BigDeal Podcast Episode Summary

Episode Title: Being Comfortable Is Keeping You Poor
Host: Codie Sanchez
Release Date: March 5, 2025

In this compelling episode of BigDeal, host Codie Sanchez delves deep into the crucial elements that differentiate successful, high-performing teams from stagnant, underachieving groups. Drawing inspiration from legendary basketball coach Phil Jackson and integrating personal anecdotes, Codie provides listeners with actionable insights on team dynamics, accountability, and the relentless pursuit of excellence.

1. Introduction: The Nature of High-Performing Teams

Codie Sanchez kicks off the episode by challenging the conventional notion of businesses as familial entities. She emphasizes that treating a business like a family can hinder performance and growth.

Codie Sanchez [00:00]: "At this place, we are not a family. If you work for a business right now where they tell you that it is a family, you should run away."

She likens businesses to high-performing sports teams, where excellence is a prerequisite, and mediocrity has no place.

2. Lessons from Phil Jackson: The Zen Master Approach

Drawing from Phil Jackson's book Eleven Rings, Codie highlights Jackson's unique blend of intense coaching and Zen Buddhism practices. Despite his fiery demeanor on the court, Jackson incorporated meditation to foster mental clarity and team cohesion.

a. The Power of Meditation

Phil Jackson's daily meditation routine serves as a cornerstone for his ability to manage and lead top-tier athletes like Michael Jordan and Kobe Bryant.

Codie Sanchez [05:30]: "There would be zero way I could run the number of businesses I run right now if meditating wasn't a part of my practice 60% of the time."

b. Embracing Change

A pivotal story shared by Phil Jackson involves a Buddhist monk's simple yet profound truth: "Everything changes." Codie connects this philosophy to the necessity of embracing change within teams to foster growth and adaptability.

Codie Sanchez [15:45]: "How can you grow a tree but start with a seed?... It's only by the fact that change is inevitable and it has to go through it."

3. High-Performing Teams vs. Family Businesses

Codie dismantles the family business myth, advocating for a culture of excellence and accountability.

a. Excellence Over Comfort

Using the Chicago Bulls and Kobe's Lakers as examples, she underscores that elite teams are built on talent and performance, not comfort or familial bonds.

Codie Sanchez [20:10]: "You don't go to the Chicago Bulls so that you feel comfortable... The idea is you're either excellent or this place isn't for you."

b. Constructive Conflict and Friction

Codie posits that healthy friction and open feedback are essential for team improvement. Referencing the dynamic between Scottie Pippen and Michael Jordan, she illustrates how disagreements can sharpen performance.

Codie Sanchez [25:00]: "Iron sharpens iron... You can push back on two people as long as you're excellent."

c. Accountability and Performance Metrics

Highlighting studies from Harvard and Kinsey, Codie presents data demonstrating that teams with high accountability and low underperformance achieve significantly greater profitability and productivity.

Codie Sanchez [40:20]: "Top quartile teams with no low performers on them, they achieve 50% more profitability and 30% more productivity."

4. The Role of 'Glue' Personalities in Teams

Acknowledging the importance of diverse personalities, Codie discusses the necessity of having team members who serve as the glue, ensuring cohesion amidst varying personalities and roles.

Codie Sanchez [50:35]: "Is there somebody cracking jokes? Is there somebody kind of bringing levity to what you do every single day? If not, that might be your next hire."

5. The Power of Self-Belief and External Support

Codie emphasizes the significance of believing in oneself and having others believe in you. She shares insights on how perception can enhance performance and even intelligence.

Codie Sanchez [55:50]: "People say imposter syndrome isn't real. Wrong. I've never met a successful person who wasn't hanging onto the edge of discomfort."

6. Personal Reflections: The Entrepreneurial Battle

In a heartfelt segment, Codie reflects on the internal struggles of entrepreneurship, highlighting the importance of unwavering self-belief despite challenges and setbacks.

Codie Sanchez [1:10:15]: "The most brutal and quiet battle you'll ever have to wage is to create the life you want... If you can keep this battle alive, keep believing in you despite all of that, you will achieve maybe even more than you set out."

7. Data-Driven Insights Supporting Team Excellence

Codie reinforces her arguments with robust data, citing various studies that substantiate the benefits of a performance-driven culture.

• Harvard Psychology (Dr. Richard Hackman): Teams viewed as families experience reduced constructive conflict and lower profits.

• Gallup: 70% of employees are disengaged, primarily due to lack of challenge and accountability.

• Forbes: Companies with performance-driven cultures attract higher-performing talent and grow faster, despite higher turnover rates.

Codie Sanchez [1:02:45]: "Companies that embrace a performance-driven culture and quote, unquote, tough love attract higher performing talent and grow at a faster rate than those that focus on retention at all costs."

8. Embracing Attrition as a Positive Force

Contrary to common beliefs, Codie argues that higher employee turnover in performance-oriented companies is not detrimental but rather beneficial, as it ensures that teams remain lean and filled with individuals who are committed to excellence.

Codie Sanchez [1:05:30]: "More people leaving often represents people finding the right place for them... This self-selection actually isn't a right fit for me at this company."

9. Conclusion: Continuous Evolution as the Key to Success

Codie closes the episode by reiterating the necessity of constant evolution. She warns against complacency and the dangers of stagnation in a rapidly changing world.

Codie Sanchez [1:20:40]: "If we do the same things as this year that we did last year, you're not going to make it. If you aren't evolving, you are dying."

She encourages listeners to set ambitious goals, embrace competition, and foster a culture of excellence and accountability within their teams.

Key Takeaways:

1. High-Performance Culture: Treat your business as a high-performing team, not a family. Excellence should be the standard.

2. Embrace Change and Competition: Change is inevitable and necessary for growth. Healthy competition fosters improvement.

3. Accountability Matters: Holding team members accountable leads to higher productivity and profitability.

4. Diverse Personalities Enhance Teams: Incorporate 'glue' personalities to maintain team cohesion amidst diverse roles.

5. Belief is Power: Self-belief and external support can significantly enhance personal and team performance.

6. Continuous Evolution: To survive and thrive, both individuals and businesses must continuously evolve and adapt.

Notable Quotes:

• Codie Sanchez [00:00]: "At this place, we are not a family. If you work for a business right now where they tell you that it is a family, you should run away."

• Codie Sanchez [05:30]: "There would be zero way I could run the number of businesses I run right now if meditating wasn't a part of my practice 60% of the time."

• Codie Sanchez [15:45]: "How can you grow a tree but start with a seed?... It's only by the fact that change is inevitable and it has to go through it."

• Codie Sanchez [20:10]: "You don't go to the Chicago Bulls so that you feel comfortable... The idea is you're either excellent or this place isn't for you."

• Codie Sanchez [25:00]: "Iron sharpens iron... You can push back on two people as long as you're excellent."

• Codie Sanchez [40:20]: "Top quartile teams with no low performers on them, they achieve 50% more profitability and 30% more productivity."

• Codie Sanchez [50:35]: "Is there somebody cracking jokes? Is there somebody kind of bringing levity to what you do every single day? If not, that might be your next hire."

• Codie Sanchez [55:50]: "People say imposter syndrome isn't real. Wrong. I've never met a successful person who wasn't hanging onto the edge of discomfort."

• Codie Sanchez [1:05:30]: "More people leaving often represents people finding the right place for them... This self-selection actually isn't a right fit for me at this company."

• Codie Sanchez [1:20:40]: "If we do the same things as this year that we did last year, you're not going to make it. If you aren't evolving, you are dying."

Final Thoughts:

In Being Comfortable Is Keeping You Poor, Codie Sanchez delivers a no-nonsense guide to building and leading high-performing teams. By intertwining lessons from sports, data-driven insights, and personal experiences, she provides a roadmap for entrepreneurs and business leaders aiming to excel. The episode serves as a powerful reminder that comfort breeds complacency, while relentless pursuit of excellence paves the way for success.