In this episode of Hardcore MBA, Erlend and Matthew talk about success and failure in outsourcing, and how to turn any mistake or failure into a success each and every time. In Erlend’s world, if you sit by yourself, ‘it’s draining and lonely’. But he says that working with a team is a game changer.
The stronger the team and the more fun the team has together, the more successful you’re going to be.
Matt’s first mistake was waiting for the right time. He later realized that there was no such thing as the right time. He says it’s relatively new to him but outsourcing is one of the cornerstone mistakes that he talks about in Successful Mistake (grab your free paperback copy here: http://successfulmistake.com/erlend).
Going for the top paid, going too cheap, waiting too long, and other different things have been people’s mistake when it comes to outsourcing.
One of the biggest mistakes every single business owner makes at some point is this: they hire the wrong person.
Close your eyes and picture someone you admire, and yep… they have hired the wrong person.
Chances are they have made every hiring mistake in the book, and there’s a good chance that you too will suffer a few hiring failures in your time. Hiring and outsourcing is one of the most dangerous things you can do as an entrepreneur, but it’s also something EVERYONE has to.
Whether you have an entire workforce to hire, or the odd virtual assistant, hiring and outsourcing is something that affects us all. It’s tough to master, but I have a few tips to share with you that will help you avoid three of the biggest hiring and outsourcing mistakes you can make.
In today’s episode of Hardcore MBA, Matthew talks to Sol Orwell who has done all kinds of work, including the popular nutrition site, examine.com (2+ million monthly users). Sol talks about the misconception of entrepreneurs that selling their companies and writing large checks is thought of as philanthropy or giving back. Nowadays, lifetime entrepreneurs raise funds for local charities through Food Offs, selling cookies or other types of food. His first fundraising event involved selling cookies, where he was able to raise $2,500. His next event, where he plans to sell sausages, is targeted to raise $10,000.
Sol works with entrepreneurs to get them thinking about volunteering time and thinking about ways to help their local communities. It’s about building relationships offline. Matthew expands on this, talking about his friend, A.J. Leon, and how he allocated 25% of his time to humanitarian causes. He even built this into his business plan as a core value.
Developing a business is good but crafting a legacy more important. It’s about balance.