You may remember on last week’s Confidence & Conversion, Doug Edrington used the phrase “tactical winning and strategic losing.” This week, Doug and his longtime friend Malcolm Godwin are going to unpack exactly what that means and why strategic loses might sometimes beat out momentary wins when it comes to playing the long game.
Doug and Malcolm each run multiple businesses with phenomenal success (Doug’s team has a whopping average of 42 transactions per agent) and on this Team Builders, they’re going to share some of their secrets for long-term scaling, including:
- The 3 things to look for in a business partner
- The biggest mistakes you can make when managing
- Strategies for creating ancillary services
- How to keep your employees happy and motivated
Although this information is presented for multiple business owners, it’s equally essential to those with a single business or anyone who wants to be a better leader. So, no matter what stage you’re at, you’ll want to watch or listen, right here.
In this episode, we discuss…
0:00 – About Doug and Malcolm
3:56 – Management methodology (Operation Replace Doug)
6:00 – How do you add value to your employees’ lives?
7:59 – Strategically losing
9:54 – Looking at employee pay and advancement
11:38 – Product market fit
14:26 – Finding the right culture fit (or replacing everyone)
16:39 – Mentoring and training
20:07 – How Doug and Malcolm met
21:20 – Malcolm’s 3 Don’ts
22:39 – Start with an exit plan
26:21 – Reach out to Doug and Malcolm
