How I went from 0 – 14 employees, 200+ customers in a year
RTOWN offers an integrated suite of digital marketing solutions for small and local business. Serving Vancouver’s Lower Mainland, Whistler & Kamloops.
“Being an entrepreneur is like eating glass and staring into the abyss of death”
– Elon Musk
Business Success Formula
- Problem x Solution x Execution x Team x Luck
- You cant do it alone – You need a fantastic team!
- Vision = Purpose + Mission + Core Values
- Why = Your inspiration
Luke’s Must Read List:
- Topgrading by Bradford D. Smart
- Who: The A Method for Hiring by Geoff Smart and Randy Street
- Built to Sell: Creating a Business that Can Survive Without You by John Warrilow
- Mastering the rockefeller habits
- 5 Dysfunctions of a Team
- People don’t buy what you sell they buy why you do it.
- Make it compelling.
- This is what people connect to. If it matters people inside and outside of you business will connect with it.
Codify your care vales
- This is your how.
- What do you value?
- What are your non negotiables?
- This will guide everything you do.
- This will help you hire, fire and build a team.
RTOWN’S VALUES – Be clear on how you do it
- T Team over individuals
- R Remarkable Customer & Team Experience
- U Uncover a better way
- S Surplus for Purpose
- T Trust – Have actions to back up your words
- Don’t sell your customers something they don’t need or something that won’t work for them.
- Pick something difficult that is hard to replicate.
- Its all measurable marketing now.
Your most important decisions are not what decisions they are who decisions.
DO NOT Rush Hiring
- Hire slow, Fire fast
- Hire on potential – Young entrepreneurs group. Some of these kids will blow your mind.
Think of EVERYONE on your team
- Ask yourself – Would I enthusiastically hire this person again
- Diversity of talent is good
- Loyalty is good, but it has limits
- Patience for A players who temporarily become B players – Life is rough
- Fire a superstar if they don’t fit with the team
- Always pick team over individuals
- Expect & draw out conflict
- Debate makes you stronger but keep it healthy and respectful
- Is not a title
- Entrepreneurship is not a path towards being the boss
- 75 – 80 hour work weeks is the reality
- You need to constantly innovate and evolve
- An ounce of action is a pound of words
- Pull your energy into what you are good at. Hire people to fill in those gaps.
- Get customers
- who is that person
- Follow LuLulemon story
- Who are you serving – Know everything about them
- What are their problems
- Listen to them
- Keep them – Customer loyalty / build engagement
- Define your keep strategy
- Its 9X more easy to keep customers than find new ones
- Think about customer loyalty
- Don’t get customers get subscribers
FOCUS ON: Culture + Strategy + Cash Flow
DO YOU HAVE A BUSINESS OR A JOB?
- if you died would your business continue along without you?
- If no then you have a job not a business.
- Say no to things you don’t do.
1% vision, 99% Alignment – Jim collins
1% Dream, 99% Execution – Luke Aulin
Its not what you know, Its not who you know, Its what you DO with what you know and who you know
Did 3 Solid Months Of Networking
- Get customers / users then pivot
- Don’t try to make it perfect before you launch because you have no idea what the markets reaction will be.
Technology is no longer the competitive advantage its all about culture.
Luke Aulin Q & A Session
Do you hire when your out of capacity or in anticipation of growth?
- Depends Understand Your Cash Position
How do you determine price?
- Look at what the value you offer and what your competitors are doing.
How do you determine the size of a market before you dive in?
- Not my area of expertise
- Go for massive markets
- Find a subset of customers that will love you