MLB Legend Alex Rodriguez Shares 3 Strategies for Future Success | Inc.

– You know when you think about business, it’s interesting, and this
same thing happens in baseball. Is people look at history to
strategize for the future. And I think that’s so silly. What you want to do is you
want to look at what’s gonna happen in 10 years, and where
do you want to be in 10 years, and then reverse engineer
it and put a plan in place to move forward. Especially in 2019,
where things are moving at such a fast pace. Then when it comes to your team, we bring in great young
people from around the world to work for us. People talk about alignment,
and let’s make it clear, the only alignment that
counts is economic alignment. If you get that right,
then social alignment and there’s a million things
that go underneath that. There’s three ways that we
like to bring our people to work together on our team. There’s three bonus structures. Number one, there’s your salary. Number two, there’s your unit goal, what group you’re in
and what the mission was of that team, and did you accomplish it. And number three and
the most important goal, is did the enterprise value
of a company go up that year? Now, that trumps everything. If it goes up that year, it can be up to 30 or 40 percent, if it goes down that year, there’s a negative result to that bonus of 30 or 40 percent. So when you have this collaborative idea that 85 or 90 percent of your goal goes around if the team wins or not, then people from different
groups will actually call each other and work together
and help each other out all the time. I think a lot of young
entrepreneurs have an incentive package that actually
works against your company. I urge you to kind of think
about how are you incentivizing your team, are they
completely aligned with you? Is player A and player
B still working together for the same holding company
to grow it to the top? I think that’s super important. It’s been helpful in my organization. – That’s great.

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