Starting and running a business is hard. Don’t believe the old myth that with a few hours of work a day and a great web site, you can get rich while you sleep. I have found that the most successful entrepreneurs and business executives have an impressive work ethic, and they surround themselves with a team of comparable commitment. Business is more about people than product.
As an angel investor in startups, I often find myself looking harder at the quality of the team and the leadership, than at the details of the product and business model. I’m a strong believer that a great team can achieve success with a less impressive product offering, while potentially disruptive technology often goes nowhere due to a team with an uninspired work ethic.
The challenge for you as a business professional and leader is to develop the work ethic you need to compete, and to recognize the essential elements in every partner or team member you associate with. In my experience, and from the thoughts of others who have “been there and done that,” here is my list of the top elements you should be looking for:
Focused on customers and team, rather than “me, myself, and I.” The best work ethic for business is all about serving others, or win-win relationships rather than win-lose deals. These will provide the competitive edge you need with customers and less-focused team members. You need team members who genuinely enjoy delighting others.
Demonstrates an ability to listen and learn. Investors don’t fund people with large egos, and your business won’t thrive with similar people on the team. No single person knows enough to solve every problem in a business, so the best business executives are always anxious to listen and learn from others, especially mentors and customers.
Dependably and reliably delivers on commitments. Never makes excuses. People who always take responsibility for their actions are a joy to work around, and are appreciated by other team members and customers alike. As an investor, you can rely on these business people to do everything possible to deliver, despite unusual challenges.
Consistently professional in business communication. This starts with responding to phone calls and emails in a timely and professional manner, and extends to thoughtful and unemotional exchanges in all discussions, business or personal. For your own business, the right time to address expected norms is during coaching and before hiring.
Treats everyone with respect, and expects it in return. This also includes showing an understanding of the value of customers, and honoring the line between work and play. Investors read this as being trustworthy of their investment, and an appropriate role model for all business constituents. Solid relationships are critical to every business.
Shows initiative and enjoys giving more than receiving. Initiative is all about giving now and assuming a payback later, rather than the other way around. Of course, leaders need to encourage this action by making their objectives clear and rewarding results rather than effort. People with this work ethic are seen as ambitious and dedicated.
Always display confidence and a positive attitude. No business thrives with people who can only see the negatives and risks, or don’t have the confidence to believe in themselves. The attitude that people display is most importantly the outward expression of internal views. You need positives to radiate to the team, partners, and customers.
While there are encouraging signs that the work ethic in many businesses is improving, the latest Gallup poll still reports that almost 50 percent of employees are "not engaged" and 16.5 percent are "actively disengaged." Your challenge is to rise above these statistics by smart hiring, effective training, and building a culture of customer, society, and team focus.
Google, for example, has been recognized for years as fostering a culture and work ethic that gives them record levels of productivity, high customer satisfaction, and employees who are known to be driven, talented and among the best of the best.
Through this approach they achieved the early investor funding they needed, but more importantly they continue to achieve a level of business success and satisfaction that every business envies. Match their focus on work ethic, and you too can join them.
*** First published on Inc.com on 01/05/2017 ***