TIM411: Answering Your Entrepreneurial Questions

Today on TIM411, Tim answers the question, "How to lead my small team when I have most of the business knowledge in my head?" This is a really good question as it is a problem many entrepreneurs face this problem all the time. Tim shares how you can have your team do their jobs well and help grow your company without needing to take tons of time to get all your knowledge out of your head. I'm looking at you, Melanie! To learn how to run your team, get free training at http://TimConley.co/bootcamp/

Today on TIM411, Tim answers a question from Maciej Godlewski from Fired Up Digital. Maciej wants to optimize his team structure so he asks if switching from skill set silos where for example all SEO experts get all clients who need SEO to a model where a team of experts handle a set number of clients. He wants to know if making this change will help his company grow. Listen in to learn how to better structure your team for greater scale.

In this episode, Tim recommends you go back to the source material. One of the best thinkers on management was Peter Drucker. He was the godfather of modern management and many people have reused his ideas in their management books ever since. If you've not read the great book by Peter Drucker called The Effective Executive you can get it here: http://amzn.to/1TUAkjX

Today on TIM411, Tim answers the question, "If we're not ready or capable to bring on new customers, how do we stop marketing, but not dry up the sales pipeline?" This question is really about flattening the feast-famine cycle that many B2B service providers get into. It also happens in product businesses when they sell out of product, months go by before new stock comes in and then they have to build up demand again. This episode talks about how to forecast and handle those down times. Join The Forge http://bit.ly/entertheforge How To Scale Your Business Training If you want to get in-depth training on operating and scaling your business check out The Bootcamp: http://TimConley.co/bootcamp/

Today on TIM411, Tim answers the question, "What should my gross margins be?" This is probably the most important metric to measure in your business. Listen in to find out how to make a fortune by fixing your margins. Join The Forge http://bit.ly/entertheforge How To Scale Your Business Training If you want to get in-depth training on operating and scaling your business check out The Bootcamp: http://TimConley.co/bootcamp/

Today on TIM411, Tim answers the question, "I made a few really bad hires and now I have to fire them, but still need to work to get done. What do I do?" You need to know why you think the employee is a bad hire. Find out if there is a better place for the employee in the company. If not, you must do the mature thing for the good of your company and fire the bad hire. But you still have to get work done. So listen in on how to handle this tricky situation.

Today on TIM411, Tim answers the question, "I'm working 12 hours a day, barely see my family, have no free time, make little money, and I reinvest everything back into my business. What should I do?" This is a common problem with most entrepreneurs. When you look around online it seems like everyone is crushing it. They probably aren't. Listen in to learn how to gain 'balance' in your business and life.

Today on TIM411, Tim answers the question, "Should I pay myself or my employees first?" As entrepreneurs we take on the risk of business in exchange for future reward. Employees trade future reward with limited risk today. So employees get paid first. But the reality behind this question is why is it being asked in the first place? Typically a business owner asking this question has a gross margins problem because ultimately both should be getting paid at the same time. Listen in to learn how to fix this problem.