The Culture Conundrum for Entrepreneurs

I often hear entrepreneurs share their frustrations around hiring talent, “We are struggling to find the right people” or “This team member is costing us more than the value they are bringing.” Now, these may be valid comments, but what if we were to flip this discussion on its head? What if it had nothing to do with the individual team member but actually the articulation of your business’s mission, vision, and values? 

The environment we are creating, as leaders, for our teams holds an integral part of our success.

You may be muttering, “Matt, I have enough to worry about – this certainly does not have any sort of financial or tangible impact on my business. Isn’t this wishy-washy?”

I hate to break it to you, but we are in the business of wishy-washy. We are all serving people and trying to bring them value through our services/products, which means there are feelings and emotions involved in interactions. If we want to attract great talent, we need to serve our clients AND our teams well.

Let me explain why I believe that a focus on your culture and values, a very intangible investment, can bring very tangible value.

Most of us are motivated through more than just financial compensation. We are motivated by a sense of purpose and the impact we can have on others. If we can successfully communicate what that impact is to our teams, our future hires, and even our clients, we will, firstly, attract the right people and ensure greater loyalty through this shared vision.

Let me give you a quick example: Jake is really great at his work, an asset to any business, and wants to have a meaningful impact through this work.

One of Jake’s core values is family.

Jake is approached by two businesses – one which has articulated that teamwork is central to their business and that Jake should expect this to be a core part of his time with them. The other company is focused on financial success did not articulate what is important to them personally but instead concentrated on the targets Jake would be expected to hit.

Which business do you think Jake will end up favoring?

The company where he feels his personal values are most aligned. (This could be business number two if one of his core values is financial performance or competition). The outcome will be that Jake is willing to work harder invest more in this vision when he feels a sense of affinity to the cause.

The point I am trying to make is that don’t discount the impact that strong leadership and vision can have on your team. We can often train and teach people to be efficient in their roles, but it is much more difficult to get buy-in when people do not feel that they are having an impact through what they do. 

In this digital world that we are living in, it is becoming increasingly important to build meaningful connections and culture within your team. People want to feel like what they do matters. We can do this by demonstrating a clear vision culture (how we do things around here) and working hard to create a meaningful, inclusive environment. My encouragement:

Stop looking for top talent. Rather, create an environment that attracts it. 

SHARE:

The Clever Writing Team

The CleverProfits writing team includes various team members in Advisory, Financial Strategy, Tax, and Leadership. Our goal is to provide relevant and easy-to-understand financial content to help founders and business leaders reach their true potential.

You may also be interested

pricing strategy, financial strategy, proper pricing, finance

The Price of Success: Why Proper Pricing is Crucial for Your Online Business

In the dynamic world of digital entrepreneurship, success isn’t just about offering exceptional products or services; it’s also about pricing them correctly. As your dedicated financial partner, ensuring our clients understand the importance of proper pricing is paramount. In this article, we’ll explore why pricing your services and courses accurately is vital for your business growth and how underselling could be hindering your true potential. 1. Your Price Reflects your Value: One of the primary reasons for pricing your services and products accurately is to reflect the value you provide. Whether you are an online agency owner or a course

Read More

A Crash Course in Accounting for Online Entrepreneurs

Every entrepreneur needs to understand basic accounting in order to responsibly grow their business. Without understanding basic accounting and what the numbers are telling you, it’s impossible to answer simple questions like: How much should I pay myself? Can I hire another contractor? Are my client projects profitable? Do I have enough working capital to pay my workforce? My vendors? How much should I set aside for taxes? This guide is a crash course for any entrepreneur who wants to learn how to construct their numbers using basic accounting. It’s an unconventional approach that I use to quickly educate business

Read More

The Financial Flywheel™

The simple 5-step formula to scaling your online business from 6-7 Figures (and beyond)
 
* Discover how to turn your business into a wealth machine

Hang on! Check these few final steps

Also, if you accidentally entered the wrong email you can go back and try again by clicking the button bellow.

Step 1

Check your email and find the one from CleverProfits If you’re using Gmail there's a chance that Gmail put the e-email directly into the “Promotions” tab (in Gmail itself) or sends it to spam. Check your Gmail account then drag it out from Spam or the Promotions Folder and move it to the Inbox. That will tell Gmail that you wish to view the e-mail from me in your Inbox.

Step 2

Click on the confirm to subscribe link in the email.

Step 3

Get access to The Financial Flywheel ( + other insight to help you succeed)