Page 3 - INSIDE ACCESS JANUARY-2021 3RD EDITION

FOOD FOR THOUGHT Leadership lessons from
Millionaire Business Owners
Write 'thank-you' notes
Harvey Mackay, founder of the MackayMitchell Envelope Company, says that, “The cost of praising someone is nil -- but every psychological study shows the payoff is huge. Employees want to be seen as competent, hardworking members of the team. You want satisfied, motivated and productive staff members. What better motivator than thanking employees for their contributions to the company's success?”
Make sure, however, that you're sincere, specific, share publicly, and keep the praise on-going.
They don't tolerate poor performance
“Anyone running an organization understands how important talent is,” says Duncan Maru from Possible. “But many early-stage social enterprises are impatient, they cut corners on hiring, or don't transition people out quickly enough when things are not working. You need to be aggressive and brutally honest about your talent pool.”
They hold themselves accountable
Accountability, according to Michael Hyatt, “means that you accept responsibility for the outcomes expected of you -- both good and bad. You don't blame others. And you don't blame the external environment. There are always things you could have done, or still can do, to change the outcome.”
“Until you take responsibility, you are a victim. And being a victim is the exact opposite of being a leader.” Hyatt adds, “Victims are passive. They are acted upon. Leaders are active. They take initiative to influence the outcome.”
They challenge the status quo.
“Internally, the impact of the status quo is a stagnant culture that pushes away top performers,” writes Matt Wagner, Vice President of Strategy at Client Focus. “Your best employees are driven by the need to do something great. When they run into obstacles that don't make any sense to them, they start thinking about greener pastures. Of course, the opposite is true of your bureaucrats and your go-along-to-get-along employees. They hope to milk the status quo for as long as possible. They hate change.”
Contributed by
Oye Jolaoso
PAGE 3 INSIDE ACCESS | JANUARY 2021 3RD EDITION