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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

Heyo!

0:10.0

Welcome to the 100 R. M. B. Show making building your business a whole lot easier with our practical business lessons.

0:17.0

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

0:20.0

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

0:25.0

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

0:30.0

Today's question is from Gary and Gary asks,

0:33.0

Omar, I've been a solopreneur for about two years

0:36.0

and I feel stuck.

0:38.0

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

0:42.0

But how do I hire a team with no money? I'm making just

0:46.3

enough to pay myself and cover my business expenses. I am sort of stuck in

0:50.6

self-employment. Would love your help?

0:53.0

Gary, thanks for the question, Gary.

0:55.0

Hiring a team without money might sound like an insurmountable challenge,

0:59.0

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

1:05.0

In this episode, I will share with you a detailed strategy that leverages creativity, equity, and the power of your vision to build a team even when you can't offer

1:15.6

traditional salaries.

1:16.8

I'm not sharing with you theories here, I'm sharing with you what I actually have done,

1:21.6

what has worked for me in hopes that you take it on and it works for you.

1:24.9

So let's get into it. Let's get down to business. I want to start by saying something that

1:29.9

maybe you are not fully aware of or not fully convinced of and that's people are

1:35.3

driven by more than just money. I know that money is important. People need to make money

...

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