From the Interwebs

  • Mike Peters

  • January 24th, 2020

11 things that waste your time and slow your success, according to Mark Cuban, Tony Hawk, and 9 other business leaders

The biggest time wasters in my career revolve around People and Process. If I knew then, what I know now, I could have saved a lot of time and money.

Let’s start with People. People are the single most important asset of every business. A business is simply a group of people, working together towards a common goal. It took me a while to understand the importance of hiring “A players”, providing them with everything they need to be successful, making sure they play well with others and then getting out of their way.

I wasted time settling for “B” and “C players” in an effort to save money. I wasted time not knowing how to delegate. And I wasted time not providing people with the resources they needed to be successful. I was setting them up for failure.

My advice is to never compromise when it comes to hiring. Your people will make or break your business. It is literally that simple.

Next biggest time waster was Process. Starting out, I spent a lot of time “winging it”, improvising and solving the same problem over and over again.

I learned the importance of making every single task relentlessly repeatable, using checklists and “How to” training guides for everything. The goal is to be able to take a brand new person, who has zero knowledge about our business and have them immediately become productive by following checklists and standard operating procedures.

Nowadays, we build every business as if it’s going to be a global franchise from day one. Take the time to create a comprehensive process, covering every aspect of the business. You’ll save time, save money and make it a lot easier to grow and sell the business.

Read excerpt on BusinessInsider.com »
  • Mike Peters

  • January 10th, 2020

11 words that shaped the careers of entrepreneur Tony Hawk and 10 other self-made millionaires

Give.

When we got started in business, we couldn't compete on much. Our competitors offered more services, better pricing and a better track-record. But these competitors never cared like we did.

This was the first time we learned that if you give everything, with zero expectations, the universe has a great way of making things work in your favor. We gave my customers instant response times, solutions to any problem – including those that had nothing to do with what I got paid for, long hours, blood sweat and tears. It didn’t happen over-night. It took a few long years. But we earned respect and customers for life.

Later on, as our business continued to grow, we learned that if you give to your people more than they expect, because you really care about them and not as a trick, you are rewarded with passionate, engaged and committed individuals, who will give more to your customers than any competitor ever will.

The same principle holds true in every relationship.

Whether we're dealing with a business partner, long-time acquaintance or a new person we just got introduced to, we always focus on giving a lot of value up-front. We never ask "what’s in it for us.

Instead, we use the time we're engaging to try and make a real impact in that person's life. We're only human. We all go through hardships and struggles. If we can share feedback, insight, advice or connections to help someone get over a hurdle, its not just the right thing to do, its ultimately good for business too.

Read excerpt on MSN.com »