The Biggest Lesson My Wife Has Taught Me In Business
Summary
- Celebrate employees who leave for new opportunities. Applaud their career moves, even if it's hard for the company.
- Creating a safe environment is key. Employees should feel they can be honest without fear of punishment.
- Encourage employees to share crazy ideas. This leads to getting the best data and most innovative ideas.
- Do not punish people for leaving. This makes space for those who might be a better fit in another role within the company.
- Give employees a chance to shift roles if they think they can do better in a different position. Offer a trial period, like 12 weeks, to test it out.
- Employees who leave on good terms feel grateful. They often send customers your way, help train successors, or even recruit for you.
- Long-term relationships with former employees can lead to future business opportunities.
Video
How To Take Action
Implementation Strategies for Small Business, Entrepreneurs, and Personal Growth
I would suggest implementing the following strategies to foster growth, innovation, and long-term relationships in your business or personal endeavors. These are low-cost, high-value actions you can take right now:
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Celebrate Departing Employees:
- When an employee leaves for a new opportunity, celebrate their career move publicly.
- Host a small farewell gathering or send a company-wide email to applaud their next step.
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Create a Safe Environment:
- Encourage honesty by making sure employees know they won't be punished for being candid.
- Hold regular, open forums where team members can share feedback and ideas without fear.
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Encourage Crazy Ideas:
- Set up 'brainstorming sessions' where every idea is welcomed, no matter how outlandish.
- Create a reward system for innovative ideas, like gift cards or public recognition.
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Don't Punish Departures:
- When someone leaves, make sure they feel appreciated for their time with your company.
- Understand that their departure creates opportunities for others who might fit better.
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Offer Role Shifts:
- Allow employees to experiment with different roles they believe they'd excel in.
- Provide a trial period, like 12 weeks, to see if the new role is a good fit. Monitor and support them during this time.
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Maintain Good Relationships with Former Employees:
- Keep in touch with former employees through LinkedIn or periodic updates.
- Leverage their new positions; often they can refer clients, help train new staff, or even become business partners.
- Long-term Networking:
- Establish a formal alumni network to stay connected with former employees.
- Organize annual meet-ups or virtual check-ins to maintain these valuable relationships.
By implementing these strategies, you'll create a more dynamic, innovative, and supportive environment that benefits everyone involved. Start small, build trust, and watch how these changes can have a sizable positive impact on your business and personal growth.
Quotes by Alex Hormozi
"Celebrate them for moving on in their career and applaud them for that move even if it hurts us"
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- Alex Hormozi *
"Create space for people who are dissatisfied or may be in the wrong role"
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- Alex Hormozi *
"People are willing to float crazy ideas to us because they don't think they're going to get punished for it"
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- Alex Hormozi *
"You might do business together and we've had every one of those incidents happen with people that have left our company"
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- Alex Hormozi *
"If it doesn't work we'll spin you back cool and then people flourish"
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- Alex Hormozi *
Full Transcript
she would applaud them on the way at the door she will celebrate them with the company I you not we do this celebrate them for moving on in their career and applaud them for that move even if it hurts us what I think that's is continue to Foster is one safe environment for people to work so they feel like they can be honest so we get the best data and we get the best ideas people are willing to float crazy ideas to us because they don't think they're going to get punished for it second because she has continued to not punish people for leaving she creates space for people who are dissatisfied or may be in the wrong role like we've had so many times we've had amazing employees who were like I just don't think I'm the best fit for this role but like I think I could do that really well and then they look at it and they're like you know what I think you could do that here's your Gap why don't you speed this up and let's look at at 12 weeks and let's give it a shot and if it doesn't work we'll spin you back cool and then people flourish and then also the person who does get Applause on the way out those people feel like they owe you one and they will send customers your way they will often times help you train up the next person they will help recruit for you and then long term if they do really well you might do business together and we've had every one of those incidents happen with people that have left our company
