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I am a true believer in the power of your employees.

Typically, they know more about what is going on with our customers than we do. They have more contact with our customers than we do, and they often know more about our operational methods, processes, and systems. And if you reflect on that, really they should, shouldn’t they?

So how about we release all that intellectual capital and have some fun in the process?

There is an exercise I use in my Insight Institute business that I call “Dollar Time.” It started in the on- highway truck market back in the 1960s when a group of 20 dealers of a com- mon brand would get together two to three times a year and share experiences and business practices in order for everyone to improve their performance.

In a manner, it was all about best practices. The participants would also share financial information so that they could compare results and the practices that achieved those results.

In our approach now, we have groups with a maximum of 12 members, but still do similar things. The difference, though, is that rather than simply facilitating the meetings, we act as a group consultant with the members as well. It’s been quite successful for everyone.

Dollar Time is a staple of each meeting. Each member presents to the group, in a formal manner, an idea that will generate additional sales or reduce costs in some significant way. In the early days of Dollar Time, you could come up with some serious improvements, perhaps more than $250,000 in additional profits on an annual basis.

Your Own Dollar Time

How about you start a Dollar Time routine with your operational personnel? Call it what you want; the name doesn’t matter. You just want something that people will enjoy. Suggest that everyone kick in $5 of their own money and that you will match the pot as the manager or leader.

Each employee must then come up with an idea and create a presentation on it. Hold a meeting and give everyone time to make their five-minute presentation to the group. The group will vote on which idea was the best and the winner gets the cash. That doesn’t sound too complicated, does it? And boy, does it ever work.

Get the Details

Okay, let’s get into more details. The ideas are a modified form of a suggestion box, aren’t they? Well, suggestion boxes work too. Typically they have failed as a result of management losing interest in them and not acting on any suggestions.

The same thing can happen here. If you don’t view this as a serious enterprise, neither will the employees. You want this to be a team-building exercise and have it unleash the creative thoughts of your employees. Remember what we said earlier, they know more about your business than you do.

Make sure you take the winning idea and implement it. Work with the individual who had the idea and have them go about putting their change into practice in your business. Help them get it done and monitor the results so that you can report back to the employees about the changed performance. Make it a big deal.

Start It Up

I would suggest to you that you start with this exercise once a quarter, and if there is enough interest and good ideas, then move it to every other month or even monthly. Why stop the process if they keep coming up with good ideas?

You will be amazed at the results. Fundamentally, everyone working can do a better job than they currently do. That is common sense, although that’s not always common. And everyone can do more than they think they can, but everyone is fundamentally lazy too.

So if everyone can do better and they have more capability and capacity than they think they do, how do we get those results out of them? I believe it is by creating a fun, friendly, and safe environment and having happy, upbeat employees. In other words, it’s about leadership and setting good examples.

So get on with it. Have a short meeting with the employees and introduce the concept of “Dollar Time” or call it what you will. Have an open discussion and kick it off.

Make it a big deal. Bring in a pizza for the presentations. And remember this is for all employees: clerks, sales people, warehousing, technicians, the boss—everyone. February is normally a slower month as people are paying off their Christmas bills and the weather in most of the country is less than exciting. It’s the perfect time for you.

Try it. I’m sure you will love it. And drop me a line and perhaps I can put some of the ideas up on my Web site for people to review. Helping each other succeed in their efforts is not a bad thing. And while you’re at it, check out my Web site at www.rjslee.com. There are lots of helpful tidbits for you there as well. Good luck.