| Case Study Guide | ||
| Key Ideas.
Key Idea #1 . Personal influence is more powerful than giving orders. From his 30 years of experience Jim has learned that people are much more likely to follow his example than they are to follow his instructions. He doesn't expect anyone to do anything he hasn't already done. He also believes that his people can teach him a thing or two, so he listens to their input. In addition, he has discovered that the executives in the company are more effective when working close to the people they manage than they are working close to each other. So, Tom James has no central headquarters. Jim says that he can motivate no one. Instead he asks each employee to define his or her personal goals. The hiring process at Tom James takes several weeks. First and foremost, Jim is looking for good character in every employee and he believes that it takes time to see a person's character. You think back: Why do most owners tell people what to do? Answer: Several reasons. Perhaps it's the way they were dealt with as an employee, it's the only thing they know to do, and it's the most expedient way to achieve the objective. What do you think? Why does just telling people what to do backfire eventually? Possible
answer: Creative people need the freedom to think for themselves, set
their own goals and figure out how to achieve those goals. Smart, energetic
people will not work long for an owner who simply gives orders. Lorraine Miller quit working for a man who wouldn't let
her ask questions and Greg Thurman started a company
because he couldn't find a boss who valued his opinion. Greg teaches to us to
engage employees in a dialog to draw out their best thinking. Greg says, "Stop
telling and start asking." Marty Edelston has a
formal process that gives employees a "voice" in decision making.
Key Idea #2 . Don't let target dates keep you from achieving your goals. Jim gave himself 18 years to achieve $100 million in sales. It took him 25 years. Had he quit on the date he set, he would not have the $200 million company he owns today. The label inside his suits sums up his philosophy in life -- "I ain't quitin'. What do you think? What are some goals which could take a lifetime to achieve? Answer: Examples: read all of the world's great literature in its original language; rear children to be contributing adults; shoot par golf when at the age of 80; build a business that creates hundreds of jobs. What do you think? What are some short-term "doable" goals which will take me to the long-range goals? Answer: Spend one
evening per week alone with each of my children. Study 2 hours per day until I
complete my college degree. Note how the larger the goal, the more difficult it
is to measure the progress toward it. Progress toward short-term goals is
easier to track. Key Idea #3 . If your overall priorities are right, job performance will be at its best. Vince Lombardi, the great football coach, influenced Jim McEachern to establish basic priorites in his life. God first, family second and Tom James third. If you have read Mary Kay Ash's first biography, you'll find she has the same three priorities. The point is, work is only part of what we do and who we are, and our performance at work depends upon what is going on in our personal life. Jim asks his employees to ask themselves: What do you want to accumulate? What do you want to do? What do you want to become? Big Idea #4 . Helping your sales channel get rich is a good way to get rich yourself. Jim's vision was always to deliver quality clothing with first class personal service. What do you think? Why is the sales force the key to Jim's success? Answer: This is his only sales
channel. Using an insurance model, Jim recruits and trains people who want to
build their own small company. They build a book of customers who order every
season. Tom James customers are spoiled and coddled. They are high income
professionals who have more money than time and also appreciate being educated
by Jim's highly trained team. Business Basic: Finding Money Part II |
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