The Reluctant Entrepreneur: Turning Dreams into Profits

THE CARE AND FEEDING OF A SUPERSTAR

Let your superstars know why you think they’re special. Don’t flatter them. Just tell them the truth. Tell them that you want them to rise all the way to the top. Spend time with them, quality time. Teach them everything you know. Don’t hold back anything. And, very important, give them room to grow. Superstars die in bureaucratic environments.

Specifically, here’s how to keep your superstars motivated:

• Without being foolhardy, give them authority. Achievement-oriented people enjoy freedom, power, prestige, and a good challenge. Give them enough rope to hang themselves but not so much that they can hang you too.
• Give them feedback. Mix the positive and the negative. Praise your good people, yes. Praise them, publicly and sincerely, when it’s appropriate. But don’t be afraid to criticize them—privately—when it is warranted. The best employees don’t need to be coddled, manipulated, or managed. They need mentoring and they need a challenge. They will accept criticism so long as it is fair.
• Give them advice. Great people will teach themselves most of the technical parts of your business. They will also figure out much of the left-brain stuff if you give them the freedom and resources to find the answers. What they can’t do themselves is learn the inside secrets of your business. These are the vital but invisible tricks of the trade that you have discovered the hard way. Don’t make your protégés learn these secrets on their own. Teach them yourself. ...