MBA1571 How Your Business Can Have Frequent Small Wins

Want to buy a car your way? Of course you do. That's why CarMax offers an experience designed just for you. Want to start online, then visit the lot, then go back online? Sure. Want to talk to a real person or chat online? Either works. Want to take your time and compare all the makes and models? No problem. Then make up some time by filling out the paperwork at home and schedule express pickup or home delivery. Done. When it comes to how you buy, CarMax puts you in the driver's seat. Want to drive? CarMax delivery restrictions apply. See CarMax.com for details.

Ready to save on new tech? It's time for Dell Tech Day's annual sales event, celebrating our customers with fantastic deals and benefits. Perks include Dell Rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster. And with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals.

Hey oh. Welcome to the $100 MBA show where your business gets better every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn how your business can have frequent small wins. Momentum in your business is vital to its success. Whether you're a small team of one or a team of a hundred, your team needs to feel like they're progressing, like things are getting better. And if wins in your business are few and far between, if they don't experience success, it can be incredibly demotivating. It can make them feel that their work is insignificant. That's why as a leader of your business, it's your job job to insert, to plan for small frequent wins, to make sure your team is experiencing success on a regular basis so they have that momentum, they have that encouragement so they can feel like, yes, we're winning. How do we do that? How do we set that all up and set that cadence and momentum? That's what we talk about in today's episode. So let's get into it. Let's get down to business. If you and your team do not experience success on a regular basis, things can get really hard and demotivating over time. I believe you should be celebrating wins every single week because success begets success. It's a sense of momentum. It's a sense of you are part of a winning culture. This is why I highly recommend whenever you do your weekly meetings or regular meetings with your team. You start with wins, and everybody goes around and shares their win for the week. Sometimes we need to remind ourselves of what a good job we're doing, right? The successes that we are experiencing. But as the leader of your business, you need to set up some goals and some opportunities for wins as a team. So, for example, at the end of the week, you might be meeting with them. Everybody on the team can say, yes, we delivered a win. We experienced a winner. We did something that makes us feel good and feel like we're doing significant work. This is where people really derive their job satisfaction and feel like, hey, I enjoy what I do because it has meaning. You need to organize that for them. So let's get into this. One of the easiest ways to do this is to set up weekly goals. So when you meet with your team, you should say, hey, this is your focus for this week. By next week, by the next time we meet, this is what should be accomplished. This is what you should have done. This is what a win looks like. Winning equals this done. And this sets them up to understand, okay, this is my focus is what I need to get done. If I do, I succeed. The point of this exercise is so that every week they can celebrate a win. You could feel like you're making progress as a business, and your job is to show them how that task, that weekly task that you put them on, impacts the greater goals of your business. The mission, the vision, your quarterly goals, all that stuff. So you need to have that in your arsenal. You gotta make sure that when you're meeting with them, you have that cadence. Hey, let's celebrate the win that you had last week for completing the task that we set up last week. What's this week's goal? What would be the win for next week? What do we got to get done? And how does it tie into the bigger picture? Now, what you'll see is that week after week, after the first month, you have four wins in a row. It creates a sense of momentum where you prove to yourself and the team what we can do great things. We can continue to deliver amazing work. This also, as a business owner, gives you the reassurance you are utilizing your team properly, that you're actually getting results. And you can measure against these results with KPIs for your business and each position. But the thing to remember is this doesn't happen by accident. You have to plan out these wins. You have to make sure that before your weekly meeting, before you meet with your team, this is what we're setting out to do. This is what we're trying to pull off. And what you want to do is that you want to have some options, but you don't have to set it in stone. You can present it to the team. Hey, guys, these are some of the challenges we're having. Which one of these do we want to attack this week? Which one of these do you want to take on? Let your team decide, but then they commit to completing it by the end of the week so that they get their win. The next thing is don't forget to celebrate win. So when you hit the win at the end of the week or the next week, when you meet, don't forget to praise, don't forget to have a little bit, play some music, maybe share some funny gifs or some celebration emojis in your chat channels or your slack channels. This is going to create a sense of pride and a culture of winning in your team, in your business. What this does is that it sets a precedent. So when anybody joins your team, they automatically feel like, wow, this company, all they do is win. All they do is they accomplish their goals. I like this. And this is the standard I gotta live up to. Now, I mentioned that you want to discuss with your team what the win, what the goal is for the week. Because you want buy in. You want people to really have ownership over what they're going after. Otherwise it's just not as satisfying. Also, people will have more of a drive to accomplish that win, to accomplish that goal. If they committed to it, they chose it, like, hey, we want to do this, let's do this. They all agreed, okay, now it's on them versus them being dictated what to do and saying, hey, you know, we didn't have enough time. Things came up. When it comes from them, it's their commitment. One of the things I also like to do is that when we do a monthly meeting, an all hands meeting with everybody on the team, we recap all the wins we had that month, the past month, four or five wins, one for every week. And we share with the, you know, the larger team. Look at this department. That's just killing it, right? Win after win after win. And just reminds the team, this is what you've done, great job, you are a winner. Right? That's a great thing to hear, especially from the leader of the company. And it's great to get, you know, that recognition from your peers in other departments. It also allows other people to understand, oh, this is what other people are doing to Help the company to reach our overall goals. We're all doing something. We're contributing in different ways. So definitely recap the wins. And in your all hands.

Okay, I have to tell you, I was just looking on ebay, where I go for all kinds of things I love. And there it was.

That hologram trading card.

One of the rarest. The last one I needed for my set.

Shiny like the designer handbag of my dreams. One of a kind. Ebay had it. And now everyone's asking, ooh, where'd you.

Get your windshield wipers?

Ebay has all the parts that fit my car.

No more annoying, just beautiful.

Millions of fines, each with a story. EBay, things people love. If you, your parent or spouse served in the military, you could join our family. Our members saved an average of $70 a month on auto insurance when they switched. Tap the banner or visit usaa.com join today to check your eligibility restrictions apply.

To wrap up today's lesson, you need to organize these wins for your team. You're going to thank yourself after you do this. For the first month, make sure that in your regular weekly meetings, you sit down with your team at least once a week and set the goals for the week. What is the win for this week? What are we going to make us feel good? You know, we really want to make sure that they understand that this is for them as much as it is for the business. If you meet with your team every single day, that's great. But set this up at the start of the week. Now, one thing we want to touch on is what if they don't hit the goal? What if they don't get the win at the end of the week? What do you do? Well, this is what we want to do. We want to make sure we debrief, we find out what happened, what blocked us, what stopped us from hitting that goal, and what do we need to do to hit it? This will allow your team to understand that we persevere. We go through these obstacles, and it gives you a chance as a team to discuss how can we prevent this from happening in the future? How can we make sure we make solid goals and that we hit our wins every week? So I highly recommend you address why you didn't hit the win and find out when you're going to hit the win, when you're going to actually accomplish this. Is it going to be another day? Another two? Do you need another week? Agree and set up that win, Set up that goal so people understand, okay, we're going to celebrate this day. Thank you so much for listening to the $100 NBA show. If you love what you hear, leave us an itunes rating and review. We'd love to hear what you think of the show by leaving us a review. You enter our weekly random draw we call Free Ride Friday. Every Friday, we give away a lifetime membership to one of our programs. Go ahead and leave us an ITUNES rating review right now. And you enter our weekly random draw. Just listen in on Friday to see if you won. It's that simple. It's our way to say thanks for showing us love on itunes. And while you're there, hit that subscribe button so you never miss an episode by hitting subscribe. The next episode, when it's available, is right on your device. Perfect. Thank you so much for listening. Before I go, I want to leave you with this. If you don't define success, if you don't define what winning feels like or what winning is, no one will. Okay? It's just not going to happen naturally or organically. You as a team need to set this up. Most of us fall into despair, fall in this feeling of not really making any progress because we never set up the goal posts. You need to make sure you define, hey, this is a win. This is how we score. Let's go for it. Thank you so much for listening and I'll check you in tomorrow's episode. I'll see you then. Take care. Of.