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The Four P's of Success

5/6/2019

IZ Ventures infographic 4 elements of business success

We all say we want to succeed. There aren’t many entrepreneurs or leaders who go to work intending to fail. Yet, failure seems to find us while success eludes us. Jim Rohn encourages, "Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better." Anyone who tells you they have found the silver bullet of success has been drinking too many Silver Bullets. To help you narrow your efforts, we have found that in order to be competitive you will need people, processes, production and progress. If you can master The Four P’s of Success, you will be in a position to achieve your growth potential.

Key to Success: People

People. In a tight labor market, recruiting, developing and retaining good people is at the top of the list for a competitive advantage. The right people can make or break an organization. Yet, success with people is not as straight forward as simply finding and keeping the right people.

As Jim Collins noted in Good To Great, you need to get the right people on the bus [your organization] and you need to ensure they are in the right seats on the bus. When it is difficult to find people at all, growth minded businesses understand the value of investing in developing internal talent. Investing in the employees you have can produce significant return on investment.

Whether you are an entrepreneur or a person in a position of leadership at the helm of a large organization, attracting good talent starts with:

Have an identity. Why would someone want to work for your company? Create clarity on your vision and values.
Develop a process. What does it look like to be successful in your organization? Develop a system for determining talent.
Be open minded. When was the last time you went outside of the box? Be willing to take chances on people with the good qualities who may not fit the mold.
Patience is a virtue. Before you rush to discipline or termination, assess how well you and the organization have helped this team member succeed. Perhaps it’s time to fix the system.

Key to Success: Process

Process. Culture and systems have to be in sync with each other for a company to succeed. While culture is a hot topic, it is more about what an organization does than what it says it will do. It is important for entrepreneurs and leadership teams to review whether their processes are in alignment with their vision. If there are setbacks to growth, a good place to start would be in reviewing the processes that are in place. Developing systems helps to ensure that there is consistency in your organization. Clarifying expectations helps team members to understand what they need to do in order to succeed. Communicating processes that are consistent with the vision enable everyone to see where they can help move things forward.

Key to Success: Production

Production. A company has to produce goods and/or services. Having the right people and processes completes the cycle of needs to ensure an organization will create value through production. Production issues help to reveal shortcomings in processes. Often failure helps us to better see areas we can improve than success does. Be sure to embrace the opportunity to grow as a leader and a team. Production, process and people all work together to create progress. If you are struggling to make progress start to work backwards to determine areas that need to be addressed.

Here is a good resources from EOS on how to trace down issues and establish better meetings:

Key to Success: Progress

Progress. Having the right people, developing your processes and improving production are all keys to success. There is no guarantee for success. There are no short cuts to success. Leaders can learn a lot from gardening on how to cultivate a growing team. In an article published with Restoration and Remediation Magazine, we identified keys to change for withering grass, flowering weeds and crab grass within an organization. Like a flourishing garden, growth in an organization is attractive and creates a sense of pride. If we invest in our people, process and production we will find that progress is much more attainable. As the organization moves forward together it is easier to identify and address areas of the company that need to be adjusted. Progress is not perfection. Progress means we are gaining on our goals.

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Richard Bronson, From Felon to 70 Million Jobs

5/1/2019

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We often glamorize stories like The Wolf of Wall Street. Leonardo DiCaprio who plays the notorious ring leader of the Stratton Oakmont, Jordan Belfort. Stratton was expelled by the NASD in 1996. Belfort was indicted for securities fraud and money laundering in 1999. During it’s heyday, the company employed over 1,000 stockbrokers. One of these stockbrokers was Richard Bronson who shares his story in the video below. Bronson was charged with financial crimes and served two years in prison. As noted by the creators of the video, Freethink,

“While incarcerated, his eyes were opened to the inequities prisoners faced – and how daunting re-entry to society was. He decided to do something about it. He started the website 70 million jobs, with the aim of getting everyone leaving prison not only employment, but a career.”

The difficulty for felons to find a job

Finding a job can be difficult enough. Finding a job with a criminal record can seem almost impossible for most ex-felons working to reintegrate back into society. Bronson’s organization 70 Million Jobs works to be a reliable resource for those looking to improve their employment opportunities. Felons can find help with resumes and finding local job listings from companies ready to hire applicants with a criminal background. In and interview with Forbes Magazine, Bronson is asked why he believes that felon’s should be given a second chance. Richard responds,

Having lived with hundreds of men in prison, I observed that as people they were no better or worse than those I knew on the outside. Mostly, they were folks who had very few options in life, and followed the path that others around them were following.

Advantages of giving jobs to felons

In the article and on his organization’s website, Bronson notes that there are some advantages when employers take a chance on an applicant with a criminal background:

Structure: Ex-felons have been in a system where they are used to taking and following orders
Appreciation: They are in a position where they are appreciative for opportunities to improve themselves
Attention: They know the value of the opportunity and are careful not to mess things up
Retention: Recent research has found that employees with records are retained at higher rates than those without criminal histories
Recidivism: Nearly 80% of those released from jail or prison will be re-arrested within five years. Un-employment is a primary factor. People with jobs, on the other hand, almost never recidivate.
Bonding: The U.S. Department of Labor provides a Federal Bonding Program which provides insurance for at-risk employees for the first six months of employment at no cost to the employee or employer
Tax Incentives: Employers who hire workers with criminal records can reduce their federal income tax by as much as $9,600 per employee.
Community: Hiring returning citizens tells your employees and the cities and towns in which you do business that you care about providing second chances.

Providing jobs for felons reduces recidivism

Recidivism refers to the likelihood that someone who has been incarcerated for a crime will return to those circumstances. The rates of recidivism are very high. Working together at the federal, state and community level to create opportunities for ex-felons is a benefit to all in society. Groups like 70 Millon Jobs and United Purpose Network are hard at work to promote resources for recycling lives. Richard speaks to the value of investing in opportunities for those with a criminal past:

Recidivism costs cities like Los Angeles tens of billions of dollars annually, destroys lives and families, erodes society, to say nothing of the impact on the new victims. We think that progressive cities and states are recognizing the economics of recidivism and are looking for business solutions. That’s our big opportunity over time. Employment is the silver bullet.

Originally published by The Felon Toolbox

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The Four P's of Success

Key to Success: People

Key to Success: Process

Key to Success: Production

Key to Success: Progress

Richard Bronson, From Felon to 70 Million Jobs

The difficulty for felons to find a job

Advantages of giving jobs to felons

Providing jobs for felons reduces recidivism

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