Speak to any entrepreneur and he will agree that your staff is one of the biggest inhibitors of any business. As true as this may be, it is also true that the blame for 90% of staff problems, belongs to these entrepreneurs. After all who employed them, who is supposed to train and manage them.
The biggest mistakes entrepreneurs make is to expect their staff to be as dedicated, loyal, and hardworking as they are. This is of course unreasonable. The best we, as entrepreneurs, can hope for is to attract staff that will understand their role in our business and perform their duties to the best of their abilities.
Now and then you indeed employ a staff member that goes beyond simply doing their job and becomes a real asset to your business, but equally true is that these staff members possess the skills, energy, and hunger to go on to become entrepreneurs in their own right. It is then our duty as an employer to make sure we retain these staff members, but at the same time not become dependent on them.
The tendency to simply pay them more or shower them with bonuses will only work for so long. Eventually, the risk of them leaving is no longer the problem, but when you do a Cost vs Benefit analysis you might realise that you are overpaying even these star employees.
The truth is that we cannot rely on these star employees. We as entrepreneurs need to educate ourselves on how to treat, teach and reward our staff members. Pay peanuts and employ monkeys. Teach your monkeys and end up with a loyal and hardworking team - only then reward them with bananas. Employ the best of the best - you will end up paying them more than what you earn and eventually they will become your opposition.
This is reality.
Chief Operating Officer