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How To Deal With Conflict Of Interest With Team Member Who Started Their Own Venture #49

June 25, 2022

People come and go as part of your life especially if you are running a high ticket business. What should you feel when people leave your organization and start their own ventures? Should you be pissed-off or frustrated?

Similar situations happen to Dan Lok. In this episode, learn how Dan Lok deals with this scenario and apply the same high ticket mindset running your organization.

[Timestamps]

[0:40] How can you turn your expertise, passion, and experience into an online income stream? Test drive Kajabi platform Dan Lok is using and receives thousands of dollars worth of bonuses. 

[1:48] What Dan Lok has learned after years of hiring and letting go of people in his team.

[3:09] How does Dan Lok see his company’s contribution for his team and future team members?

[3:55] What Dan Lok wants his team members to do when they leave. 

[4:29] What do Dan Lok’s former team members do after leaving?

[5:01] Does Dan Lok have team members who didn’t leave gracefully? What would you do if the same thing ever happened to you?

Transcript

Read Full Transcript

If you wanna turn your expertise, passion experience into an online income stream, the easiest and fastest way is to use what I use Kajabi before Kajabi. You had to deal with different providers to manage your content, build your website, send emails, and the list goes on. Now. Kajabi offers everything you need to showcase your expertise to the world, your online courses, your coaching programs, your membership sites, and more under one roof, you can try for free at www,highticketexpert.com/kajabi. That’s highticketexpert.com/kajabi. And the best part is when you use this special link, you can test drive Kajabi for 30 days for free. Instead of the 14 day trial you see on the Kajabi website, plus you’ll get thousands of dollars worth of bonuses to accelerate your expert business as my gift to you as well. Give it a try today.

Today, I got an interesting question. How do you deal with conflict of interest with team members from your team, from your company have gone out there and kind of started their own ventures. If you don’t know me, my name is Dan Lok. We have generated over a hundred million in coaching and digital course sales in the last couple of years alone. During that time we have hired and fired hundreds of people. So throughout this process, what I’ve learned is this. I used to get pissed off and frustrated when my employees or my team members, you know, went out there and started their own ventures and felt like they are betraying me. How could they do this? How come they’re not loyal and things like that. I used to have this kind of concept. Now, after now we have hired and fired so many people and all, sometimes they just quit.

Here’s what I’ve learned. You should not look at your business as a manufacturer. This is not the industrial age. This is not like, Hey, you know, come work for my company and you are gonna be here until you’re 65. And then you’ll retire well with the internet, with social media, with technology, you are lucky. You are very lucky. If you have someone staying with you more than three years, because things change. I mean, people’s career people’s needs. They change. So I don’t look at it as, Hey, if you’re here, you should be here forever. Instead, the way I look at it today, instead of how I looked at it from the past is my company. I want my company to be a training ground, to be a stepping stone. What are goals that they have? Right? If they coming into my company, I want them to grow.

I want my team to grow. I want their skills to grow. So while they’re here, it could be one year. It could be six months. It could be two years. It could be five years. It doesn’t matter. You shouldn’t be attached. I’m not attached, but when they are here, they are developing their characters. They’re developing their skills while they are here. And we are building something, we are growing the companies. That’s good. We’ve gone through ups and downs, but nothing losses forever, no relationship lasts forever. Eventually they will leave. But what we want to do is, you know, they leave gracefully, right? They transition well. And while they here, they can look back and say, Hey, while I’m here, I have learned a lot. I’ve grown a lot as a human being. That’s how I see it. So I no longer get pissed off or anything like that.

Now, of course, while they are here, before they start working, you should sign an agreement with them. Basically. It’s if it’s non-compete or making sure everything is confidential, they don’t share information without permission, things like that. I mean, that’s a very common, uh, employee agreement. We want that. In fact, I just met one of my ex-employee, who I fired a few weeks ago. His name is Hasan. I haven’t seen him in, in a few years. And when he was working with me, he was a young guy, you know, like young, young, young, right below 20 years old. And now he has grown he’s mature. He started his own agency working on some big projects. I’m very, very happy for him. And we talked. And so those team members, I’m very proud of. They’ve gone of there and built something on their own. They have matured.

So those, we, we keep a good relationship. Of course, I also have some team members who didn’t leave gracefully, right? They left, they, they stole my customers, right? They talk shit about me and all that stuff. Don’t focus on those people. You always have some of those bad apples. Don’t worry about those. You focus on your mission and you focus on making your company as a way to nurture and grow people. This is the training ground. So when someone comes in, maybe they’re here for one year. Maybe they’re here for two years. Maybe they here for three years or five years. It doesn’t matter. You want this period of time for you and for them as well, looking back and say, Hey, this period of time that I have worked for you for your company, for this person. And they would say, I’m very proud of that, that I have grown. I think if you have done that, you are a good CEO. You are a good leader until then go high ticket.

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