Episode 134-“Clockwork”, with Mike Michalowicz
Mike Michalowicz’ new book, Clockwork, continues his tradition of writing VERY actionable books. While business books containing one great idea are published every week, Michalowicz’ books are valuable because of the action they trigger. His Pumpkin Plan and Profit First strategies are part of our Incubator and Growth Phase curriculum, and Clockwork’s “Queen Bee Role” has been the subject of great discussion in our private Facebook group.
First, we start with Mike’s definition of the Entrepreneur’s Survival Trap: doing the things that will help you survive the day, but won’t grow your business. It’s the rush to the “urgent problems” without considering the future we’re trying to reach.
Then we talk about Parkinson’s Law: how your tasks will always expand to fill the time you have. You’ll always be busy. The key to success is to do the RIGHT things.
(What are the “right things”? That depends on which phase of entrepreneurship you’re in! Take our test here.)
Mike said that he doesn’t like the “grind” and “hustle” mentality that many business speakers push now. I agree (here’s our post called “The Hustle Is A Lie.”)
Mike went into his “4-D Mix” – where an entrepreneur spends his time, between Doing, Deciding, Delegating, and Designing.
All of us know we need to spend more time thinking about our business; planning for growth; identifying and prioritizing opportunities. But we all get sucked into the daily delivery of our service. Mike gives us a great exercise to get more “Designing” time. He calls this the QBR: The “Queen Bee Role”.
Mike explained how to get yourself out of daily Doing, Deciding, and then how to properly Delegate. Then we got into Design, and what you SHOULD be doing every day.
Michalowicz says that after you identify the ONE thing that will grow your business, you–the entrepreneur–should be able to take time away from the business without it collapsing. Just make sure someone is doing the QBR!
In creative businesses (for example, if you’re an author or painter) it’s harder to replace yourself in the QBR. That doesn’t mean it can’t be done, at least partially. For a solopreneur (like a gym owner or attorney), it’s still possible to move lower-value roles off your plate!
What will you DO with the extra time? You’ll think about which opportunities to take (because when you have the time to look, there are always more opportunities than you can possibly handle! Every entrepreneur in our Tinker program knows that’s true!)
As you move away from Doing everything in your business, you’re going to be tempted to stick your fingers in the gears. Your ego will jump up and say, “This is MY company! I need to feel important!” Mike talks about his experience with this struggle and how to beat them.
BONUS: Mike’s “AC/DC” test to see how your business systems are doing. Rock on!
Finally, most of us actually LIKE working. The point is to have the choice, instead of fighting fires all day!
THEN Greg Strauch interviews Rebecca Boskovic of The Fittest Me – listen to this TwoBrain Family member’s story! You’ll LOVE IT!
Mike Michalowicz’ Fan Page on Facebook: https://www.facebook.com/MikeMichalowiczFanPage/