Do you know how productive you are? How about the people on your team? Answering this question is what Liam Martin, Co-Founder and CMO of Time Doctor and Staff.com, does. On today’s episode of the Launch Youniversity Podcast, Liam tells us how solving his own problems helped him build a business out of solving the same problems for others.
Links + Resources:
Liam on Twitter
Related Reading: How to Find Time to Work on Your Idea
1. Fail fast and fail cheap.
When you’re building a business, experimentation is everything. Experimentation means learning what works and what doesn’t work. Don’t waste time and capital on what doesn’t work…fail fast and as cheaply as possible. Then, you’re in a position to quickly pivot.
2. Build a $1 million-dollar business before a $100 million-dollar one.
As launchers, we tend to dream big…which is great! However, sometimes the dreaming big means we’re focused on building a $100 million-dollar company before we have any company. Liam, who is seasoned in growing a multimillion-dollar company, advises starting smaller. Learn how to run a million-dollar business and do it well; then, you’ll be able to take the next jump.
3. Leadership matters.
Liam’s company can predict when the people in your organization are going to quit. What is one of the top common denominators? Leadership. If we want to keep a great team around us, we have to be mindful of how well they’re being led. Even if a department is performing well, if people are leaving, we should pause and ask, “Is this a trend?” Don’t let bad leadership undermine what you’re trying to do with your team or company.