If you are just getting started with The Great Game of Business, let me begin by saying that last year I was you: sitting in the audience at The Gathering of Games, at the beginning of our Great Game journey. Fast forward a year, and we are a 2018 All-Star Rookie of the Year finalist.
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I remember vividly that moment, after many months of management team discussions, when we finally pulled the trigger. We knew that committing to practicing the Great Game of Business would be transformational for our business, but like any change, it was new and scary. We were all very excited, but also nervous and dare I say a little apprehensive. What if the time commitment is too great? What if our team members don’t embrace this new way of thinking? What if it just doesn’t work? BUT WHAT IF IT DOES!?
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“Alright, stop. Collaborate and listen.” - Robert Van Winkle Amy’s Ice Creams is back with a brand-new invention. As open-book management businesses, we know that when we harness the wisdom of our team, stick to an empowering vision, and measure progress, no problem is too hard to solve. But ask yourself this, “what problems should your team focus on?” There is a plethora for company leadership to choose from, but sometimes the right issue is hard to find.
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Everybody loves a great story. So what’s yours? The benefits of good storytelling ripple out from gaining exposure to new customers, partners, and even employees—all of whom may be inspired to join your cause. Your story should be part of your brand and, at a minimum, be part of your website. But you don’t have to stop there. You can also use your story to connect with the media, or as an internal tool to help on-board new employees to help them understand what your company culture is all about.
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Front-line employees often see obvious ways to affect Critical Numbers, but we want them invested beyond the obvious and think like owners. We teach the employees at our restaurants to use MiniGames™ to improve aspects of performance that would not otherwise receive focus.
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Bogged down with resistance to change? Having a hard time promoting your business as a promising place to work (aka hiring challenges)? Moving your business to the next level starts with a positive work culture. You can give your employees a voice and make noticeable improvements in your company’s culture (and bottom line!) by focusing on four objectives and the concept of “Culture Teams.”
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At the end of the day, can you declare victory within your business if the only thing you accomplish is making a profit? For me, the answer was no, but I worked for a nonprofit - Big Brothers Big Sisters of the Ozarks. Not-for-profit organizations like ours are typically created because there is not a market for their services in the private sector. They exist for more than just making money, but I couldn’t help but wonder whether other companies exist for reasons like this as well. Some call it their “noble cause,” others call it “triple bottom line,” but typically successful open-book management companies know their “why” and have a Critical Number TM tied to it.
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When you’re planning a MiniGame™, you’re most likely starting with a goal in mind, whether it’s reducing an expense, increasing a sales number or even replacing the toilet paper roll (hey, MiniGames can target any area that needs addressing!). It’s usually easy to find something you want to improve, but building a MiniGame that will drive those results takes some fun – and some finesse. We may be a two-time All-Star Award winner, but not all our early MiniGames were successful. Even a few years in, we had to step back, review and reinvent our Game play to reset and reinvigorate our results. Here are a few tricks we’ve learned along the way.
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Do you wish you had more money, fewer employee issues, and the freedom to be able to go home at the end of the day without thinking about problems? Wow! Just the idea of that sounds too good to be true, doesn’t it? Unfortunately, many business owners are in tremendous debt and feel like their businesses are squeezing the life out of them. That’s how I used to feel, but I discovered that the business will provide excess cash, a peaceful work environment and personal freedom when a business is healthy and functioning as it should.
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(reprinted with permission from NCEO.org) ESOPs can be an ideal business transition solution for many business owners, providing a way to preserve their legacy with employees and the community, get a fair price, retain a role in the company if they like, and get unmatched tax benefits in the process. But while ESOPs are not right for many companies, over the years, we at the NCEO have heard a lot of unconvincing or downright incorrect reasons not to do an ESOP. Unfortunately, too many business owners decide not to do an ESOP based on these bogus rationales. Here at the NCEO, our goal is not to convince anyone to implement an ESOP but to help people make a well-informed, sensible decision. With that in mind, below is a list of twelve reasons you might have heard about why not to do an ESOP that are just wrong, followed by seven very legitimate ones.
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