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The Martell Method w/ Dan Martell

8 Rules to Start a Business That Runs Itself

The Martell Method w/ Dan Martell

Dan Martell

Business, Entrepreneurship

4.9626 Ratings

🗓️ 28 September 2024

⏱️ 19 minutes

🧾️ Download transcript

Summary

>> Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 

>> Subscribe to My Newsletter: https://bit.ly/3W2tjp2

What if your business made you money while you slept?

Most founders are trapped. They work crazy hours. Always putting out fires.

And can’t step away without the whole thing falling apart.

I’ve been there.

But what I’ve learned is you only need 8 frameworks to make your business run without you.

These are the exact frameworks that helped me hit my first million at 27.

And today, they let me run multiple companies without being involved.

If you want to scale, free up your time, and finally build a business that works for you - this is for you.

Here’s what you’ll learn:

  • The 10-80-10 Rule: How to focus on the high-leverage stuff and let your team handle the heavy lifting
  • The DRIP Matrix: How to figure out what tasks light you up and what’s dragging you down
  • Audit-Transfer-Fill: How to instantly identify what’s holding you back and get it off your plate
  • The Camcorder Method: The simplest way to document and delegate tasks with zero extra training
  • The ‘$50 to Fix It Rule’: The best way to stop bottlenecking decisions and let your team solve problems on the spot
  • The ‘1-3-1 Rule’: A proven way to push decision-making down to your team and keep things moving
  • Transformational Leadership: Why most founders hit a wall at 12 employees (and how to bust through it)
  • The ‘COACH Framework’: How to develop your team so you’re not stuck giving the same feedback over and over

IG: @danmartell

X: @danmartell

Transcript

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0:00.0

There's only eight specific frameworks that a business needs to run on autopilot and make you money while you sleep.

0:05.8

Without these, a business can't scale effectively or make you financially free.

0:10.0

While some of these seem counterintuitive, they're what I use today to run multiple companies that make me millions of dollars where I'm not involved.

0:17.5

And what I've learned spending time at some of the richest people on the planet.

0:20.5

So without further explaining it, these are the eight frameworks to build a business that runs

0:24.4

itself. Welcome to the Martel method. I went from rehab at 17 to building a $100 million

0:29.7

empire and being a Wall Street Journal bestselling author. In this podcast, I'll show you exactly

0:35.2

how to build a life and business you don't grow to

0:37.6

hate. My bestselling book, Buy Back Your Time, is out now. Grab a copy at buybackyourtime.com

0:43.3

or at any of your preferred online retailers. The first framework is the 108010 rule. Most people

0:49.7

don't ever understand how to get free from their business. As an example, this video, if I use

0:54.0

the 108010 rule, it's the first 10% is ideation. So when I sit down with my team and we ideate around the ideas, the positioning, the packaging, the thumbnail, the titles to really get the core concept right. That's the first 10% I'm involved there. The next 80% I'm not. That's all about execution. Think about the production side of it,

1:11.9

about choosing locations, the videos, the lights, the setup. I just sit down and show up and talk to you

1:17.1

guys. Everything's outline. Everything's figured out. That's the 80% that's managed by other people on my

1:22.1

team. And then the last 10% is when they call me in to review the integration. How does the video get published? How do we

1:28.8

engage other people to promote it so we get more audience? If you do it this way, that's how you get

1:33.6

a lot of creative projects done without eating up all of your time. For example, Steve Jobs would do

1:38.5

this with Johnny Ives. He would go into the design studio and Johnny was there and they would

1:42.5

collaborate and ideate and Steve would learn about this new little hard drive or this new technology for screens or whatever

1:48.4

it is and he would just share that with Johnny and then Johnny would go off and the 80% is

1:52.5

the prototyping, creating simulations or playing around with the different ideas and then the last

1:57.3

10% is the integration is when Steve would take a finished product and then present it on stage at one of their events. That is still how Tim Cook does it today. The first 10% is the roadmap and figure out where they're going to go. 80% is done by Johnny. The last 10% is integration. Most people just assume, well, I'm a magical snowflake and I'm very different and my process is very artistic and nobody else could do it like me. That's a story you're telling yourself to stay stuck. And the sooner you address that, the sooner you're going to get free from your business and actually build a business that other people can grow and scale and you can collaborate with. I'll tell you, it's just a lot more fun. Which brings us to number two, which is the drip matrix. And I copied this right out of my book, Buy Back Your Time. I believe every task sits on two axes, one of money and one of energy. Bottom is things that light you up, that give you energy. There's probably work that you do every day that honestly you'd probably do for free. That's the kind of stuff that I call green energy. But in the same token, there's probably things you're working on that would suck your energy that just feel like a chore. And those are red energy. On the other side is things that make you money. There's like $10 task in your business. They got to get done, but they're not making you money versus actually doing the work. If you could spend 40 hours a week just doing work that makes you $100 an hour, that's how you get rich.

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