Don't Be Afraid to Fire Fast

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.6 • 1.9K Ratings

🗓️ 15 July 2022

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Set the Stage: During the learning stage, introduce your values to new members of the team. It is vital that all employees are aligned with the values of your business. Help your team connect to what inspires them, and they are more likely to live by your business’s values. Execution: In the execution stage, employees learn to maintain proper balance in achieving the company’s mission. Having a motto or mission to guide employees during this stage is important for success in a values-based business. Think about your overarching goals and what you want to accomplish. How can you make your mission into your story? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is the labor.
0:03.0	You'll be very confident when you fire fast.
0:05.0	What do I mean by that?
0:06.0	So, I have a timing and wrist tolerance.
0:09.0	I always learn up front.
0:12.0	So, I believe hiring an employee is an investment.
0:15.0	I believe, you know, obviously,
0:18.0	any type of transaction with money or time is an investment.
0:21.0	So, any type of investment I make, I have a timing and wrist tolerance.
0:25.0	So, I hire slow.
0:27.0	So, I take someone and I have a period of 90 days
0:30.0	that I give you to where I know you're breaking even for me.
0:35.0	So, I quantitatively say, okay,
0:38.0	whatever that expense will be for 90 days,
0:40.0	then we'll reassess, but you've got to get to break even.
0:42.0	Then, in the X-180 to 360 days,
0:45.0	I want you to get the three times earnings for me.
0:49.0	And it's my job to create the systems to be able to identify
0:52.0	that value that you're providing.
0:54.0	And then, after that, becomes the equity phase.
0:56.0	So, you have a learning phase.
0:58.0	You get hired by me the first 90 days is an investment of mine to you.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from David Meltzer, Entrepreneur.com, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of David Meltzer, Entrepreneur.com and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.