7 Unconventional Ways We Run Our Companies |

Marketing School
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I'm Eric Su and I'm Neil Patel and today we are going to talk about seven confessional ways. We've run our companies all right so I will start with way number one so we have a hybrid remote model so we like remote were remote friendly. I'll say it that way. So on the agency side. Because we can having to serendipity of people getting creative and talking in a room and there's just a lot of ideas that go back and forth and a lot of touch points on that we do a three to model meaning that were in the offices Monday through Wednesday and Thursday Friday. People work from home and they really liked that model because Thursday Friday ticket to just focus on the work and then by the time. Monday rolls around. They're excited to come back into work. And then when did her Wednesday crinkle meetings again and just go back home? So that's worked out really well for us over the years so this would be number two unconventional way that I run my companies is I was put a CEO in place. So I'm a big believer. No matter what I do. You always want someone leading the ship. Whose amazing operations growing recruiting and I believe in folks as well also every time. I'm running a business a technically one. I never run a business but to put a CEO in place who's been successful. And when I heard the usual look for someone who's done it successfully before at least two times because if they've only done it successfully once it could be locked done at twice. The chances are they really are good at it so they should be able to do it a third time. Yup and the other thing. I'll say is probably applies Neil as well but we are generally pretty direct with our feedback. Sometimes there's organizations where they actually all tied in with a couple of things but people will sugarcoat things right. People don't WanNa rock the boat. They don't want to make people feel sad. They don't want people cry generally my personality and Neal's first now is we delivered read feedback if things aren't going well it's like hey we're seeing this with the numbers right now. Does seem like things are going. Well what can I do to help right? We delivered directly back. But it's also comes from a place of continued to help the company before because the company is a high performance sports team so if things aren't going well for someone over time that what will try to do we got this from Bob. Glazer from acceleration. Partners is someone's done well for us over the years and it just doesn't seem to be clicking anymore. We'll offer a mindful transition program. Meaning that you know. We'll help them find something and we'll continue to pay them and then we'll make it a good thing for them where the departure was amicable and it wasn't like someone got fired from that right so there's no surprises on both sides. So that is what number three number four. I love creating ten percent. Profit sharing pool for people who can just crank and generate revenue. And I make a dog eat dog world where it doesn't matter what your title is depending on your performance. That's how much you can end up getting the lowest person on the totem pole. But if you're producing the most impact for the business in theory you can have a bigger stake of a profit-sharing pool. Now I try to do this for all my companies. It doesn't always work out and the reason being is when you first start amount allowed times. You're losing money or breaking even in those cases you can't have a profit sharing will once they grow to be big enough then rolled out that concept and I took a lot of the modeling from profit-sharing pool from Sequoia if you look out partners at sequoia capital when they invest in companies and they have home runs and exits? They don't just split the money evenly? The people who bring the best deals in performed the best tend to make the most money from that will all right number five. We encourage people to have side projects because we think the work that we do requires creative thinking so if you're working on side projects a lot of creative work that you're doing is actually going to carry over into company. Someone has a creative project really takes off good for them. They can start their own thing more power to them but at the same time my company actually got the benefit from the learnings that they put forth and the experiments that they read so better across the board people feel happier. And you don't WanNa limit people saying oh you can have side projects. I'm as long as not competitive to the company that they're part of Dan. There's generally no complaints another unconventional thing that we do in this is number six. We're really big on lunch and learns and I know a lot of companies are rolling that out and they'll disc of like a presentation on a topic are way doesn't work out that way so like for example on my last lunch and learn that I did. I tend to do myself. I'll end up breaking on topic so the topic was content. Marketing and blogging. And I went over with a group of how to write amazing content for blog posts and I didn't care what department they were in. Everyone had to start writing blog posts and on the spot so the lunch last hour. So I'm telling people to come up with the topic of teaching them how to write an introduction having them do it right then and there on the spot and then they got to read it out loud and I'm critiquing them critiquing. Everyone's I'm doing it in a positive proactive way where we can learn from it. When I'm critiquing I'm telling him here's what you can fix and how to make it better so I'll do these types of lunch and learn every other week and the reason being is helps people sharpen up their skills. No matter what position you're in you can always learn more. You can always be sharper. And I don't like just the concept of teaching strategies talking as you want them to do it because the moment they're doing it and implementing it that means are learning it and it works out much better for them versus them just reading about it all right last but not least number seven so we got this from Jeff Bezos. This is how Amazon things so back in the day. Even now they do. Something called memos and this could be basically. Let's Neil comes up with an idea right instead of saying. Hey I'm going to call a meeting because I have a new idea you're required to write a memo and sometimes really good memo takes a week or longer to write and it's basically okay. Here's the new idea but it starts with the press release so everyone is a down in a room and the read. The press release I another read frequently asked questions an overview around the idea. What resources required all this different stuff? So it's basically like a speck of the project with the press. Release in there so people can get a good idea of what they're trying to accomplish but what happens there after everyone had room the read the memo for maybe ten to thirty minutes or so then a debate will happen and then you know the last five minutes of the meeting. Basically there'll be a decision that will be made now what this basically forces is. It will scare people from basically throwing meetings whenever they WANNA throw meetings and forces clarity of thought as well and then also because you know everyone read the document and all the questions are answered from that document because that person all the effort you get a decision much faster and you move a lot faster and when you call a memo meeting like that. You're also very cognizant of all the time that you're going to take from the other people because if you're dragging a bunch of busy executives into a room and you know you clearly didn't think through things and they're not happy at the end of it. You are going to be in trouble at the end so memo expensive too right. You're wasting everyone's time everyone's getting paid. Which is a huge expense company? Neil you and I think about that all the time if people are just sitting in meetings kind of just messing around. We're just thinking about all the money going out the door right. Do we have a rule to in our AD agency. We don't like more than three people in a meeting. And it's not that we don't want meetings. We want people to work on the client work and not just sitting doing meeting. Because if you're sitting in a meeting you're not getting work done for our client. Sure you need meetings here and there to strategize figure out what we're doing how we're getting people better results but is not going to happen unless you go out there and do the work so we don't want people in meetings all day. Yeah Fun thing. I'll say from my side is I was reading hacker news. Basically you can just Google Amazon Hacker News and Jeff Basil's memo something like that right you'll find it and people that used to work for Amazon ended up starting their own companies. They said by far the biggest impact thing they got was learning how to take that memo system into their new company. And so I actually got it after. I was reading the Amazon shareholder letters. There's this book that summarize all the shareholder letters Dow's biggest takeaway. I got from that book so we started doing it and the results have been incredible so far so I'll have to report again on it. Maybe in a year or so but so far so good so I recommend checking that

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