WEBVTT

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And so for us as entrepreneurs, like a lot of times we have to think like,

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how can I improve my character?

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What are the traits of mine that are deficient so that I can hopefully inspire

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people that I can bring people in at this higher level and then actually be able to

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execute?

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Welcome to the game where we talk about how to sell more stuff to more people in

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more ways and build businesses worth owning.

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I'm trying to build a billion dollar thing with acquisition.com.

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I always wished pesos, Musk and Buffett had documented their journey.

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So I'm doing it for the rest of us.

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Please share and enjoy.

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Business owners, I think we can all agree that one of the most important things

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that happens as we grow is that we learn frameworks.

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And that's why when you look back at what you used to accomplish, you know,

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years ago, it seems like you could fix this problem so easily because you have

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frameworks with which you've learned to think, right?

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And so it took me six years to build my first eight figure company, six and a

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half to build my first eight and a half figure, sorry,

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multiple eight figure company because that was the same company.

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The next company that I did that was multiple figures was it took me

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a year to build and the one after that took me six months.

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And so we've gotten faster and faster and faster at doing this.

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And I know I've done over 120 million in sales across different industries.

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And one of the key frameworks that I've developed or helps me think through

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things is someone to share with you today.

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All right.

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So there's kind of three levels of employees or talent, right?

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And this really applies to you or your team itself because at the beginning,

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it's you, right?

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And so depending on where you're at, you may be at one of these levels or you may

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have to recognize it in others.

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And I'm going to say in three different ways, the simplest way to think about

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this is in the beginning, you have to learn what to do.

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All right.

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These are the skills, right?

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And that's because what you are in the beginning is an individual contributor.

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All right.

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That means you actually have to get things done in order for them to, you know,

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happen, right?

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And so what you're doing at this point is you're doing, right?

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All of your time is spent doing the things, right?

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Learning what to do, et cetera.

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Now the reason it's really important to be able to recognize where you're at is

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because then you'll be able to look through this framework and immediately see

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what you need to do next to the same degree.

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You may have gone through this, but not have recognized the shifts.

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And you can look at an employee and say, I think they're in this book.

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I think they're in this bucket.

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I think they have the potential to get to this bucket, et cetera.

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Many times people will stick at one level because of their own beliefs that

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they have about themselves, which is why we, you know, Laila,

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and I believe that identity is very fluid.

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If you want to be successful because you have to be able to change what you

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think about yourself in order to become the thing that's going to, to

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de-bottle neck the business because ultimately it's costing every single

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human on earth a billion dollars a year, not knowing how to create a billion

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dollars a year in revenue, right?

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And that's how I always think about this is like it is costing me so much money.

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My ignorance is costing me so much money.

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And so hopefully with this, I'll break down some of the other things that you

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won't be ignorant to so you can recognize them and other people.

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So level one is understanding what to do, right?

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Which means you're an individual contributor and what your time is spent is

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doing. All right.

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The second level here is understanding how, all right?

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So you started to do it, right?

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The what you figured this out, but then you have to figure out the how

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you're actually doing it, right?

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And the reason for that is because the next level, you become a manager,

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all right?

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And that's making sure that other people can do that thing and they're

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consistently executing at a level that works, right?

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And so here what you're doing is you're teaching, right?

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You're teaching other people to do the thing, right?

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And so in the beginning, you're doing, right?

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As an individual contributor, you have to focus on what it is, right?

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The next level, you're doing all the doing and you're like, you know what?

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I feel like I understand this better, right?

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I feel like I understand the sequence of how this works, right?

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And then you can teach other people how to replicate that skill.

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And at the very end, I'll show you how to apply this to departments in a second.

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All right.

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So stay tuned for that.

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But this is level one, right?

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As you're looking at yourself or an employee, right?

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Level two is, oh, I think this person could teach other people.

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I think they could manage them.

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And as a quick caveat here, like not every, like managers don't necessarily need

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to know how to do something better than an individual contributor.

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There's always going to be niche expertise, et cetera, but they should understand

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how it works, right?

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And so this is just an important, like, just nuance to note there, right?

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The third level is what I look at is the who, right?

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And I know this may sound odd.

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It's like what and then how then who?

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But that is kind of what it evolves to over time.

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All right.

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The title is a leader, all right?

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And these are very different than managers, which is something that I

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to realize as I was scaling the business.

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And you know, usually at this level, this is where you're at your, you know,

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three-ish million dollar a year level.

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And this is what allows you to crack open to the million plus per month level.

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So 10, 10 million pluses, you have to have leaders that are engaged, right?

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And the thing that you're doing is your systematizing, all right?

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And so what I'm going to, I'll say this in different ways too, because I think

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it's worth noting is building the machine that builds the machine, all right?

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And the reason that's important is because first you're doing it, then

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you're teaching it, and then you need something that can teach it for you.

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That's kind of how this works, right?

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So it's always, it's not delegating it.

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It's systematizing.

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So it's really, I was trying to be thoughtful about what order I was going to use

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there because it's like, is it delegating it?

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Is it handing it off?

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It's systematizing it.

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And there's a lot of different ways you can system, you know,

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build a machine that builds the machine.

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But if you think through this in terms of your own frameworks, the reason that

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I like this is that you can actually grade yourself in terms of where you're at.

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You can grade yourself in terms of where a team member is at.

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And you can even grade departments, right?

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Within your business, which depending on what your size is, your departments

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might just be, might be things that you were doing, right?

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If there's, if you're a partner, for example, then like you wear all the hats,

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your finance, your HR, your legal, your IT, your marketing, your sales, your product,

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your fulfillment, you're all of those things, right?

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But as you grow, you know, in the beginning, you'll have your first core team

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with probably five people and the, the each one of those functions you have.

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Somebody helps you with, you know, delivery.

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You'll have somebody who helps you with, you know,

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finance who does bookkeeping, maybe somebody helps you with marketing.

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Maybe that's you, somebody helps you with sales, et cetera, right?

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And so what you can do is you can look into department and say, what level am I

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involved here, right?

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Real quick, guys, you guys already know that I don't run any ads on this

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and I don't sell anything.

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And so the only ask that I can ever have are you guys that you help me spread the word

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so we can have more entrepreneurs, make more money, feed their families,

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make better products, and have better experiences for their employees and customers.

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And the only way we do that is if you can rate and review and share this podcast.

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So the single thing that I have to do is you can just leave a review,

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let's take a 10 seconds or one type of the thumb.

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It means the absolute will to me and more importantly, it may change the world for someone else.

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And eventually the goal is that you can move, right?

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Move above, right?

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Me equals, you know, CEO.

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And so you have a team of leaders who are building the machine that builds the machine for you

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so that the actual whole thing works without you being there

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besides providing the vision and strategic insight for making decisions, right?

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And so for me, I define this within a business where I'm no longer on the Slack channel.

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So in our portfolio companies, if I am no longer on the Slack for that company,

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meaning no one can reach me besides the one person who's in charge for that company,

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that is what I believe is a truly delegated business that acts as a portfolio

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where you are actually an owner, right?

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I can't say the amount of times I talk to entrepreneurs.

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And they're like, oh, yeah, I could totally take this new project on.

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Like, my business is totally systematized.

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And I'm like, dude, like, no, it's not.

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Like, your phone's blowing up twice since we've been on,

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like, since we've been sitting here talking.

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Like, yeah, I mean, just because you don't have to respond to something

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in the moment doesn't mean that you don't have to eventually respond to it

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or make a decision or et cetera, right?

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Like, those are things that are still levels of involvement

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that require your existence and presence.

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And so for me, it's if I'm not in the Slack channel,

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I have one meeting a week with one of our portfolio companies,

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the manager operator, et cetera, of a portfolio company.

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And between that time and the next time the company can continue to grow

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without my direct involvement, that is what I would say

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is checking all the boxes for me.

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And if something's not checking all the boxes,

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you can check all the boxes at a business level,

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but you can also just look at this as a department level.

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And the reason I think it's so important

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is that it can give you a grade that you can look at to improve.

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So you might have marketing and you might have sales

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and then you might have product and then you might have

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shared services, which would be like IT, legal, HR, all that kind of stuff, right?

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And you can look at yourself and think, okay,

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do I have in sales, for example, do I have people who can,

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like, am either one doing the sales?

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Okay, well maybe I'm not doing the sales,

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well I'm the one who's teaching people at a sale.

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Okay, well have I built a machine that teaches people at a sale

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so that I don't have to do the teaching of selling.

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So I can actually just bring people in on a consistent basis

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and get them up to speed, right?

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That's where you start looking at like hiring one,

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two, three sales people a month, right?

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And then you put them through the machine

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that builds sales people, right?

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And so you can look at these levels within each of the departments.

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And so maybe that's where your sales is at, right?

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You've got a machine that builds the machine, awesome.

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But is your marketing there, right?

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Do you have a machine that builds the machine there

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or are you still doing or are you still teaching people, right?

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Here's one of the things that I think, for me,

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it took a long time to realize this at.

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It's actually your strengths oftentimes,

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which become almost always the bottleneck in the business

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because the things that you don't know,

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you're far more comfortable giving a way to people

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so that they can build these things, right?

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Because they have better expertise

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because they know how to do teach, et cetera.

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And that's where you, as a CEO, as an entrepreneur,

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is you actually have to walk them through these things.

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So it's like, okay, great.

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You know how to do some, whatever it is,

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the delivery of your product.

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You toss them when I do that.

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It's like, great.

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Now I need you to teach someone else how to do that.

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So we can build a team of people

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who are doing that so we can scale, right?

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And then finally, at a certain point,

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it's like, man, I'm spending all my time teaching.

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It's like, okay, well, we need to build the machine

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that does the teaching for you.

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And so I think if you can think through this framework

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for each of the departments that you have in your company,

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you'll figure out where your bottlenecks are.

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And it'll at least give you a grade.

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And so every quarter, you can look at your business

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on a little sheet like the thing.

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Okay, do people know what to do?

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Do we have the base skill?

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Okay, do we have this sequence?

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The how to do it, right?

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Teaching people step-by-step how to do this process, right?

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And hold them accountable.

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And then finally, can I find somebody

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who can help systematize and build the machine

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that builds the machine that recreates the skill

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over and over and over again in other people, right?

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And so that's kind of the process.

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And what's interesting, if you listen to Reed Hoffman,

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founder of LinkedIn, he talks about the difficulty

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for most employees, most people to jump these levels.

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It's very difficult for most people,

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which is why, especially like rapid growth companies,

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they'll often have to, you know, change out,

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I'll say leadership with quotes here,

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just anyone who's in charge,

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because in the beginning, there's probably more managers

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and over time there need to be leaders.

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And a lot of times the managers,

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despite their tenure, aren't actually leaders, right?

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And so when I'm looking at talent within our own business,

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I'm thinking, okay, who's a good individual contributor?

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And sometimes good, amazing leaders

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are terrible individual contributors.

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And sometimes, a lot oftentimes,

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good individual contributors are terrible leaders, right?

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And so it takes a very unique person,

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which is why being out first so hard

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is that you have to really master all of these levels

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so that you can recognize it and teach it in other people.

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Because ultimately, what we're doing

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is we have to walk the path that every person

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who's behind us must walk,

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which is why entrepreneurship is such a growth oriented

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occupation, like you have to grow yourself

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in order to attract people who are at a certain level, right?

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Like imagine if you were to start working for somebody

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and you feel like way more than them

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and that they're just have no idea what they're doing, right?

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Then it's unlikely that you're going to be very influenced

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by that person.

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That person's not gonna inspire you to do anything.

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On the flip side, if you were to start working for somebody

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and you aspire to be like them,

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you like their character traits,

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you love the way they operate in their personal life

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and how they do business, et cetera,

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then that is something that you were being led by, right?

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And so for us as entrepreneurs,

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like a lot of times we have to think like,

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how can I improve my character?

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What are the traits of mine that are deficient

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so that I can hopefully inspire people

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that I can bring people in at this higher level

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and then actually be able to execute?

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Because I can't tell you the amount of times,

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I can't even, like most entrepreneurs I'd talk to,

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I'd say 95% of them are like,

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oh, my team's amazing, I love my team, they're awesome.

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And at the same time, they have all these horror stories

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about teammates and I can't say, like,

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amount of times I've talked to somebody

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they said their team was awesome,

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then I talked to them nine months later, like,

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oh no, no, that team was an awesome,

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this team's awesome, right?

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And I'm like, dude, the perspective

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of what you make judgments is flawed

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and I don't believe anything you say

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because every time you've said this,

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it has been wrong, so why would I believe differently now?

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And so these are the levels that I think of for myself,

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my employees, departments, and then ultimately the business.

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This is just a different way of thinking through it,

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hopefully it was valuable for you.

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If you have these frameworks,

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you can look at your own businesses,

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apply things faster and break through the bottlenecks

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that you have so you can get to where you want to go.