368: The key to scale your business – Delegation

Sieva Kazinsky joined me for a live workshop on creating a valuable business and what makes some businesses more valuable than others. In the full workshop we talked about what businesses we pick, why we like certain industries, how we build teams and delegate, and the three skills (sales, hiring, and delegation) that are key to a business owner building an asset that makes money while you sleep.

At its core, a business is nothing more than a group of people operating together. And that’s why hiring, delegating, and building teams are some of the most critical tasks a business owner can be responsible for. I used to have a victim mentality and blamed my employees and the labor market for my company’s problems until my business partner and I woke up and decided to take ownership. We realized that our employees weren’t succeeding because we were overcomplicating their jobs; drivers were making schedules, doing customer service, writing invoices, packing trucks, and had way too many other tasks on their hands. If you give your employees more than five or six tasks to excel at, they’ll struggle and do them all mediocrely. By simplifying the jobs we were able to make our employees more successful and reduce our stress loads.

Similarly, rather than blaming the labor market for our hiring problems, we recognized that 80% of the workforce neither hates nor loves their job. They’re open to something else, and we had to go out and hunt for people to work. When I saw a young man hustling as a cart returning at a Walmart in Boston, I started talking to him and gave him my business card. I asked him if he knew anybody looking for a job, told him about what we do, and he turned into one of our best employees. I began to carry business cards everywhere because I was always on the lookout for great employees, whether they were baristas, bartenders, or fast food workers. It’s hard, constant work, but that’s how you’ll find your most valuable talent.

Sieva has been tasked with finding higher-skilled talent and focuses less on being a hunter and more on being a honeypot. He spends his time and energy cultivating partnerships, bringing other local CEOs together monthly to learn from each other. He surrounds himself with interesting people, builds relationships, and met his business partner that way. This process turned into a high-leverage, life-changing event. Sieva’s able to find success by surrounding himself with good people and providing value.

We cover useful tips about hiring and cultivating meaningful partnerships.

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I started the Sweaty Startup in December of 2018 because I believe the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship.