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Building a Business of Businesspeople at Netflix

Nov 5, 2019 by Rich Armstrong 0 Comments
Few companies have exploded onto the scene the way Netflix did in the late 1990s.  Perhaps more impressively, the company beat back an 800‐pound gorilla called Blockbuster Video on its way to radically changing how many of us now consume TV shows and movies. What makes Netflix’s success interesting is how it managed to embrace several massive changes in its business model as it outmaneuvered its much larger rival. The first of those big shifts was when co‐founder Reed Hastings decided that Netflix would begin offering monthly subscription plans to its customers where they could rent as many movies as they liked for a flat fee. Even more radical was the notion that it would also eliminate late fees—which made up a large percentage of Blockbuster’s revenues. But pivoting like that promised to not only disrupt Blockbuster—it might also rattle Netflix’s employees, causing them to wonder if the new business model would work. How could they pull everyone together and get them to believe this was the best strategy moving forward?
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The Secret to Creating an Ownership Culture: Hint—It's Not Just About Equity

Oct 29, 2019 by John Williams 0 Comments
Ownership Advantage: Financial Literacy is Key  to Creating an Ownership Culture Over the years I have talked to several business owners who want their employees to think and act like owners. They want them to be engaged and passionate about their jobs. They want them to enjoy coming to work. These owners often see setting up an ESOP as a way to change the organization’s culture and instill the aforementioned traits of thinking and acting like an owner. Two or three years later, I talk to some of the same owners, who at one time saw the ESOP as a cure for their culture problems and now are blaming the ESOP and the employees for their inability to create an ownership culture. They say: “I started this ESOP thinking that it would make all my employees care about their jobs. It hasn’t done anything. In fact, their behavior is worse now.” One would ask: “Why is it worse?” The answer is that these owners were using leadership to manage employees before the ESOP and after the ESOP they quit leading and managing them at all because they thought the ESOP would do this for them. I’ve heard of several cases like this. So, if the ESOP is not going to be the magic potion, what is?
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How One Company Saved $270K in MiniGames™ & Educational Training

Oct 25, 2019 by Lauren Haley 0 Comments
Giving employees equity is one thing. Getting employees to think and act like owners is an entirely different story. That’s why SRC Holdings Corporation has an Ownership Culture Committee (OCC) responsible for challenging each company to stay true to the principles and practices of The Game and spreading the culture of ownership to every employee in the SRC family of companies.   With two major changes in leadership, a dip in the core business, and no sales manager, SRC Logistics, a division of SRC, knew 2019 would hold its challenges. In order to meet their annual plan and the metrics they needed to have a successful business year, their five-member Ownership Culture Committee helped facilitate MiniGames™ across all departments, provide educational trainings, promote cost savings and revenue opportunities, and ultimately close the gaps and have a successful 2019 year. Here’s how SRC Logistics turned their year around:
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5 Golden Rules of Teaching Financials to Employees

If you approached an employee at your company and asked them who creates the financial numbers in your company, what would they say? Odds are, they’d probably point to the accounting department. Sure, accounting has a lot to do with your company financials, but they don’t really create them. Your employees create the financials through the decisions they make and the actions they take. So how do you help your employees understand their part in creating the numbers and how their actions can affect those numbers? We recommend you follow the five golden rules of teaching employees about company financials:
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Are You Too Afraid to Open the Books?

If you are reading this and haven't already "opened the books" to share company financials with your employees, my guess is it's because you are scared. What are your real concerns about open-book management? Financial transparency in business is a concept so new, so counter to the way business has always been done, no wonder it scares people. Just the thought of opening the books is followed by a whole list of what-ifs. The thing is - it's not actually that scary when you break it down. Here are our answers when people hit us with the what-ifs:
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Why Has Profit Become a Bad Word (And What Can We do About It)?

Oct 4, 2019 by Darren Dahl 0 Comments
The word profit can mean many things to many people—especially in our current political climate. But for an increasing number of folks, profit has become a negative term—a dirty word—which has huge implications for the economic sustainability for businesses across the world.  At a time when company values and purpose have gone mainstream, and when even the Business Roundtable has begun prioritizing stakeholders over shareholders, the basics of what goes into making a profit has come under fire.
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To Teach the Numbers, Show the Human Story Behind Them

Oct 1, 2019 by Tom Strong 0 Comments
At the Great Game of Business®, one of the most common questions we coaches get tends to go along these lines: “I’d love to open the books and share the numbers with my people, but I’m just not confident they have the education or training to understand them. How can I teach them the financials effectively?” In starting on the path of open-book management, many business and organizational leaders worry about this. Most employees at most companies have not had formal business education, and many may lack much formal education at all. So, it’s not unreasonable to wonder whether most employees will ever be able to understand your finances and business model. When my clients ask a question like this, I like to ask them in return: “Do any of your employees like baseball?”
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Empower Your Employees Through Knowledge

Sep 17, 2019 by Donna Coppock 0 Comments
Historically, businesses using traditional management styles have been reluctant to give all their employees the knowledge they need to make good business decisions day in and day out as they do their jobs. Open-book management takes a much different approach. It’s all about capturing and sharing both financial and organizational knowledge with every employee and empowering them to use that knowledge to contribute to the long-term success of the organization, as well as their personal success. The benefits of knowledge sharing are numerous, and here are just a few:
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4 Easy Strategies to Communicate Financials so Employees Can Understand

Sep 10, 2019 by The Great Game Team 1 Comment
When it comes to employees learning financials, it may seem overwhelming for those who don’t have a background in accounting or business. At first, nearly anything you say about the financials will sound absolutely foreign. So what can you do to break down this communication barrier? There are a number of techniques you can use when communicating the numbers to ensure everyone is on the same page. Here are four strategies to improve communication about financials with your employees:
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The Victory Mission Turning Business Around in a Non-Profit

Feb 22, 2019 by Rhonda Chapman 0 Comments
Charities are not like organizations in the private sector because they can’t just sell more widgets or raise their prices to improve the “bottom” line. The reality is that they have inflows and outflows just like any other business and do have a “bottom line", it just can’t be called the “p-word” (profit!).
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What Does Cash Flow Mean to Employees?

Feb 12, 2019 by Dave Scholten 1 Comment
When the company does well, our professional lives go forward. But when the company doesn’t do well, eventually, it will impact the employees. The most common employee response to a company failure is “we never saw this coming!” Over the last 10-20 years, we have watched large, successful U.S. companies enter into failure mode. It constantly hits our media networks. It’s painful to see the impact of this demise on the people who have committed their professional life to the failing company. The failure of the corporation never seems to be “fair” to these employees. So, it’s appropriate to propose that the company’s success has to be important to the employees.
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The Management Style Every Millennial Should Know

Feb 5, 2019 by Steve Baker 0 Comments
Amy’s Ice Creams’ workforce is made up primarily of millennials, most of which are seasonal employees. In the short time these younger workers are with Amy's, this Great Game All-Star company maximizes engagement in order to make a lasting impact on employees' futures, as well as the success of the business. Take a look at what Marketing and Communications Director, Aaron Clay, has to say about the company's fun, fast-paced and positive Huddles combined with open-book management, and his four guidelines for enhancing engagement in your team's Huddles.
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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.