This is a follow-up to episode 184. In this show we talk about the WHEN aspect of hiring middle management. Several of you had emailed me with questions as far as what indicators tell you it is time to hire out areas of your business.
If you want to grow your business you must learn that you aren't the #1 in every area of your business. Focus on the 2 or 3 things that you are a true all-star at -- hire people that are better than you in the other areas.
YOUR NEW JOB TITLE! You put out fires everyday as a business owner... all the problems somehow make it to your desk. Embrace the challenges (that doesn't mean you need to enjoy them) and realize its part of the journey of scaling your small business.
Confidence and determination are one thing... pride and arrogance is another. We don't talk about it often in the world of business, but humility is a key ingredient to making your small business successful and becoming a great leader.
I have 2 underperforming employees and I decide to have uncomfortable conversations to show my commitment to them and to try and curb their behavior.
Fixed expenses versus variable expenses and what you need to do to reduce your risk of too much overhead. NUMBERS!
Some of my thoughts about college, internships, and what high schoolers should do after they graduate...
Brian sent a question in on starting his business. Mike encourages you to focus on just two things in your business.... yes there are hundreds of other areas and details but they seem to take care of themselves when the business is growing top line revenue and focussed on lean business practices (efficiency).
Hiring is tricky, but firing someone is a whole lot more awkward... but you've gotta do it by-the-books. Documentation is key to making sure your prior employees can't try and make things up... not documenting the reasons for the firing and having witnesses/signatures WILL come back to bite you sooner or later. PS -- never fire someone over a text message....
7-8 months ago I hired an employee... He got fired on his second day on the team... Yet, 7 months later I still have regrets and am reaping the repercussions of not having a hiring system in place.
Yes, United Airlines had bad customer service... But, there is a time when the business owner has to draw a line and fire the customer. Today, we talk about the balance between sales and customer service and how good customer service can feed your sales funnel.
Everyone says that you have to be passionate about what you are doing in order to become extra ordinary at that craft.... I get it... But I disagree. What about the journey to that "passionate" place? What about the grind? The stick-to-it-ive-ness when you don't feel like jumping out of bed and going to work everyday.... ?
I have a question for you... what would you do if you were me? Am I making the wrong decision?
What is Facebook up to and what can we learn from their acquisitions of Instagram and WhatsApp? Also, I personally hit a pretty cool milestone in my business.