4 costly mistakes killing your startup (and how to fix them!)
TRANSCRIPT
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FREE WEBINAR4 Costly Mistakes Killing
Your Startup ( and How to Fix Them! )
Eric CozartEntrepreneur, Podcast Host, Business Nerd
Founder Dirt Cheap Startup
Sean MillerBusiness Operations Guru
Startup Founder - CEO Simplifyd
Presented by:
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INTRODUCTION
ERIC COZART
SEAN MILLER
Founder Dirt Cheap Startup - Business Nerd - Coach
CEO / Founder of Simplifyd
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Stick around until the end for an awesome free gift that will drive this home
p.s (we are not selling anything)
A LITTLE TREAT
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“Your biggest enemy in life are your bills” - Mark Cuban.
HOUSTON WE HAVE A PROBLEM
Most startups never talk about… How to spend LESS
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Hiring the right person for the wrong job - You don’t need as many people as you think you do.
Forget specialists, you need a broad talent skill set.
It’s CRITICAL to have a clear job description in place BEFORE hiring.
HIRING THE RIGHT PERSON
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Spending Habits Killing Your Business - Shiny object effect.
Ignore everything that is not critical.
Subscriptions can get out of control quickly.
It’s ONLY $10.. That doesn’t occur in a vacuum.
Make a list of all your monthly expenses!
Each seem or silo can cost you over $1400 per year, per person according to Price Waterhouse Cooper Study.
TOO MANY HANDBAGS...
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IT’S OK I’LL DO IT….
Focusing on too many things, and not delegating, finding tools to accomplish low value tasks.
Your “to-do” is always infinite, but your time is finite.
Approach each task strategically.
What tools are you using that can automate certain tasks / eliminate duplication?
Map out each daily task, if it’s something you do more than twice per day, develop a system and automate it.
(record via screencasts, take notes, powerpoints whatever it is, just get it on paper).
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How to Build a Company… Not Just a Product
It’s very different to build a company vs a product.
They need to be approached differently.
Spending foolishly on swag, shirts, stickers, cards, coffee mugs is for companies… not startups with a product.
Focus only on things that grow brand awareness and drive sales. Those cool new desks everyone wants? Earn it!
IF YOU BUILD IT, THEY WILL COME
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RecapA. Have a clear job description in place before hiring anyone to do anything
(look for a broad skill set early on)
B. Streamline systems whenever possible… look for similar capabilities. Make a list of expenses and track very carefully
C. Create systems around repeating tasks and then automate. Take notes, create a presentation, screencast, etc
D. Save your money for product development and sales. Stop buying anything that doesn’t drive growth. Create an “earn it culture”.
JUST INCASE YOU DRIFTED OFF….
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Thank You for joining us - Find us Elsewhere
@cheapstartup
@getsimplifyd
THANK YOU!