Motivate your team by laying the foundation for an inspiring culture.
I’m going to try something here - blogging right on my linked in feed. I’m sure I’ll go down some rabbit trails and tangents, but maybe I’ll stay on point. I purchased Enviro Clean, Insurance Reconstruction Services, and Tech Design Build (Greenville Kitchens) in Q4 of 2016 from my folks. So now I’ve had 1 full year under my belt. I wanted to share some thoughts about business ownership:
I love it. I love business ownership. That simple. I love my team. I love making decisions. I love developing strategy. I love learning from successes and from mistakes. I love helping people. I love solving problems (although sometimes exhausting).
It’s stressful. There are moments and days that are hard and stressful. I have the stomach for that. I don’t often wear the stress outwardly, but internalize most of it and work out stuff in my head. Through that, I’ve learned I need not only a company leadership team I trust, but outside friends who like to “talk shop.”
There is not enough time in the day. Ever. My “to do” list grows faster than I can cross things off it. That’s ok. To own a business you have to be comfortable with no “off” button. Work comes home with you daily - even it’s just taking up mental bandwidth. But, if you love it, who cares?
There’s not enough time in the day (part 2). What personal sacrifices come with owning a business? Family time? Personal time? Hobbies? Sleep? Nutrition? Relationships? I sleep less. Damn. That is my #1 sacrifice. I eat a little worse - I’m working on it and very aware of it. (I’m drinking a little more too - damn). My kids still have my undivided attention when I’m home. I won’t sacrifice that - although I am traveling a little more now with our FLORIDA venture. I am exercising less than I want - but just put a stationary bike into my office and a rowing machine in my dining room. I’m making the time.
My wife is remarkable. She is my my #1 and I don’t treat her that way often enough - she supports the changes and challenges this past year has brought on. Thank God I have her...
Cash is king. What? We’ve all heard that - but managing cash flow is no joke. It can be crushing and is my #1 stress. We do emergency work - GET IT DONE NOW! And then often have to wait 60 days, 90 days or months and months to get paid and sometimes still have to fight over the value of the service we provided. Developing a bank of working capital will be the most freeing day to grow.
If you see opportunity - timing is never right - so F^%*ing go for it. I mean it. Find a way. I bought a business and saw opportunity to launch a Florida branch less than a year later - timing may not be perfect from a time and cash flow perspective, but sales and personnel are perfect timing.
Surround yourself with YANGS. I’m a YIN. My right hand person is my professional yang. She does the things I know I’m weak and she follows through. Or find the complimentary pieces that fill your pie. I have my strengths, I get to focus on those and grow those. I’m not concerned with building up my weaknesses but rather surrounding myself with people whose strength is my weakness.
Your team is critical. Surround yourself with people you TRUST. Hiring people with integrity and work ethic is the most important. We are all continuing to learn and do our jobs better - it’s much harder to teach working hard or honesty.
Make your vision visible and get the buy in from your team. Motivate your team by laying the foundation for an inspiring culture. Support them and build them up. Gone are the days of managing by fear or by the fist. I get my biggest reward when I am able to inspire those I work with.
So I think I’ll stop there. I didn’t expect to write a list - but a list of 10 thoughts seems like a pretty good start. More to come…maybe.