What You’ll Learn From This Episode:
- How to reach your fullest potential in your business
- Think about delegation, marketing, and sales
- Managing your business growth
Related Links and Resources:
I ended up writing a full guide where it leads you not only on the conceptional part and the strategy behind it, it also gives you step by step on how to actually do it. And literally start by taking the next few days and write down everything you do and then start figuring out what are the things that you're going to be delegating. And we also share the 5 steps of the proper delegation. The way to get it is our main website, it's www.ptexgroup.com/delegation
Meny Hoffman is the CEO of Ptex Group, an award-winning branding, and marketing agency headquartered in Brooklyn, NY. A lifelong entrepreneur passionate about creating winning strategies that help growing businesses flourish, Meny has been successfully helping brands grow and thrive since 2001. He is the founder of the Let’s Talk Business (LTB) platform, a movement to provide entrepreneurs with powerful tools needed to learn, grow and lead. Meny is a popular speaker who shares his strategies at regional corporations and conferences. He is a proud husband and a lucky father of eight.
Here are the highlights of this episode:
1:30 Meny’s ideal Client: Our ideal client is we help growing businesses flourish. Which means you have a proof of concept, you are committed to what you're doing but you're looking to go to the next level. We're there to support you.
1:57 Problem Meny helps solve: We're looking at clients that have a power and also have a product that they want to bring in the market or it's already in the market but they're not maximizing the potential. They're coming to us and maybe they need to clarify their communication, their messaging, and ultimately their branding and marketing. And they're looking to get that out so that they can help more people and make the world a better place.
2:38 Typical symptoms that clients do before reaching out to Meny: There're so many good people out there with great products and services, but they're not reaching their fullest potential. And the goal is, you got to at one point reach out to people that have done it and have worked with other companies to figure out "what is my next step if I really want to move the needle forward?" either internally in my company or externally in the marketing, branding, so on and so forth. You reach out; because when you reach out, sometimes you get some thinking out of the box and you want to get their perspective. Because sometimes you can be so in it, and working in it versus working on it.
3:43 What are some of the common mistakes that folks make before finding Meny and his solution: First of all, you got to know that you could stay a solo entrepreneur, which means is that you have limitations not only in time which is the most important thing that we have which were limited, but more importantly in skills. And when you're not surrounding yourself with other people that could actually help you and support you in what you need to do, then you're missing out. So, think about delegation, think about marketing, think about sales. You might be the best inventor but if you don't have sales skills and you don't have sales personnel that will help you out, it's not going anywhere. And this you could apply what I've just said to every part of your business. It could be in finance; you could have the greatest product in building the greatest company but if nobody in the company is really focused on financing, margins, and so on and so forth, you might find out that it's a great hobby if you're not making money.
4:57 Meny’s Valuable Free Action (VFA): When speaking about delegation, just continuing on this topic, I've coached hundreds of CEO's or C-level executives within companies, within different programs, and the likes of business, or leader's forums and conferences. And the number 1 issue of CEO's and leaders is letting go, delegating. And the reason if I would just ask a bunch of people the reason, most of the time is because they'll have a 'horror' story, how they did it and failed. And they're afraid of letting go or losing control. For that, there is an 'art for delegation' which you need to trust but verify, you need to inspect what you expect. There's a process of somebody coming into your organization, you're not giving him the login to your chase account before they're proven to be part of your team and knowing everything and they lived up to that level. When you give too much weight too quickly without verifying if that person shares the same vision as you or will have the same outcome that you would have, then ultimately you fail. But if you do it in steps, then ultimately, you'll be able to let go slowly but surely and free up a lot of your time that you can focus on more important things that you can do that nobody else will do if you don't do it right.
6:48 Meny’s Valuable Free Resource (VFR): The free resources are simple as that, because I've spoken to so many people on this topic, I ended up writing a full guide where it leads you not only on the conceptional part and the strategy behind it, it also gives you step by step on how to actually do it. And literally start by taking the next few days and write down everything you do and then start figuring out what are the things that you're going to be delegating. And we also share the 5 steps of the proper delegation. The way to get it is our main website, it's ptexgroup.com/delegation. On that link, you'll first see a blog post on this topic and right on the bottom of that page you'll be able to actually subscribe and download that guide. The reason for that is, I want the audience to read about this topic, not just "let me download something and when I have time, I will read it". I want you to get right to it. Read some stuff that you could take action on. I always say 'don't let perfection get into the way of progress', start doing a little bit of the delegation. Then download the guide, start following the guide and ultimately, you'll see progress. That momentum will tell you "let me do more of it." And you will see the success of it.
8:16 What is the hardest thing of growing a company? My answer would be it's not so hard to grow a company; we're living in a world that you have so much available in front of you, your computer that you can start any type of company. What is the hard part? Managing the growth. Because most people are very comfortable starting a company because they will take their skill set, they'll go to their friends and family, that will be the first few clients. Ultimately, they'll do it again and again and at one point, they'll hit a plateau, because they need to start growing. They need to start managing their growth. Maybe bringing in more people, letting go of different things. I always tell people that when you hit that plateau, ask yourself "are you just here to grow a company or you want to start setting yourself up for scale?" and there is art on setting yourself up for scale and you got to go out there and learn it. Which is who is in charge of sales, who is in charge of marketing, what is my vision for the future, what is my core value as my culture of excellence as you mentioned. Which type of business do I want to build. Do I want freedom or remote, do I want to have a culture that everybody loves coming to this office and huddle around and having this conversation, be transparent or whatever it is. We have people who's been putting a lot of effort in our company in all these years with our Ethos which is our core value and making sure we hire and fire based on that. Of course, we need skillset but you got to have a culture that everybody loves coming to work. And even if you are a solo entrepreneur, at one point you need to ask yourself "am I going to stay that way or am I at one point moving into a scalability and if that's the case, what do I need to prepare to have a scalable business?"
“When you're not surrounding yourself with other people that could actually help you and support you in what you need to do, then you're missing out" – Meny Hoffman