Ep 41: Finding Balance in Business Building with Mike Michalowicz

Entrepreneurs are known for being very attached and involved in their business but often this is actually harmful to them and their business. Mike Michalowicz joins me on the show to talk about how we should be able to step away from our businesses in a way that makes it more effective and allows us to be of more value to ourselves and the business. He also shares a unique perspective on how to hire and encourage self-sufficiency in your employees.

Mike sheds a light on the dark side of productivity and how we often create more work and future stress for ourselves by going about it wrong. He discusses the importance of emphasizing your best offering and focusing on delivering that more than anything else. Mike talks about great business prescriptions like better delegation, rewarding employees for decisions, matching people with the right tasks, the trim mentality and more.

Listen to the Full Episode:

What You’ll Learn In Today’s Episode:

  • Why nerds rule.
  • How Mike came up with the book.
  • Debunking the saying – you either have time or money, not both.
  • Understanding how Parkinson’s Law works and how it effects business earnings.
  • How hourly return works and a better way to look at it.
  • How and why you need to hire.
  • Why quality and skill are not directly related to pay.
  • The dark side to productivity.
  • What organizational efficiency and why entrepreneurs need it.
  • What task rabbiting is and how to do better for business.
  • The 7 step process of clockwork.
  • Ensuring what you deliver is primary to everything else.
  • The first easy step to move your business forward in the Clockwork mentality.

Ideas Worth Sharing:

If we simply focus on doing more and being more productive, we’ll keep packing and packing more and more work until we become impacted with work and then we’re in real trouble. - @mikemichalowicz Click To Tweet Clockwork was an exploration of what will make a business run on its own – allowing the business owner to do what they want, when they want both in their life OR in their business. - @mikemichalowicz Click To Tweet When they take their profit first, this forced frugality requires them to evaluate what products or services they sell are profitable and what are the best customers. It actually forces them to niche specialize. - @mikemichalowicz Click To Tweet

Resources In Today’s Episode:

 

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