Entrepeneurship 7

Entrepeneurship 7

Hello. I am Maya. I focus on team culture and finding the right people. Hi. I am Leo. My role is understanding the founder hustle and business strategy. Greetings. My name is Sam. My role is planning delegation systems and technical growth. And I am Chloe. My role is explaining hiring logistics and remote management. Today we are going to explore team building and the power of hustle. We will learn how to scale your business by finding incredible people to help you. Let us start with the early days of building a business. When you first launch a product you are usually working completely alone. This period requires a massive amount of hustle. You must act as the developer and the marketer and the customer support representative all at the exact same time. However working this hard forever will lead to severe burnout. Every successful business eventually outgrows the capacity of its original founder. To start building a team you must first audit your own skills. We use a framework called the Hustler Hacker and Hipster matrix. The Hacker is the person who builds the technology and writes the code. The Hipster is the person who designs the brand and creates a beautiful user experience. The Hustler is the person who sells the product and manages the business operations. You must look at yourself and identify your core strength. Once you know your strength you can easily spot your fatal skill gaps. A fatal skill gap is a missing talent that will cause your business to fail. For example if you are building a complex software application but you do not know how to code that is a fatal gap. You must find a Hacker immediately. Once you identify your missing skills you must decide how to fill them. You have two main options. You can find a co founder or you can hire a freelancer. A co founder is a business partner who owns a percentage of your company. This percentage is called equity. You should only offer equity to someone who provides a massive core skill that you absolutely need for the next ten years. To protect your business you must use a vesting schedule with a one year cliff. A vesting schedule means your partner earns their equity slowly over four years. A one year cliff means if they quit before their first year is finished they get zero percent of the company. If you do not want to give away equity you can hire a freelancer. A freelancer is an independent worker you pay with cash for a specific task. You can find excellent freelancers on websites like Upwork. Freelancers are perfect for isolated tasks like writing blog posts or designing a single logo. The best strategy is to test a freelancer on a small project first. If they communicate well and deliver high quality work you can hire them for long term projects. Having long term help is much more valuable because they will eventually understand your business perfectly. When you hire these new team members you must teach them how to do the work. The biggest mistake creators make is trying to micromanage everything. Micromanagement is when you constantly watch and correct every single thing your employee does. This completely destroys the purpose of hiring help. Instead you must use the Do Document Delegate framework. First you do the task yourself so you understand it perfectly. Second you document the exact steps required to complete the task. You document this by creating a Standard Operating Procedure. A Standard Operating Procedure is a highly detailed step by step checklist. The fastest way to build this checklist is by using screen recording software like Loom. You simply record a video of your computer screen while you perform the task and explain your actions out loud. Third you delegate the task by giving the video and the checklist to your new team member. A great Standard Operating Procedure ensures that a new person can complete the task with at least eighty percent accuracy on their very first try without asking you any questions. This frees up your valuable time to focus on growing the company. As your team grows you must build a strong company culture. Culture is how your team communicates and feels about working together. This is especially critical if your team is working remotely from different countries. You must establish a regular communication rhythm. A rhythm means holding meetings at the exact same time every week or month. You should set up bi weekly webinar meetings to share big company updates. You should also hold weekly check ins with individual workers to see if they need any help. Many teams use sprint reviews. A sprint review is a meeting where the team looks at all the work completed in the last fourteen days and plans the next steps. These regular meetings build a culture of relentless accountability. Accountability means everyone promises to finish their work on time and they actually deliver on that promise. When people communicate constantly the entire business moves much faster. Building a team and learning to delegate has clear benefits and risks. Let us look at the pros and cons clearly by listing each separately. We will start with the pros. Pro number one. Time freedom. When you delegate daily tasks to standard operating procedures you win back hours of your day to focus on high level strategy. Pro number two. Diverse skills. Hiring a team allows you to add brilliant hackers and hipsters to your company instantly covering your own weaknesses. Pro number three. Faster scaling. A team of four people working together with great communication can achieve ten times more than one person working alone. Now we must look at the cons. Con number one. Financial cost. Hiring high quality freelancers or paying salaries requires significant cash flow. Con number two. Management time. Fostering culture and running weekly sprint reviews takes time away from building the product yourself. Con number three. Hiring mistakes. Sometimes a co founder will leave before their one year cliff or a freelancer will deliver terrible work causing you frustration. So how can a learner like you use this information to improve your life. Understanding how to build a team is the ultimate multiplier for any goal you have. Even if you are just planning a large community event you need to know how to delegate tasks effectively. Here are some excellent tips for your leadership journey. Tip number one. Always audit yourself honestly. Do not pretend to be a great designer if you are actually a great salesperson. Focus entirely on your strengths and hire people for your weaknesses. Tip number two. Record a screen video for everything. Any time you do a task that takes more than ten minutes record your screen. You will eventually build a massive library of training videos for future helpers. Tip number three. Over communicate with remote workers. When you cannot see someone in an office you must send them regular messages to ensure they feel valued and aligned with your goals. Let us quickly review our key takeaways so you remember the absolute best strategies. First you must avoid early burnout by prioritizing your time and identifying your fatal skill gaps using the hustler hacker hipster matrix. Second protect your company by using a one year cliff vesting schedule for co founders and use platforms like Upwork to test freelancers for long term help. Third use the do document delegate framework by recording standard operating procedures so you do not micromanage. Fourth establish regular weekly check ins and sprint reviews to foster a culture of relentless accountability across your entire remote team. Thank you for exploring team building and the power of hustle with us today. Keep asking great questions and keep leading amazing teams.