Profit by Design 111: Culture: The Untapped Potential
If you’re interested in learning how work culture can improve profitability by 756% over a ten to eleven-year period, don’t miss this exciting discourse of the first chapter of How to Hire the Best: The Entrepreneur’s Ultimate Guide to Attracting Top-Performing Team Members, Dr. Sabrina’s latest book in her How to Hire the Best series.
Stacey Seguin, a valued team member of Tap the Potential, interviews Dr. Sabrina in this peek inside the book that addresses one of the biggest hurdles that entrepreneurs face, and that’s finding the right team to support and further their business vision. Don’t miss this conversation around the Tap the Potential solution to creating a business that gives the business owner more time for what matters and more money in their bank account than they’ve ever had!
As a Tap the Potential strategist, Stacey specializes in Profit First and Pumpkin Planning and supports Tap the Potential by providing clients with guidance towards advancing their company goals and assisting them in problem-solving any business challenges they may encounter along the way.
Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.
Show Highlights:
- Dr. Sabrina discusses how she’s mindful of the work culture at Tap the Potential and shares her favorite things about team meetings.
- When there’s a high turnover rate in the business, it is a huge time and energy drain and causes us to lose money when we’re constantly having to hire and train.
- Warm bodies on the team that are tolerated are another cause of time and energy drain.
- When you have A-players on your team and teach them how to utilize and work from their strengths, the whole team becomes highly focused on keeping people in their strengths and reduces drag by shifting responsibilities around if somebody is operating outside their strengths.
- Parkinson’s Law and the Pareto principle: If you aren’t familiar with how these relate to being more effective in our businesses, Dr. Sabrina and Stacey give some insight!
- You need to understand the psychology of A-players in order to attract them to your team. Part of this involves making a culture that celebrates and supports the A-player mentality. Be cautious that your policies and procedures do not deter and repel your A-players and best clients.
- As business owners, it’s very important for us to have outside feedback when building our strong teams. Clients in the Better Business, Better Life™ get that perspective and objective feedback from the other program members who are outside the business.
- We need thinking time and time to reflect on powerful questions.
- Creating a culture of safety, security, and trust allows team members to feel comfortable with sharing their ideas.
- Dr. Sabrina covers the steps of transitioning from a present culture to a chosen culture.
- Dr. Sabrina defines the characteristics of an A-player.
- If it’s not good for the client, if it’s not good for the team member, it’s not going to be in the best interest of the company. The company exists to take care of the team members, the business owner, and the clients.
Links and Resources:
Maslow's Hierarchy of Needs Explained
Taking care of yourself is important now more than ever. Are you ready to take your life back from your business?
The FIRST STEP is taking our Assessment at:
https://www.tapthepotential.com/assessment
NEXT, meet with our Success Team Lead to debrief your results.
THEN, join our Better Business, Better Life™ program.
How to Hire the Best Toolkit
www.TapThePotential.com/Toolkit
Dr. Sabrina’s WEBSITE
Dr. Sabrina’s PODCAST - PLEASE RATE & REVIEW!
Profit by Design, a Tap the Potential production in collaboration with Small Business Consulting Group
For Resources & Tools from Sponsors - https://www.profitbydesignpodcast.com
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Are You Leading with Love or Know Another Entrepreneur Who Is Being a Gift from Their Gifts During This Time?
Please use hashtags #leadwithlove #beagift and we will be re-posting these social media posts!
Books Mentioned:
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz
No Rules Rules: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer
The Road Less Stupid by Keith J. Cunningham
The 4 Week Vacation by Dr. Sabrina Starling, Phd - Look For It Early March 2021!
Mentioned in this episode:
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We’re celebrating 20 years at Tap the Potential! For two decades, Dr. Sabrina and the Tap the Potential team have helped small business owners build highly profitable businesses—without burning out. Today, 94% of our clients achieve more time for what matters most and see more money in their bank accounts than ever before. On average, they gain 7x more free time! Want to create these results for yourself? Book a call today at www.tapthepotential.com to explore our 1:1 coaching, small group coaching, VIP days, and business growth courses.