Friday Focus #008 - Do you have a gambling problem?Aug 04, 2023
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Have you ever stopped to consider that as business owners, we are all, in fact, gamblers?
Not in the traditional sense but rather betting on people.
We constantly make bets, believing that individuals will transform into something we need them to be.
While it's true that every new hire requires training and coaching, we must acknowledge that some individuals, despite our best efforts, will never reach the level needed to propel our businesses forward.
Let's debunk a few myths surrounding strategic hiring:
Myth #1: Hiring someone with an impressive track record and vast achievements will disrupt your business and dilute what you have built.
On the contrary, bringing in capable individuals who share your values and vision can enhance and expand your business in ways you never thought possible.
If you believe you were one player away from winning a World Series. You need one more player to have the perfect lineup. Would you look to someone in the minors to fill the gap or trade for the best possible player with a proven track record?
Myth #2: Business owners often hesitate to pay top dollar for high-quality talent. Why is that? It stems from undervaluing the right person's impact on a business. We tend to be accustomed to average performers, unaware of how high performers can revolutionize a company's trajectory.
When you have a clear vision and goals for your business and understand the roles you need to fill, the right person can accelerate your progress exponentially.
It's crucial to structure their compensation and incentive package just as you would with a professional athlete.
Aligning values, defining what winning looks like, and providing a clear path for growth and success ensures a win-win situation for both parties.