Everyone wants to contribute to something big, and it’s not always clear how to… Or what the motivation is, what piece of the puzzle did they want to put in, but if you just invest a little bit of time and a little bit of energy trying to understand people, they will tell you, and then you’re like, who you are… The edge piece, it’s mostly blue, but there’s the little weird white spot over there, the estate will be a best God edge piece. It’s mostly a little bit a white spot you’ve ever had, and you won’t have to motivate them to work hard, just pay them what their work, treat them like a really good human and they’ll just stay… Keep crushing a flow, you just figuring out how to allow people to serve their purpose.
Welcome back to The prospecting show. We’re here late at night. A little bit later on, East Coast, her 7-18 on February 20th with my man, Mike Loyd.
How are you?
I am fantastic. How you doing?
So I delay a framework here, a little foundation for the listeners, what do you do? Tell us about you. I help leaders get the most out of their teams, basically figuring out how do we get the right people to do what they wanna do, things they’re best at, and create productivity and a place where people wanna show up and actually crush it.
And that’s absolutely the perfect example of what you do, from my understanding, so let’s roll it back a little bit for a second here, and let’s talk about where a company is before they get to you, so tell us about that kind of avatar, that kind of customer or that client base, where are they… Before they start reaching out to somebody like you to… Totally. So in my experience is somebody has been other fine a podcast or read a book or something, and they’re like, Okay, this is a tactic. I feel like it could solve this thing that’s happening in my business, maybe our sales numbers are slipping, or I am having the hardest time getting that other department to just fill out the forms that we need them to fill out, there’s some sort of people issue in the business, and it’s frustrating and they don’t know what to do about it, and so that’s when they give me a call, and for the people that come to you and say, Hey, we have this particular problem, are they usually correct and diagnosing the problem they have, or do they usually not even know what their problem is, it’s like when you take your car in and you’re like, It’s making this weird noise and people make all these crazy sound effects, that’s what the phone call is like, they’re giving me the symptoms and the problem is elusive, or it’s like, Well, I went on webmd and it says that This is what’s up with my staff, it’s like, Well, they don’t all have cancer, so let’s backtrack a little bit and figure out what’s actually going on. And what do you see as the most common issue that business have… No, there’s big mine, small businesses, a lot of people, just a few people, but there’s gotta be some common trends that you see with the type of consulting and overhaul, and you do… It’s all the same thing. It’s like people ask, what in industry do I work in? Like the one of people… And I know that’s the worst thing you can do to position yourself in a business, but it is all people and it’s the same problem, so one of the huge things with communication is speculation, so you’re like, Well, these people aren’t getting back to me, they’re not answering my emails, they’re not filling out the forms, they’re not holding up their end of in this arrangement so that we can serve our client, or it’s like that person keeps stepping in and trying to do my job, I wish they would just trust me and assuming what the other people are thinking and justifying their reactions based on your own speculation, and 999% of the time, it has nothing to do with the actual reason that that person is doing those things, and do you think that that is usually a single person problem or is an organizational problem, is it a team problem management problem? Where do you see that come from? ’cause most organizations start breaking down at a failure point, and where do you see that failure point end up being in a… A lot of it starts from the top, and that could be whenever the company was founded, and when a new leadership team takes over in the kind of culture that they create, so when you create an environment where people can openly communicate and sit down and be like Hey, I’ve noticed that you guys are doing X and I really need you to do why? So we can achieve this end result together, how can I change what we’re doing, or let’s start brainstorming some ideas here, so that we can both come out ahead and then ultimately serve the client, which is the main goal, and not having that sort of framework of that open line of communication and making it part of the culture where it’s not wrong to be like, Hey, I’ve noticed that you’ve been making some mistakes on this thing, is it the software, is it confusing to use? Were you not trained enough? Do we have crappy wi-fi here and it just takes so long to do what you’d rather… Write it on paper instead.
What’s the situation? How can we fix it? Rather than blaming or accusing.
Yeah, and that’s probably the easiest way to look at it is you gotta go and diagnose, you gotta ask the people who are involved, what do you find where the winds… Where the losses were, how can we change the opportunity… What do you think could be improved? And if you go back into the organization and talk to more than just one person who thinks there’s a problem, usually you can start forget out where it all trails back to… Right, totally, totally. And a lot of it comes from the history, that person’s history with the company, so is this leadership team someone who comes out with some new ground-breaking initiative every six weeks, and then within two weeks, they’ve already forgot about it, so now you just don’t really waste your time getting on board, if anything that somebody else says, ’cause why would it be any different this time, and you start to just get complacent or dismissive, and its practices like that that you don’t realize are psychologically changing the culture and your employees and it’s not like a quick fix, you can’t just suddenly start following through with your stuff or whatever the breakdown maybe, but at least recognizing what the real issues are, so that you can address them and be honest and open and be like, You know what? I got the feedback and I realized how big a mistake I’ve been making, and I wanna take ownership and I wanna fix this so all of us can win and all of us can enjoy our time here, and that’s common vision, that’s a common thread going forward and trying to figure out how… We’re gonna move the business in the right direction.
So we have this thing in a few of our different companies here, it’s a stack of things that are important to us, not on all right for them off. Here we go through Elimination prioritization automation delegation. Alright, that’s this order in which we solve all of our problems, which one of the Rides, Again, elimination prioritization, automation and then delegation, which one of those do you think is the most important for people to Polson, especially when they’re a lean start-up, maybe under 20 employees under 5 million in just getting going and trying to figure out where to go, it is a…
I think that list should be gone through in order for anything, but definitely elimination.
Especially if you’ve read the book, Good to Great. Collins talks about that a lot. It’s like, just get simple. And one of the points that he makes in that book, which I really, really love, it’s like Figure out what… Not what do you want to be the best at?
But what do you have the ability to be the best at? And that’s from an individual, a team, at a company level, and then just focus on that, and when you start trying to do everything, you can’t do any of the things well and uh… And then you fail.
And that’s true because a lot of people start going through the process, one of the biggest things that I see when we go in on the prospecting side as everybody is always like, How can we automate… Automate, automate every process in the business.
Well, if you start on step three, which for us is automation and you haven’t prioritized and you haven’t eliminated… Well, what if you could just eliminate the step that you’re now trying to automate, right, you’re running credit cards every single month for people, or maybe you’re doing invoicing every single month for you, but what if you just set that to auto right? Now you’ve eliminated the step instead of working so much about How can I automate this or e-checking your email, right? Instead of having your email come all the time just to have it manually push and push vice a day once or vice predate are so focused on like, How do I automate? automate, automate on really just writes to eliminate the 80% of the stuff that produces the 20% of the result… That be way more efficient.
Yeah, especially Marketing is… Every company wants to have a podcast and a YouTube channel, and Instagram and to talk and Snapchat and Facebook and billboards and everything else. And I was like, Well, where are your clients?
Right, I… Well, they’re generally on LinkedIn like, cool. Well, that wasn’t even on the list you gave me, so what… Let’s scrub that a whole list and let’s focus on LinkedIn, and one of the best… And now…
Oh man, I wish I could remember who said this, but it was like, if you wanna get a really good sandwich, you can dig through a lot of trash cans hoping it someone through away a good sandwich, or you can just go to a deli and get a sandwich, so go to where the customers are instead of trying to spread yourself then everywhere or whatever the context may be, selling things… It doesn’t matter. Just focus on the things that move the needle. With the biggest impact.
Right, and what are your thoughts on on the misuse of tools, so let me qualify that a little bit because maybe that’s kind of a big question, but for the people that end up listening to this, biggest problem that I see on a technology side is people misusing tools, number one example is using email as a direct message tool within your company, right?
Email is not designed to fire 50 emails internally in CC a bunch of people on it, right. There’s other tools for that, right, there’s Trello boards for doing workflow, there’s internal CRMS with messengers, they’re Slack, there’s all these other tools that instead of looking at how can we just eliminate that process by… We just use the right tool for the right job it… If you’re tying to put a screw and use a screwdriver out of hand… Totally, and I think that really ties into our previous point is elimination, do we need to include all of these people on these communication, or could we set up a team, a series of structured meetings throughout a week and our month where everyone can meet on these things have a check-in first thing in the morning, and if all of us know what we’re working on throughout the day, maybe we don’t have to keep emailing asking each other what projects are you working on, what is… Or a grass, where are you in this thing when we all get about a five-minute huddle to start the day and figure out, cool, I’ll have this to you by lunch and you’re gonna do this thing by the end of the day, and you need till next week, ’cause this thing came up, it’s cool while we wrapped up early, so I got a guy that can go help you, and that just saved tons of emails or walking around, and those emails, like you pointed out, they’re distractions, so the day goes off on your computer you see the notification on your phone that takes you away from whatever it is you’re doing, so it’s just… It compounds so total, it’s totally her changing all the time rates first of 1st, 5th, over and over and over again. You would never do that in a car, you blow a transmission, but in your mind, you do that, right, ’cause you go in deep thought work for 20 minutes, and then like you said, Dang, text message goes off, ding emails goes on. First of all, the text messages from something that’s totally I’m related to work that you don’t need, and then the email some list that you’re subscribed to that you have notifications on for, you’ve been attracted twice within a five-minute window about two things that don’t help you that just wasted your time.
Yeah, right, absolutely. Eliminate, get rid of it. It’s on, you don’t have… You know what I mean?
And that’s in that I think really important for people to actually audit and audit their time and audit what they do every single day. I always recommend people to go to rescue Time dot com and download the little rescue time app and just kinda low. It just sits in the background on the computer and it tracks all the different tasks that you do, and then you can categorize them later, but it basically looks at how efficient were you… Did you spend all your time in your calendar, did you spend all your time in your email… Did you do it all on Facebook, where did you spend your times… You can get a real audit instead of just mentally thinking about what you do… Absolutely, there’s one cell phones also, which is a huge thing, I got one a couple of years ago, and just saw how much time I spent on Facebook and Instagram, and this was marketing stuff, but it was still a tremendous amount of time on there, and I’m like… The time I’m investing, is that even worth the return that I’m getting… Oh yeah, and we actually have this funny unspoken rule that I try and tell some of our clients about, and you probably have some kind of offshoot of this, but what we call the 500 rule. And the 500 rule has two pieces to it. The very first thing is everybody audit your time as if it’s worth 500. now, the question is, Is this 15 minutes that you’re about to waste on Facebook worth 125 an hour, would you pay that right now to spend 15 minutes on Facebook?
If the answer is yes, so I… If the answer is no, don’t do it. Right, that’s the first part of the 5000 Role.
The second part of the 500 rule is discretionary funds. One of the biggest ways that companies waste time and money is by having an organizational structure that requires approval at every step, what we do in our company is we have a 500 discretionary income for every single person, contractor and employee in the company, every month.
And the way it works is they have the credit card, they can spend the 500 on whatever they want to optimize the business or make the business better without approval, without checking with anyone, and at the end of each 30-day cycle will check it to see if it worked.
Yeah, on a empower decision-making, it’s like one of the most pastored buzz words I think of the last 10 years, and it’s the most miss, just because you tell someone they’re empowered and they can make decisions, it means nothing if they still have to ask you before they can act on that decision, so… Yeah, that’s amazing. Obviously, you set parameters. I love the 500 limit there, no company cars for folks, just ’cause they go to a sales meeting and look cool, right.
But right, so I’m trying to allow them to get focused too, right, because now they’re thinking like… Well, wait a second, I now have the power to make a decision on something. So one, they’re empowered, and then the second part of that is you look at what you’ve given them and you basically just give them access to be problem-solvers.
Yeah, and if a client calls them and they’re like, Hey, this part wasn’t delivered and I need the thing, you’re like, Cool, Well, send an Uber driver to pick it up from the warehouse and drive it four miles to my client’s office or task rabbit or something like I’ve got the money and I can make a client happy today and I don’t have to get approval to spend this expense, which isn’t an expense, ’cause it’s gonna buy you future purchases with this client… It’s a no-brainer. Yeah, see, and that’s actually our… For a really good point there. You kinda threw it in there subtly, but… And I don’t know who said this quote originally, but they said, If spending money makes you money, you didn’t actually spend it… Yeah, it’s a throat. It expense, it’s right, it’s… You’re basically saying like, Listen, it didn’t actually cost you any money if it made you money, and that’s the easiest way, people don’t think about that, like they say, Oh, I just spent 100 yet, but you just made 500 if I gave you… If I came every single day and say, Give me 100 and I’ll give you 500, you would do that every single day of the week, ’cause it just makes… There’s just no-brainer there. That’s a one-to-one. Yeah, I would just have it sent to your account every day, so I might… That a acting, that’s why I’m saying you, you could do that logically yourself and everybody would do that, there’s no person this plant that would not do that, and I… The reason people don’t trust in that process with commerce or just standard business is because that exchange isn’t always so clear, right.
Really sticky people are paying other have more money or more time or both, that’s really what people are trying to buy over time, they are, they wanna multiply the capital they have, or they wanna get back time, which is the craziest concept for me because people will spend their whole lives, giving away their time to make money to go buy back time, which is why the deferred life plan for our work week stuff from TEM Paris talks about, Why are you waiting until 65 to take a trip? It makes no sense.
Do it now because you don’t have a work-life balance. isn’t about balancing the two? It’s about doing both.
Yeah, if you get injured or die or anything happens before you hit that period or like, I don’t know, you can’t walk to go enjoy any of the things that you’ve saved up, all of this energy and expectation for that, it’s all for not… And I also don’t… I can’t even imagine sitting down every day be like, Well, I’m gonna just plows for the next eight hours, ’cause that’s what I have to do to be happy some day in the future, I… That short amount of time with potential happiness at the expense of guaranteed unhappiness now… That’s madness.
Well, and that’s when you come back to the consulting work that you do, you must see a bunch of crazy stuff that people go through and they’re working super hard to get a business going, but then they never take any time to enjoy it… Right, they probably are just grind, grind, grind, grind, grind, and then they come out 15 years later and realize how I shot… I missed a lot of things.
Right, and I’m sure you’ve seen a bunch of this too, it’s like there’s something to brag about the whole grinding… The old school, Gary V, I think before people really understood what his values were, before he really vocalized them, but working 16 hour days and not sleeping, not seeing your friends, not doing anything except work.
And when you look at that 16-hour day, how much of that was really productive, you probably could have shaved half of that out of there and then had a spa day after you did something, and no one would have ever noticed.
Oh, that’s absolutely true. And you can go through this elimination process, like I did this myself this week, I just spent four days in Denver at a work trip, so we worked over the weekend and all that, but I came through Monday… Did at dinner on Monday, and I never do dinners for a business reason, but I did a dinner for four hours at a beautiful tie in place. Right, and then I took all of Tuesday off.
And tomorrow, I’m taking all of Friday off.
I haven’t taken those two days off ever, ’cause I’m so afraid that… What’s gonna happen, right?
Nothing happened Monday night, and nothing happened Tuesday, probably nothing’s gonna happen tomorrow, you know what I mean? But you’re so paralyzed by fear of like, Oh well, if I don’t work 16 hours today, it’s gonna be a problem now if you do nothing for a month… Yeah, some stuff’s gonna probably happen in your business, but in my opinion, the best thing you could do is try to eliminate… Try to extract yourself from your business once a while and see what happens for out, is this a business or is this just you wrapped around a business because if you can’t leave it… It’s not really a business.
You’ve created a job for yourself. You’re not an entrepreneur, and that was one of the hardest things for me to wrap my mind around, I wanted to be an entrepreneur so bad, and then all the things that I was with as a professional photographer for 10 years, which is what led to this consulting color, I guess in an adventure, ’cause I’m having a hell of a time doing it… A great time. Let me rephrase that. I could not make money if I wasn’t in the room, and I’m like, Wow, this is not what I wanted to build for myself, and my mentor helped me see all those things, which I’m a coach, and I have coaches and mentors, you can never outgrow that and it just, I realized that I was working really, really hard for something that wasn’t going to satisfy the goal I set out to achieve, and that’s why I shut down my business of 10 years, I started over, and I could also argue that a consultant… I have to be working to make money, but I can grow a firm, I can work remotely, which is a huge thing, I can’t photograph remotely, but I can consult remotely, and that’s big for me, so I can take him up to… In the summer and go to France. I did for eight years before I got into a photography like I did, and I don’t have to stop, that’s a big… And that’s the beauty, right? Is it… There’s only three currencies in the world, right? There’s time freedom, location freedom and money freedom, those are the three big things, and you just talked about going to France for a month, there’s your location, freedom and time freedom it… You work when you want, you’re not in the same time zones as you’re used to it, you’ve totally changed a variety of things, but the best part is that you’ve eliminated yourself from the business and the way that you don’t have to be there, and what your consulting it’s high ticket in the sense that the value you’re providing in the dollars you’re being paid for your professional service, you’re getting paid as a professional, so you can work 25-30 hours a week is at a 70 because you’re getting paid for value, not for time, poor people get paid for time, and that’s not negative towards people as a whole, but if you’re selling your time, you’re never gonna get ahead, it’s a mindset is exactly… A is a long time to get it.
Yeah, I felt really uncomfortable charging what I charge now, I couldn’t even imagine a five-figure day that Blum a month would have been just amazing, but a day unimaginable, and now it’s like, Well, yeah, I’m gonna meet with you for this day and I’m gonna save you like 50 grand this year. So the 10 grand you gave me… Again, trading 10 grand for 50, I’ll do that everyday of the week.
That’s exactly it. So to kind of narrow this in and wrap this up, cause it’s a super killer session we did here, what is the biggest takeaway that you have had from consulting those businesses and then… How can people reach you? Email, phone number, website, whatever. Did you wanna throw out there?
Totally, because take away, everyone wants to contribute to something big, and it’s not always clear to an how… It’s not always clear how to or what the motivation is, what piece of the puzzle do they want to put in, but if you just invest a little bit of time and a little bit of energy trying to understand people, they will tell you, and then you’re like, Cool, you are the edge piece, it’s mostly blue, but there’s that little weird white spot over there, and they will be the best goddamn edge piece, that’s mostly belt a little bit white spot you’ve ever had and you won’t have to motivate them to work hard, just pay them what they’re worth, treat them like a really good human and they’ll just stay and keep crushing it for you, it’s just figuring out how to allow people to serve their purpose.
I think that’s my biggest a-ha-ha.
That’s really a big one. So throw down some links or some numbers or something, so people can reach you, but what’s the best ways at LinkedIn, Instagram, Facebook, carrier, pigeon email? What are you got?
Yeah, I usually say You can shine a big too light in the sky like that man, but to… And I will running as a man. Yeah, myeloid, coaching dot com is my website. You can apply to work with me there, find me on LinkedIn, Mike Loyd 2 D, the guy, the painted nails and the top hat. I look like I might play in a band with Trent Reznor, but I will come in and help you turn your business around.
That’s awesome. Well, thank you so much for coming on the prospecting show and sharing some of your vision and how you’re helping other businesses.
I’m looking forward to what the listeners have to say, everyone who’s been great feedback at the end of every episode, so I look forward to sharing that with you and thank you for taking half hour out of your day.
Thanks for having me.
To Listen to this episode, please visit:
To listen to the previous episode 43 – Recovering your AR with Jeff Dorsey, please click here;
To listen to the next episode 45 – Why You Need To Know Where Your Hemp Comes From with Brandon Lewis, please click here;