F2L2 Leaks: Q & A With Cameron Herold

May 4, 2017

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When you have the opportunity to ask direct questions of a person who has successfully done what you desire to do - multiple times - you need to make the most of that opportunity. That’s what happened at Freedom Fast Lane LIVE in 2016 when Ryan was able to sit down across from business consultant, Cameron Herold. This conversation is that Q&A session. You’ll hear Cameron answer questions about what’s important in life, how to deal with stress, what makes companies grow from $1 million in sales to $3 million in sales, team building the right way, and more. It’s a great conversation packed with relevant, applicable tips you’re sure to gain great value from.

There’s not a single business problem that exists that can’t be solved by revenue.

When Cameron Herold addresses the problems in any business he always looks at how to fix the problem through the lens of revenue. In his words, “There’s not a single business problem that exists that can’t be solved by revenue.” In this conversation between Cameron and Ryan Moran, you’ll hear why Cameron says that - and even get to listen to a couple of examples of how he’s advised companies to make slight shifts that increase revenue for the sake of addressing specific problems in the business. You won’t want to miss these real-life examples.

The best way to deal with stress as an entrepreneur.

It wasn’t too long ago that Cameron Herold was told by the doctor that his body was on the brink of shutting down due to the stress levels he was constantly enduring. It was enough to make him take a step back and regroup. He had time to evaluate the things in life that mattered to him - his family, his health, his relationships - and make changes to ensure that he would be around to enjoy those things. In this episode, Cameron gives specific tips about how to build margin into your life that enables you to live the kind of life you really want to live instead of sacrificing the quality of your life for the sake of business success.

The main responsibilities of CEOs are not what you think.

CEOs are the vision-keepers of the company. That’s what business consultant Cameron Herold says. It’s their job to keep the vision alive and in front of the team at all times. When the leader is too busy doing low-value things, that vision ball gets dropped. Cameron’s advice: outsource or delegate the things that you should not be doing as the owner or CEO. Focus is your friend and once you have others who are more talented at the minutia taking care of it, you will be free to do what only you can do - cast and keep the vision and build the team that will support that vision.

Why you should fire employees who are C-players - immediately.

In Cameron Herold’s view, A-players are your superstars and leaders, B-players are the workhorses who get the work done, and C-players should be removed from the team right away. The reason he’s so cut and dried about the issue is that the wrong person in the wrong position will cost you 5 times their annual salary in undocumented expenses - like client or customer dissatisfaction. You can hear Cameron’s advice on how to make those tough calls and have the conversations to let someone go - even before you have a replacement, on this episode.

Outline Of This Great Episode

[0:24] Ryan’s intro to this episode: Q & A with Cameron Herold.
[3:10] The first step to outsourcing for the one or two man run company.
[5:19] The roles Cameron would consider full time people to fill rather than outsourcing.
[9:05] How CEOs or business owners can deal effectively with stress.
[12:17] How to go from $1 million to $3 million.
[13:08] The main responsibilities of the CEO and traits of those who do it successfully.
[16:18] How to keep great employees.
[16:57] How to fire quickly.
[19:13] How to hire for culture and keep diversity.
[21:22] How to build culture in virtual companies.

Action Steps From This Episode

FOR GETTING STARTED: Take stock of where you are, make the right decisions about what you will work on, and stay focused. Focus is powerful for moving forward.

FOR GREATER SUCCESS: Outsource or delegate the things that you should not be doing as the owner or CEO. Focus is your friend and once you have others who are more talented at the minutia taking care of it, you will be free to do what only you can do.

Connect With Today’s guest: Cameron Herold

Resources Mentioned On This Episode

www.FreedomFastLaneLive.com - get on the waiting list for next year’s event.
BOOK: The Miracle Morning
BOOK: Double Double by Cameron Herold
BOOK: The Miracle Morning for Entrepreneurs
Facebook Workplaces

Connect With Freedom Fast Lane Live

Website: www.FreedomFastLane.com On Youtube On Facebook On Twitter On Google Plus On LinkedIn On Instagram

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