Building something meaningful is rarely something you do overnight. Most of the time it’s like Will Smith’s story of laying a brick the best way you can every single day before one day you can clearly see you’ve built an amazing wall.
Over the Past 10 years I’ve built several businesses from scratch, sold or closed all of them but one and then acquired a few more.
My journey so far has gotten me to owning one 8 figure business and several 7 figure businesses and as much as I enjoy the benefits that come with that – the best thing about it is that in the way I got to create some life changing habits.
Habits that have both helped me get to that point to begin with but had so much more to offer in other areas of my life.
By the way, I would really appreciate it if you pressed the like button so that youtube will show this video to more people who would hopefully make a decision to develop at least one of these habits for themselves.
So the first habit that is the most important one in my opinion is to always try to see things from the other person’s perspective, assuming they alway have a positive intent, at least for themselves.
When you are with clients its sales and marketing 101 to try to understand their needs and values.
But it’s also true with your suppliers and employees, so many business owners and entrepreneurs have actual resentment towards the people who work for them even if they try not to show it.
It makes everybody in the business suffer and it’s holding you away from moving forward.
Also, in my opinion if you want to succeed in business without ruining your personal and family life you must also do your best to understand various situations from the point of view of your significant other or other family members.
In my opinion the number one priority for an entrepreneur must be creating a system in which every person feels like he gets more value then he has to put in, and to achieve that you must understand what do the different people view as valuable and how they perceive their role in the business.
The second habit is taking full responsibility while letting people go things their way. If a manager wants to make a decision which i think would be a mistake 99% of the time I will let him or her do it. When it turns out to really be a mistake I take the full responsibility for it.
It doesn’t mean I do not expect my teammates to learn from their mistakes or to take responsibility for their own actions nor will I take any finger pointing or blaming as an acceptable excuse.
But even if it’s your responsibility that you messed up, it’s my responsibility because I decided to hire you or hire the person who decided to hire you and I could also potentially intervene and make sure you do not make this mistake.
This approach allows people to make mistakes and learn and grow, and when combined with the right pay module it makes key people feel ownership over their part of the business and sometimes even over the entire business.
So instead of having one person who cares about the business trying to manage dozens of people, you get more and more people who really care, and of course most managers who would get this approach directly from you would pass this to the people they work with as well.
The third habit is something I still need more practice with and its communicating everything.
Because I’m generally speaking very optimistic and I really don’t care so much about the past and most focused on the future I had an issue where I wouldn’t give feedback to people when I wasn’t happy with their results.
Another side of it was that I was so happy starting new projects and new processes that many key people often felt off the loop and that made them feel like they weren’t valued.
Im getting better at both these things but I still have a way to go.