Mike Andes shares three practices that drove his success: living below his means to reinvest in his business, using pay-for-performance and open-book management so his team owns the results, and building a network by helping others succeed first.
Three things I did to become more successful were Number one, live below my means. I still drive a Honda Civic to this day and I lived in a closet for three years so I can invest all my money back into the business. Number two is make sure my team was rewarded when the business did better. We use pay for performance and open book management to ensure everyone has the information and the compensation of an owner. The harder they work, the more money they make. And number three is I made sure that others around me succeeded because enough people around me succeeding means I will never go hungry because I create a tribe around me that will pick me up when I'm down.
