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Business Book in a Minute

The Seven Day Weekend

This Business Book is based on Ricardo Semler’s theory as to business and how to succeed. Semler has completely torn up the business rule book and moved towards a path of giving up control in exchange for an empowered workforce that are encouraged to seek personal challenges and satisfaction before attaining company goals at Semco.

The Cardinal Strategy 

If one word could define the culture of Semco it would be to ask why. By doing this pat answers that could’ve resulted due to a state of mind that have been driven to become inflexible due being unquestioned. These could be ideas that are no longer any use to your company.

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The value of questions is imperative in growing your company. When you make a mistake, the most important lesson will lie in understanding the process you took which resulted in the mistake. Then your company will become smarter and more experienced, understanding how and why to avoid certain things that have resulted in past mistakes.

Pick Your Own Salary and Boss

Allow your employees to link their earnings and personal successes into the company’s future. At Semco workers pick their own salary from 11 compensation options, and this works because all salaries are published between employees. If your workers know how they fit into the big picture they will choose their salaries accordingly.

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When you choose to employ a new worker it is becoming more vital to gain the right person as a result of the large investment being placed in them. A way to do this is to allow employees to pick and re-pick their own teams. Therefore, when a new employee that looks promising arrives there will be several persons within the workplace open to investing in the person into their team.

The Reservoir Of Talent 

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If an employee has little interest in a part of their job role, then the job they are attempting to fulfill will not be successful. Very few companies have the level of job satisfaction and fulfillment that Semco has produced over the last 20 years. This has been achieved by allowing employees to discover and practice their unique talents, and the company can consistently reap this talent for the success of the company.

One of the quickest ways to uncover your reservoir of talent in your company is by encouraging managerial dissent. By trying this you and your team will learn different ways of doing things. Ways that will lead to innovation and improvement.

Let The Followers Lead 

Leaders are rarely disagreed with and challenged, and hardly ever be assessed from those below them. The problem with leadership that a lot of people overlook is that it is a situational concept. It is not often that a person is the correct leader for two entirely contrasting situations.

This idea links in with the Semco idea of rotating the CEO to avoid having a consistent leader who appears as the hero. When this occurs backward practices will begin to reappear in your company, employees will begin delegating responsibility and your CEO will begin to view employees as minions paid to do what he wishes to see occur in the business.

Overcoming Hierarchy Issues 

Some kind of hierarchy is always inevitable where ever there are leaders in a group. However it is still possible to have democracy and distribution of power, if it is ensured that your hierarchy does not breed conflict.

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Find ways to eliminate ‘school yard issues’ when you dictate issues such as dress code, working hours and how to treat superiors. These can all become petty issues which will take up working time and reduce efficiency. Keep in mind that when there are no guidelines, boundaries are tested and innovations are found and the culture of your company and working life of your employees will be turned around in a positive way.

A New Way of Holding Meetings 

Meetings can be a perennial time waster, but they can also be a large source of new business opportunities if used correctly. By changing the way your your company holds meetings, you can make your company’s democratic culture more valuable almost immediately.

There should be voluntary attendance for all at meetings, and people should be free to leave as soon as they become disinterested. Also decisions should be made by the entire company, and each person have one vote on new ideas including top managers.

 The Semco Way 

Semler has been introducing radical new approaches to business for the last 20 years. Many of his older ideas have become common in the business world but were considered lunacy 20 years ago. Semco’s consistent results speak for themselves. To explore the democratic methods of success of Semco you will have the opportunity to transform your company into something you never imagined.

 

 

 

 

 

 

 

 

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