Ep. 113 - Hierarchy of Needs of an Entrepreneur

Purpose Chasers ®

It's no secret that Maslow's Hierarchy of Needs drives and motivates human behavior. Each stage is the motivating factor behind what you are doing and why you are doing it. When it comes to business, these needs only intensify when it comes to you and your employees.

Suppose you want to create a successful business where the success is mutually beneficial for everyone involved. In that case, you must start with the first level of Maslow's Hierarchy of Needs. After understanding your employee's needs, you also need to recognize and understand your needs as the entrepreneur and owner of the company.

Purpose Chasers, if you missed last week's episode where I broke down Abraham Maslow's Hierarchy of Needs and how to fit the company's vision with your employee's driving factors and behaviors, I invite you to go back and listen to part one. Last week, I took a deep dive into recognizing and understanding your employees' needs, specifically how you can help them attain them and how you and your team will reap many benefits, including maximum production, happiness, and self-fulfillment.

This week, I'm focusing on you, the entrepreneur. When creating a solid business, four main contributing factors keep any entrepreneur out of the lower levels of the Hierarchy of Needs: Cash Flow, Paying Yourself First, Chain of Command/Leadership, and Systems. While individuals commonly refer to a typical 9-5 job as a rat race, it's easy to fall into the entrepreneurial roller coaster trap. To get off the roller coaster for good, tune in as I help you dial in these four systems to create space for you to do what you do best.

Topics Discussed:

• Abraham Maslow’s Hierarchy of Needs breakdown
• Why efficient systems are Gospel in business
• Solution-minded vs. problem-minded
• How to spot an immediate crisis vs. something you can come back to

Ready to stop working for your business and have your business start working for you? To gain access to resources I've created for you and learn how to work with me and my marketing team to grow and scale your business, visit www.markcrandall.net

Quotes:

Mark Crandall

• "Being pulled into all the problems within your company will bring you down faster than anything else. A chain of command or order of business needs to be put in place to ensure you can get out of the weeds.”
• “Chain of command is CRUCIAL. If you want to grow and scale your company, you must be out of the problems. You need to train and empower team members to make decisions to solve problems so that you are not pulled into every single issue that arises.”
• “Building systems without accountability is useless because there is no structure to ensure the systems get followed.”
• “You'll never feel at your highest self if you're constantly solving problems and never put preventative measures in place to ensure those problems never happen again. That's the core definition of systems.”