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- [00:01]
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Kevin Patrick
What if the key to breakthrough business performance isn't found in strategies or systems, but in something more fundamental? What if it's found in dreams? Welcome to the Dream Dividend, where we prove that when organizations invest in personal dreams, the returns are extraordinary. So let the dreaming begin. Here's your host, Kevin Patrick. Kevin Patrick.
- [01:09]
You know that feeling when you walk into your office on Monday morning and you can just sense it, the energy or lack thereof. Your team is there doing their jobs, checking the boxes, but something's missing. That spark, that enthusiasm, that sense of purpose that made you fall in love with your business in the first place. I'm talking to small and medium business owners today because you're facing a crisis that's hiding in plain sight. While the big corporations get all the headlines about employee engagement, you're dealing with the same problem on a scale that hits even harder when you only have 20, 50, or even 100 employees. Losing just one good person doesn't just hurt your numbers, it devastates your entire operation. Here's a statistic that should keep every SMB owner awake at night. Small businesses with fewer than 100 employees experience turnover rates that are 30% higher than large enterprises. Think about that for a moment. In a company of 50 people, that could mean losing 15 employees every single year. And here's the kicker. It costs you between 50 and 200% of each employee's annual salary to replace them. So if you're losing a valued team member making $40,000 a year, you're looking at anywhere from 20,000 to $80,000 in replacement costs. Multiply that by your actual turnover and suddenly we're talking about numbers that can make or break an SMB's entire year. But I want to tell you about something that happened last week that crystallized why this matters so much more than just dollars and cents. I was working with a family owned manufacturing company. Three generations, about 60 employees, been in business for 45 years. The owner was frustrated because his best machinist had just given notice. This wasn't just any employee. This was Someone who'd been there eight years, who knew every piece of equipment, who could solve problems that stumped everyone else. The owner's first instinct was what most SMB owners do. Panic about the technical skills, walking out the door, scramble to find a replacement, maybe throw some money at the problem. But when we dug deeper, we discovered something that changed everything. The machinist wasn't leaving for more money. In fact, the competing offer was only $2,000 more annually. He wasn't leaving because of the work itself. He actually loved the technical challenges. He was leaving because, in his words, I don't feel like anyone here really knows who I am or cares about what I want to do with my life. Here's what the owner learned during our conversation. His star employee had been dreaming of starting a small engine repair side business. He'd mentioned it casually a few times over the years, but nobody had ever really engaged with him about it. He had goals of paying off his house early so his wife could stay home with their K. He wanted to take a welding certification course to expand his skills. These weren't just idle wishes. These were the dreams that got him up every morning. But this company, like most SMBs, had fallen into the trap of treating employees like human resources instead of human beings with dreams, aspirations and goals that extend far beyond the four walls of the workplace. Now, before you start thinking this is going to be some touchy feely conversation about feelings and participation trophies, let me be clear. This is about business results. Hard, measurable, bottom line impact that can transform your SMB from surviving to thriving. Because here's what the owner discovered when he started paying attention to his employees as whole people. That machinist who was about to leave. He stayed. Not only did he stay, but his productivity increased 23% over the next six months. His quality scores improved. He started mentoring newer employees. And here's the really interesting part. He started bringing in new business through his side engine repair venture, referring customers who needed more complex manufacturing. This is what happens when you stop seeing employees as costs to be managed and start seeing them as investments to be developed. When you recognize that the person running your accounts receivable might have dreams of getting her real estate license. Or that your warehouse supervisor has always wanted to learn Spanish. Or that your best salesperson is secretly writing a novel. The traditional approach to employee retention in SMBs has been reactive. Wait for problems to surface, then try to fix them with money or benefits. But. But what if I told you there was a proactive approach that not only prevents turnover, but actually increases performance, innovation and customer satisfaction. It's called the Dream Manager approach and it's revolutionizing how small and medium businesses think about human capital. The concept is elegantly simple. What if you systematically helped your employees achieve their personal dreams, not just their career goals within your company, but their life goals outside of it? What if you had someone, a Dream manager, whose job it was to help your team members identify what they really want out of life and then create plans to achieve it? Now I know what you're thinking. I'm running a business, not a life coaching practice. I can't afford to have someone on staff just to help people with their personal goals. And you're right to be skeptical. SMBs don't have the luxury of unlimited budgets or experimental programs that might not pay off. But here's where the Dream Dividend comes in and why I chose that name for this podcast. When you invest in your employees dreams, you don't just get a feel good story, you get measurable returns that show up in your profit and loss statement. Let me break down the math for you using real numbers from SMBs that have implemented this approach. Take a 50 person company with average salaries of $45,000. If they're experiencing the typical SMB turnover rate of 30%, they're losing 15 people per year at conservative replacement costs of 75% of salary. That's over 500,000 DOL annually in turnover costs alone. That doesn't include the productivity loss, the overtime costs for remaining employees, the customer service disruptions, or the stress on management. Now, companies that have implemented Dream Manager programs typically see turnover drop by 50 to 70% within the first year. Using the conservative 50% reduction, that same company would save over $250,000 annually just in direct turnover costs. But the dividend doesn't stop there. Employees who feel supported in achieving their personal dreams report significantly higher engagement levels. And we're not talking about marginal improvements. We're seeing productivity increases of 15 to 25% across the board. For our 50 person company, that productivity increase alone could represent additional revenue of 300,000 to $500,000 annually, depending on their industry and current efficiency levels. Then there are the secondary benefits that are harder to quantify but equally real improved customer satisfaction scores, increased referrals, higher quality output, reduced absenteeism, lower workers compensation claims, and decreased recruitment costs as your company becomes known as a great place to work. But perhaps the most powerful dividend is one that most SMB owners never consider innovation when your employees aren't just surviving paycheck to paycheck when they're actively growing and pursuing their dreams, they bring that energy and creativity to work with them. I've seen warehouse workers suggest process improvements that saved their companies tens of thousands of dollars. Administrative assistants who were pursuing their own business dreams started identifying cost saving opportunities their bosses had missed for years. Sales team members who felt supported in their personal growth began approaching customer relationships with a completely different in perspective, this is the dream dividend in action, the multiplier effect that happens when you invest in the whole person, not just the employee. Now let's talk about how this actually works in practice. Because the beauty of the Dream Manager approach is its scalability. You don't need to be a Fortune 500 company to implement this. In fact, SMBs often see faster and more dramatic results because of their size and agility. The program operates around 12 key areas of human development, physical health, emotional well being, intellectual growth, spiritual fulfillment, financial security, professional advancement, creative expression, adventure and experiences, family, relationships, friendships and community, the physical environment where people live and work, and character development. Each month, employees meet with a Dream Manager for about an hour to work on goals in these different areas. The Dream Manager isn't a therapist or a life coach in the traditional sense. They're more like a strategic planning partner for life, helping employees identify what they really want, create realistic plans to achieve it, and hold them accountable to taking consistent action. Here's what makes this particularly powerful for SMBs. You probably already have someone on your team who could take on this role. It might be your HR person if you have one. It could be a natural mentor or coach among your supervisors. It might even be you, the owner, if you're in a smaller operation. The key is finding someone who genuinely cares about people, who's naturally curious about what makes others tick, and who can maintain confidentiality. Technical skills can be taught, but you need someone with the right heart for this role. Let me tell you about another SMB that implemented this approach. A regional accounting firm with 35 employees. The managing partner was losing key staff every tax season. Despite competitive salaries and good working conditions. Exit interviews kept revealing the same theme. People felt like cogs in a machine, especially during the busy season. The managing partner decided to try something different. She designated one of her senior managers as a part time Dream manager, spending about 10 hours per week in this role. The investment was minimal. Some basic training, the cost of program materials, and the time commitment. Within 18 months, voluntary turnover dropped from 28% to 6%. But here's the really interesting part. Employee productivity during tax season actually increased despite the firm spending time on what seemed like non work activities. Why? Because employees who were actively working toward their personal dreams brought higher energy and focus to their professional responsibilities. One staff accountant was working toward her CPA license while also training for her first marathon. Instead of these goals competing with her work performance, they complemented it. The discipline she was developing in her training routine carried over to her work habits. The confidence she gained from tackling her certification studies made her more willing to take on challenging client projects. Another employee was saving money to start a food truck business, not to leave the firm, but as a side venture. Working with the Dream Manager helped him create a realistic financial plan that didn't require him to take on debt or quit his stable job. The entrepreneurial thinking he developed for his food truck business led him to suggest several process improvements at the firm that save significant time and money. This is the dream dividend at work. When you invest in your employees as whole people, they bring their enhanced selves to work with them. But let's address the elephant in the room. Some SMB owners worry that helping employees pursue their dreams will make them more likely to leave. What if I help my best salesperson get her real estate license and she leaves to sell houses full time? Here's what the data shows. Employees who feel genuinely supported in their personal growth are actually more loyal, not less. Why? Because they recognize that most companies don't invest in them this way. They're not going to leave a company that sees them as a whole person to go work for, one that sees them as just another employee number. And even in cases where someone does eventually leave to pursue their dream full time, they typically become advocates for your company. They refer great candidates. They become customers or refer customers. They speak positively about your business and their community. Compare that to the alternative an employee who feels stuck and undervalued, who eventually leaves anyway but does so with resentment, potentially taking clients or inside knowledge to a competitor. The fear of losing people shouldn't prevent you from investing in them. The reality is, if you're not investing in your people, someone else will. Here's another way to think about it. Every month you delay implementing something like a Dream Manager program, you're essentially choosing to keep paying the high costs of disengagement and turnover. You're choosing to operate with people who are physically present but mentally checked out. And in today's tight labor market, that's a luxury that SMBs simply can't afford. The companies that are thriving in this environment aren't just offering higher wages, though competitive compensation remains important, they're offering something much more valuable, the opportunity for employees to grow as human beings while contributing to something meaningful. This brings me to one of the most powerful aspects of the Dream manager approach for SMBs. It levels the playing field with larger competitors. You might not be able to match the salary and benefits package that a Fortune 500 company can offer, but you can offer something they often can't personal attention and genuine investment in each employee's individual dreams and goals. Large corporations might have fancy wellness programs and impressive benefits packages, but they rarely have the ability to create the personal, intimate development relationships that are possible in smaller organizations. This is actually your competitive advantage as an SMB if you choose to use it. I think about one of my favorite success stories, a small construction company with just 18 employees. The owner was competing against much larger contractors for both projects and talent. He couldn't match the big company's salary scales, but he started a Dream Manager program that was deeply personal and highly effective. One of his foremen had always dreamed of building custom furniture, but never thought he had the skills or knowledge to get started.
- [14:28]
Matt Rogers
This is Matt Rogers from Las Culturistas with Matt Rogers and Bowen Yang.
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Bowen Yang
This is Bowen Yang from Las Culturistas with Matt Rogers and Bowen Yang.
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Matt Rogers
Hey Bowen, it's gift season.
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Bowen Yang
Ugh, stressing me out. Why are the people I love so hard to shop for?
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Matt Rogers
Probably because they only make boring gifts guides that are totally uninspired. Except for the guide we made in.
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Bowen Yang
Partnership with Marshalls, where premium gifts meet incredible value.
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Matt Rogers
It's giving gifts with categories like Best Gifts for the mom whose idea of a sensible walking shoe is a stiletto.
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Bowen Yang
Or Best gifts for me that were so thoughtful I really shouldn't have Check.
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Matt Rogers
Out the guide on marshalls.com and gift the good stuff.
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Kevin Patrick
At Marshalls, the Dream Manager worked with him to identify woodworking classes, connect him with local artisans who could mentor him, and even helped him set up a workshop in his garage. This foreman didn't leave to become a full time furniture maker. Instead, he brought his newfound passion and skills back to the construction projects. Approaching his work with renewed creativity and attention to detail, his craftsmanship improved dramatically, which enhanced the company's reputation for quality work. But here's the really beautiful part. When this foreman was approached by a larger contractor offering 20% more money, he turned it down. He told his current employer, you believed in my dreams when I didn't even believe in them myself. Why would I leave that for just more money? That's the dream dividend in its purest form loyalty that goes beyond compensation because the relationship goes beyond employment. Now, I want to be completely transparent about what implementing a Dream Manager program requires, because I'm not here to sell you a magic solution that requires no effort or investment. First, it requires a genuine commitment from leadership. You can't fake caring about your employees dreams. If you're just going through the motions because you heard it might reduce turnover, people will see right through it. This has to come from an authentic belief that your employees are whole people with lives and dreams that matter. Second, it requires consistency. This isn't a program you can start and stop based on how busy you are or what quarter you're in. Dreams don't pause for your budget cycles or your seasonal fluctuations. If you commit to helping someone achieve their goals, you need to follow through. Third, it requires some level of investment. At minimum, you're looking at the time commitment for whoever takes on the Dream Manager role, plus the cost of program materials and any support you provide to help employees achieve their dreams. Some companies create Dream Funds to help employees pay for education, training or other goal related expenses. But here's the thing. When you calculate the roi, even a significant investment in a Dream Manager program typically pays for itself within the first year through reduced turnover alone. Everything else, the productivity gains, the innovation, the improved customer service, the enhanced reputation. That's all pure profit. And for many SMBs, the investment is surprisingly modest. If you have someone on staff who's naturally suited to the Dream Manager role, the main costs are training and time. You're not necessarily hiring a new position. You're often expanding someone's existing role in a way that they find deeply fulfilling. I've worked with companies that spent less than $5,000 in the first year to implement a Dream Manager program and saw returns of over $100,000 in reduced turnover and increased productivity. That's a 21 return on investment, which is pretty hard to beat with any other business initiative. But beyond the financial returns, there's something else that happens. When SMB owners implement this approach, they rediscover why they started their business in the first place. Most entrepreneurs don't start businesses just to generate profit. They start them because they want to create something meaningful, to solve problems, to build something they can be proud of. But somewhere in the day to day grind of running a business, it's easy to lose sight of that bigger purpose. When you start investing in your employees dreams, you remember that business is ultimately about people. You're not just running a company, you're creating opportunities for human flourishing. You're building something that makes people's lives better, not just their bank accounts bigger. And that renewed sense of purpose doesn't just benefit your employees, it reignites your own passion for your business. You start looking forward to Monday mornings again because you're not just managing tasks and putting out fires. You're watching people grow, achieve their goals, and become the best versions of themselves. There's another dimension to this that's particularly relevant for SMB owners who are thinking about succession planning or eventually selling their business. Companies with highly engaged, loyal employees command significantly higher valuations than those with high turnover and low engagement. When a potential buyer looks at your business, they're not just evaluating your financial performance, they're assessing the risk of key personnel leaving after the sale. A company with a strong Dream Manager program and demonstrably loyal employees is a much safer investment than one where the workforce could walk out the door at any time. I've seen this play out in real acquisition scenarios. Two similar companies in the same industry, similar revenues, similar market positions. One had implemented a comprehensive employee development program including Dream Management. The other had not. The company with the engaged workforce sold for 30% more because the buyers recognize the reduced risk and increased stability that came with a committed team. So when you're calculating the ROI of a Dream Manager program, don't just think about the immediate savings from reduced turnover. Think about the long term value you're building in your business itself. Now let me address some of the common objections I hear from SMB owners when they first learn about this approach. The first objection is usually about time. I don't have time to be holding people's hands and talking about their personal goals. I've got a business to run. And you're absolutely right, you do have a business to run. But consider this. How much time are you currently spending on recruiting, interviewing, training new hires, dealing with the productivity loss when people leave, managing the stress and overtime that comes with being short staffed. The time you invest in a Dream Manager program is strategic time that actually gives you more time in the long run by reducing all of those other time consuming activities. The second objection is about boundaries. I don't want to get involved in people's personal lives. That's not what this is about. The Dream Manager isn't prying into personal details or getting involved in family drama. They're helping people set and achieve positive goals. Think of it more like being a mentor or a coach than being a counselor. The third objection is about fairness. If I help one person achieve their dreams, won't everyone expect the same level of support. And the answer is yes, they will. And that's exactly the point. When you create a culture where everyone knows they'll be supported in their personal growth, you attract and retain people who value that support. You repel people who just want to collect a paycheck without any investment in their own development. The fourth objection is about results. How do I know this will actually work for my industry or my type of employees? The beautiful thing about the dream manager approach is that it's based on fundamental human psychology, not industry specific tactics. Every person, regardless of their job or background, has dreams and aspirations. When you tap into that universal human drive for growth and achievement, you get results. I've seen this work in manufacturing plants, professional services firms, retail businesses, healthcare organizations, nonprofits, restaurants, and dozens of other industries. The specific dreams might be different, but the fundamental dynamic is the same. Here's what I want you to do right now. Think about your best employee, the one you absolutely cannot afford to lose. Now think about what you actually know about their life outside of work. What are their goals? What are they working toward? What keeps them up at night with excitement, not just anxiety. If you can't answer those questions, you're operating with incomplete information about one of your most valuable assets. You're managing them as if they're just a job function instead of a whole person with dreams, fears, and aspirations that profoundly affect how they show up to work every day. Now think about your most problematic employee, the one who seems disengaged or difficult to motivate. What do you know about their personal goals and challenges? Is it possible that some of their work performance issues stem from feeling stuck or unfulfilled in other areas of their life? I'm not suggesting that every performance problem can be solved by talking about dreams, but I am suggesting that you might be trying to solve the wrong problem instead of focusing solely on the work behaviors you want to change? Focus. What if you focused on helping that person become more fulfilled and motivated in their overall life? The ripple effects of personal fulfillment on professional performance are profound and measurable. Let me share one more story that illustrates this point. I worked with a small manufacturing company where one of their machine operators had been struggling with quality issues for months. His error rate was significantly higher than his peers, and his supervisor was considering termination. Instead of firing him, the company's newly appointed dream manager sat down with him to understand what was happening in his life. It turned out that his teenage daughter had been struggling in school and he felt helpless to support her because he'd never been good at academics himself. The stress of watching his daughter fail was consuming his mental energy and affecting his focus at work. The Dream Manager worked with him to identify ways he could better support his daughter, including connecting him with tutoring resources and helping him develop strategies for being an encouraging parent, even if he couldn't help with the actual homework. They also worked on his own goal of getting his ged, something he'd always been embarrassed about not having. Within three months, his error rate at work dropped to below the company average. His daughter's grades improved. He completed his GED and was so proud that he brought the certificate to work to show everyone the transformation was remarkable. And it all started with someone caring enough to ask about his dreams and challenges outside of work. This is why the Dream Manager approach is so powerful. You're not just improving work performance, you're improving entire lives. And when people's lives improve, their work performance naturally improves too. But here's the really important part. For SMB owners, this kind of personal attention and investment is something you can provide that your larger competitors often cannot. Big corporations can offer higher salaries and better benefits, but they can't offer the personal relationship and individual attention that's possible in smaller organizations. This is your secret weapon in the war for talent. While other companies are competing on compensation and trying to outspend each other, you can compete on caring. You can offer something that money can't buy genuine investment in your employees personal growth and success. And here's the beautiful paradox. When you stop competing primarily on money and start competing on meaning, you often end up making more money anyway. Engaged employees are more productive, more innovative, more loyal, and more likely to go the extra mile for customers. All of that translates to better financial performance for your business. So let me ask you the $1 million question that gives this episode its title. Actually, for many SMBs, it might be more like a $1.2 million question, depending on your size and current turnover costs. The question is this. Can you afford not to implement a Dream Manager program? Can you afford to keep losing your best people to competitors? Can you afford to keep operating with a disengaged workforce? Can you afford to keep missing out on the innovation and productivity gains that come from having truly committed employees? Can you afford to keep building a business on a foundation of people who are just going through the motions? Or would you rather build a business where people are genuinely excited to contribute? Where they bring their full energy and creativity to work? Where they become advocates for your company and their communities? Where they stay with you not just because they have to, but because they want to. The choice is yours, but the cost of inaction is measurable and it's significant. If you're ready to explore how a Dream Manager program might work in your business, I encourage you to start small. Pick one or two of your key employees and simply start having conversations about their goals and dreams outside of work. You don't need a formal program or a certified Dream Manager to begin. You just need genuine curiosity and a willingness to see your employees as whole people. Ask them what they're working toward in their personal lives. Ask them what skills they'd like to develop. Ask them what they do. If money wasn't a consideration, then listen. Really listen. Don't try to solve their problems or give advice. Just understand who they are beyond their job description. You might be surprised by what you learn. That quiet administrative assistant might have dreams of starting her own event planning business. Your best truck driver might be working toward his pilot's license. Your office manager might be training for a triathlon. And once you know what drives them, you can start finding ways to support those goals. It doesn't have to be expensive or complicated. It might be as simple as adjusting their schedule so they can attend evening classes, or connecting them with someone in your network who shares their interests, or just checking in regularly on their progress and celebrating their wins. These small gestures have enormous impact because they send a clear message. You matter to me as a person, not just as an employee. Your dreams matter. Your growth matters. I'm invested in your success, not just your productivity. And that message, when it's authentic and consistent, transforms everything. It transforms how people feel about coming to work. It transforms how they interact with customers. It transforms how they think about your business and their role in it. This is the dream dividend, the return on investment you get when you invest in the dreams of your people. It's measurable in dollars and cents, but it's felt in ways that go far beyond the financial statements. It's the feeling you get when you realize you're not just running a business, you're changing lives. You're not just managing employees. You're developing human beings. You're not just generating profit. You're creating purpose. And in the end, isn't that why you started your business in the first place? Not just to make money, but to make a difference. Not just to survive, but to thrive. Not just to build a company, but to build something meaningful. The Dream Manager approach gives you a practical, proven way to do exactly that. The question is, are you ready to claim your dream dividend. In our next episode, we're going to dive deeper into the mechanics of setting up a Dream Manager program in your SMB. We'll talk about who should fill the role, how to structure the conversations, what resources you'll need, and how to measure success. We'll also address some of the common implementation challenges and how to overcome them. But for now, I want you to think about that $1 million question. What would your business look like if every single employee was genuinely excited to be there, actively contributing to your success and serving as an ambassador for your company in their community? That's not just a dream. It's a measurable, achievable outcome. And it starts with caring about the dreams of the people who make your business possible. Until next time, remember that your greatest asset isn't your equipment or your processes or even your customers. It's your people. And when you invest in their dreams, they'll invest their hearts in your success. That's the dream dividend. That's the competitive advantage that no amount of money can buy. And that's the opportunity waiting for you right now in your business.
- [29:42]
That's it for this episode of the Gentleman Dream Dividend with Kevin Patrick. If this episode resonates with you, share it with someone who needs to hear it. Subscribe wherever you get podcasts and join the conversation@thedreamdividend.com Together, we're proving that when organizations invest in human dreams, the dividends are beyond measure. Until next week, remember, the best investment you can make is in your people's dreams. Thanks again for listening.
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