E41 | Winning the Great Game of Business with Rich Armstrong

Rich Armstrong is a leading expert in open-book management and employee ownership. With more than 34 years of experience at SRC Holdings Corporation, a 100% employee-owned company, Rich has played a key role in refining and implementing the Great Game of Business – a proven system that aligns employees with company goals through financial literacy, accountability, and shared rewards.  Rich shares his insights on how transparency, financial literacy, and shared incentives transform workplace culture and business performance. He discusses how companies can empower employees by teaching them how business works, aligning their daily actions with financial success, and rewarding them for results.  Rich explains key concepts like the critical number, mini-games, and high-involvement planning, providing real-world examples of businesses that have thrived using these strategies.  Takeaways  Open-book management empowers employees by providing financial transparency and accountability.  Employee ownership fosters long-term commitment, engagement, and shared responsibility for success.  Teaching financial literacy helps employees make better decisions that impact profitability.  A clear critical number aligns teams toward a common business goal.  Mini-games drive continuous improvement by turning challenges into focused, team-driven solutions.  Profit-sharing rewards employees for their contributions to business growth and efficiency.  High-involvement planning increases buy-in, leading to stronger execution and strategic alignment.   Retention rates improve when employees feel valued, informed, and part of the mission.  Sustainable success comes from better decision-making, not just revenue growth.  Trust and transparency create a culture where employees think and act like owners.    Follow Rich Armstrong https://www.greatgame.com/ https://www.linkedin.com/company/the-great-game-of-business/ https://www.linkedin.com/in/rich-armstrong-5b18a85/  Books on this episode Get in the Game by Rich Armstrong https://amzn.to/3WyLXob  The Great Game of Business by Jack Stack https://amzn.to/40vriCR  A Stake in the Outcome by Jack Stack & Steve Baker https://amzn.to/40M1jbF   Watch the episode on YouTube: https://www.youtube.com/@TheEvolutionPartners   Newsletter – each week I share interesting insights, articles and ideas you can use. Join other leaders and subscribe to The Evolution Partners newsletter  https://evolutionpartners.com.au/subscribe/  Books – Learn more about our books https://evolutionpartners.com.au/books/ Made to Thrive: The practical, prescriptive guide on how to be a great CEO Onboarded: How to bring new hires to the points where they are more effective faster. A business case for leaders on why you should commit to an effective onboarded process Onboarded for Managers: Helping managers bring new hires to the point where they are more effective faster  Follow me: on https://au.linkedin.com/in/bradleygiles on https://twitter.com/Evolution_Perth Enjoying the show? Leave a review Support the show: https://www.facebook.com/evolutionpartnersperthSee omnystudio.com/listener for privacy information.