Unlock The Profits In Your People . . .
December 23, 2007
As the leader of a business it is your job to organize, support, encourage, inspire, and discipline your team. Unlocking the profit potential of your team-members depends on your ability to plan and manage their success.
One of the best models for managing team success is the Coaching/Mentorship Model. The art comes in your ability to function as a co-equal member of the team without degrading your authority over it. Yes, you can be friends with your people — it's okay to go shoot a game of pool with the staff and drink a few beers — but you always have to maintain the respect of your people as their leader.
Perhaps the best way, the only way, to virtually assure the respect of your team is to show them that your most important function is to give them what they need to succeed. Think about it — what is your ultimate business goal? If you are smart, your goal is independence.
Your ultimate goal as an entrepreneur is to build and secure stable, independent income streams. Since you don't want to be spending all of your time managing your businesses yourself, you need a team. Since your team-members are the people that will be operating your businesses, doesn't it make sense for you to do everything in your power to ensure that each and every one of them has what they need to succeed massively?
Coaching and mentoring are the vehicles through which you can bond and communicate with your team so that you will know what they need to succeed. It is how your people will know that you are there for them. Through coaching and mentoring you can free yourself from the operations side of your businesses and concentrate on building relationships with people and facilitating their success. By facilitating your team-members' success you are doing the highest and best work to ensure your own success.
Watch this classic video staring Jack Nicklaus, Herb Kelleher, and Lenny Wilkins as they discuss the importance of coaching in business. Perhaps the best way for you to learn how to coach others is to experience professional business coaching for yourself.
John Michailidis is a recognized business consultant, attorney, success coach, and author of the WealthLoopTM Series of books and training materials for aspiring entrepreneurs and investors. Please use the contact form to get in touch with him regarding personal coaching and business consulting. Download the FREE, 40-page, .pdf "Wealth Creation Manual."
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