Business
Freedom, time, and the ability to make more money are the top three reasons most entrepreneurs will give as their reasons for becoming entrepreneurs. So how is it that so many entrepreneurs find themselves stuck in the hustle and grind, with LESS time and freedom than they want, instead of more? That’s exactly what James and Dean are diving into in this week’s episode. Whether you’re a solo entrepreneur or already have a team, tune into this week’s episode to hear how to detox from the hustle by turning your business into an asset that works for you (instead of the other way around). Outline of This Episode 2:54 Do you HAVE to “kill yourself” to grow your business? 6:06 Busy is not the same as productive 11:32 Unintended consequences of success 19:31 Where to focus to get results 23:59 Take action on the right things 28:40 The efficiency trap 35:47 Spread super thin You’re not doing it right A false perception has taken hold of the entrepreneurial space--that you HAVE to hustle and grind 24/7, lose sleep, alienate your loved ones, and destroy your health. If you’re not doing all those things, you’re not “doing it right” and you don’t want success badly enough. It’s true that hustling has a place, especially when you’re in a growth phase, but not how your business has to always and forever operate in order for you to become and stay successful. Think like a CEO, not like an employee Many entrepreneurs, without realizing it, think like an employee instead of like a CEO. It’s a huge part of why they end up shackled to their business, instead of their business becoming a vehicle to freedom, time, and unlimited income potential. Growing and scaling your business without 24/7 hustling and grinding requires making intelligent decisions at a high level, and that comes from thinking like an effective CEO. Productivity vs. activity A lot of people mislabel activity as productivity. Activity is “being busy,” which may or may not grow your business. Productivity is focusing on what will move your business forward NOW. If you’re active without being productive, you end up stuck in the grind with nothing to show for it. Make sure what you’re working on is the next best step to help your business grow. Focus, then execute Step one is to identify where your focus needs to be right NOW. Where that is depends on your business and how far into it you are. Once you’ve identified where to focus, step two is to execute...but not just on any old thing. It has to be focused. Mediocre execution focused on the right thing is always better than perfect action focused on the wrong thing. When things that are proven to work don’t work, always assume it’s because there’s a flaw in your execution. Then work on finding and removing that flaw. Are you efficiently doing the wrong things? Efficiency is not about doing more, better. It’s about doing the right things better. A mistake a lot of people make when trying to systematize their business is efficiently doing things that don’t need to be done at all. The quickest path to a more efficient business is to remove tasks that don’t need to be there. Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License Connect With James and Dean James P. Friel: CEO Quickstart: https://jamespfriel.com/ceo-quickstart/ Facebook Group: https://www.facebook.com/groups/hustledetox/ Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/ Site: www.jamespfriel.com Interested in being a guest on the show? Dean Holland: Blog: www.DeanHolland.com FB Page: https://www.facebook.com/DeanHollandHQ Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/ JTT Facebook Page - https://www.facebook.com/justthetipsshow/ JTT Listeners Free Portal: www.JTTShow.com