out that look for well-rounded individuals and top performers.

While this might bring in some star talent to your team, it can also result in having too many employees with the same areas of expertise. If you’ve truly made a thorough assessment of what your organization’s needs are, and also what kinds of employee talents you already possess in-house, then sometimes the best way to pitch an open position (and make hiring decisions) is to look for that single, unique skill your small business is lacking – and then capitalize on it when they accept the offer.

4. Celebration

You often hear about rewarding team members during the holidays, yet there are often reasons to celebrate throughout the year as well. In his book, Mr. Goldman suggests setting up a theme or contest each quarter to not only motivate employees towards a specific goal, but to also give them an incentives they can look forward to when they reach it.

Among other ideas Mr. Goldman offers is the “Above and Beyond the Call of Duty (ABCD) Award),” which goes to those who spend a little extra time helping out a client, or giving team members assistance outside of their normal responsibilities.

We’d like to know, have any of these ideas already been implemented in your organization? And if so, how have they impacted your small business and created a more passionate environment to work in? Leave your comments below – and remember to always have a Passion for Possibilities!

Posted by: Jeffrey Kadlic A co-founder and managing partner at Evolution, Jeffrey has spent the past 15 years as an investor and private equity professional with a true passion for working with dynamic small businesses. @kadlic

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