INSIGHT OF THE WEEK
“If you want to know what I do at Danby, the answer is I don’t do anything. People do everything.”
-Jim Estill, Danby Appliances
Leadership Strategies to Scale Your Business
Jim Estill is the President and CEO of Danby Appliances. He was recently awarded the Order of Canada for his sponsorship of 62 Syrian refugee families. Listen as he and Kim Ades, President and Founder of Frame of Mind Coaching™, discuss his leadership strategies for scaling businesses.
In this episode of Resilience Radio, we explore:
- What it means to have “healthy fear”.
- How to gain the competitive advantage.
- Jim’s leadership strategies for scaling businesses.
- The secret to happiness Jim learned by helping Syrian refugees.
- The sacrifices entrepreneurs make on their path to success.
Take a Listen!
The Role of “Healthy Fear”
“All entrepreneurs have to have fear,” says Estill. He says that fear is a bigger driver than pleasure, and that it pushes us to succeed. Estill defines “healthy fear” as a fear that causes us to act. “Fear is why you don’t fall off your roof. You’re afraid, so you hold on,” he says. “The same thing is true in business. If you have a healthy fear that your competitors are coming to get you, then you’ll figure out how to get around that.”
Gaining the Competitive Advantage
Estill’s key competitive edge over the years has actually been having a bunch of small advantages. Among these include having a low overhead, being a small company and doing guerrilla marketing. “I like being a big distance from my competitors,” he says.
Leadership Strategies for Scaling your Business
Estill says that the biggest mistake that leaders make is micromanaging their team because that inhibits scalability. Instead, he subscribes to a servant leadership model. “If you want to know what I do at Danby, the answer is I don’t do anything,” he says. “[My] people do everything.”
The Secret to Happiness
While helping Syrian refugees in Canada, Estill learned a lesson in happiness. He describes the secret to happiness as being grateful for what you have, not ungrateful for what you’ve lost and not jealous of what others have.
The Cost of Success.