For Guides & Additional Resources www.stateoftheowner.com Key #3: People 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
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For Guides & Additional Resources
www.stateoftheowner.com
Key #3: People
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
For Guides & Additional Resources
www.stateoftheowner.com
Key #3: People Key #3: People
Presenters
Cameron Madill Tricia Huebner
President
Synotac VP, Business Development
EMyth
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Key #3: People Key #3: People
Webinar Questions & Comments
Twitter Hashtag: #sobo2012
GoToWebinar Chat Window
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Key #3: People Key #3: People
Origins and Motivation of SOBO
What are the success factors helping
small and midsize businesses
succeed in 2012?
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Key #3: People Key #3: People
The Planner
o Believes they control their
destiny
o Has a coherent vision of the
future
o Regularly tracks business
metrics
o Has concrete plans to move
towards their business
vision
o Are innovative with
technology
The Pessimist
o Believes the future is dictated
by external events beyond
their control
o Does not have a vision for
their company in the future
o Has few or no formal plans for
making progress towards this
vision
o Does not regularly consult
metrics to track business
progress
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Key #3: People Key #3: People
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
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Key #3: People Key #3: People
Fundamentals People Accelerators
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Key #3: People Key #3: People
KEY #3
People
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Key #3: People Key #3: People
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
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Key #3: People
If your employees are not
thinking and acting like
owners, they are thinking
and acting like renters.
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Key #3: People Key #3: People
Ownership
KEY #1 - FUNDAMENTALS Key #3: People
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Key #3: People Key #3: People
Collective
Culture
Individual
Action
Balance
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Key #3: People Key #3: People
A Culture of Ownership
KEY #1 - FUNDAMENTALS Key #3: People
You gain…
Faster Growth
Innovation at every level
Adaptability to change
Aliveness
Risk-taking
Being able to “let go”
Must be willing to…
Start with your own Primary Aim
Trust others
Recruit/hire for values first
Delegate both responsibility and
authority
Give up control/micromanagement
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Key #3: People Key #3: People
EMyth Foundations of Ownership:
Self Interest
Caring
Choice
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Key #3: People Key #3: People
Owners and Renters
• Self Interest vs. Self Preservation
• Caring vs. Compliant
• Choice vs. Victimhood
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Key #3: People Key #3: People
Passion & Meaning (Self Interest)
KEY #1 - FUNDAMENTALS Key #3: People
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Key #3: People
Generations in the Workplace*
Generation
Work
Perspective
Interactive
Style
Communication
Style
Attitude About
Authority
Veterans
(the silent
generation)
1922- 1945
Work First! Individual Formal Accepting and
trusting
Baby Boomers
1946-1964
Live to Work! Team Player Semi-formal Accept the rules
created by
Veterans
Generation X
(1965-1980)
Work to Live! Entrepreneur Not serious,
irreverent
Openly
questions
authority
Generation Y
(1981-2000)
Live, then Work. Participative Informal
Eye-catching
Fun
Okay with
authority that
earns respect
* Source: Neil How and William Strauss, Generations:
The History of America’s Future. 1584 to 2069
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Key #3: People
Your Primary Aim
A brief statement that
describes your highest values
and expresses how your want
to live your life.
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Key #3: People
Primary Aim Process
Step1. 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
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Key #3: People Key #3: People
Ownership
Self Interest = Innovation
Caring = Commitment
Choice = Accountability
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Key #3: People Key #3: People
Engagement (Caring)
KEY #1 - FUNDAMENTALS Key #3: People
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Key #3: People
In a recent Gallup survey it
was reported that 70% of
workers are underperforming
or actively undermining the
work of their company.
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Key #3: People
Engagement Drivers:
1. Recognition
2. Professional Growth and Development
3. Clear Expectations
4. Trust and Autonomy
5. Fair Compensation
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Key #3: People Key #3: People
People Development
Vision: A clearly written Strategic Objective (vision document)
describing a picture of the company that has been shared with all.