How I Manage A 100M Team 3 Part Formula

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How I Manage A $100M Team (3 Part Formula)

Summary

  • When businesses lack results, often there's a deficit in accountability, which I define as the glue between an action and a result in your organization.
  • Accountability demands having tough conversations, providing consistent feedback, and holding your team to the standard you establish.
  • If team members aren't performing satisfactorily, it’s crucial to evaluate whether they've been given proper accountability before considering dismissal.
  • I recommend the ‘Accountability Formula’: Expectations + Measurement x Feedback, emphasizing that feedback is a multiplier that can significantly boost accountability in the team.
  • Set clear organizational expectations including the mission (the company's goals), values (how to behave to meet those goals), and a brand promise (how to deliver to the customer).
  • In alignment with these, define role expectations, ensuring team members understand precisely what is required of them in their specific positions.
  • Utilize a dual metric system for measurements, employing both push metrics (e.g., sales closed) and pull metrics (e.g., retention rate), to attain a balanced evaluation of performance.
  • Encourage proactive collaboration among employees across different departments to affect numbers positively, which fosters shared responsibility for business growth.
  • Regularly update job descriptions to reflect true expectations and outline key performance indicators (KPIs) that each role is measured against.
  • Provide abundant feedback to demonstrate how close an individual is to meeting the set expectations, thus reinforcing accountability.
  • Normalize feedback in the organization, using tools like weekly one-on-ones and messaging platforms for timely communication with team members.
  • Recognize that it's routine tasks, like setting expectations and offering feedback, that drive a company forward and help overcome performance hurdles.

Video

How To Take Action

I would suggest implementing an 'Accountability Formula' in your business to improve results. Start with setting clear organizational expectations, like the company's mission, values, and brand promise. Make sure these are communicated so everyone knows what your goals are.

A good way of doing this is to also define role expectations. Each team member should understand exactly what's required of them. Write down job descriptions that include these role-specific expectations. This helps everyone be on the same page about what "good" looks like in their job.

Next, use a dual metric system for measurement. You want two kinds of metrics: 'push' metrics (like sales made) and 'pull' metrics (like customer retention rates). These help you see if people are not only doing their job but doing it well.

Encourage everyone in your team to work with others from different departments. This way, they can help each other meet their goals. Keep job descriptions and the key performance indicators (KPIs) they'll be measured against updated regularly.

Provide lots of feedback to show how close team members are to meeting expectations. Schedule weekly one-on-ones and use messaging platforms for quick communication. Remember, feedback is a multiplier for accountability – it can really boost how your team performs.

Remember, it's the routine things, like setting expectations and giving feedback, that will help your company grow and overcome hurdles. If you're not getting the results you want, check if you're missing any piece of the accountability puzzle. Fix that, and you'll be on your way to leading an effective team.

Quotes by Leila Hormozi

"Accountability is essentially the glue between an action and a result"

– Leila Hormozi

"More marketing, more sales, that's not what you need more of, you need more accountability"

– Leila Hormozi

"Feedback is an important piece because the only piece of this that can be Amplified"

– Leila Hormozi

"Expectation so telling people how something should be done plus a measurement how are we going to measure if the expectation is met times feedback"

– Leila Hormozi

"The reality is that nobody has complete control over any number in the business"

– Leila Hormozi

Full Transcript

dollar teams most people come to me they're like Layla can you tell me like the systems the processes that makes this all work and people are usually asking that because there's some sort of pain it's an art and a science if you feel like you can't get the results you want your business and you feel like things are kind of painful if you feel like you're needed for most things I want to share with you my formula behind how I actually get things done with the team so the formula I want to share with you is called the accountability formula and I'm going to get to that in a second but what I first want to explain is how I know a company's lacking accountability if you have people in your organization and they have jobs and you have assigned them things to do but you're not getting the result you lack accountability accountability is essentially the glue between an action and a result and so if you feel that way and you feel like you're not getting the results you want your business it's probably because you are lacking that accountability more marketing more sales that's how you need more of you need more accountability and the reason people don't like to do that is because it requires hard conversations being someone that's constantly encouraging your team coaching your team giving your team feedback like I am the reason why my team does or does not execute am I holding them accountable because if I'm not people are always going to fall to the standard I set and if the standardized set is I don't hold people accountable then why would they be held accountable they wouldn't we in a portfolio company that came to us and they were super successful in terms of Revenue but the operator of that business basically came and he was like Layla I feel like nobody is getting anything done this whole business is thrown off my brain and this one other person's brain which was the co-founder every time he brought me an issue with a co-worker or an employee he basically pointed to that person was like they're not doing their job I should probably fire them I think before you fire them we should walk through this framework to understand if you've done everything properly to hold people accountable that particular operator has just implemented having accountability in the team and his team has brought their revenue up by almost 30 percent you know people sitting in your company but they're not actually doing the job that you're paying them to do because you lack accountability they're not going to drive the results for the company and the company's not going to grow so the formula for accountability expectations plus measurement times feedback expectation so telling people how something should be done plus a measurement how are we going to measure if the expectation is met times feedback letting them know how they could better meet the expectation or that measurement next time and so feedback is an important piece because the only piece of this that can be Amplified and so I Want to Break these down one by one so you can look at your company and say what am I missing right now and then how can I fix it expectations are tell me what good looks like and I could get fancy with it but that's really what it means if you bring someone into the team and you put them in a role and you give them a job description that job description at a different company means something completely different and also that boss that they had in another company wants something completely different than you want and so you have to reset expectations for them it doesn't matter how experienced this person is maybe they're older than you they have more experience than you it doesn't matter what do you think good looks like in the role how do we set expectations there's really two levels of expectations that we want to set there's organizational expectations which then shape the role expectations organizational level expectations you've got the mission or the vision the value You've Got a Brand promise what those all Encompass are the expectations of the business those are expectations that you as the founder should be setting for the whole company the mission is basically the expectation of the company what does good look like for the company the values are the expectation of how we will behave in order to meet that mission and then a brand of Promise is taking the internal pieces of the company and facing them externally the customers now know what good looks like Geico it's like you know in 15 minutes or less or you know your car insurance back to you I don't even remember what it was that's an expectation that now they're giving as a brand promise for that customer and so I want you to think about your organization do you have a clear mission do you know what good looks like for the whole company do you have clear values does everyone understand what good looks like in terms of how we behave to reach that mission and then the brand promise is the same as the values except for it's in terms of how we deliver to the customer you can deliver to the customer fast you can deliver good the question is which one is fit for this company so if you have those organizational expectations then it's really easy to go and look at role expectations the expectations you have a singular role are always going to stem from the Department or from the company what does good look like in customer service for a company where fast is the priority say like McDonald's good looks like we get them their hamburgers in two minutes or less whereas if you look at Disney they might say that good looks like we always exceed the expectation of the customers it might be quality that's what a role expectation looks like on an Enterprise sales team it might be that that sale is going to take five to 11 months to close the deal and the whole point of the sale is to help someone make a decision it's not transaction based there's no speed and they're not measuring timelines what they're measuring is the experience of the person going through the process and then maybe the deal size that you're able to land say a B2B SAS company what they're measuring is how fast what's your time to close because for them speed is more important than quality because they're not servicing an Enterprise customer who's paying 250 000 a year they're servicing someone who's paying maybe two to three thousand dollars a year if you're saying thinking of what does good look like well if you take someone who's a sales rep at an Enterprise company and you put them in a transactional company for a small SMB do you think they're going to succeed probably not if they still have the habits of serving Enterprise they're probably not going to be meeting your expectations and so you have to understand that that person always needs context and so the best way if you feel like right now you're listening to this and you're like Layla I don't think I have good role expectations within my company that's totally fine and it's super normal a job description is essentially a third-party agreement it is what you look at and your employee look at and then you look at it and is agreed upon terms of what is expected by them and so if you think about it more like that than you think about it like as this piece of paper that you have to have to get somebody to join your company you're constantly updating that think about how many times you would update a job description if it wasn't a job description it was a set of expectations for somebody in the role I think that often people think job descriptions aren't important because they don't understand what they're for it's so that at the end of a quarter I can go over your job description with you and say have you met the expectations outlined here and if you think about it like that you're going to write them a lot differently so the next piece of the equation is measurement how do we measure what good looks like what numbers tell me this is good typically with any role you want a minimum of two ways to measure so a good way to frame this is you have a push metric and a pull metric onboarding and activation and then churn sales and then refunds or chargebacks there's always two measures the same goes for a roll so if you think about someone say you have a sales rep that's doing upsells the first measure might be the number of sales closed so maybe like percentage close rate the second measure that you're going to base their performance off of might be something like retention rate of client Soul because what you have to understand is that the way that a client is sold is going to be determine how long they're going to stay with the company I would say it's good to incentivize of how many sales they make as long as those clients stay and so a lot of people like to say well Layla they don't have a complete control over this number the reality is that nobody has complete control over any number in the business but what they need to learn how to do is to be a teammate that cross collaborates with other departments so they can get other people on board with hitting those numbers that holistically grow the business not just their one role or their commission check so if you're looking how you can tactically Implement measurement into a role what I like to do is I like to on their job description at the bottom have their kpis so essentially it's saying what results are you responsible for what kpis are you measured upon in order to meet my expectations that have been outlined in this role realistically today if you feel like you don't have accountability in your company you could redo their job description with all the expectations you have of that role and then redo their kpis make sure you have one push and one pull and you're already halfway there the third piece to the equation and the last piece and arguably the most important piece is feedback you always need expectations you need measurement but more expectations and more measurement isn't going to do much incrementally for the amount of accountability you have with that role but feedback will because the more feedback you give someone the more accountable you are holding them you can almost never have too much of this feedback because feedback if you look at the definition when it comes to accountability again we're gonna get stupid simple here it's how far or close are you too good that's it so if you've got a scale of one to ten in terms of accountability you'd be like hey Sally I just want to let you know in terms of accountability in terms of expectation in this role I feel like you're around like 8.5 right now and here's what you could do to get to a tent so you're constantly telling people where they're sitting in their role if someone's doing really well we don't say anything because we're not thinking about it because they're not a problem but on the other side if someone isn't doing really well we also tend not to say anything because we're avoiding a problem oftentimes employees don't know the difference they don't know why you're not talking to them so you need to be the one that expresses that narrative and tells them why well where do I get feedback honestly you can get feedback everywhere I think the best utilization is weekly one-on-ones having one-on-ones with people that's the opportunity that you have to tell them this is how good you're doing what I like to do is I like to let people run the whole one-on-one and in the last few minutes because I like to let them own that time I get to give them the feedback another way you can do this is honestly if you have slack or you have click or you have messenger or something like that is you can just quick shoot them a message hey you did fantastic on this hey I love this but if you could do this differently next time that would be awesome if you can normalize feedback in your company they're gonna have a much higher amount of accountability if you're not getting the results you want which piece are you missing if you can put all those things together that's how you can run a really effective team it's the boring stuff that's going to move you forward and that's often why people aren't able to reach their goals people ask them all time they're like Layla why can't I get to 10 or 15 million like you have no accountability

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