December 21, 2017

Growing the Right Way: How to Scale Your Business [Ep 28]

20 minutes

Entrepreneurs know what it means to feel overwhelmed. Often you’re working more hours than you want, you’re stressed out, you don’t see your family as much as you’d like. Whether you’re making money or not, it’s taking its toll. On this episode of The Flip King CEO, Joe gives some tips and tricks on elevating your business, delegating the right way, and scaling your business. These are the actual tips Joe and his team use. So if the above sounds at all like you, then the tips Joe provides in this episode will be a goldmine for you.

The best way to scale your business? Fire yourself

Now, this may sound funny at first, but Joe has a saying in his company that he and everyone who works for them says: Fire yourself. That doesn’t mean that you’re quitting your job, of course. Instead, it means you should be looking to create so much value—developing your skills and outgrowing your current position—that your job becomes obsolete. And if you fire yourself, that means that you have to replace yourself. So maybe you’re a solopreneur or you’re an entrepreneur trying to figure out how to get to that next level and you know that means you can’t focus your attention elsewhere, on hiring and HR forever. And that’s where Joe’s advice in this episode comes in.

If you want to scale your business, it all starts with “The List”

The first thing you need to do if you’re going to expand your team is to create a list of every single thing you do every week. And it has to be everything you do, whether it’s walking your dog or reading books or making sales calls. Everything goes on that list. Then you need to take that list and break it down using a simple chart for each activity, whether you like or dislike doing it, and whether the activity is good or not good. In this episode, Joe talks about how to assess what you’re doing every week and then make changes based on those assessments. It may sound simple, but it’s key to taking that next step.

There’s no way to grow a business if you don’t give stuff away

Even if you’re working for yourself right now, Joe says you need to be brutally honest about whether you excel at something or fail at it. And even if you love doing something, that doesn’t mean you should be doing it. In this episode, Joe talks about how he’s had to stop doing some of the things that he loves most in the real estate world because it’s just not efficient for a CEO to do that kind of work. And, after you’ve done everything Joe talks about in this episode, you’ll know exactly who you should hire. Joe provides a brilliant trick to writing the job description for your first hire that you just have to hear.

The easiest way to hire someone is to find the opposite of you

The truth is, if you don’t fire yourself—if you don’t force yourself to take that next step—you and your business aren’t going to grow. As Joe says in this episode who you are and the mindset you have got you to where you are today. But what’s going to get you beyond that? Challenging your mindset. As Joe says, if you’re happy where you are, then there’s no need to change. But if you want to scale, you need to take risks, you need to take different actions, and you need to grow your team. The tips Joe provides in this episode will help get you there.

Outline of This Episode