The #1 most important business building strategy

This is a lesson which took me many years to figure out - my advice to you is to learn it early on... What's your biggest challenge with building your business? Send me a private message [here](73066/ct0_0/1?sid=TV2%3ATUuFxeTyW), [MOBE DAILY](73066/ct1_0/1?sid=TV2%3ATUuFxeTyW) [] [START YOUR BUSINESS](73066/ct2_0/1?sid=TV2%3ATUuFxeTyW) [] [SCALE YOUR BUSINESS](73066/ct3_0/1?sid=TV2%3ATUuFxeTyW) [] [GROW YOUR WEALTH](73066/ct4_0/1?sid=TV2%3ATUuFxeTyW) [] “Human Resources isn’t a thing we do. It’s the thing that runs our business.” – Steve Wynn, Wynn Las Vegas Bula from Fiji. Still here for a couple of days - just got off the island and am now back on the mainland for meetings with lawyers, bankers, and the seller of the island to finalize the deal. Today I want to talk to you about finding the people to help you grow your business. More specifically, finding the right people. After doing well in excess of $150m in sales over these past 5 years, I can tell you the single most important ingredient has been getting the right people on board. If you can get the right people in your 'rowing boat,' then have them all row in the same direction, in time with one another, then magic can happen. But it's easier said than done. Learning how to hire the right people is a skill that takes years to develop - and even experienced hirers still get it wrong. Just the other week I had to fire a senior manager in my finance division, who I'd paid a LOT of money to a recruiting agency to find (about 20% of his annual salary). Why did I fire him? Well it turns out his degree was a fake. Our HR team called his university back in the UK he'd supposedly got his MBA from several decades ago. They had a record of him starting his degree, but never finishing it. I wasn't too bothered with it; it's better we found out in his first few months here, than keeping him on board for years if he's a liar. When you hire the wrong person and then discover you've got the wrong person, the worst thing you can do is keep them on board. Instead, you should immediately start looking for their replacement, and get them out. Otherwise too many of the wrong people will rot your company from the inside out. The cost of a mishire can be multiple 6 figures. Even more. Without thinking too hard about it, I can name several people who easily $500k in lost time, opportunities, and mistakes. On the flipside, there are people who I've hired who made the success of MOBE possible. Without them, we'd not be 1/10th the size we are today. Some of my best hires have been largely responsible for millions of dollars in additional revenue. My advice to you for finding the right people: Over-interview, and be overly-selective. Be fussy. You may think you're saving time by hiring the first person who gives a decent interview (especially when there's a gaping hole to fill with urgency), but you're not. I don't care how good of an interviewer you are, or how good you think you can 'read people' - one meeting is not enough to really get to know someone. Instead, for key roles you should do a minimum of 3 interviews. You should have other people you trust on your team interview them as well, without sharing notes till all interviews are done - so you can get their unbiased perspective. One successful company I know of actually take out their candidates shopping. They go grocery shopping with them (in addition to all the interviews) to just see how they are with people, to observe how they are in a non-business environment, and to get to know them while their guard is down. I recommend you do something similar. You could even just take them out to dinner. Believe me, its better to pay $50 for a meal, then hire the wrong person who'll end up costing you potentially 100x that. Once you learn how to hire the right people, the next skill is how to manage them and keep everyone working together. A former mentor of mine used to say, "running a business is like running a daycare center. The only difference between a small business and a massive company, is the size of the daycare center." So true. That's not meant in a condescending way towards my staff of course. It just means that when you're dealing with large groups people inside your business, everyone has their own issues, emotions, personalities - and there's going to be clashes. Final piece of advice: As Ronald Regan said, "Trust, but cut the cards." In other words, even the most honest, well intentioned people can do the wrong thing inside your business. My own rule in business is to never trust anyone fully. There's people I've worked with on a daily basis for over 5 years. I know them extremely well. And they know me extremely well. But I still check the details often, to make sure no ones taking short-cuts and doing the wrong thing. It's a good idea for you to do the same. Let's get into today's issue... [] [MOBE Daily#7-1](73066/ct5_0/1?sid=TV2%3ATUuFxeTyW) [] Change Your Life With Consistent Action These days, I can proudly say that I built a company that has done over $150 million in sales. But I can still recall the day I had a meager $1.50 on my debit card – not even enough to pay for an iced coffee! What I hope will inspire you is that those humble beginnings were only 8 years ago! Watch [this video](73066/ct5_1/1?sid=TV2%3ATUuFxeTyW) and read the article, in which I reveal my secret to making such astronomical progress in 8 short years. [] [] [MOBE Daily](73066/ct6_0/1?sid=TV2%3ATUuFxeTyW) [] Why You Should Measure Your Results Every Day You've launched your business and you've already made your first sales. Now is not the time to get complacent! If you think the hard work is done and it's time to take a break, think again. In business, if you're remaining stagnant and not constantly growing, your business is actually declining. What can you do about it? The first step towards growth is to start constantly measuring. If you want to know how I track my results every day, I will show you in [this video.](73066/ct6_1/1?sid=TV2%3ATUuFxeTyW) [] [] [MOBE Daily](73066/ct7_0/1?sid=TV2%3ATUuFxeTyW) [] The Power of Compound Interest Here's a question for you. If I gave you a choice between receiving $1,000,000 today, or receiving a penny today, two pennies tomorrow, four pennies the next day, and so on for the next 30 days... ...which option would you take? Before you let me know your answer, listen as I explain the exponential power of compound interest by watching [this video](73066/ct7_1/1?sid=TV2%3ATUuFxeTyW). [] [] It's Reward Time... [] [MOBE Motors](73066/ct8_0/1?sid=TV2%3ATUuFxeTyW) [] How You Can Get The Vehicle Of Your Dreams...Without Having to Pay For It! [CLICK HERE](73066/ct8_1/1?sid=TV2%3ATUuFxeTyW) TO LEARN MORE [] Talk soon! Matt Lloyd [] [Matt Lloyd](73066/ct9_0/1?sid=TV2%3ATUuFxeTyW) [] [] [Matt Lloyd] [] [FREE BUSINESS TRAINING](73066/ct10_0/1?sid=TV2%3ATUuFxeTyW) [] [ASK MATT LLOYD](73066/ct11_0/1?sid=TV2%3ATUuFxeTyW) [] [SUCCESS STORIES](73066/ct12_0/1?sid=TV2%3ATUuFxeTyW) [] [] [] SHARE THIS CONTENT... [] [] [Facebook](73066/ct13_0/1?sid=TV2%3ATUuFxeTyW) [Twitter](73066/ct14_0/1?sid=TV2%3ATUuFxeTyW) [LinkedIn](73066/ct15_0/1?sid=TV2%3ATUuFxeTyW) [Forward to Friend](73066/ct16_0/1?sid=TV2%3ATUuFxeTyW) [] LET'S CONNECT! We are all busy but hopefully we can connect on the platform that’s most convenient for you. 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