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Ep 402: Removing Redundancy with Strategy & Ownership with Nana Bonsu
tasks. He provides insightful strategies to combat this fear and unlock the full potential of a team. He emphasizes the importance of giving team members greater responsibilities to instill a sense of ownership.
Engaging employees in strategic planning is another powerful way to inspire confidence and maximize their contributions. Nana underscores the value of transparent communication, advocating for an open-book approach to crucial financial aspects like value, profit margins, and cash flow.
Furthermore, Nana suggests empowering team members with the authority to approve larger budgets, fostering a culture of trust and accountability. These strategies not only mitigate redundancy fears but also cultivate a more dynamic and effective team dynamic. So, tune in to unleash the true potential of your team through effective delegation strategies in this insightful micro episode!
Episode Highlights:
00:51 - I think the way to manage that is give them bigger responsibilities. Having them more involved in strategic planning and other brokering of relationships. That's when you start to realize we are trying to make sure you start to contribute to more value added activities. And so, giving them more and more responsibilities. Which is why, the reasons why you set it up. They start to feel like owners. You start to make them feel like they're owners, owners of certain areas of the business. So, you have, it's almost like an employee-owned business without making it official necessarily that way.
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