In this week’s tip of the week, we recommend the 4-Hour Workweek as a guide to success – with a conversation around our favorite tips and recommendations from the book – applied to e-commerce sellers.

Today we’re continuing to explore Michael’s Process Power Principles. These are high-level simple but powerful concepts you can apply to your business.  Use them correctly and you can create your own “recipes”  and - just as important - optimize or even delete processes. As a result, your business will become a lean, cash-creation machine with delighted customers and happy employees.  Eventually, it can work without you, or be sold to a new owner. 

You’ll learn 

* Why the “Critical few” may be responsible for almost all your results* How to 20X the power of the 80/20 analysis* How “Moving Levels” is a key skill for all entrepreneurs in fast-scaling businesses* When working “In” your business can be smart* Jason’s “Zone of Genius” test* What the “Sourceror’s Apprentice Syndrome is” - and how to avoid it!* Why “meetings” don’t have to be a dirty word - and why your VAs probably don’t get enough meetings from you*  How communication can compensate for a mediocre “first draft” of a process

Resources mentioned

* Eliyahu Goldratt * Seth Godin - Akimbo Podcast* Flowster (Trent Dyrsmid) - software system for creating SOPs/processes AND tracking use of them by team. Also a marketplace for ready-made SOPs (including many Amazon ones)

E-commerce and Business Books mentioned 

* Michael Gerber: The E-Myth Revisited* Tim Ferriss: The 4 Hour WorkWeek* Stephen Covey: The 7 Habits of Highly Effective People

Note: some of the links above may be affiliate links. We are highly selective in who we partner with. We only link to resources we know well and have vetted for our listeners. Also we've committed to plough any affiliate income into making this podcast ever better for you, our listener!

Episode transcript:​ ​ 

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TEL Process Frameworks part 2 of 2

[00:00:00]Jason Miles: [00:00:27] in today's episode, we are going to continue our conversation on the six process power principles. Michael, hope you're doing well. I hope you ready to break it down for us today. In the prior conversation, we talked about principle one, two, and three. , before we dig into principle four, five, and six, let me just read the list again so that we can do a refresher in case somebody hasn't listened to the first episode.

[00:00:48]Here are the six process power principles. Number one, review and examine everything in your business. That's repeated. Number two,

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In today's Tip Of The Week we discuss the best business advise we've heard in the last few weeks related to COVID-19 and how to do business in these turbulent times. We share the advice and also encourage you to go follow and learn more from the smart people we mention.

In this Tip of the Week, we discuss the book Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life by Rory Sutherland, the Ogilvy advertising legend.

Today we’re exploring Michael’s Process Power Principles. These are high-level simple but powerful concepts you can apply to your business.  Use them correctly and you can create your own “recipes”  and - just as important - optimize or even delete processes. As a result, your business will become a lean, cash-creation machine with delighted customers and happy employees.  Eventually, it can work without you, or be sold to a new owner. 

You’ll learn 

* How a home cook created a sustainable little e-commerce business by giving a recipe to her 9-year-old daughter* Why “The unexamined business is not worth running” according to Michael* The three key “Goldratt questions” for change management* The super important question from Seth Godin* Why “Shiny objects” can distract you from a half-baked business!* How an unconscious fear of failure can drive poor process* The best way to get accurate processes fast - hint - be less creative!* How to create a business where you job is ...turn up and collect the paycheque (literally!)

Resources mentioned

* Eliyahu Goldratt * Seth Godin * Flowster (Trent Dyrsmid) - software system for creating SOPs/processes AND tracking use of them by team. Also a marketplace for ready-made SOPs (including many Amazon ones)

E-commerce and Business Books mentioned 

* Michael Gerber: The E-Myth Revisited* Tim Ferriss: The 4 Hour WorkWeek* Stephen Covey: The 7 Habits of Highly Effective People

Note: some of the links above may be affiliate links. We are highly selective in who we partner with. We only link to resources we know well and have vetted for our listeners. Also we've committed to plough any affiliate income into making this podcast ever better for you, our listener!

Episode transcript:​ ​ 

Transcript

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TEL Process frameworks 1 of 2

[00:00:00]Jason Miles: [00:00:28] All right. In today's episode, we are going to talk about principles related to process, and Michael's got a fantastic list of six process power principles. I think that's what we're calling it. if you're interested in exploring. How to really put together high level, but simple concepts related to strategy and process.

[00:00:48] This episode's for you. Do you want to use these correctly and create your own recipes, I guess you could say in your business, you want to optimize process. You want to eliminate wasteful time and effort, [00:01:00] and you really want to streamline your business...

In this episode, we consider what it means to be an ethical e-commerce seller ... How to think about issues of integrity and ethics in a world that is increasingly shady. How can we position ourselves and our company as part of the solution to big problems - instead of part of the problem? 

You’ll learn 

* How ethics plays into your brand* How your goals and time horizon impact your selling strategies and potentially your ethics.* what a B-Corporation is and how doing good can play out in the real-world in positive ways.* Common traps sellers get into that quickly lead to unethical behavior. * Some classic ethical issues in Amazon selling* Should you sell face masks in pandemics? And other dilemmas* “B corps” and how business can be a force for good - by design

Resources mentioned

Project Dragonfly (China project that Google employees objected to)

In this week's Tip Of The Week we discuss how to thrive in times of change by pivoting your marketing when times change.

In this week’s Tip Of The Week, we recommend and discuss Michael Gerber’s business classic, The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It.

In this episode we continue our discussion on the ten principles that every e-commerce leader needs to know in order to build a highly successful team! If you want a terrific team, but struggle with how to make that a reality - then this is the most important podcast you’ll ever here. Here is why...

You’ll learn 

* Forget hiring smart people, (people are average by definition and that’s okay), what to do instead that will enable you to build an incredible team.* What to do before you delegate - that will make all the difference in the world - and improve your chances for success, efficiency, and cost-savings, tremendously.* A hierarchy of delegation that will ensure you NEVER do the work yourself unless it is absolutely necessary.* Are smaller teams better? What’s the ideal team size? * The #1 rule you must instill into the hearts and minds of every team member. A rule that will keep your plate empty and your team-members plates full.* How to test your way into an idea team-member.

In this episode we discuss ten concepts that every e-commerce leader needs to know in order to build a highly successful team! If you want to build a terrific ecommerce team, then here is the most important list you’ll ever find online. Here is why…

But first, a disclaimer, we’ve made lots of mistakes over the years, and in this episode, we discuss a few. With that said, here is what we cover...

You’ll learn 

* Ten Principles Of Managing A Highly Successful E-commerce Team* How to manage the most important team member (and the one who is the hardest to control, by far).* What to do first, even if you don’t have any money to build a team.* The single most important management question you will ever learn to ask!* When it’s okay to hire someone who is just like you, and when you shouldn’t.* The truth about partnerships - and giving up equity in your company.* Forget hiring smart people, (people are average by definition and that’s okay), what to do instead that will enable you to build an incredible team.