BOM – Stretch Not Snap by Alex Freytag
Welcome to the Real Estate Espresso podcast, your morning shot of what’s new in the world of real estate investing. I’m your host, Victor Menasce. Happy 1st of the month and happy birthday to my sister. It’s her birthday today as well.
On the first day of each month, we review the book of the month. It must meet the simple criteria of being impactful enough that it will either change your life or change your perspective on the world. If you treat it as a piece of entertainment, you’re missing the point. If you internalize its messages, you have a genuine chance at lasting growth.
Our book this month is called Stretch, Not Snap! Create a Self-Funded Incentive Plan and End Employee Entitlement and Get Your Vision Shared by All by Alex Freistag. But before I introduce the book, let me explain that we’ve implemented the entrepreneurial operating system at our company, Wystery Capital, building on the ideas in Gina Wickman’s book called Traction, which we’ve also reviewed here.
Stretch, Not Snap is a business fable that zeroes in on a common challenge faced by entrepreneurial companies. It explores how to transform the employee mindset from entrepreneurship to one of ownership, engagement, and shared vision, particularly through the strategic implementation of incentive plans.
The narrative revolves around Vic and Eileen, the leaders of SWAN Services, as they grapple with growing frustration. Despite having successfully implemented the entrepreneurial operating system, they observe a deep disconnect within the company: a prevailing me-first or entitlement mentality has taken root amongst the employees. They need help to get their employees thinking like owners and to take ownership of the company’s success!
For the company to thrive, they need a system that can promote financial literacy, identify performance indicators, and reward employees not just for showing up but for the real value that they add to the company. The book provides a roadmap for achieving these goals.
What sets this book apart is its emphasis on financial transparency, shared metrics, and self-funded incentive plans. When employees are financially literate, motivated, and their rewards are in line with company success, the potential for sustained growth and profitability is astronomical.
So, think about it. Grab your copy of Stretch Not Snap. Have an amazing rest of your day. Go make some great things happen, and we’ll talk to you again tomorrow.
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