Hey there business leaders!
In this episode, I had a phone conversation with self-developed entrepreneur, Rob Minnick, from Minnick’s Inc, an HVAC (Heating, Ventilation and Air Conditioning) family-owned company established by his grandfather in 1954. They do work for shopping and retail centers, office parks and residential spaces.
We talked about his self-development, growing into the family business as well as how to get employees that fit into your business.
Rob also mentioned the troubles the family business went through during the 2008 recession and why trusting your gut is needed in business.
Self-development has been key to Rob's success from a young age. He did not study for business. He learnt the practical way from the beginning under the guidance and leadership of his father.
Although Rob had came into management of an already established company, he still had challenging periods in business, like when they survived recession.
During one recession period, Minnick’s Inc went from about 150 employees down to 6 employees. The business still survived, with some little work they had and leadership of Rob's father.
“I never got an answer from my dad of how he handled it financially.” Rob told me.
With his self-development and wanting to learn, Rob had some new ideas of how to improve business. The ideas came from Rob chatting with other business leaders and asking for help from consultants.
Consulting turned out to be a great idea for and helped him in his leadership journey. He found consultants, who helped him implement new standard operating procedures.
“I started looking at finding consultants, within the business, to help us because we were spinning in the mud. It felt like the same stuff was happening, especially with employees.” Rob said. The consultants introduced solutions that turned things around at Minnick’s Inc.
Asking for help is important for your self-development. Some may view it as being developed by others but in the end, it is you who decides what advice to take or not to take.
In fact, self-development is your responsibility as long you recognize areas you need help in. Looking for that help is the first step.
Self-development got Rob where he is today. “When I started learning all these different things in running a business, I just started cracking the books.” he says.
He also mentioned a book called Traction, which taught him the importance of building core company values and having people who match those core values.
Company values shape the culture in your company. Hire people with characteristics that match those core values. Your decisions must always be based on the core values of your values.
For Rob, core values help him decide if a person is right for his company and if they should stay or go.
Finding the right people for your business is not easy. Letting go of people is an extra challenge, as you can imagine. Unfortunately, you'll have to do it at some point.
Keeping people who are not adding any value to your company is never good for your business. Rob told me “Until you get them out of there, they are just cancer to your business.
A solution to firing people can be empowering them, so they can function better.
Company growth is as important as employee growth. Setting goals should not just be done for the sake of setting goals. Set reachable and measurable goals with your employees.
Important to realize, is that goal-setting is not easy and not everyone knows the purpose of it - or what goals are. “So many people’s goals are not goals they are wishes.” Rob added.
Therefore, it is important to educate your employees on goal-setting. Empower them with skills and knowledge, so as to improve their efficiency.
Rob is about development and working with other people. That helped when he started engaging with business leaders and being part of such groups.
Joining a mastermind group of business leaders was the best thing for Rob. He got to have a platform to share his problems and get solutions.
However, Rob learnt that in these groups you may come across selfish people. The right group has to be the right fit for your business. So do some thorough research on groups before joining.
Whichever group you join, you have to trust your gut. In fact, Rob advises trusting your gut with every decision you make. Trusting his gut has certainly worked for Rob in self-development journey in business.