Team Management

10 Methods For Boosting Team Motivation During Times Of Crisis

April 14, 2020 by Dan Lok

Sara led team motivation meetings at work. And she knew exactly how to encourage, guide, and empower each one of her employees to thrive. Ben, her boss, trusted her enough not to sit in on any of them. But it also meant that he didn’t quite know how to communicate with his team during crises. For example, one day, he called Sara and said, “please pack your things, lock up, and go straight home.”

“What- wait, did I do something wrong?”

“I don’t have time to explain, Sara. Please listen carefully: lock up and go home.” And then, he hung up.

Sara was confused. Was she fired? Nothing else made sense. It wasn’t until she heard about the Boston Marathon bombings on the news that it clicked. Since her workplace was only 3 miles away from the tragedy, she understood that Ben had been looking out for her in his own way. Sara was grateful. But she also wished that Ben had provided more context. Without it, she felt lost, alone, and afraid.

Sara and Ben’s story shows us the management dichotomy that exists in the modern workplace. Maybe you empathize with Sara and feel left out of the loop. Or maybe you resonate more with Ben, struggling to connect with your team. Yet, in these times of uncertainty, leaders don’t have the luxury of time to engineer the perfect solution. So we’ve collected these ten strategies you can use to build your team during these trying times.

Should You Even be Focusing on Team Motivation During a Crisis?

In times of strife, leaders don’t have all the answers. It’s natural to be overwhelmed by all the urgent matters that are weighing in from every side. Maybe you have to contact banks and lending institutions to secure finance. Or maybe you need to put out fires with shareholders before they lose trust in you or your company. Or maybe you aren’t even sure whether your business will have a team to motivate in the long run.

But now more than ever, team motivation needs to be at the top of your list. Why? Because crises can make or break a team. When everything seems to be going wrong, your organization needs to see and hear from you more than ever. With the right words and attitude, you’ll be able to keep your team from falling victim to panic, disharmony, or rumors. And you’ll be able to guide, encourage, and reassure your team to persevere and deliver superior outcomes for the business. Teams can not only overcome times of crisis together but end up stronger than ever. So, build relationships, connect, and create a thriving work culture using team motivation.

It might be daunting to think that as a leader, you bear the lion’s share of the burden. But it doesn’t have to be that way. With the right people, an uplifting attitude, and sound advice, you’ll be able to handle any crisis that comes your way. So what can you do to be the kind of leader who boosts team motivation during challenging times?

1. Put Your Team’s Safety First

Ben did get Sara out of a potentially dangerous situation as quickly as he could. And that was the best first move he could have made. During a crisis, people need to feel safe. But if they don’t understand ‘why’ they might become their own worst enemy. Take the coronavirus crisis, for example. If everyone had taken preventative measures, it would not have spread this much.

When you share a short ‘why,’ you keep your employees from drawing their own conclusions. You will also stop any speculations and false rumors from spreading.

So as a leader, let your employees know that their safety and physical wellbeing comes before any other consideration. By doing so, you will:

Reduce their fears of having to choose between their (or their family’s) safety and work,
Reinforce that they are a relevant, important part of the team,
Ensure your team fights alongside you to resolve the crisis.

Use team motivation to communicate how and why their safety comes first.

2. Don’t Pretend That There’s No Fire When Everyone Can Smell the Smoke

Conventional wisdom says that you will spread negativity and fear if you share your worries, concerns, and anxieties. Being silent about a crisis as a leader, however, is no different than pretending that there is no fire even though everyone can smell the smoke.

So, even if you feel afraid, take time to communicate with them. Acknowledge that the situation is scary and that a lot of things can go wrong. It’s OK not to have all the answers. People want to know that you are working on them. So share your thoughts on potential solutions and opportunities for growth.

When you acknowledge your team’s fears, you are permitting them to be human. You are also giving your team motivation to keep going. These are a great way to set the tone for a high-performance team despite the crisis.

3. Be a Conduit For Your Team’s Concerns

The best leaders care about their teams. In crises, it’s particularly important to show them that you care. So, if possible, do whatever you can to be the person they can bring all their concerns to. For example, you could:

Call a company-wide meeting where anyone who has a question can ask it,
Set up an anonymous email that they can send their questions to,
Have a suggestions/concerns box placed in a central location of the office.

Encourage your team to ask you any questions or raise any concerns they might have. And then let them know that you will make an effort to answer every single issue – whether you have a team of 10 or 10,000. It might not sound reasonable or possible, but it has great rewards.

When you make yourself accessible to your team by showing up and addressing their fears, you are showing them that you are on their side. You will be the ‘people’s leader.’ They will trust in you, follow your direction, and defend you. And they will feel that they can rely on you to guide them because you are someone who cares.

Having access to all these questions also gives you an idea of what your employees need from you. That way, you’ll be able to plan future team motivation strategies.

Your team members also often know your business at a level of detail that can be missed when taking a high level view. By opening up a dialogue you can often get great suggestions from those in the trenches. In times of crisis a dozen small suggestions can add to make a huge impact.

4. Employee Engagement is Still Key

Many entrepreneurs and business owners mistakenly aim for employee happiness. So when times are good, they do everything they can to accommodate their team members. While this strategy works in the beginning, in the long run, it gives away your power as a leader. Why? Because employee happiness is a fleeting and short-lived measure of the strength of your organization.

That does not mean that you shouldn’t care about employee happiness. But rather than being a goal, it should be a byproduct of your other measurable measures. These measures include employee productivity, engagement, and contribution.

Employee engagement is particularly important for team motivation. Engaged employees tend to be more enthusiastic, passionate, and positive about their work. They tend to contribute by sharing ideas, encouragement, and solutions. They also tend to be the happiest.

If you don’t have a culture of engaged employees yet, it’s not too late to get started. To get started:

Set up problem-solving groups and give them specific, meaningful tasks,
Give your them access to relevant training,
Encourage open discussions and,
Train them to provide kind, constructive feedback and criticism.

Once you have a team of engaged employees, it will be much easier to weather the crisis together.

5. Be a Leader of Leaders

As an entrepreneur or business owner, you probably already have so much on your shoulders. You most likely have to make a lot of decisions each day. In uncertain times like these, there is probably so much more pressure on you.

If you’re struggling to be everywhere at once, develop your team to make decisions on the go. Here are some tips on how to make that happen:

Equip your employees with the tools and resources that they can refer back to,
Use team motivation to empower and train your team on ethical decision making,
Trust them to think through situations and come up with the right solutions.

And once they are ready, let them know that you will back their decisions. Stand by them. This way, you’ll have a team you know you can rely on in good times and bad.

6. Deal in Hope Rather Than Despair

Picture this: you are the captain of a ship. On good days, you can stand up on the sunny deck and give your crew directions. When everything goes smoothly, all you need is to steer clear of some rocks here and there. Your crew largely knows what they need to do, and you make good headway towards your destination.

Now, imagine a large whirlpool appearing off on one side. Your crew can’t see it from their positions above and below deck, but they can feel the ship swaying this way and that. How do you help your crew fight the whirlpool’s current when they don’t understand what’s happening?

In a crisis, your organization is very much like that ship at the edge of a whirlpool. When you know that your team doesn’t see what you see, you can change your approach. By being encouraging, clear, and concise, you could use team motivation to help them trust you. As we mentioned in an earlier strategy, don’t let fear take over. If you did, it would be no different than allowing the whirlpool to swallow your ship without a fight.

Instead, consider talking about long-term plans and projects. But do so without making any promises that you can’t keep. If you deal with hope, you’ll find yourself with a team that wants to reach new heights with you.

7. Check-In Often so They Don’t Check Out

Many businesses are still experiencing communication challenges as more people work from home. Checking-in with your employees often is more critical than ever. As you do, try to keep in mind that your employees have different priorities than they used to.

They might be worried about their family, their health, or how to get the services they need. They might have children running underfoot or elderly relatives to look after. With all these distractions, it might be easier for them to isolate and struggle alone. They may have feelings of guilt and not want to share what they are going through with work.

So do your best to check-in with your employees regularly. Ask them if they are OK and show them that you care if they are not. Make resources available to those who are struggling mentally, physically, or emotionally.

Checking in with your team often shows them that you are acting on your promise to put their safety first. It also allows you to address any other issues or concerns that might arise with the new work arrangements. No one will have to feel lost or confused for long. And when the crisis is over, the relationships you have built with your team will make all the difference.

8. Lead by Example

You may already have heard this strategy because it is a time-honored and proven one. There is no greater team motivation than having a leader you are inspired to follow.

The best approach to take is to lead from the front. Be someone who doesn’t ask anyone to do anything you wouldn’t do yourself. Be seen as someone who walks the walk. Who shows up, who shares, who cares, and who positively contributes no matter the situation. Be the first one in and the last one out.

This strategy works particularly well in combination with the previous ones. When people feel safe, taken care of, and valued, they will take note of your actions and understand that you haven’t given up on them or the business. They will then choose to work with you and alongside you with enthusiasm and pride.

9. Remember That Every Crisis Ends

As difficult as it might be to see now, every crisis does end. So set up systems and procedures that will see you through the dark times and into better times. Here are some tips that might help you prepare for the future:

Create a plan. Assess where you are right now and what you have to do to course-correct and get back on track for your goals.
Be seen. Expand your business’ reach and position yourself as an authority in your industry.
Develop your mindset. Practice gratitude and meditation to maintain a healthy mindset.

When you are centered in who you are as a business owner and entrepreneur, you can prove to your team that there is a future after the crisis. As you work towards that goal together, you’ll have a more reliable, self-motivated team.

10. Learn From Other Business Owners and Entrepreneurs

The most effective problem-solving technique is often also the most overlooked one. And that is to learn and implement best practices from business owners and entrepreneurs do to pivot. It’s easy, as a leader, to feel that you are alone. Maybe you also think that no one will understand your particular difficulties. Or that everything you experience is unique to your industry. We understand.

Dan Lok struggled alone during his early years as an entrepreneur as well. But his first mentor Alan Jacques showed him the power of collaborating with and learning from other business owners. His later success was, in large part, to the fact that he surrounded himself with other entrepreneurs.

And that was because many of them have gone through challenges and crises before. They made mistakes, but they also made winning choices. So Dan Lok was able to skip a lot of the errors and do what worked instead.

So a little known, but effective team motivation strategy is to experience it for yourself in a group like Dragon 100. High-level entrepreneurs that gather there learn and grow alongside you, no matter what.

The other benefit of belonging to a group of like-minded people is that you can finally talk freely. You can share your challenges, worries, and concerns without holding back. Why? Because they understand. They are either or have gone through the same things.

Team Motivation: Be a Leader They Can Follow

Even though the world is facing unprecedented times, with a growth-oriented mindset, a team you care about, and the right strategies, your business will be stronger than ever. So, in summary, here are the ten strategies we’ve discussed in this article:

Prioritize your team’s safety over anything else.
Assure your team that they are not alone in scary times.
Address your team’s concerns and encourage them to come to you.
Harness your team’s intrinsic desire to participate.
Train and empower your team to make the right decisions.
Show your team that you are thinking about the long-term and that it includes them.
Reach out to your team members often so that they don’t feel lost.
Be the kind of leader your team is proud to follow.
Put systems and processes in place so that you prepare for the future.
Join and grow with a group of high-level, successful business owners and entrepreneurs.

How Effective Leadership Communication Impacts Business

February 10, 2020 by Dan Lok

If your employees are lazy and if your customers aren’t buying, one of the first things you should look at is how effective your organization’s leadership communication is.

The art of communication is the language of leadership. All great leaders are great communicators because that’s how you inspire. You have mastered the power of the spoken word to influence people to support your cause and follow you wherever you go.

If you want to motivate your employees, increase your sales, and grow your business, follow this advice on ways to improve your public speaking skills.

Watch this video about why public speaking is important for leaders.

Problems Originate From Poor Communication

When you’re a strong leader, you can take people where they want to go, even if they don’t necessarily want to go where they should. So that means as a leader, when we are communicating, we have to push and challenge people a little bit.

Very often employee problems are the result of lack of communication. Lack of employee performance is also from lack of communication.You need to have a system in place to check on the performance of your employees: what are their strengths, their accomplishments, their challenges. If you aren’t aware of their struggles, how can you help them improve?

Similarly, if you want to shift the direction of a company to make it better or to grow it, don’t focus on the company itself. Work on you, the CEO, and the other leaders of the company. Paint a clear vision and mission for everyone to follow.

If I shift the leaders, I shift the company. It’s like when you’re driving a big ship. If you turn the wheel by a small degree, the entire ship will turn.

Lack of sales in the company, like poor employee performance, is also from lack of communication, starting from the company to the marketplace.

As the leader, it’s your role to motivate your sales team. How can you inspire them to close deals, to improve their skills, and understand why selling your products is so important? It’s not just about making money. What can you do to change the company’s marketing so that your customers and your sales team understand the value that you’re bringing to the marketplace?

Strong communication skills are vital in leadership. Eventually you will develop your own leadership and communication style to motivate them. Some people may not like, it, so you’ll have to accept that not everyone will agree with you or like your style. You know what’s best for them.

Poor Communication Means Poor Sales

When I am selling something, my internal dialogue is so strong I can sell someone something they didn’t even know they wanted yet. But when I’m done selling, they say, “Thank you.” That’s not a bad internal dialogue to have. That’s how much conviction you need to have.

So what is an internal dialogue? It’s you understanding the mindset of the person you’re speaking to. Your prospect can be your employee or a potential customer.

As you’re speaking, you anticipate and you react to what they’re saying. It’s part of sales psychology to understand what’s going on in their mind. Your conviction needs to be so strong that you sell the other party on whatever you want, whether it’s an idea or a physical item.

So my question to you is, how strong a belief do you have when it comes to your products and services? Your conviction makes a difference. If it’s only 50%, how is it affecting your results?

You might think your prospects don’t know, but I guarantee you, they know. They know the minute you open your mouth. It’s all at a subconscious level. They pick up on your tonality, the words you use, and the way you control the conversation.

We can’t force people to move forward with us, but our passion can motivate and inspire them.

Conviction Drives Business Forward

As a communicator, as a leader, your energy has to be high. If you’re a five on the energy scale, your audience is going to be a one. If you want them to be at an eight or nine, you had better be at a ten. It’s the same with employees. If they’re unmotivated and low in energy, it’s because of you.

The most important person you have to influence is yourself. And you’ll need to do that all the time. As an entrepreneur, you don’t have the luxury to relax. When you chose this path, you gave that up. Your energy always has to be high to motivate yourself, your employees, and your prospects.

Ideally if you want to raise the energy level of others up to an eight or a nine, you need to get yourself up to a ten or eleven. You don’t have to be loud or outrageous like a highly animated person on a stage.

You just have to have a little bit more conviction. People crave certainty. Your employees need to know that they can lean on you for courage and solid decision making. When you walk into the room, they will stop what they are doing and pay attention. Your voice is clear, positive, enthusiastic, and authoritative when you speak.

You will need that high energy level when you deal with your customers. You need to be at a ten, because if you aren’t confident in yourself, your company, and your product, how can you sell to your customers? And if you can’t sell to your customers, how can you help them?

So confidence and conviction need to be in your voice and your attitude.

You might think that you want to be nice so you don’t offend anyone, but no transaction will take place. No one is doing business with anybody. Customers are not benefiting from your products and services. Even if you deliver great value, they might never find out if they don’t buy.

If you want to be a great leader of a company, then start with strong communication skills. You will motivate employees to perform well and customers to buy your products.

Begin your leadership by inspiring yourself.

Feeling Uncertain About Your Business?

If you want to breakthrough your current performance as a leader, and want to effectively increase your business revenue, book a free consultation with one of my advisors to discuss your goals.

How To Get Out Of A Bad Business Partnership

February 3, 2020 by Dan Lok Leave a Comment

Feeling trapped by your business partner and looking for a way out? Learning how to get out of a bad business partnership can be difficult, especially when legally binding documents such as contracts are involved.

There’s no worse feeling than being stuck in a business contract with a bad business partner. At that point you’ll be dying to know how to get out of a bad business partnership.

At first, everything was going smoothly. You were on the same page, you had the same goals and it made sense for you to become business partners. But as time went on, small cracks began to appear. First it was a few emails that they didn’t reply to. Then it was an important business decision made without your approval. And slowly but surely, those cracks began getting larger and larger.

Now, it’s gotten to the point where you two are on completely different tangents, and you don’t know what to do. You feel like they are holding you and the business back. Perhaps it’s finally time for you to part ways with them and go on separate paths. If you’re wondering how to get out of a bad business partnership, let’s discuss a few tips to help you do so:

How a Bad Business Partner Creates Resentment and Kills Business Potential

Imagine that you are a tiger on an isolated mountaintop. You have not eaten for three days, and you are starving. But a few moments later, you see a nice looking deer that is within range of you. You begin stalking towards it slowly, careful not to make any noise to alert the deer of your presence.

As you get closer and closer, you realize there is another tiger on the opposite side of the mountain that is doing the same thing. That tiger is also slowly making their way towards the deer – your deer.

That tiger poses as a direct threat towards what was supposed to be your food source. Now you have a decision to make – you can either walk away and try to find another deer that isn’t contested, or charge towards the deer and hope you get to it before the other tiger does. But even if you manage to reach the deer first, you still run the risk of having to fight off the tiger in a bloody battle in order to claim your spoils.

The tigers represent you and your business partner, and the deer represents the business. In a fruitful business relationship, this does not happen. Both tigers would be looking to work together in order to capture the deer. They would split the food amongst themselves. That way, both of them can eat and neither one starves.

In a bad business partnership, you and your partner will end up fighting each other in order to gain control of the business. Even if you do reach the deer in time, you will have to put up a fight in order to keep it. And this struggle continues until one of you gives up and can’t fight any longer.

When a Prosperous Business Partnership Suddenly Turns Sour

Not surprisingly, most business partnerships do not work out. Statistics show that 70% of business partnerships ultimately end up in failure. More often than not, most business partnerships are between spouses or family members, which makes getting out of it even more complicated. This is due to a variety of reasons such as trust issues, lack of communication, and not drawing the line between business and personal life.

If things aren’t working out, you need to examine why. Why did the business partnership go downhill? Is it an issue between you and your partner, or something in the business? Getting clear about where you are coming from can save you a lot of headaches down the road and give you clarity about what exactly is not working out.

For example, if the issue is that you and your partner are incompatible, then there is no choice but to move on. That means either you or your partner has to leave the business, and go your own separate ways. Two tigers cannot share the same mountain, just as two incompatible business partners cannot run the same business.

One Mountain Cannot Contain Two Tigers. - Ancient Chinese Proverb Share on X

The Risks of Starting a Business With a Family Member or a Friend

Starting a business with a trusted family member or friend can seem like a very intriguing idea. However, when it comes to business there is more at stake than simply just losing the business. With business comes money, and money is widely seen as a controversial issue. If you are going to start a business with someone you know, ask yourself if you can handle the worst case scenario.

If for example your business partner is your spouse, you have to make a decision. Do you want to save the business, or do you want to save your marriage? In the situation where neither person wants to back down, making a decision like that is sometimes necessary. Either one of you has to accept that things are only going to get worse, unless someone surrenders. That means letting them take over the business and calling all the shots, whether or not you want them to.

In Dan’s own organization, his wife Jenny is a valuable business partner. However, as much as he values her insight and opinions, at the end of the day his word is final. They have come to an agreement that as chairman of The Dan Lok Organization, his decisions have more weight than anyone else’s. As a result, everyone in my organization understands that even if they think he is wrong, they have to respect and follow his decisions. Because of this rule, it makes it easy for everyone to come to an agreement, and keep our business lives separate from our personal lives.

When Your Business Partner is Strictly Business

If your business partner is your friend or family member, you have to take your relationship into account when making a decision to walk away. However, if your business partner isn’t closely related to you, then it simply comes down to a matter of business.

When you first started out as partners, you most likely had contracts and agreements in place. In most businesses, partners will divide up the company into shares, and allocate an even number of majority shares to each partner. That means you and your business partner could be holding onto 40% of the company, with 20% open to the public. If you want to get out of your business partnership, you will have to sell your shares to your partner. However, if you want to continue running the business and want your partner out of the picture, that means you will have to buy their shares.

Business is all about negotiation. In the scenario where both of you are in agreement – you want to own the company and they want to leave, your partner will state their price and the two of you will negotiate back and forth about how much their shares are worth. Once you’ve reached an agreement, simply sign the documentation, shake hands and you both continue on your way.

The worst case scenario when two business partners aren’t closely related, is that both of them want to run the company and neither is willing to budge. That means either you have to make them an offer they can’t refuse, or you make the decision to walk out.

Making The Difficult Choice Between Leaving The Business or Fighting For Control

If you and your business partner are not aligned – which is the most likely case considering you want to get out of the business partnership, you have to decide. Are you willing to make the sacrifice and leave the business, after you’ve poured in all your energy, time, sweat and money? Or will you stand your ground and stubbornly fight for control – and risk bringing the business down with you?

Fighting for control of the business is a game of chicken. It is like both of you being in two separate cars side by side, racing toward the finish line of bankruptcy. Whoever decides to hit the brakes first before crossing the finish line, loses control. The one who perseveres the longest, becomes the one and only chairman. In the process however, the business will have plummeted in value due to both of you fighting for control instead of managing the business. What’s left over are the scraps of a business you once had, and your job after regaining control will be to rebuild everything you have just lost. It may be a victory, but it will be a bitter one.

The other choice you can make, is to walk away. If you choose to walk away, realize that it doesn’t mean you have lost or given up. It simply means you recognize that fighting for control of the business with someone who is not willing to negotiate is not worth your time and energy. Your time that you would use to try and gain control, is much better used to pursue other more fruitful opportunities that await you. And you never know – in the future your partner may want to sell the business. That gives you an opportunity to buy back the business.

How a Royalty Agreement Allows Both Partners to Remain in Control

In situations where neither partner wants to budge, both parties can still own the business without having to step on each other’s toes.

For example, let’s say your business partner created the product or service and you managed the daily operations. After working together, you realize they aren’t that passionate about continuing to run the business, leaving you to do most of the work. After many heated arguments, your business partner declares they don’t want to give up the ownership or right to their own product. But without it, your business can’t continue functioning.

One way to allow them to remain the rightful owner while you run the daily operations of the business, is with a royalty agreement. A royalty agreement allows the creator of the product to earn royalties for every sale that is made. This way, your business partner can still profit from what was originally theirs, and you can continue running the business the way you want to. Now, instead of having arguments about who rightfully owns the business, you can focus on running and making it grow. It’s a win-win situation for everyone involved.

Always aim to create a win-win situation in business. Share on X

When You Can’t Reach an Agreement, Let Your Employees Make The Decisions

If you and your business partner can’t come to an agreement, the best thing may be to not agree at all. This is where the old saying “Agree to disagree” comes in. In situations where a compromise is not possible, but both partners understand that the business won’t succeed if they continue their arguments, a third party may be the best solution.

Instead of letting the company be run by either partner, you can delegate that task to your employees. Some of the most successful companies today are not run by the owner’s themselves, but by employees acting as the CEO or President. Because they aren’t personally invested in the company as much as the owner’s, they are able to provide a rational perspective and avoid any conflict that would arise from having just one person running the company. That’s why larger companies will have a board of directors, to allow decisions to be made only if there is a majority vote from many members.

By letting a middleman such as hiring a CEO to run the company, you and your partner can still own the business without needing to get involved in the internal affairs and conflict that would arise. Even if you and your partner hate each other’s guts, you won’t feel the same way towards a third party who is making decisions on your behalf.

If you’re struggling to get out of a bad business partnership, the best option may be to substitute yourself with an employee who is willing to take over your role and responsibilities.

Getting Out of a Bad Business Partnership: What’s Next?

Let’s say that despite trying to negotiate and work things out, you think the best thing to do is for you and your business partner to go separate ways. What do you do after that? Should you secretly check up on them every single day and hope that the business will fail without your guidance? Or should you be humble, accept that it’s just business and move on?

In the world of business, nothing is personal. Learning to let go after a setback or negative experience is just as important as learning how to build a business. If you carry around your past with you, it will only negatively affect you in the long run and harm you in any future endeavors you may undertake.

Keep your business life and your personal life separate. Letting your personal emotions cloud your thoughts and affect your judgement means you never really got out of a bad business partnership. You’re still with someone who’s toxic or doesn’t help you grow. And this time, that business partner is someone you won’t ever be able to walk away from: Yourself.

Learn From Your Failures: Don’t Be Haunted By Them

Dan’s executive director Desmond had a similar story. When he was younger, he became business partners with some Australian men that took advantage of him. At that time, he was young and eager and displayed a lot of passion for entrepreneurship. These are the kind of qualities that will get you ahead in life. But unfortunately, these are the same qualities that his business partners would later on take advantage of.

His business partners saw that he was young and eager, and used him for their own personal gain. He ran the company, putting in his time, sweat and energy and in a few years grew it to the million dollar mark. One day when he tried contacting his business partners for an important meeting, he felt something was wrong.

They wouldn’t reply to his phone calls. They wouldn’t reply to his emails. All the ways he previously contacted them before, no longer worked. At that moment, he realized that his usefulness had come to an end. The company was wildly profitable, and so were the owners.

Overnight, his business partners took everything and left him with nothing. He had nothing to show for all his years of hard work, except the tears that were shed as the realization of what had happened dawned on him.

A few years later, Dan would meet Desmond and listen to him tell me this exact story. And unlike his former business partners that sought to use him for their own personal gain and then leave when the time was right, Dan made sure Desmond knew that if they were to become business partners, they would be in it together.

A 4 Step Process To Getting Out of A Bad Business Partnership

If you’re stuck in one and want to know how to get out of a bad business partnership, here’s a 4 step process you can use.

1. Get Clear On What You Want Out Of It

At this point you are clear that you want nothing to do with your business partner any longer. You cannot work alongside them, or you want complete control of the business. The first step is to decide what you want.

Ask yourself what you want to salvage from the partnership. Do you want a cash severance for all the years of work you put into the business? Or do you want your business partner to step down and let you make the decisions? You need to get clear and stay clear on what you want after ending the business partnership. These should be things that are non-negotiable.

When you finally talk to your business partner about ending the partnership, you need to know exactly what you want or you will settle for a compromise. For example, you might want 60% ownership of the company, but after talking to your business partner they might somehow influence you to settle for a million dollar check. In reality you could have forgot that it’s not about the money, it’s about owning and operating a business.

Unless you know exactly what you want, you will waver in your convictions. Get clear on what you want out of the partnership, before you approach them to end it.

2. Look At Your Partnership Agreement And The Business

If you have a partnership agreement from before you two became business partners, review the document and familiarize yourself with what was written.

Look at what belongs to your partner, and what belongs to you. If you both own equal shares in the company and you want to buy them out, you’ll have to determine how much it’ll be worth. If your business is making $10M annually in revenue and your business partner is preventing it from going any higher, it might be worth it to simply buy them out for $4M. While it may be a hefty price to pay, it’ll allow you to grow the business you want to without any limitations.

If you can grow the business so that it brings in $12M the next year and $14M the year after that, you’ve essentially gotten rid of a problem that only costs you 2 years worth of revenue. Analyze how much each decision would cost and then implement it.

3. Create A Legally Binding Agreement For The Breakup

Once you’ve talked to your business partner and negotiated a deal that you both can agree on, it’s time to put it into writing.

Create a legally binding agreement that includes the details for how you two will dissolve the business partnership. The agreement should detail what the terms and conditions include – such as exact sum of money that will be disclosed to either party, the rights each party now holds, and what each party is or is not allowed to do afterwards.

The last thing you want is for them to steal all your insider business secrets and become a competitor. If you want to avoid this, make sure your agreement outlines it in the terms and conditions.

4. Go Your Separate Ways

Once you’ve discussed with your business partner what you each expect and have put it into writing, the last step is to go your own separate ways. You two no longer have anything to do with each other, and can do things the way you like.

Unlike a bad relationship where one partner might have cheated on the other, your former business partner is a professional. Getting out of a bad business partnership is just like becoming partners – it’s a mutual agreement between two parties.

Don’t make the mistake of labeling your former business partner as an enemy or someone to get back at. You are simply two people that weren’t able to make the business relationship work. No one is to blame, and you both can now focus on what it is that matters to you.

Your Failures Only Make You Stronger

Knowing how to get out of a bad business partnership is only the first step towards becoming a success. As a teenager Dan failed at 13 businesses but never gave up despite being $100,000 in debt. Once he discovered that he could earn a high income without needing to rely on starting businesses with other people, his entire world changed. If you want to learn more about the skill of High Ticket Closing, watch the free training series here.

How To Optimize Task Management, Communication, and Training In Your Team

January 26, 2020 by Dan Lok

Do you feel overwhelmed trying to optimize for task management? Or to create effective communication in your team? If yes, you’re not alone. Task management is the most difficult part of project management in almost any team. Companies go out of business due to mismanagement and it happens all the time.

When we look at struggling businesses, we find two main problems:

Lack of marketing – Not enough clients
Poor management – A weak leader and a lousy team

9 out of 10 times, it is one of the two problems that make the business fail. Sometimes it’s both. And the sad thing is – people often find something or someone else to blame. Sometimes they blame the government…other times it’s the market…the economy…you name it. But if we dig deeper to find the true core of the problem – management is almost always the main reason and root cause of all problems.

The way we see it – a leader is really a dealer of hope. He is the artist. The one who can paint a picture and a strong vision and have the rest of the team follow him in pursuit of that vision.

The best businesses have the best leaders Share on X

So…to help you avoid some of the most common and very dangerous pitfalls, we will share with you our advice on task management. You see…If you want to be successful as a leader, you have to plan and execute projects. However big or small they may be. To do this – you absolutely must be able to optimize task management for your team.

According to a PMI study, high-performing organizations successfully complete 89% of their projects, while low performers complete only 36%. The key for success is – whether you manage a remote team, or in an office environment – good communication. Increasing and improving communication should be at the top of your priority list for creating a high-performance team.

The Foundation Of Optimizing Task Management

Your company or team are most likely working on several projects at a time. And every single project is made up of many tasks and steps that lead to the final goal. Knowing how to manage each of those tasks is the secret to getting your projects completed on time.

At the very basic level, you are looking at to-do lists. But task management becomes more complicated when it comes to managing workloads at a bigger scale.

Task management is a process where you have to:

Outline your project. And identify all the tasks to be completed
Prioritize the tasks based on a set criteria
Create a schedule that is firm yet flexible
Delegate to the right people
Coordinate and communicate with them
Monitor, track and analyze their progress

As you can see optimized task management requires a group of people working together. And that requires effective communication within your team. It requires appropriate time management too. You must organize things in such a way that your team spends only the required amount of time allocated to each task and not a minute more.

Priority tasks need to be completed first. You have to ensure your team doesn’t get distracted and stays on track. Optimized task management lets you stay on top of all your work. And helps your team meet their deadlines.

Think of it this way…Your business is a machine. And each project takes your machine forward. To execute each project you want each part of your machine to operate in the most optimized way. You want all the nuts and bolts coming together in perfect harmony. In other words, you want your business to be a well-oiled machine.

And to do that time and time again, you need a structure in place.

Create A Structure

Now, when it comes to managing people, one thing we learned over the years is that people are not manageable. You cannot actually manage people. It is much better if you can create systems so people can manage themselves.

As your company grows, you will not be able to micromanage everyone because you will have a lot of people on your team. You simply won’t have the time and capacity to check in with everyone individually. This is why you must create structure.

If you build a system with a clear path for each team member to walk on, your job will be easy. As a leader, you will show each team member what is the path that they need to walk and how. You point them in the right direction and set them up for success.

Now, the definition of success for you and your team is up to you. It can be defined in different ways. It could be defined in:

Financial terms
Terms of status
Terms of their role within the company

Whatever your goal and definition of success are – your job is to show each team member a path to walk to get to the defined goal. You have to coach them as they walk on that path and help them be successful in what they do. In this sense, one of our important tasks is to make sure they do not deviate from the path set out for them.

Since we already established that people are not manageable, then the only way to ensure they stay on track is to build that path for them and guide them. Create a structure, manage their compensation, manage infrastructure of your projects. When you have the structure in place and clarity on your goals, then finding the people to fit that structure should be easy.

Hire The Right People

We see a lot of business owners hiring their friends and relatives. That’s a big mistake. You see… Business is a game of margins. And friends don’t always result in results. Profitable employees do.

The only reason you hire people in your company is so they give you results. You hire for profitability. Period. There are 3 main qualities that Dan Lok looks at when hiring people for his team. If you want to know what those are, watch this video:

The Structure Of Effective Task Management

This structure is only a template. It is not a definitive structure that would fit all businesses. What applies to you may not apply to someone else’s business. A big company could have hundreds of projects going on. On the other hand, a small business may have 2-3 projects at the most.

Everything depends on the size of your business, your team, your budget and the scope of your projects, etc. Modify this template and adapt it to your business needs and requirements.

1. Establish An Outline For Your Projects

As a leader, you have to first create a general outline for your projects.

For each particular project:

Define the goals and purpose of the project.
Identify all the tasks needed to achieve the goals.
A practical timeframe your team would need to execute them.
Decide and allocate the budget and resources your team requires.

You should break big tasks into smaller subtasks and then focus on getting them completed one by one.

Remember if planning one project triggers an idea for another project, do not add to that project. Instead, create a new one. And create a separate plan for it later.

Let’s say you are planning for the creation of your company’s product catalog. While planning for that, you may get the idea to create other company collaterals. What you should do is make that a different project. Do not add on to the catalog project.

You see… You have to keep each project narrowed and focused. Plan, schedule and gather your team and resources to work on it. And put that plan into action. If your focus is clear and defined, your timeframe and budget allocation will remain in check.

For optimized task management, you have to establish an overall budget and schedule for the entire project first. Then you have to identify and account for other things that would be required for individual tasks within the project.

Having that overview will help you and your team better understand everything you are doing and have to do. It will also keep your budget in check.

Once you have established these outlines…

2. Categorize And Prioritize Tasks

Once you have all the tasks listed out to execute each project… You have to assign a priority level to each task. Define them by a set of properties.

Once you have this structure in place, you would be able to prioritize and assign tasks effectively. Hence, it is important to establish what is important at a specific instance.

One way to look at your tasks is to identify:

Tasks that can be scheduled chronologically
The ones that can be scheduled simultaneously or
Tasks that can be executed at any time within the project timeline

Then create a schedule around those tasks.

Another way for optimized task management is to describe your tasks in detail. Then evaluate them based on a set of assigned parameters.

How hard is the task?

It’s up to you to decide the difficulty level required for each task. But it is important you define them.

You could use tags such as:

Very Easy
Easy
Moderate
Difficult
Very Hard

You could use the level of skill or brainpower needed to define the above tags.

How urgent is the task?

An effective team leader knows not every task on their to-do list needs to be done right away.

You could use tags such as:

Right Now
Today
Tomorrow
In a week

Try to be honest and realistic in your estimations. If you plan to do everything now, you will never get anything done.

How significant is the task?

You could think of it as to how much of an impact a task has on your team. Or even your project or customers.

You could use tags such as:

Insignificant
Minor
Major
Critical
Highly Critical etc.

How much of an impact a task can have is subjective. It depends on the task, the project and your team members.

3. Create A Schedule

When you created an outline of your project you created an overall schedule for the project. Now that you have all individual tasks listed, categorized and prioritized… You have to create schedules for those tasks as well.

Because you have to meet the overall schedule and time frame you have set for that project. This is a critical part of an optimized task management process. You have to set realistic time frames against each task.

Define milestones and deadlines based on the priorities you have assigned previously to each task. Remember that you need to make sure every timeframe you set is actually achievable.

Scheduling tasks is a great task management skill for a leader. It keeps the team focused on work on hand, so they don’t fall off the track worrying about other tasks. As a leader, you have to avoid any undue stress on your team.

Now while keeping a strict schedule is key, you have to be ready for the unexpected.

You see…When you create and plan a schedule you have to take all possible outcomes into consideration. As a best practice, you have to analyze all the possibilities. And be prepared to overcome any obstacle that may come in your plan.

But some instances and situations require revisiting already made decisions. Hence, being flexible is a top task management skill for a leader.

What if:

Someone makes a mistake?
Your team member falls sick?
An unavoidable situation arises?
There is a sudden change in the market?
The customer’s priority changes?

No matter how much you plan, there will be things that will be out of your control. So your schedule has to be flexible with deadlines when it needs to be.

4. Delegate And Assign Tasks

This will go hand in hand with the creation of the schedule for your tasks. The integrity of your schedule depends on your team. And as a leader, you have to identify the people who will work on the tasks that have been laid out.

Delegating empowers your team, builds trust, and assists with professional development.

Before you start to delegate, consider:

The knowledge and skills of the person with regard to the task being assigned?
Do they have experience handling such tasks?
Do they require any training?
If so, can you spare the time and resources for the training?

Remember, if you add a new person to your team who doesn’t have enough experience, be patient. An effective leader will let new members learn and grow with time. All you have to do is assign them tasks according to their experience.

Even then, they may take a bit longer to do certain tasks. But if he/she is the right person for the job, they will quickly become competent and reliable. Eventually, you can start giving them more responsibility.

Here are a few other things you should look at before delegating tasks:

What is their preferred work style?
Can they handle it alone or need more support?
What are their long-term goals and interests?
Does their goal align with the task?
What is their current workload?
Do they have time to take on more work?
Would you have to reshuffle other responsibilities and workloads?

Once you have identified the right people for the tasks, clearly explain the desired outcome to them. Tell them why you are delegating the task to them. Never look for perfection or micromanage. But ensure that they know the lines of authority, responsibility, and accountability.

5. Establish Effective Communication And Coordination

29% of people say that poor communication is reported to be in the top five causes of a project’s failure. And they are not wrong. In out experience, miscommunication can lead to disasters.

You see…Each member works on their individual tasks. And that combines to create the completed picture i.e. a successful project. By implementing a clear communication strategy, the whole project comes together seamlessly at the end. Hence, we ensure our project leaders have proper channels for communication with each of their team members.

Any sort of team collaboration software plays a vital role in ensuring smooth communication between everyone involved. When you are done delegating tasks, make sure your people feel that they can:

Ask questions
Ask you for feedback

Your team should feel they’re able to make decisions. At the same time, you have to be consistent with follow-ups. You should not be blaming the team members when something goes wrong. That is not the sign of a good leader.

You have to be involved with the projects. You have to be present and reachable if the team needs you. If deadlines are approaching and workload increases, it is time for you as a leader to step up.

You have to ensure that all steps are followed by everyone in the team. Your inability to do that can lead to major setbacks, in the long and short run. Now, we-re not saying that you have to do it yourself.

It is the job of the team leader who is heading that project. Again, it all depends on the size of your business, team, and no of projects, etc.

6. Track, Analyze And Improve

Effective communication continues to be important when the tasks are completed as well. Measuring each person’s work and results is an important part of an effective task management strategy.

This is the time to assess performance, build motivation, and commitment. And streamline the entire process for further improvement.

It is a continuous loop. When a team member completes a task:

Check and evaluate their work
Make sure they correct their mistakes if any
Give them feedback so that they can improve
Show genuine appreciation for a job done well

You could ask your team members how they measure their performance. When your team can provide input, it gives them ownership of the process. After all, they have the best knowledge about:

How they did it?
What decisions did they take?
And what success of a task looks like to them?
What they could have done better?

If you have hired the right people for the job, you will see in them a strong desire for improvement. Make sure there’s a plan for them to become better and more efficient in their tasks. If they require training, provide it. Arrange for a course or a seminar. Discuss how their success will impact financial rewards, future opportunities, etc.

Provide recognition where deserved. This ensures your organization is running at its most productive. Some tasks will have quantifiable targets to hit. And the effectiveness of your team is based on performance against these goals. On the other hand, some can be more subjective to evaluate.

It’s up to you how you want to evaluate performance. Whatever you decide it is important that you have this step in your task management structure. The key thing is to act on this information so the performance of your business improves overall.

How To Provide Constructive Feedback To Your Team Members

January 22, 2020 by Dan Lok

Learning how to provide constructive feedback is one of the most valuable skills you’ll ever learn.

In life, working with other people is inevitable. To achieve something great, you need a team that can help you get there. That’s why having teamwork is essential to making progress in any project. But in order to make progress, it is sometimes necessary to voice your opinions and thoughts.

Used properly, constructive feedback allows you to offer your perspectives without being offensive to others. If you disagree with the ideas of your teammates, you can tell them your honest thoughts, without being confrontational. It is a technique you can use to lift others up, and help them become better. Here’s how you can effectively provide constructive feedback to your team members.

Constructive Feedback vs. Criticism – Why People Mix It Up

Constructive feedback is not the same as criticism. Humans are naturally ego-driven creatures, and when we see someone doing better than us, we become jealous. Criticism is what people say when they don’t want you to succeed. They will insult you or say negative things to try to bring you down.

You see this all the time on the internet. These ‘haters’ are very vocal about their opinions, and will hold nothing back. For people that are finding success in life, the intent of haters is to make you think worse of yourself, so that you can stoop down to their level. These are people you should ignore – for their opinions have no merit.

Constructive feedback however, is similar to criticism but with good intentions. Constructive feedback is when you offer your opinion, and state what you think would be a better alternative. For example, let’s imagine a scenario where you are working in an office. You think the report you typed up was good, but your manager thinks it could be improved. Your manager points out some sections that you could change, and how you could change them so it sounds better overall. That is constructive feedback.

The Good, The Bad, And The Good

Done properly, constructive feedback helps others see their mistakes and gives them an opportunity to improve. One of the most effective ways to offer constructive feedback is with something called the ‘Feedback Sandwich’.

The way it works, is that if you have something ‘bad’ to say, such as what they could do better, you sandwich that ‘bad’ opinion with two ‘good’ opinions. For example, let’s say you think a team member would be more efficient if he took his hat off. You would offer constructive feedback by saying:

Good: “Hey <name>, you work very fast!”

Bad: “But I think you could be faster if you took your hat off, as it distracts you from the project”

Good: “Overall, I think you make a great contribution to this team.”

By sandwiching constructive feedback, you are softening the blow. Humans remember the last thing that was said to them. By ending your feedback with praise, the person will feel less offended by what you have said.

Resolve Conflict By Putting Yourself In Their Shoes

However, in certain situations your team members may have very strong opinions about something. As a result, they are adamant about their position, and refuse to see your point of view.

You: “I think red would look better.”

Them: “I disagree. We should go with blue.”

In this scenario, neither person is right or wrong. As a result, it is much more difficult to offer constructive feedback, because neither side sees the other person’s point of view.

The best way to resolve this type of conflict, is to put yourself in the other person’s shoes. Instead of believing in your opinion is the correct one, flip the script and assume the other person’s opinion is better. What reasons can you think of that would make them think that way? Why do you think they chose their opinion over yours?

How Roleplaying Can Help You See Different Perspectives And Resolve Conflict

Roleplaying is a very powerful way to offer constructive feedback. For example, in the industry of sales, roleplaying becomes a powerful tool when it comes to prospect and salesperson interactions.

Each person takes turns playing the role of the salesperson, and the prospect. In this instance, you are able to learn from your partner. You can see a live example of how they speak, the words they use, and what techniques they use to try to influence you. This allows you to get a feel for what it’s like to be one role or the other, which is invaluable in understanding what each side is feeling and thinking.

Roleplaying also allows you to see the flaws you yourself cannot. Because there are two people involved you can see the flaws your partner cannot – and vice versa. In our minds, we have created a very strong image of who we think we are. When a new bit of information threatens this image, we become defensive and refuse to acknowledge that piece of information.

This is why world class athletes hire coaches to help train them. The coach helps the player to see the flaws they cannot. If the player acknowledges what the coach is saying, they can improve themselves by correcting their own mistakes. However, if the player remains stubborn and refuses to acknowledge their own mistakes, they will stay the same.

Why A Bitter Hard Truth Is Infinitely Better Than A Sweet Sounding Lie

Let’s imagine that you were learning a new skill – for example closing. What do you think would be more valuable: Someone who lied and said you were the best closer on the planet, or someone who pointed out your mistakes and what you could improve on?

In order to become the best version of yourself, you need to constantly examine yourself. However, we cannot examine ourselves, because there are certain flaws that we will unconsciously ignore given human nature. The only way to get an accurate examination of our own selves, is to ask another person.

This becomes a problem when the person you are asking is someone that cares about you. Family members and close friends are people that care about your feelings. As a result, if you ask them for their opinion on what they think of your closing ability, they may lie to you to make you feel better. But the truth is, this does more harm than good.

By being told a lie, you go around in life believing you are someone that you are not. You are living a false life – believing that you are the best, when in reality you could be terrible. And when it comes time to test your skills, you’ll fail and fail badly – because of the lies you have told yourself.

The Concept of Tough Love And Why It Is The Best Form Of Constructive Feedback

My mentor Dan Pena, is infamous for using a form of constructive feedback called ‘tough love’. Tough love essentially means that because you care about that person, you will be extremely brutal and harsh with them if it means you can help them improve.

While many people may disagree with me, I believe Dan Pena cares about his mentees. He cares so much, that he is willing to do ANYTHING it takes in order to make you successful. That includes swearing, shouting insults, using profanity, being offensive, uttering racist remarks and in rare cases – physical violence. But from my perspective, that is the best example of what true constructive feedback looks like.

The goal of constructive feedback is to help the other person improve and get better. If that means being harsh with them from time to time, that is the price you must pay. The opposite, would be to treat them gently but prevent them from seeing any improvement at all.

Understand that being critical of someone does not mean you do not support them. In life, it is often those that are sheltered from the bitter truth that grow up to be unsuccessful, because they’ve been fed lies that they believe are true. This is why the best way to help your team members become better, is to offer the truth – no matter how hard it is. By covering up the truth with a lie, you are doing them a disservice and preventing them from improving. You are acting no better than a hater, by keeping them where they are.

Snowflakes Melt Under Pressure – Don’t Be One of Them

Another saying that I learned from my mentor Dan Pena is the quote “Snowflakes melt under pressure”.

There are certain issues that exist today that didn’t exist a few decades ago. For example, some people are very sensitive to negative stimuli or pressure. When people use profanity, they get deeply offended or refuse to listen at all. They feel as though they are being personally attacked, and get ‘triggered’ as a result of other people’s words or actions.

This is what Dan Pena means by “Snowflakes melt under pressure”. Life is tough and pushes everyone around. Sometimes those pushes are gentle, and sometimes they are very rough. People that cannot tolerate what life throws at them, are doomed to melt from the pressure. The only people who can become successful, are those who can endure life’s lessons and take what is thrown at them without reacting. And if you are a snowflake – something that melts easily under high heat or pressure, you will not succeed.

Being Non-reactive Is The First Step Towards Achieving Success In Life

Think about it like this: Why do you allow yourself to be influenced by negative stimuli?

I know many people that get offended by profanity and have commented that I should stop swearing. And occasionally, some bad words may slip out of my mouth when I am passionate and trying to make a point. However, to people that get offended by the slightest amount of swearing, my question to you is why does it offend you?

If you want to become successful in life, you have to take control of it. That means you cannot make excuses, or blame others for your failures. If you are someone that gets offended by swear words, ask yourself why you are offended in the first place.

Most likely if you get offended by certain things such as profanity, it is because you are allowing it to offend you. Remember that there are certain people who get offended, and others who could not care less. What separates you from these type of people? Why do you allow yourself to become offended – and if that is the case, do you like that it offends you?

When someone swears and you become offended, that is a reaction. You are reacting to the actions of someone else, and allowing it to influence you and take control of your life. Unless you learn to control your own emotions, you will always be at the mercy of other people. They will push you around against your will, and you will always be a slave to their words.

An Inside Look At A High Ticket Closer’s Mindset To Achieve Success

A High Ticket Closer is someone who understands and embraces these principles. They acknowledge that they are not perfect, and that they have flaws. In order to become the best version of themselves, they are committed and willing to do whatever it takes to get there. That means putting aside their ego, and allowing others to point out their mistakes. A High Ticket Closer understands they need to wholeheartedly embrace constructive feedback so they can improve. Only by acknowledging and correcting your mistakes, can you truly improve and become better. That is the secret behind how to become successful in a very short time – because you are willing to do what no one else will.

That’s why when our community of closers hops on calls and practices roleplay, they understand they are there to learn. That means putting aside their ego and emotions, and focusing on what matters. No matter how good they may be, there is always something new they can learn. A High Ticket Closer’s mentality is to continuously improve not for a day, month, or year. A High Ticket Closer is committed to continuous improvement for their entire lifetime.

How A Tiny Caterpillar Becomes A Magnificent Butterfly By Embracing Hardship

Opening yourself up and allowing others to point out your mistakes is not easy. In fact, the learning process can be quite painful. Imagine for example, that your team members are like tiny little caterpillars. They go through life not knowing anything besides crawling around and munching on leaves. The only way for them to travel, is to crawl around slowly – making them an easy target for predators like birds.

But overtime, this caterpillar will grow larger and larger. And one day, it will decide it has had enough of eating leaves and going through life at a caterpillar’s pace. So it does something unimaginable – it transforms itself. The caterpillar finds a safe place, hangs upside down and forms a cocoon, which it will stay in for weeks until it has finished its transformation. Throughout this process, the caterpillar disintegrates it’s entire body and tissues until it becomes entirely liquid, then re-creates itself.

After a few weeks, what emerges is no longer a small, tiny leaf munching caterpillar. What emerges is a beautifully winged butterfly, who is free to spend the rest of its life soaring above the ground it used to crawl on. It grows distinct markings and colors to scare off predators, and no longer has to live in fear of them. It’s wings allow the butterfly to access a variety of better tasting foods, such as sweet nectar from flowers, and explore lands it would never have been able to visit before.

The small tiny caterpillar has completely transformed itself into a magnificent butterfly. And as a result, it no longer has to crawl slowly on the ground, living in fear of predators and eating dry bland leaves. It now has the freedom to take flight and does so proudly – displaying its wings and colors, and leaving behind it’s old life and image.

The Secret To High Performance Is Simpler Than You Think

To become the best version of yourself, you must be open to receiving constructive feedback.

High performers understand that they are not perfect. The most successful people hire coaches to help them see their mistakes and flaws, so that they can improve upon them. Only by being brutally honest, can you truly strive to make progress and become the best version of yourself.

That means you must do the same for others as well. Being afraid to hurt your team members’ feelings only harms them in the long run. Lying to make them feel better will only work to give them a false sense of achievement. If you truly have their best interests at heart, you will be honest with your opinions.

HTC students are trained on systematically providing constructive feedback so they understand how to be both the teacher and student. In doing so they learn how to listen more attentively and effectively communicate with substance and influence. If this is something you want to learn, reserve a spot now to watch this introductory masterclass.

Why “B Players” Are Dangerous For Your Business

January 3, 2020 by Dan Lok Leave a Comment

One of the biggest mistakes business owners make is underestimating how dangerous their team’s B players are for their business. B players can prevent your business from reaching its growth potential, and can also prevent your business from scaling.

The problem is that many business owners don’t have high enough standards for their employees, so they think of B players as being “good enough”, and they trust B players with critical responsibilities. These critical responsibilities are duties that can negatively affect the business if done incorrectly, which is why only A players should be entrusted with these responsibilities.

Most businesses have a team that is comprised of A players, B players, and even a few C, D, or E players. Unfortunately, it’s common for only 10% of a team to be top-performing A players. Around 20% of a team will be comprised of C, D, or E players who should have been let go ages ago. Does that sound familiar? This means that at least 70% of your team is comprised of B players.

Business owners typically pay the most attention to the top 10% performers on their team (the A players) or the bottom 20% (the C, D, and E players) while the B players get ignored. Is it dangerous to ignore your B players? Yes. We’ll get to that later. First, let’s discuss what a B player is.

What Exactly is a B Player?

The best way to explain what it means to be a B player, is to compare a B player to an A player. An A player is easy to spot on your team. The coveted A players are noticeably ambitious, self-motivated, proactive, self-reliant, and known for their consistently high energy and peak performance. A players are the winners on your team, and they don’t go unnoticed.

B players need more micromanaging and external motivation in the workplace, as they have trouble with self-motivation and self-discipline. B players are decent at their job and do some things well, but you can’t rely on them to take your business to the next level.

Their work will be fine – sometimes it’s even good – but it won’t be great. If you want great, you need A players.

Think of it this way: The “B” in “B player” stands for bare minimum. Many of them do an okay job, but it’s rare that they’ll do much more than the bare minimum. In other words, it’s rare that a B player will exceed your expectations.

A players, on the other hand, are known for not just meeting expectations but exceeding expectations. A players go above and beyond what’s in their job description.

On the other hand, B players will say things like, “That’s not in my job description” which is an indication that they want to get away with doing the bare minimum – nothing extra.

B players tend to be quite lazy, and they prefer to stay in their comfort zone. This means they will rarely ‘think outside the box’ and get strategic to solve a problem. A players understand that they often have to leave their comfort zone to solve big problems. A players are also much more motivated to solve problems because they strive for greatness.

B players are less ambitious. B players also tend to make excuses for poor performance rather than taking accountability like an A player would.

Why Do B Players Fly Under The Radar in the Workplace?

One of the reasons why B players are dangerous for your business, is because they tend to fly under the radar. They get away with being mediocre because they just barely meet expectations by doing the bare minimum – and they do a decent job, so they often go unnoticed.

B players fly under the radar because they don’t make waves. They don’t make serious mistakes, nor do they achieve anything seriously outstanding. They hide out in their quiet comfort zone of mediocrity. And mediocrity is dangerous. Nobody wants a mediocre business.

Remember how earlier, I mentioned that business owners typically pay the most attention to the top performers on their team (the A players) or the bottom performers (the C, D, and E players)? This is largely why B players in the workplace get ignored, and this is why they get away with their inferior performance.

B-Players Often Repel A-Players

While you, the business owner, might not pay much attention to your B players for the reasons I just mentioned, do you know who does notice them? Your team’s A players. You see, the A players on your team get frustrated with the B players’ level of mediocrity. This is dangerous, since you want to keep your A players happy.

Your business could be in serious danger if you lose your A players. The problem is that A players want to be around other A players. They don’t want to be working hard, and look over at a B player playing a game on their phone or taking a sip of a beer.

B players can also damage your business by repelling A players who may have otherwise been interested in working for you. It’s harder to attract A players to work for your company if you have a lot of B players on your team. A players attract A players. Remember that.

Can You Turn B Players Into A Players?

I know what you’re wondering. You’re wondering if you can turn your B players into A players, instead of letting them go. Unfortunately, most of the time, it’s too costly to try to turn B players into A players. It’s a wiser business decision to just replace them with A players, and it’s typically more cost-effective, too.

Janine Popick, co-founder and CMO of Dasheroo, told Inc, “You’ve got to nip your B-players in the bud. Either get them to “A” status by coaching and mentoring them, or cut them loose. You don’t want to look back and think about where your business ‘could have’ been.”

My advice would be to only coach and mentor a B player if you truly see potential in them. You should also ask yourself, what is causing them to under-perform? Is it laziness? Ego? Fear? Mindset? Can you change them? You have to figure out if it’s a personality issue, a behavioral issue, or a capabilities issue. None of these can be easily changed, but of the three, it’s easiest to change a capabilities issue with coaching.

Sometimes you can change their mindset to think more like an A player, but sometimes you can’t. Sometimes B players have deep-rooted issues and they are a long road away from being ready for change.

You should only give a B player about six months to improve before sending them packing. I’ve seen B players turn into A players with the right mentor, but it’s rare.

In other words, coaching a B player and turning him or her into an A player is the exception, not the rule. Once you do a cost-benefit analysis, you’ll probably realize it’s better to just let your B players go.

When Should You Let Go of Your B Players?

When is it time to fire your B players? As Larry Yacht, former Navy SEAL and co-founder of Plan Sight says: “The answer is Yesterday.” Yacht says, “I have never been in a situation where I have decided it’s time to let someone go, and not realized I should have let them go weeks ago. If you ever ask yourself if you should let someone go, the answer is that you should have let them go yesterday.”

I’ve personally have learned how toxic and destructive just one bad apple in an organization can be. B players typically know they’re getting away with under-performing, so they know it’s only a matter of time before they’re fired.

It might be a relief for them to be let go. Perhaps your requirements outweigh their capabilities, which has been causing them stress for some time.

Perhaps they’re just not cut out for the mission you had hoped they’d successfully embark on within your organization. You wouldn’t send one of your team members on a dangerous mission knowing they’ll fail, because if they fail, it puts the whole team in danger.

It’s better to just cut ties. The sooner the better.

Why You Shouldn’t Be Afraid to Get Rid of B Players

It’s not always an easy decision to let employees go. However, as a leader I have to make these decisions all the time. I have to fire people. It’s often not a popular decision. Any type of change causes conflict because many of your team members won’t like the change. But don’t worry – they will adjust.

Larry Yacht explains, “We are conditioned to be lazy and to not like change. We want to conserve our resources, which is why we often want to keep someone around instead of letting them go. Any change will require mental resources, physical resources, costs and conflict.” Yacht also explained that he tends to analyze the problem with the employee or contractor in question. If he finds that it’s a capabilities issue, he asks himself, What’s the cost to improve their capabilities, and is it worth it?

You have to focus on your business goals, and stop accepting less or settling for less. Have higher standards for your business, and figure out ways to attract more A players. You business will have a higher chance of survival if you attract more A players. According to the U.S. Small Business Administration, less than half of small businesses will survive 5 years, and only one-third of small businesses will survive 10 years.

Speaking of your business’s survival, you can never put B players in charge of sales. They aren’t ambitious enough to feel the need to beat sales targets. They’ll be happy if they just barely meet those targets.

Chances are, replacing three B players with one A player will leave your business in a better position. Your business will then have the potential to be great. I know it’s a hard decision, since some of your B players do good work sometimes. John D. Rockefeller, one of the wealthiest Americans in history, famously said, “Don’t be afraid to give up the good to go for the great.”

Hire More A-Players in 2020

If you want to see your business achieve more success, one of your New Year’s Resolutions should be to hire more A players in 2020. You need to replace your B players with A players.

Serial entrepreneur Jon Soberg once said of B players: “Every person you hire who is not a top player is like having a leak in the hull. Eventually you will sink.”

You don’t want your business to sink, do you? Luckily, the A players you bring on board will quickly patch the holes your B players left behind.

You may be wondering how to attract more A players. The thing is, just like closing big business deals requires the skill of closing, so does closing A players. You’ll need to be a great closer to convince a multitude of A players to work for your company. If this is your goal, it might be time to upgrade your closing skills.

If you want to master the art of closing in order to close more A players to work for you, and to close more business deals, watch my free training on High-Ticket Closing here. Your business can skyrocket in 2020 if you commit to your success.

Team Management

Should You Even be Focusing on Team Motivation During a Crisis?

1. Put Your Team’s Safety First

2. Don’t Pretend That There’s No Fire When Everyone Can Smell the Smoke

3. Be a Conduit For Your Team’s Concerns

4. Employee Engagement is Still Key

5. Be a Leader of Leaders

6. Deal in Hope Rather Than Despair

7. Check-In Often so They Don’t Check Out

8. Lead by Example

9. Remember That Every Crisis Ends

10. Learn From Other Business Owners and Entrepreneurs

Team Motivation: Be a Leader They Can Follow

Problems Originate From Poor Communication

Poor Communication Means Poor Sales

Conviction Drives Business Forward

Feeling Uncertain About Your Business?

How a Bad Business Partner Creates Resentment and Kills Business Potential

When a Prosperous Business Partnership Suddenly Turns Sour

The Risks of Starting a Business With a Family Member or a Friend

When Your Business Partner is Strictly Business

Making The Difficult Choice Between Leaving The Business or Fighting For Control

How a Royalty Agreement Allows Both Partners to Remain in Control

When You Can’t Reach an Agreement, Let Your Employees Make The Decisions

Getting Out of a Bad Business Partnership: What’s Next?

Learn From Your Failures: Don’t Be Haunted By Them

A 4 Step Process To Getting Out of A Bad Business Partnership

1. Get Clear On What You Want Out Of It

2. Look At Your Partnership Agreement And The Business

3. Create A Legally Binding Agreement For The Breakup

4. Go Your Separate Ways

Your Failures Only Make You Stronger

The Foundation Of Optimizing Task Management

Create A Structure

Hire The Right People

The Structure Of Effective Task Management

1. Establish An Outline For Your Projects

2. Categorize And Prioritize Tasks

3. Create A Schedule

4. Delegate And Assign Tasks

5. Establish Effective Communication And Coordination

6. Track, Analyze And Improve

Constructive Feedback vs. Criticism – Why People Mix It Up

The Good, The Bad, And The Good

Resolve Conflict By Putting Yourself In Their Shoes

How Roleplaying Can Help You See Different Perspectives And Resolve Conflict

Why A Bitter Hard Truth Is Infinitely Better Than A Sweet Sounding Lie

The Concept of Tough Love And Why It Is The Best Form Of Constructive Feedback

Snowflakes Melt Under Pressure – Don’t Be One of Them

Being Non-reactive Is The First Step Towards Achieving Success In Life

An Inside Look At A High Ticket Closer’s Mindset To Achieve Success

How A Tiny Caterpillar Becomes A Magnificent Butterfly By Embracing Hardship

The Secret To High Performance Is Simpler Than You Think

What Exactly is a B Player?

Why Do B Players Fly Under The Radar in the Workplace?

B-Players Often Repel A-Players

Can You Turn B Players Into A Players?

When Should You Let Go of Your B Players?

Why You Shouldn’t Be Afraid to Get Rid of B Players

Hire More A-Players in 2020

I hope you enjoy reading this blog post.