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The $100 MBA Show

MBA2465 Q&A Wednesday: How do I hire a team with no money? I'm stuck in self-employment.

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.91.2K Ratings

🗓️ 8 May 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

Are you an entrepreneur grappling with how to grow your business without the financial means to hire a team? Is the dilemma of needing to expand but lacking the resources holding you back from transitioning from solopreneurship to a thriving business with a supportive team? If these challenges sound familiar, get ready to uncover some game-changing strategies that could reshape your approach to scaling your operations.

Transcript

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0:00.0

Hey-oh, welcome to the $100 MBA show, making building your business a whole lot easier with our practical business lessons.

0:17.3

I'm your host, your coach, your teacher, Omar Zenholm.

0:20.3

And today's episode is Q&A Wednesday where I answer a question from one of you, one of our listeners.

0:24.9

If you got a question you want to ask, go ahead and email me over at omar at 100mBA.net.

0:30.5

Today's question is from Gary, and Gary asks, Omar, I've been a solopreneur for about two years and I feel stuck.

0:37.9

I can't make more revenue without making more hires.

0:42.3

But how do I hire a team with no money?

0:45.5

I'm making just enough to pay myself and cover my business expenses.

0:49.4

I am sort of stuck in self-employment.

0:51.9

Would love your help, Gary.

0:53.7

Thanks for the question, Gary.

0:55.1

Hiring a team without money might sound like an insurmountable challenge, but it's a

0:59.9

situation that many entrepreneurs, including myself, have faced and overcome.

1:05.3

In this episode, I will share with you a detailed strategy that leverages creativity,

1:13.5

equity, and the power of your vision. build a team even when you can't offer traditional salaries. I'm not sharing with you theories here.

1:18.6

I'm sharing with you what I actually have done, what has worked for me in hopes that you take it on

1:24.2

and it works for you. So let's get into it. Let's get down to business.

1:33.7

I want to start by saying something that maybe you are not fully aware of or not fully convinced of. And that's people are driven by more than just money. I know that money is important.

1:39.3

People need to make money so they can eat and sleep and pay rent and all that kind of stuff.

1:43.3

So that is important.

1:44.9

But it's not the only thing that's important. It's just one of the reasons why somebody will

1:49.9

work for somebody. Just like if you're buying a car for you, maybe the way the car looks is the most

...

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