The internet brings convenience to every transaction we make. Establishing a business online involves less hassle as well. But how do we ensure that our company will be successful and would create profit?
In today’s podcast episode, our guest James Schramko tells us about his experience working in the corporate world before deciding to establish his own successful business. He shares how he accomplished working less and making more profit. He is the founder of SuperFastBusiness and Silver Circle, helping entrepreneurs quickly double or triple their revenues by working less. He is also the author of the book Work Less, Make More.
Check out the episode’s highlights, and also make sure to listen to the podcast for an in-depth discussion of our topic.
Early Work in the Motor Trade Business (2:31)
- James worked at Mercedes Benz.
- He later realized that he felt restricted in what he was doing.
- He found online marketing skills and techniques by accident.
Determining the Right Business Model (13:05)
- Determine the target income for a certain period.
- Break down the essential questions about this goal.
- Gather answers from these questions to help assess which model is suitable for the business.
- Identify and explain the pros and cons of this suggested business model.
12-Week Cycle (15:23)
- Not focusing too much on long term goals.
- Set a theme for work. For example, search engine optimization: The team will focus on making emails more deliverable and speeding up the website.
- Distractions can drag agenda or plans down.
- Set one high-impact task per week.
80/20 Rule (22:49)
- Use filters or tools that help you identify which things are high-impact.
- Look out for the crucial things.
- Make this an automatic habit.
Systems and Processes (26:50)
- Noah’s Ark principle: Keeping two people assigned per task for efficiency.
- If someone leaves, the other person will still know how to work on the assigned task and can train the next person.
- Create an SOP to track urgent tasks.
Keeping Talented and Trained People (29:48)
- Have good pre-interview criteria in advance and then do multiple interviews.
- Hire and train the employees well.
- Pay salaries early.
- Provide flexible work conditions.
- Encourage and praise employees.
- Ask the employees what they’re passionate about and work on those projects.
- Immerse in their culture and lifestyle.
How to Keep Motivated (40:35)
- “I think about [surfing]. That’s enough for me. I wake up and check the forecast and get a good surf in each day.”
Book Recommendation and Daily Rituals (42:41)
- Indistractable by Nir Eyal
- Sleeping early enough and waking without an alarm clock
- Drinking water first thing in the morning
- Surfing everyday
- James’ routine includes an analogue activity to keep him grounded
You can contact James at firstname.lastname@example.org. He can also be reached through his LinkedIn. For more insights and information, be sure to check out his websites: SuperFastBusiness and Silver Circle.
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