Micro Ownership: A New Way to Motivate Employees

Welcome to a new episode of Business Lunch! In this episode, hosts Roland Frasier and Ryan Deiss explore an innovative "micro ownership" concept that allows teams to bid on improving specific business metrics. The strategy aims to inject entrepreneurial spirit into organizations by giving teams the opportunity to take ownership of key performance indicators, with potential financial rewards tied to their success. Highlights: "We wish that our employees acted more like owners." "It's designed to create this result." "Identify three to five key metrics that directly impact profit." "How do we inject some entrepreneurial life into companies?" Timestamps: 00:00 Introducing Micro Ownership 03:07 Discussing the Founders' Board Member's Idea 06:11 Employees Acting Like Owners 07:26 Identifying Profit-Impacting Metrics 10:15 Initial Thoughts and Potential Challenges 12:20 Developing a Bidding Mechanism 14:21 Bonus Distribution and Team Incentives 17:47 Potential Consequences for Not Meeting Goals 19:24 Maintaining Entrepreneurial Spirit in Growing Companies CONNECT  • Ask Roland a question HERE. RESOURCES: • 7 Steps to Scalable workbook  • Get my book, Zero Down, FREE To learn more about Roland Frasier 👉  https://msha.ke/rolandfrasier/ Connect with me on social: 🎵 TikTok:  / rolandfrasier    📸  Instagram:  / rolandfrasier   📱 Facebook:<a...