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Business owners ask, “How can I get my people to act more like owners? How can I get my people to take responsibility? They’re wonderful and I know they have great ideas. Why can’t I get them to share them?”
That’s the object of a program called Lazer Results as implemented through a division of Lazer Grant LLP called Lazer Results.
The foundation of the program is education. Employees are taught the importance of cash flow and how everyone in a company affects results. Once people understand the necessity of profit and a positive cash flow, we move on to illustrate how everyone’s behavior impacts results. This helps them to understand why their job is important and that the welfare of the company is dependent on them and the rest of the team.
Having team members participate in the selection of objectives increases the probability of success. And building a reward system for improved performance creates enthusiasm.
Regular and meaningful reporting completes the circle. Each area reports its results and each change is presented visually so everyone sits up and takes notice. The goal is to create a team moving in the same direction, together.
The accounting principles of the program are presented simply. The team picks an area to improve and that area becomes a game. The reward system is self-funding from the increased profits.
As new challenges present themselves, new games are created and new successes enjoyed. The company grows and prospers, employees feel like owners and decision-makers, and everyone enjoys the increased profits.
Creating an organization of employees who think and act like owners:
- Playing for Profit – What’s in it for me?
- Providing a basic understanding of:
- Financial statements (how they impact one another and the different between profit and cash), and
- Key financial (and non-financial) drivers (and how each team member impacts them).
- Developing and training:
Entrepreneur-like thinking and energy
- Ways individuals and teams can participate
- Associating tasks to objectives
- Learning where the score comes from, how the score changes and how they can affect the score
Creating a Scoreboard Template
A scoreboard is a concise document highlighting the key financial and operational indicators that will drive the organization’s critical number(s). It is a living document utilized weekly or bi-weekly to keep the team focused on financial and operational performance by requiring them to forecast regularly against those numbers for which they are accountable.
- key indicators that will be utilized in company’s scoreboard to drive its critical number(s)
- strengths and weaknesses
- business and people issues
- likes and dislikes
Following the action and keeping score – budgeting, forecasting and recording.
Utilizing an interactive huddling simulation with a fictional company to demonstrate the huddling process.
Huddles are short, focused meetings where you forecast your numbers. You’ll learn:
- How to conduct the company huddle and department huddle
- How to disseminate and audit information (are we on track?)
Rapid Improvement Plans:
Learning how to bring the whole team together in a fun activity based game to move the key indicator number, up or down!
- It’s fun
- It works
- It gets everyone involved
- Everyone enjoys the reward at the end of the game
Providing a Stake in the Outcome
- Learning how to build a strong bonus program.
- Learning what makes a weak bonus program
- Learning how to implement a bonus program in your business that works
Implementing Lazer Results Principles
- Understand how your company makes money and how you contribute.
- Learn how to really understand your financial statement.
- Understand the relation between an income statement and cash flow.
- Uncover why even though you seem to be doing well, why you still seem to have cash flow problems.
- Learn what makes employees think and act like owners.
- Understand what the score is and where it comes from.
- Learn how to budget, forecast and record your score so you know how you’re doing at any given moment – not 1 month later!
- Learn how to turn your employees into a team and get them excited about coming to work every day.
- Learn how to turn obstacles into opportunities and create games that make everyone a winner.
- Learn how to share increased profits with team members so everyone works harder to solve problems and has fun doing it.
- Learn how to have fun everyday at the office and have more spare time.
- Learn how to have employees who solve problems and come up with creative solutions.
For more information: Joel Lazer, CPA, CA, CIRP, 204-977-3500 or 1-800-220-0005