Delegate the Task You Love Most First | Mike Michalowicz

Connect With Chaz Mike Michalowicz built and sold tech companies, including one to a Fortune 500 company, then lost everything out of what he calls arrogance and ignorance. He started writing down why he was failing, tested what worked in his own businesses and with other owners, and turned it into Profit First and All In. Mike found that only 17 percent of people will ever own a business, and only about 20 percent of those are still sustainable after five years. That is about 3 percent of the population. He learned from a Container Store co-founder that paying one A player $15 an hour beats paying three B players $10 an hour each. In this conversation with Chaz Wolfe, Mike shows you how to hire, delegate and lead so your team takes ownership of the outcome with you. KEY TAKEAWAYS Create jobs instead of doing the work. Mike says the owner's job is to be a creator of jobs. Most people want a good job at a good company, and only about 3 percent of people run a healthy, sustainable business. Match talent to tasks, not titles. Break every title into tasks. A receptionist who is weak at greeting walk-ins may be your best number cruncher. Delegate the task you enjoy most first. Write down everything you do, then hand off the easiest task you love. Mike started with his own scheduling, and now his wife books date night through his scheduler. Hire through workshops, not only interviews. Sports, an industry Mike puts at over $500 billion, recruits through camps instead of interviews. Home Depot runs bird house workshops and invites the most eager people to apply. Watch for thirst. Mike says potential shows up in three stages: curiosity, desire and thirst. Hire the people who reach thirst, where the work becomes part of who they are. Build community before culture. Mike's team rewrote one of his values into "be the Ted Lasso of companies." Let your values come from the whole team, not from the leader alone. If you are a contractor business owner and you want to make more money, work less, and win at home, we built something for you. Get the free Owner Time Audit at gatheringthekings.com/timeaudit. It is a simple worksheet that shows you where your week really goes. We email it to you as a PDF within minutes. Connect with Chaz Wolfe (Host): Website Facebook Instagram LinkedIn YouTube Connect With Mike Michalowicz: Website: https://mikemotorbike.com/ LinkedIn: https://www.linkedin.com/in/mikemichalowicz/ Instagram: https://www.instagram.com/mikemichalowicz/ YouTube: https://www.youtube.com/user/MikeMichalowicz Facebook: https://www.facebook.com/MikeMichalowiczFanPage/ Support the show Like what you heard? Share this episode with a friend and leave us a review on Apple Podcasts or Spotify! Join the conversation by visiting GatheringTheKings.com and apply to connect with other high-performing entrepreneurs and their families.