Do smart students go to college? Or does college make students smart? I was reading an article at slate.com that was talking about the pivot…
Month: November 2013
After countless questions from affiliates, merchants and my staff I thought I’d do a post on how tracking works from a very core level. Then…
Welcome back. Glad to see your’e still with me.
Lets get started… (by the way the title of my posts were 3 steps originally, apparently I don’t know how to count.)
Step 4 – Write job descriptions for the roles on our financial model
That that we know what we’re going to focus on, you know what you need to get off your plate that low value
We’re going to write job descriptions… YAY! This sounds fun doesn’t it? NOT!
This isn’t the kind HR would make you write with all the legal crap in them. But rather just a list of duties that you’re going to put someone in charge of.
But it is important. Why you ask? Because we need to think about what you do on a daily basis. If you read through my last 3 part series you already have documented the jobs you do as an affiliate everyday. If you haven’t read it click here and go do it now because it’ll be imperative to you accomplishing this successfully. Continue reading 4 Steps to Building Models for an Affiliate Media Buying Company (or any company for that matter) – 3 of 3
This how we’re going to have your affiliate business running when we get done here. Just churning out campaigns like assembly line workers. *disclaimer: probably not
Still with me? Have you been doing the exercises? Each of these things leads to the next. We’re going to use pieces to build on.
That means if you haven’t done the past posts I highly suggest heading back and doing them now before moving forward.
Step 3 – Building a media buying business, financial model
For many years I never had a model I operated off of. Well I take that back, I did, just nothing in writing. It was all in my head (bad idea). I had started being an affiliate and all I knew was “I just want to make money”. Then I started A4D and that carried on the same way. I would hire people looking at the overall bottom line and thinking well they’re making money so I’m good. But operating this way made me not want to hire anyone that didn’t directly make the company revenue. Such as sales reps and account managers. Continue reading 4 Steps to Building Models for an Affiliate Media Buying Company (or any company for that matter) – 2 of 3
I really do appreciate all the readers of my blog. And because of that I’d really like to make sure I’m writing what people want…
Hmm well maybe not that kind of model.
Maybe this is more appropriate?
Boring! You wouldn’t have clicked on that one I’m sure.
Anyways lets get down to business.
If you didn’t read my last 3 part series. It was about how to build a system for freeing up your time to spend it on high value activities.
Well guess what this is your first HIGH VALUE ACTIVITY!
Obviously a lot of the last post was taking things off your plate and putting them on others. But you have to be careful about that. Why? Because, the MOST IMPORTANT thing about hiring people; is that you put them into good systems.
But how do you build and design those systems?
I’m not going to claim to be an expert in this department. I didn’t graduate from college and have learned from the world of hard knox. No fancy MBA’s or prestigious schools here. However over the last 20 years of running small to larger businesses I’ve constantly re-analyze what I’m doing and make it better. So this is all based on many years of building systems and companies.
Hope that’s good enough for you…. if not well you know what’s I’d say if you know me 😀
I hope there’s some PhD’s in business management that can give pointers in the comments on how to do things even better and even more efficient.
Lets get started with the magical process (well not really magical, but it sounded good)…. Continue reading 4 Steps to Building Models for an Affiliate Media Buying Company (or any company for that matter) – 1 of 3
Heard that quote before?
Probably (Glengarry Glen Ross)… now why is that?
Read this post a few times today. It’s a synopsis of a book about how Rich people think differently called “How Rich People Think” by author Steve Siebold. And honestly, I think this applies not just to richness in wealth but richness in life as well. Here’s a re-paste of the article
21 Way Rich People Think Differently
World’s richest woman Gina Rinehart is enduring a media firestorm over an article in which she takes the “jealous” middle class to task for ‘drinking or smoking and socializing’ rather than working to earn their own fortune. What if she has a point? Steve Siebold, author of ‘How Rich People Think’ spent nearly three decades interviewing millionaires around the world to find out what separates them from everyone else. It had little to do with money itself, he told Business Insider. It was about their mentality. “[The middle class] tells people to be happy with what they have,” he said. “And on the whole, most people are steeped in fear when it comes to money.” Continue reading 21 Way Rich People Think Differently
3:30 am on a Saturday morning. I’ve been traveling around the world and my timezones are all messed up. So I woke up after going…
Step 4 – Deciding who to hire.
I break people to hire into 3 categories. Expensive high value people, support people and outsourced people.
Lets start with outsourced people. This would entail people like house cleaners and personal shoppers. Not going to talk about this one much. But what I suggest here is get referrals and if you can’t do that put and ad on craigslist. Then test at least 3-5 different people. For example if we were hiring a house keeper I’d let them know that you’re testing out 3-5 different house keepers to see who does the best work. Then at the end of the trial period hire the one you like the most. I know this is a little time/labor intensive but typically you only have to do it once this way.
High Value People. When I first started hiring all I focused on was hiring as cheap as possible. Because I looked at employees as an expense rather then an investment.
Employees should be thought of as an investment, not an expense!
This behavior led to me having limited roles/jobs within the company and trying to make everyone the same level/role. Continue reading Earn More $ with a Throughput Management System – 3 of 3