• Work Hard: Eradicating Entitlement Mentality

Entitlement mentality—the kind of thinking that arrogantly refuses to adopt a strong work ethic to achieve success—can cripple businesses.
Nevertheless, many companies fail to thrive because, while business owners may strive for excellence, if they do not expect the same standard of each employee, the entire company suffers.
Some disown this responsibility by awarding everyone—even by giving a “last place ribbon” to those who, essentially, have not met the highest standards. This not only establishes a false sense of security for those who do not actually earn their awards, but communicates to them that they are not expected to work hard.
This creates a disastrous scenario for employers because now their employees—regardless of the quality of work produced—will expect generous rewards. Entitlement thinking breeds a culture that works less but demands more. It caters to an unrealistic neediness in people who expect, but don’t want to work.
The solution is to align with people who are producers: those with a strong work ethic who enjoy working and recognize that rewards are concomitant to hard work. Producing, for them, is exciting not only for the rewards they may receive but also for the true self-esteem it builds by establishing personal growth and a sense of worth.

• The Necessity of “Ownership Thinking”

According to Brad Hams in Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit, “Ownership Thinking” is essential to a company for the primary purpose of creating wealth.
Ownership thinking, however, isn’t just for management; employees must be taught and held accountable for wealth creation. To do this, everyone in the company—from the top down—is invited and encouraged to be “active participants” in the company, taking responsibility not only for the company but also, in Hams’ view, for the employees’ role within that company.
When the team knows its purpose, every member can work together to achieve a common goal.
To do this, Hams encourages business owners to consider the typical mindset of most employees; the average employee cares most about her salary, benefits, specific job duties, security, recognition, as well as how the company’s environment factors into her well-being and long-term goals.
This kind of thinking—although mainstream—doesn’t facilitate the strongest small businesses. Each person is out for her own good rather than the company’s.

Hams argues that for companies to “create wealth and extraordinary organizational cultures,” employees must align more with management thinking:

1. Profit generating: The company’s revenue must be greater than its expenses.
2. Understanding Cash Flow: Although a company can look profitable on the books, it could be struggling due to insufficient cash.
3. Risk-taking: Oftentimes, business owners have their personal wealth on the line.
4. Competing: Can the company compete with others in the same market?
5.  Managing Employees: From hiring and training—and related psychology and legal issues—employers have people to manage effectively.
6.  Controlling Costs: Employers have to balance costs to achieve their top priority of profit generating.
If employees are empowered to engage in management-level thinking, they’ll rise to the challenge.
In the next several newsletters, I’ll discuss with you how Hams creates a structure for “Ownership Thinking,” along with how other experts in the field support his theory.

• Anybody Could Have Done It

A few weeks ago I had someone share with me that they felt the cost of a business coach was too expensive. That could be right, but it also depends on whether they are doing the work for you or if they’re guiding you to make profitable changes.

Here’s a short story I want to share. If these people are working for you, I believe it would be profitable to make changes regarding how to hold others accountable.

This is a story of four people named Everybody, Somebody, Anybody, and Nobody.

There was an important job to be done and Everybody was asked to do it.
Everybody was sure Somebody would do it.
Anybody could have done it, but Nobody did it.
Somebody got angry about that because it was Everybody’s job.
Everybody thought Anybody could do it, but Nobody realized that Everybody wouldn’t do it.
It ended that Everybody blamed Somebody when Nobody did what Anybody could have done.

– Unknown

To get a no obligation consultation on accounting and small business solutions email me at dboyd@dlbconsulting.com or call 602-703-4285.
Debra L Boyd
DLB Consulting, LLC