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Stefan Kazakis on 25 November 2017

Our last M500 event for 2017 was held this week and what a buzz it was with over 50 business owners in attendance.

I started the morning by asking the question “where are you on the ownership ladder”?  As business owners we all start out as the Operator, progressing to Manager, Owner and then Investor.  As the business grows, you move up the ladder.  But how do you do this?  You need to build an A grade team.

What does it take to build an A grade team?  It's not what you might think.  I shared the following information which highlights the reasons why people work on a team to help answer that question.

It should be noted that this study has been repeated too often to discount. Managers and Employees were asked "why are your people working for you"? Managers felt that wages and job security were the most important factors in an employee’s satisfaction, while employees felt that a full appreciation of their work and feeling “in” on things were the most important factors.

FACTORS     

MANAGERS

EMPLOYEES

Full appreciation for work done

7

1

Feeling “in” on things

9

2

Help on personal problems

8

3

Job security

2

4

Good wages   

1

5

Interesting work

4

6

Promotion/growth/opportunities

3

7

Personal loyalty to workers

5

8

Tactful disciplining

6

9

Sources:  Foreman Facts, Labor Relations Institute of NY (1946); Lawrence Lindahl, Personnel Magazine (1949). Repeated with similar results by: Ken Kovach (1980); Valerie Wilson, Achievers International (1988); Bob Nelson, Blanchard Training & Development (1991); Sheryl & Don Grimme, GHR Training Solutions (1997- 2001). 

Very interesting isn’t it!

Malcolm Chong of Employsure shared some sound advice for those building successful teams, highlighting that the fostering of great cultural values and investing in training and mentoring ensures that every hire you make is given every chance to succeed.

Brothers Jim and Peter Griffin of Chadoak shared their journey of over 40 years of building an awesome business in Melbourne, explaining why they have embraced a leadership program with Business Benchmark Group and how this has enabled the building of team leaders to run 30 – 40 projects at one time from beginning to end. 

A great way to end the 2017 season for M500.  As a team we are now putting together our plans for 2018 – elevating this event another notch!

Power to you this week.

Stefan

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