Sure you’ve heard it at every goal setting session you’ve attended. Celebrate WINS. .
But do you know why it makes you a better leader?
If you pay lip service to your team’s successes without recognition, what does that say about you as a leader? How do you think employees feel about a leader who doesn’t appreciate their efforts? Those perceptions may also reflect on the company’s ability to attract and retain the talent it needs. We lay out the reasons for you here. Add your thoughts in the comments!
So here’s our top 7 list of WHY leaders should celebrate wins.
Reminds you why the goal was important in the first place.
When people apply themselves to the task at hand, they may forget why it was important at all. Taking time to celebrate the win reinforces the WHY behind the activities
Reminds you that a good goal setting process works.
Success inspires individuals to repeat actions that led to the success. Setting and achieving goals at work can encourage your team to set other personal goals.
Motivates your team.
Lack of employee motivation is often blamed on the employees themselves. Most of the ownership for a poorly motivated team lies with the leader. Celebrating wins helps the team see they are part of the solution and can engage their discretionary effort. They’ll be even more productive for the next round of projects. A team that works together to achieve a common goal can help address interpersonal conflict, reminding them to get along and that all their talents contribute to the team’s success.
Forces your team to focus on the positives.
It’s human nature to dwell on the negatives or the missed targets. Celebrating wins forces the team to see the successes and puts the learning moments in context of the wins.
Builds momentum for you and your team.
Small wins lead to bigger wins. Once a team hits a winning streak, they’re more likely to persevere through obstacles to keep the winning streak alive. This builds a success mindset. Breaking milestones into smaller goals allows momentum to build with a series of small wins.
Gets you away from the “meh” of the day.
Most of our days are filled with mundane tasks and routines. Celebrating wins is a cognitive break and sparks positive neurological activity with renewed positive energy. Happy chemicals such as dopamine are released when we celebrate. Let’s have a little fun! As a leader, most of the interactions with the team are in a leadership / supervisory manner. During a celebration, your team members can get a glimpse of the “not work” side of you. It just plain feels good to celebrate wins!
Allows you to recognize specific employees.
When you’re clear about an individual’s contributions including deadlines and targets met or exceeded, you can reinforce the kinds of behaviours the company values. This shows the other team how they too can be recognized.
As quickly as you can, without thinking, jot down everything that ENDED in 2018. What was over? What did you give up on? What did you just plain STOP doing? What habits did you break?
Make another list. This time jot down everything you STARTED in 2018. What began? What new habits did you adopt? What decisions did you make? What relationships started
Which list makes you happiest? Why?
We are HUMAN BEINGS. We are forever in the process of becoming the being we were meant to be. We are getting closer and closer to fulfilling our life’s purpose.
As one year comes to an end, reflect on the achievements, however big or small they may seem. Dedicate some time to creating a list of 10 or more positive, affirmative statements that you are becoming in 2019. We spend a lot of time between the beginning of our life and its end. The in-between is where we live.
I am becoming _____________________________________. Stake your claim. Close some doors and open others. Some things need to end to make room in our lives for new things.
Post these statements where you can read them everyday. Some people write them on the mirror in their bathroom. Others post on the fridge. Others put the list on their screen saver.
Read these statement aloud every day with excitement and action. It really works.
“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.”… Ghandi
A lot of self-employed individuals never give a thought to succession or sale of their business. Often sacrificing resources, personal relationships and health to grow a successful consultancy or practice, the end of the business arrives with little fan fare and, unfortunately, often without their families by their side. It doesn’t have to be this way!
I’m using a parent – child analogy to illustrate the 7 keys. Even if you are not a parent, at one time in your life, you had parents or caregivers who looked after you and raised you until you become 18. The “coming of age” is a similar process to starting up a business and growing it to the point of “18” – with grown up responsibilities.
7 Keys for Succession or Sale:
Prepare for the experience from day 1. Keeping in mind that one day you will not be around, you have a vested interest in getting your business to the point where it can run without you. Just as newborn babies enter the world, fully dependent on their caregivers for survival, so too is your newborn business fully dependent on you. As entrepreneurs, self-employed or otherwise, by treating our business as an asset that can appreciate in value and become an asset we will sell, we hold different beliefs, we take different actions and we generate different results. Consulting and service businesses can be sold!
Make yourself dispensable. My Mom would often quote de Gaulle, “the graveyard is full of indispensable men” whenever I thought that I was too important to a project, task, employer or client. These few words are powerful reminders of our mortality. The sooner we get our children skilled and capable, the better off they’ll be if we are no longer in their lives. The same is true for our business and our employees. The shorter the timeline to get systems in our business so it can be run by employees independently of the founder, the less the business is at risk should the founder be unable to contribute. Then you can take vacations or spend your time as you enjoy.
Diversify. Small businesses are riskier than larger ones because they have too many eggs in one basket: dependent on one employee, customers in one market (industry, geography, etc.), or too dependent on one supplier. Diversify revenue streams, markets you serve, suppliers you use, employees you hire, etc. Diversification is one of the keys to building value and attracting better offers.
Shine up your Crystal Ball. Your crystal ball may be rusty, but getting a successor or potential buyer excited about the future of the business is critical. Excited buyers will pay more for the business and successors are much more likely to be motivated in taking over the business when they see a bright future. Encourage them to take the business to new heights, point out areas where you see opportunities for more profit and fun with the business, invite their suggestions for growing the business.
Accept that your way is only ONE way, not THE way or the RIGHT way. When you recruit or identify potential successors or potential purchasers, delegate accountability to them in decision making and achieving goals for the business. This is a significant way to remove yourself from day to day operational decisions while maintaining your focus on strategic decisions to move the business forward.
Plan the Transition Experience. Transition from one owner to another is an experience rather than an event. Many transitions fail when done too quickly, especially if the organizations are small without sufficient resources to invest right away. Over time, best practices, client specific knowledge, supplier details and details about “how we do things around here” are transferred to the new owners.
Develop a Marketing Plan. You have marketing strategies, collateral and plans for the products and services you sell in our business. Your business itself is another “product” you are selling. It needs its own marketing plan – complete with lead generation strategies to attract the ideal buyer, an efficient and effective sales process, aids such as brochures, financial information, and business at a glance overviews, legal agreements to take you from letter of intent through to offer and due diligence phases. Even when successors are internal, you need a marketing plan and a pitch to close the deal.
Book your time to chat with our advisors about building your succession and business exit plan.
You feel lied to, deceived, betrayed. They said it would be easy and fast. But making money from consulting or coaching has been anything but easy. Instead, you’re exhausted, discouraged, disillusioned. You feel like you’ve failed yourself and your family. You’ve poured your heart and soul into creating your programs and courses. Your friends and family said it was a great idea. Your awards and accolades attested to your expertise in this field.
But when you opened your online shopping cart, they didn’t buy.
Everyone keeps saying, “Facebook is the place to sell. It’s like printing money.” And so you created your ads. You gave it 3 months and a modest ad budget… only to get just a handful of clients.
That was nice.
But not enough. Not nearly enough. You’re not quitting your day job yet.
Are you ready to start your consulting or coaching business? Are you ready to sell courses and programs?