Displaying All Posts from November, 2009

Mechanics Need Tools

mechanicAnd so do you.

Whether you’re the CEO of a Fortune 500 company or Joe Schmo starting your first business, you’ll need the right tools to do your job effectively. This is obvious, right? Well, not so much. Oftentimes a business owner will only buy what they need – not what they should have.

A mechanic could work this way as well – instead of buying a (more expensive) ratchet set, they COULD get by with just an open wrench. If mechanics worked this way, they’d take twice as long to get the job done. And no, this doesn’t mean they’d make twice as much money – soon the customer will realize they can go elsewhere, and pay half as much for labor costs. Does an oil change shop really need that fancy (expensive) drive-in setup to change your oil? No. Do they make more money because of it? Yes.

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Replace Yourself – A Guide to Delegating Your Workload

clonesFor most entrepreneurs, ambition far exceeds even a superhuman workday. No matter how you slice and dice it, one person can only do so much. To do more, requires something more than working really, really hard. It requires delegation.

There may only be one of you in the world, but there are plenty of other people. So to overcome the speed bump of your own personal capacities, you’re going to need to get other people to do your work. This can be quite a daunting prospect, after all how do you find people? How can you trust them to do a good job? How do you pay them? What if they don’t work out?

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Hypothetical CEO – What Would YOU Do with Facebook?

FacebookCEOIn the past few months, Collis has hosted two games of Hypothetical CEO. We pick a company or situation, and you place yourself at the helm and form strategies to solve problems, which you then post for all to see in the comments. Our first rounds, looking at Twitter and YouTube, generated some excellent discussion.

As Collis has said, “Sessions of the Hypothetical CEO are going to become a regular post here on The Netsetter so our little band of startup junkies can get to know each other. So even if you are normally a comment lurker, I highly encourage you to join in, throw some opinions around, even if they are wild, silly or daft ideas!”

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