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The #1 Thing You Need to Do to Grow Any Business Successfully | Ep. #802

Oct 11, 2018

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In episode #802, Eric and Neil discuss the #1 thing you need to grow a business successfully. Tune in to hear what you absolutely must do to be a success.

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TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: The #1 Thing You Need to Do to Grow Any Business Successfully
[00:35] The #1 thing is not a marketing tactic, it’s people.
[00:50] Without a great team, you are not going to grow your business.
[01:37] CEO’s have three responsibilities: Keeping money in the bank, driving the vision, and recruiting.
[01:47] The Dropbox CEO recently talked about how recruiting is always top of mind for him.
[02:16] Bill Gates said the first 20 people at Microsoft built the company.
[03:03] If an employee isn’t a cultural fit, they aren’t going to stick around.
[03:15] Only hire people who are smarter than you and from whom you can learn.
[03:25] Make sure you really interview each applicant and talk to their references. Figure out if they are truly a good fit.
[03:47] Always test people out.
[03:56] Make sure multiple people on your team interview each person.
[04:11] Make sure they lay out a plan of action for their first few weeks or months at the company.
[05:05] Do indirect reference checks (basically, be a detective).
[05:30] Sometimes, Eric has gotten glowing reviews and other times, he has gotten more realistic information.
[06:15] You have to have each person ask different types of questions in the interviews.
[06:32] The CEO of Drift secretly tests people in interviews: he gives each candidate a cup of water and sees if they throw it away at the end of the interview.
[06:35] Eric also does this and doesn’t hire anyone who doesn’t clean up after themselves.
[07:18] If you can get people who can do the work, but won’t be a long-term fit, you are rolling the dice on mercenaries.
[07:48] That’s it for today!
[07:54] Go here to see how many downloads the show is getting. Also rate and review to help Eric and Neil meet their goal of 1 Million downloads per month.