Stick Like Glue Radio #174 On this special episode of Stick Like Glue Radio, I interview serial entrepreneur and best-selling author Erland Bakke. Erland is the founder of Mr. Outsource and shares his entrepreneurial journey as well as many nuggets for those thinking about outsourcing. Don’t miss this powerful show.
Stick Like Glue Radio www.getjimpalmer.com
On this special episode of Stick Like Glue Radio, I interview serial entrepreneur and best-selling author Erland Bakke. Erland is the founder of Mr. Outsource and shares his entrepreneurial journey, as well as many nuggets for those thinking about outsourcing. Don’t miss this powerful show.
Main Questions Asked:
- What was the first company you started?
- Did you bypass sites like Elance and go direct?
- How did you go about assembling your dream team?
- How do you define a freedom lifestyle?
Key Lessons Learned:
Problem Solving Entrepreneurs
- Entrepreneurship starts when you have an inner desire to build something.
- If you have a problem in your business, it is likely that others also have the same problem. If you solve it, you can add value to others and also profit from it.
Building a Team
- Building a team is the most important thing an entrepreneur does and what separates A-list companies from B-list companies.
- Steve Jobs only hired ‘A’ players because they only hang out with other ‘A’ players.
- Hiring someone on the other side of the world is around 1/20 the price of hiring someone in the west.
- Regulations that western countries have in place make it difficult for business owners to employ people at a fair rate.
The Dream Team
- When Erland starts working with someone, he is always thinking long-term.
- When hiring, ask yourself if you like the person, trust them, and can you work with them for many years to come?
- It is important to continually educate them so they don't have to ask next time. The ‘why’ is more important than the ‘what.’
- The staff must want to grow with the business, have more challenges and responsibility within the organization. This is how loyalty is built.
- Uses a hybrid method and offers a lot of training and personal development.
- Mr. Outsource offers a co-working space and suggests that clients pay for their VA to work in the co-working space.
- A lifestyle business is being able to have and run a business from anywhere in the world.
- Freedom has 5 different levels:
1. Political: Ability to say what you want without getting prosecuted.
2. Social: Freedom to be the person you want to be.
3. Financial: You rule your money, and your money doesn’t rule you.
4. Mind: Freedom to know your programming comes from your parents, the media, the school system, and friends.
5. Oneness: Connecting on a deeper level with all things in the world.
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