Leading from Behind to Get Ahead
Leading from Behind to Get Ahead
Why is continuous learning important for long-term success in business?
One thing that still surprises me after being in this industry for so long is my high energy level. The learning curve here is exponential. Despite my extensive knowledge, there is still so much more to learn. Part of my enthusiasm stems from the desire to give back. I enjoy sharing life lessons, including my successes and failures, in hopes of guiding others to avoid the same mistakes I made.
How can business owners effectively manage risks in decision-making?
Many attribute my conservative approach to business decisions as merely managing risks effectively. It's essential to maintain a healthy ego to achieve any level of success, but it's equally crucial to keep it in check. When making decisions, I always question the motivations behind them. For example, choosing not to engage with a questionable client or a financially unstable project has paid dividends, avoiding long-term negative impacts on our business. This conservative risk management approach has repeatedly proven beneficial as I've grown older and wiser, understanding the real risks involved. In today's environment, new risks continuously emerge, making it vital to assess whether an opportunity aligns with our business's right client profile, location, and market segment. If these criteria aren't met, it's often better to step away, especially if you cannot envision navigating a worst-case scenario successfully. This discipline is crucial, particularly when the excitement of a new deal might cloud judgment.
When should business owners shift from working "in" to "on" their business?
One subtle yet crucial change business owners need to make is shifting from working "in" the business to working "on" the business. This shift involves intentional planning and setting aside time to strategize about the future, not just the immediate tasks at hand. A helpful reminder I keep is a cartoon on my wall that reads, "You can't read the label from inside the jar," illustrating the importance of stepping back to gain perspective. Effective planning, whether for the next 12 or 36 months, requires deliberate effort. You must schedule time for this critical activity, or you'll remain stuck in the day-to-day operations.
Surrounding yourself with the right people is essential. Throughout my career, I've learned the importance of assembling a team of not just good people but the right people for your team. This mix is when the magic happens. If you find yourself constantly buried in the minutiae, it's crucial to evaluate why. For those who struggle with control, learning to delegate and trust your team is necessary. Ensure that you have the best people at every level—from office staff to vendors and clients. Life is too short to work with the wrong people. Embrace this old-school lesson: surround yourself with the best people in every aspect of your life.
What lessons can business owners learn from making hiring mistakes?
Many good decisions in my career have been born out of bad ones, often resulting from policies created when things didn't go as planned. Early in my current role, our company was growing rapidly, and I made the mistake of hiring people who were not a good fit. This led not only to financial losses but also to significant personal equity loss with clients. Drawing from a personal analogy from my days playing baseball as a catcher, I learned an important lesson: I used to back up the first baseman, which made him complacent. In business, I found myself continuously covering for team shortfalls, which wasn't sustainable. It made me realize that I needed to stop just filling gaps and start addressing why these gaps existed in the first place.
During the recession, I made a desperate decision to accept a small deal that, halfway through, I regretted, realizing the effort wasn't worth the outcome. Now, I focus on ensuring we have the best people. If we can't find the right clients, subcontractors, or employees, we won't proceed. This approach is fundamental to our company culture—it's about how we treat each other and maintain the quality of life for everyone within the organization. We prioritize pulling back for the right reasons over merely expanding for expansion's sake.
What strategies help business owners build effective, diverse teams?
Build a smart room by bringing together people with diverse perspectives. Diversity in thinking is essential; without it, progress stagnates, much like rowing a boat in a circle. Our organization benefits from the talents of many individuals who bring different views to the table. We set high standards and operate not as a democracy but as a meritocracy, where excellent individuals have the opportunity to grow. It's important to discuss and gain various perspectives thoroughly. When consensus is reached and everyone agrees, that's the signal to move forward.
How can business owners measure and address team stress levels effectively?
We use many KPIs and metrics, but I wish there were a way to measure an associate's personal stress level. Personal and business lives are intertwined, especially with recent shifts like working from home. Having an "empathy gauge" would help us understand what our team members are dealing with, as everyone faces challenges, some more visible than others. Understanding their situations would not be about solving their problems but instead gaining a perspective to foster a more empathetic workplace.
*This interview has been edited and condensed for clarity.*
