3 Business Takeaways You Can't Get Anywhere Else

In today's information age, you can read a blog, watch a YouTube video or listen to a podcast on just about any business topic you can think of.?

Call me old fashioned, but I think that practice leaves out a key component -?

Real world experience and application.?

Just about any YouTuber can tell you the 10 ways to grow your business.?

But have they actually run a business? One that's similar to the size of yours? In your market??

That's why I hosted an event last August through We Run On EOS. Attendees got to hear from a panel of NY-area business executives who are experts in their field.?

The topic was Right People, Right Seats - an EOS (Entrepreneurial Operating System) concept. And during the event, the panel shared takeaways and personal experience that I hadn't even heard in the thousands of hours I've spent with businesses as a Certified EOS Implementer?.?

I'll do my best to share the overall concepts that our panelists shared in much greater detail at the live event.?

And before I forget - I'd like to invite you to our next event, Elevate 2024: How to Grow and Scale Your Business to New Heights. It's happening May 21st at 6pm here in New York City at the Wells Fargo Connections Center (150 E 42nd St).

>> Go Here to Register?

Now, on to those 3 priceless takeaways...?

1.) Team Health = Team Wealth

Too often in business, Team Health is an afterthought.

Producing revenue and hitting benchmarks takes precedence before everything else.

When really, your team will perform at its highest once you have done your job as a business leader of creating a healthy working environment for your employees.

And this isn't just about giving them a gym membership.

It's about making sure that team members have the resources and the quality of relationships that they need to operate most efficiently.

Because at the end of the day, many Right Person/Right Seat issues can actually be traced back to a lack of team health.

So when you feel like you don't have the right person to get the job done, it's important to first ask yourself - "Is this person actually underperforming due to a lack of Team Health?"

These days, with the cost of hiring an individual, Team Health can be a lot less expensive to fix than hiring a new team member. Then, that new hire may not succeed either, if you don't fix the Team Health issue. And the costly cycle continues.

So, Team Health = Team Wealth.

2.) How to Have the Conversation with Someone Who's Not the Right Fit

There are those times that someone is just not "The Right Person in the Right Seat."

Sometimes they were never the right hire to begin with - or occasionally, the needs of the company and the department have outgrown that individual's skills.

In any case, this is never an easy conversation to have.

It's tempting to deliver this news in a sugar-coated way. But this isn't doing anyone any favors. By not addressing the issue, you're not allowing:

1.) The wrong person the opportunity to correct any behaviors that may be causing the issue;

2.) The wrong person to see that this just wasn't the right position for you and that they could consider a different type of position next;

3.) Your organization the ability to address the elephants in the room and fix any issues that may have contributed to any discord.

3.) The Long-Term Impact of NOT Having the Right Person in the Right Seat

Ultimately, at our event, there were some situations shared where having the wrong person in the wrong seat resulted in some devastating outcomes.

Without getting too specific, having the wrong person in the wrong seat at the leadership level within your company can create such negative outcomes that you could find yourself laying off multiple people when you could have just removed the one person at the beginning.

Additional long-term effects include taking on too much yourself to pick up the slack of a leadership member who isn't doing their part. This is the complete opposite of what EOS stands for. We want everyone doing their part, rowing in the same direction to accomplish the company vision.

Further, employees who are reporting to a wrong person in a wrong seat are often suffering the effects as well. They may be taking on extra workload and feel unsupported.

This is going to result in higher employee satisfaction, lower levels of production, and ultimately higher employee turnover. All very costly situations in today's marketplace.

Get Ahead of the Curve

To sum it up, the greatest takeaway from our August event was that you have to consistently check in and evaluate whether your company has the Right People in the Right Seats - even at the leadership level.

Knowing what to look for, and how to handle any related issues, can ensure that your company maintains traction when these situations need to be addressed.

A big thank you goes to Chris Beer with Wizard of Ops, Fran Biderman-Gross with Advantages, Alice Chin with Your Other Half, Nelson Tepfer with ProCFO Partners, and Raffi Yardemian with Sales Xceleration for participating in our last panel.

If you are a business owner, leader, visionary or integrator - we'd love for you to join us at our next event May 21 at 6pm, Elevate 2024: How to Grown and Scale Your Business to New Heights. You'll hear real-world insights on what shifts you can make to break through to your next revenue level.

Registration is free and includes food and drinks, compliments of Presenting Sponsor WorkBetterNow. Tickets are limited.

>> Sign Up Here to Join Us