Micro Ownership: A New Way to Motivate Employees

Welcome to a new episode of Business Lunch! In this episode, hosts Roland Frasier and Ryan Deiss explore an innovative "micro ownership" concept that allows teams to bid on improving specific business metrics. The strategy aims to inject entrepreneurial spirit into organizations by giving teams the opportunity to take ownership of key performance indicators, with potential financial rewards tied to their success.Highlights:"We wish that our employees acted more like owners.""It's designed to create this result.""Identify three to five key metrics that directly impact profit.""How do we inject some entrepreneurial life into companies?"Timestamps:00:00 Introducing Micro Ownership03:07 Discussing the Founders' Board Member's Idea06:11 Employees Acting Like Owners07:26 Identifying Profit-Impacting Metrics10:15 Initial Thoughts and Potential Challenges12:20 Developing a Bidding Mechanism14:21 Bonus Distribution and Team Incentives17:47 Potential Consequences for Not Meeting Goals19:24 Maintaining Entrepreneurial Spirit in Growing CompaniesCONNECT • Ask Roland a question HERE.RESOURCES:• 7 Steps to Scalable workbook • Get my book, Zero Down, FREETo learn more about Roland Frasier 👉  https://msha.ke/rolandfrasier/Connect with me on social:🎵 TikTok:  / rolandfrasier   📸  Instagram:  / rolandfrasier  📱 Facebook:  / rolandfrasierpage  💼 LinkedIn:  / rolandfrasier   Subscribe to Roland Frasier 👉     / @rolandfrasierepic