For employers, founders and leaders, even if you don’t have an equity or phantom stock model in place, there is a true opportunity to motivate your team.
What would happen if everyone in a company thought about it as if it was their company? One in which they completely buy in. What type of environment would that create? How would they budget? How would they prepare? How would they execute?
What if everyone bought into the vision? What if that vision had true clarity, operations and a scorecard?
It all begins with a vision.
It is amazing how many companies don’t have this nailed. Many have visions that are essentially an extension of the P&L. In my opinion, the vision should start at the top, be clear and easy to follow and have opportunities for execution. Additionally, each person within the organization should have their own working vision for how they will accomplish two things: how to be a part of the bigger brand vision and how to drive themselves to personal success.
After the vision comes the team. Arguably this is the most important piece of the puzzle. Without giants, a vision may die.
Does a team of all-stars win? Does a team of balance win? Does a team with the right coach(es) win?
There is certainly business wisdom that suggests that in order to have the greatest team ever, it has to be made up of various components, including those who are not all-stars and those who are simply there for a job. There is a reason professional sports teams have caps (even though many have close to a blank checkbook). With a cap, you have to build enough parts under that budget. Most growing businesses work the same way.
Salaries are part of the play for the great team. Many companies play with some form of equity, too.
There are some organizations that have nailed company ownership and phantom stock. I have spoken with people from those companies. It doesn’t necessarily cure all cancerous behavior, but it does create a pause moment before someone moves onto the next best thing.
For employers, founders and leaders, even if you don’t have an equity or phantom stock model in place, there is a true opportunity to motivate your team as if they are a part of a team – meaning, this is much bigger than just another job. How do you do this? With clarity of vision, defined process and operations, rewards and core values.
Think about the Chicago Cubs winning the World Series in 2016. The players were not owners; neither was the team CEO Joe Maddon. But the collective acted like it was their company – it was their curse, and it was their chance to create the ultimate solution. They acted like it was their money because they did it with pride.
Maddon created a vision and executed against it. He held his team to the core values of that season. He had a defined process and operations – whether small ball, hustle or everyone in. There were certainly rewards. There was purpose.
As we prepare for the final stretch of the year at No Limit Agency, we are focused on nailing the Maddon approach to business: Vision > People (who buy into the core values) > Operations > Accountability > All-In Reward. If we can nail this, then in 2019, we will be prepared for a takeoff year – one in which people aren’t there simply for a job, but to instead create and be a part of something amazing.