Attracting And Retaining Entrepreneurs Who Work 12 Hour Days
Most business owners work harder and longer than everyone else.
And they’re proud about it. They wear it like a badge of honor.
But the reality is…
If you’re working harder than everyone else on your team…You likely have 1 of 3 problems:
#1: You hired the wrong people.
#2: You don’t have a clear mission (or your only mission is making money).
#3: You have the wrong compensation model.
If you want to attract and retain A-player entrepreneurs who happily work 12+ hour days…
You have to follow a few principles.
#1: You cannot tolerate mediocrity at any level of the company.
If you have any “normal” people on your team, they will fall to the lowest level of work that you accept.
But A-players are repulsed (and repelled) by B-players who do just enough to get by.
Think about yourself, there’s a good chance you’re an A-player...
And it probably drives you nuts that people on your team accept anything less than excellent in any aspect of their work.
You can’t hire an A-player and expect them to happily talk to mediocre people all day.
Your A-player will go nuts just cleaning up the messes of the mediocre people around them.
#2: You have to have a mission that’s bigger than you and your bank account.
Now, mediocrity is irrelevant if your only goal is to make money.
It’s easy to make money..
1,700 new millionaires are made every single day.
If your only goal is to make money, you can build a team of average people who can follow SOPs and get yourself to a happy $4-6million a year.
But if you want to make a real impact…
You need to have a clearly defined mission that goes beyond you and your bank account.
#3: You have to reward the right behaviors.
Lastly, you need to compensate properly.
If you hire someone hoping they’ll get you from $5m to $10m/year.
Then you need clear benchmarks and KPI that reward the right behaviors.
You can’t expect to pay someone $20k per month to make you an extra $500k per month.
Especially in 2020.
Today, you have the opportunity to net 20-50% at the $10m/year level.
You just need to have the right automations, systems, and processes in place.
If you need help with any of this, check out Operation 22 Elite.
I like helping people:)
3 年Kathryn Trabucco Chris Ratcliffe