Dan Martell - My Favourite Principle For All My Companies

00:00:00.000 50 to fix it is anybody that's an individual contributor

00:00:03.180 in my companies.

00:00:04.060 If they see something that's broken or there's an issue

00:00:07.500 and they think they can resolve it

00:00:09.040 by spending or investing $50, I empower them,

00:00:12.120 I encourage it, I tell them.

00:00:13.520 Now, the only rule to that is that after the fact,

00:00:16.440 they tell their leader.

00:00:17.600 I just want you to know I spent $50 hiring a freelancer

00:00:20.160 to create these thumbnails on YouTube

00:00:21.580 because the designer wasn't available for us

00:00:23.200 or whatever it is.

00:00:24.040 Now that concept, it applies to people further along too.

00:00:27.320 So 500 is any leader in my companies.

00:00:30.320 5,000 is anybody that's a senior leader, director, et cetera.

00:00:34.800 And then 50,000 is for my executive,

00:00:37.180 my C-level people within their context.

00:00:39.700 And when you start pushing, resolving problems,

00:00:43.040 unlock the financial constraints of doing that,

00:00:45.220 you will see your business transform

00:00:47.340 because people will feel empowered.

00:00:49.280 Speed will just get unlocked.

00:00:51.680 Even if they do the wrong thing,

00:00:53.680 then what I love about is that becomes an opportunity

00:00:56.300 for me to coach them up.

Dan Martell - February 26, 2024