How to Crush Your Insecurities as a Business Owner
Sep 11, 2023
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Learn how to be a strong, relational leader and not take losing clients personally. Discover what adds value to your business when preparing to sell it and how to choose the best retirement benefits for your team. Explore the importance of clear expectations, effective communication, and assertiveness in leadership. Overcome time management challenges and get tips on growing your business. Find out about the emotional impact of losing accounts and how to handle it. Lastly, explore different employee plan options for small businesses.
41:29
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Quick takeaways
Building character in a leader involves being accountable, clear in communication, and providing honest feedback for growth and improvement.
Setting clear expectations and providing frequent feedback creates a culture of accountability and helps leaders course-correct towards desired outcomes.
Deep dives
Importance of Accountability and Building Character
One of the main ideas discussed in this podcast episode is the importance of accountability and building character in a leader. The speaker emphasizes the need for leaders to be clear in their communication and to hold their team members accountable. They highlight the idea that being direct and honest with team members is actually a more relational and kind approach, as it allows individuals to improve and prevents frustrations from building up over time.
Value of Clear Expectations and Frequent Feedback
Another key point raised is the value of setting clear expectations and providing frequent feedback. The speaker suggests that leaders establish key results areas (KRAs) to define what success looks like in each role. By clearly communicating these expectations to team members from day one and providing regular feedback, leaders can create a culture of accountability and continually course-correct towards desired outcomes.
The Paradox of Being Nice vs. Being Kind
The podcast explores the paradox between being nice and being kind. The speaker shares personal experiences of avoiding confrontation and accountability under the guise of being nice, but ultimately realizing that it was unkind to not address issues or provide critical feedback. They stress the importance of lovingly telling someone the truth for their growth and improvement, as well as the overall happiness and success of the team.
Considerations for Implementing a 401(k) Program
Lastly, the discussion touches on the topic of implementing a 401(k) program for small businesses. While the specific details of the plan depend on factors like company size and goals, the speaker highlights the Simple IRA as a possible option for a 13-person company. They address concerns about employee turnover and suggest consulting with a financial professional to navigate the administrative aspects and explore alternatives that suit the company's unique needs.
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