E65: In today's episode, I revisit and remake one of the popular episodes to date and to be honest, one of the most important concepts that all founders should know - the I – We – They Framework, which has accelerated my business growth and could do the same for yours.
I'm sharing this framework that I developed to help me gain clarity on what I need to work on depending on the stage of my business. I wish that someone had taught me this framework 8 years ago when I first launched my first business.
On today’s episode, you’ll learn:
- How to Delegate Properly
- 3 Stages of Growth for Every Business
- How to Promote a Culture of Ownership
- What Systems You Need to Scale Your Business
This episode distills down many years of my own entrepreneurial experience into one short episode. Don't miss it!
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EXCERPTS:
Business Growth Phases: "In the 1st phase, you were a newborn, an infant, a toddler, flailing and grasping at everything and trying to gain a basic understanding of your business. In the 2nd phase, you're a child, making friends and allies and building relationships with the people around you, which means now it is time for you to grow, both literally and figuratively." — Yong-Soo Chung (18:28)
Building an Ownership Culture: "Each employee should believe that they own a certain part of your business, and they are a 100% responsible for that part of the business. Just make sure that you aren't causing any decision making bottlenecks at the company when you do this." — Yong-Soo Chung (25:52)
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LINKS:
Episode 25 - How To Turn Your Side Hustle Into a Million-Dollar Business as a Creator
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First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc.
Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more.
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