I own a real estate firm with over 1.9 million square feet of self storage and 45 employees. I also own 6 other companies with over 400 employees. I send deal breakdowns with P&Ls. Newsletter topic: Real Estate, Management, Entrepreneurship
The two reasons great employees get frustrated and quit
I've taken the time to speak with a ton of high level employees about their jobs.
What they like, what they don't like, and more importantly WHY THEY QUIT.
Lets dive in:
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Last week's podcast episode on how to fire an employee was one of the most popular episodes I've released. Check it out on Youtube or Spotify.
There are two main reasons people who are really good at what they do get frustrated while working at companies:
1. Their bosses are indecisive and things take too long to happen.
A lot of managers, especially at large companies, take FOREVER to make changes, decisions and implement new policies. There is nothing worse for folks who like to be productive, grow and make the company better.
This is hell for people who are good at what they do.
2. They're surrounded by C players who suck at their jobs.
The best way to piss off a 10xer or A player is to surround them with C players. They spend time cleaning up messes and dealing with other people's problems.
At any company your culture becomes what you tolerate. If you tolerate incompetence, you'll breed it. And your best employees will leave.
B players (average) are necessary. They are the role players who do their job and sign off at 4:59pm. You need these folks. But the folks who are terrible at making decisions, casue problems, and are generally incompetent will ruin everything inside your business. Fire them right away.
Do what you need to do to keep your 10x employees happy - and it starts with making quick decisions and ridding the company of dead weight.
Onward and upward,
Nick
P.S. Tax season is right around the corner and the folks at RE Cost Seg just let me know their fall / spring schedule is filling up and they're considering raising their prices. They've already delivered 1/2 my cost segs this year and the depreciation is mouth watering. Reach out if you're in the market - the proposal is free.
Professional engineering reports you can count on, and they do virtual visits to turn them around even quicker. Not sure what a cost seg is? Check out this thread.
Nick Huber
Entrepreneurship & Real Estate
I own a real estate firm with over 1.9 million square feet of self storage and 45 employees. I also own 6 other companies with over 400 employees. I send deal breakdowns with P&Ls. Newsletter topic: Real Estate, Management, Entrepreneurship
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