Featured Coaching Excerpt - Notes & Transcript, Part 1
Lesson Nugget: Find people you can rely on to take responsibility and coach them to the level you need them to be.
Jargonization Translation : Delegate - An authorized person to act as a representative for another.
Lesson Nugget: To lessen your workload find a coachable individual and entrust that person with a few of your tasks until they are qualified to take on more responsibilities.
Lesson Nugget: Finding someone capable to work in specific areas of your business can help lessen your workload.
Developing Better Decision Makers: 1. Give your employee the necessary information 2. Help develop the employee's skills 3. Give the employee the tools they need 4. Supervise the employee a lot in the beginning and lessen that supervision over time
CALEB TAYLOR: Jim.
-Hey, we're here in the mailbag. Aha, I surprised you, didn't I?
-We are in the mailbag and you are ready for it, I can tell. Jim is ready to rock and roll.
-Let's go to Boston.
-We're going to talk with someone--
-We are just taking a marathon approach to this thing and-- sorry, I just got to slide these in there.
-No, that's the whole deal. I love it, a marathon.
-We are, actually. We've done a number of these mailbag sessions right here in a row and it's fun.
-We care about what are you guys have, your questions. That's what we're here for.
-And I say, "we" and I-- you know, it's really Jim. I know you're here to listen to Jim. That's fine. So I'm going to just read the question from our Thriver in Boston and then let you just take the show, OK?
-Here we go. The Thriver in Boston, Massachusetts says, "I am a franchise owner and I just recently opened my second store. The first store made a good profit, but now that I feel overwhelmed every day and the second store is just barely surviving. My wife tells me I'm disorganized and I agree. How can I uncap my growth and get more organized? What can I do to get on top of it and just get organized?"
-Well, I'd say, first off, it's likely that the reason your first franchise store was successful was because you were personally running it. And the reason the second one's not is because you are not personally running it. That's a suspicion. I don't know that, of course.
CALEB TAYLOR: Sure.
-But you need to develop what a friend of mine calls "his rocks," the people that you can depend on. I'd say look at the people that you've got working with you right now and see who's got the most potential. And start really coaching that person and collaborating with that person and finding ways to get that person to the level that you need them to be so that they can accept the lead. When you've got too much work to do, one good way to lessen the workload is to delegate it. But what if the other people aren't ready to pick up those tasks yet?
CALEB TAYLOR: Right.
-So it's not "delegatable," yet, right? Well, OK. Let's say it's Caleb and me. And I have 10 tasks that need doing and he's not ready yet to accept all 10 of them. He can do two of them, OK? How do I lighten my load from the other eight? I teach him one of those eight. Now, I've got seven. He's got three.
CALEB TAYLOR: Right.
-And over time, I coach him and work with him and give him better tools, better software, more support, whatever, more information access or whatever you need--
-Whatever you need--
-So that you become more capable of making your own decisions, taking action independently, because the more he needs me, the less I am managing and the more I'm just doing two jobs. The less he needs me, the more I'm managing and leading and less just doing the worker bee part.
-That makes so much sense. I'm hoping that's helpful and I want to summarize to make sure we got everything here. This is big. You're saying if you want to-- you're spread in two locations now and you've got to find a rock, somebody that you can rely on to--
JIM CATHCART: And it doesn't have to be a person that could take over the whole business--
-Or the person's a duplication of you, just somebody that's got capabilities to lighten your load in one category--
-At a time--
-In different categories. I love that. But in order to do that, you're saying you've got to groom those people.
-Yeah, you've got to-- if you have tasks, you ought to delegate. You've got to make them delegatable by finding a person who can develop the skills to take action on their own. And a lot of times, people say, well, I have trouble giving up control, you know, because I'm afraid the other people will make a poor decision.
CALEB TAYLOR: Right, right.
-Well, it may be that they don't yet know how to make a good decision. Then again, it may be-- let's get the truth mirror out here-- maybe--
CALEB TAYLOR: Oh no, truth cannon, truth cannon--
-You don't want to give up control. You don't trust other people. You only trust you. Well, if you don't trust you, then you're going to be it indefinitely--
CALEB TAYLOR: Right--
-Until you learn to trust other people. So that could be a factor, but I'm not saying that it necessarily is in this case. So how do I get Caleb to be better at making these decisions. Well, one, give him the information he needs. Give him the-- help him develop the skills he needs. Give him the tools that he needs.
Supervise him at first a lot and then less and less and less over time, because what I want him to do is become more and more capable to act without me. If he's always checking in with me-- I think we're going to do this, but let me get back to you, because I got to get Jim to sign off on it. Well, if I've got to sign off on everything, I'm hanging on to way too much control and I'm working me harder than I should.
-And I'm being unfair to him. So I need him to be able to act independently.
-This is huge and this is something that's new if you've got two locations now and you've always had one.
JIM CATHCART: Yeah, and if you ever want four, I guarantee you, you won't get four jobs that you can do yourself.
Featured Coaching Excerpt - Notes & Transcript, Part 2
Notable Quotable: "The only way to become really really wealthy is to figure out how to give up more and more of your control to people and maintain control through your systems."
Lesson Nugget: Time management problems consist of the choices and behaviors of people.
-As far as delegating, you've given a specific guidelines of what that looks like, how to groom people, what they need.
-Let me ask you this though, if you've got two locations like this Thriver-- there's other Thriver's that have multiple different locations, maybe it's just one-- how do you stay organized with maybe it's delegating different tasks?
-If you ever want to become really, really wealthy, the only way to become really, really wealthy is to figure out how to give up more and more of your control to people and maintain control through your systems. Walmart for example, being the world's largest organization of its type, has systems that are unbelievably sophisticated.
They know what every product costs in every store all around the entire world. They know the shipping times. They know the margins. They know how much shelf space it takes, all those kind of things.
That's what you've got to develop for your own business. Is little by little-- and then, they didn't do that over night. They did that over generations. So when Sam Walton started out, it was pretty fundamental, as it would be with you at first. And then you just get your systems down to where you're tracking the numbers, and talking with the people about the ratios, and they are making the day to day decisions. But you've got to teach them how to do that and do it well.
-That's huge. The action item here is you've got to have the systems if you want to scale.
-But you are most likely the one that will have to build the systems, teach the systems--
-Or buy the systems.
-Or buy the systems. There you go, true.
-All these problems have been solved.
-Nothing new under the sun, it's just different brands.
-But you're saying you've got to have those systems, though. That's what will help-- do you think that will bring this Thriver organization that he's looking for as far as managing these two different locations?
-I'd have to drill down to find out what does he mean by organizations.
-Because being organized for one person has a very different meaning than another. Like, I've had people say can you teach my people time management?
-Yeah, I can. Do they need it? Oh yeah! Give me an example. And they say they don't make enough sales calls. Well, that's not a time management problem. That's a sales calls problem. Let's focus on how to get them to do-- well, every behavior is a choice of how to use that time. So I guess you could say everything is a time management problem, but that's not really it. It's choices and behaviors. That's it.
-OK. This is huge, though. If you are wanting to grow, continue to scale, get more organized, these systems you're saying is going to be vital. So I love it. Thank you so much for your time.
-If you guys have more questions for our mentors, don't hesitate to send them in because I know that you, Jim, are passionate about helping people thrive. So thank you for that. Boom! Number--