Dream Business Radio – Automate and Delegate – March 15, 2023

This week on Dream Business Radio Show, Brook Borup had the privilege of being interviewed by Captain Jim Palmer for an engaging conversation. 🎙

Brook has often been described as the “Swiss Army Knife for Business,” and in this interview, she explored how she can be a jack of all trades with a solution to almost any business pain. Whether it’s through thoughtful conversation or good old-fashioned hard work, Brook is there to help businesses navigate the challenges and opportunities that come their way.

From strategic insights to hands-on solutions, if there’s something your business needs, Brook can show you the way!
Stay tuned for the interview, and let’s dive into the world of business transformation and solutions together. 🌟

Here are the Official show notes, Enjoy!

[00:01:21] Dream Business Radio, brought to you by the Dream Business Mastermind, where tired and overwhelmed entrepreneurs discover growth opportunities.
[00:05:43] A deep dive into the importance of foresight in leadership, discussing essential traits and insights on entrepreneurship.
[00:07:48] With experience in mergers, acquisitions, and selling businesses, Brook Borup emphasizes the significance of a business operating independently from its owner. Valuable lessons from selling a business twice, highlighting the need for sustainable cash flow, a robust customer base, and ensuring the new owner’s ability to manage it. Long-term vision versus short-term goals.
[00:10:29] Tales of business woes, including a domain loss and a $50,000 ransom, showcase Brook’s expertise in marketing and strategic problem-solving.
[00:13:59] Practical advice on optimizing productivity: working smarter, not harder. Delegate low-priority tasks to free up time for high-value work.
[00:16:58] The art of delegation: creating role-based emails as a strategic precursor to efficient hiring.
[00:22:11] The 80% rule: encouraging clients to be comfortable with outsourcing tasks, allowing them to focus on more critical endeavors, ultimately saving both time and money. The importance of relinquishing control for entrepreneurial success.
[00:24:42] How MyClone Solution helps businesses scale and enhance efficiency.
[00:28:50] Navigating the ever-evolving landscape of AI, technology, and business. Embracing the latest tech trends to stay ahead.
[00:32:54] The perils of neglecting long-term planning and the painful consequences of inconsistency in business.
[00:33:33] The speaker talks about finding a monthly payment for an unused program on their credit card.
[00:36:54] A wrap-up of the enlightening interview with Brook Borup, focusing on the vital role of delegation and inviting listeners to connect with her for further guidance. For more resources, visit getjimpalmer.com.

Questions Answered in this Episode

1. How can entrepreneurs evaluate and mitigate potential risks before implementing a new program or project?
2. What are some strategies for preventing the loss of valuable assets, such as domain names, in the digital landscape?
3. How can entrepreneurs effectively handle the transfer of ownership and succession planning in the event of their own passing?
4. What are some valuable areas of expertise that entrepreneurs can acquire by working with experts and implementing strategies?
5. How do you stay updated with the latest technology and equipment to ensure your business is efficient and competitive?
6. How can entrepreneurs overcome their control freak tendencies and delegate tasks to improve efficiency and productivity?
7. What strategies can entrepreneurs use to effectively manage multiple businesses and clients simultaneously?
8. How important is delegation for entrepreneurs to successfully scale their businesses?
9. What are some practical steps entrepreneurs can take to start delegating tasks and building a reliable team?
10. How can entrepreneurs shift their mindset from focusing on short-term tasks to considering the long-term value and sustainability of their businesses?

Key Topics

I. Introduction
• Overview of the Dream Business Mastermind program led by Jim Palmer

II. Importance of Thinking Ahead and Self-Reflection
• Discussing potential challenges and risks before implementing new programs or projects
• Encouraging self-reflection to prevent issues or find solutions
• Curiosity about family members’ opinions on becoming an entrepreneur

III. Examples of Business Difficulties Faced
• Story of a client losing a domain name and receiving a $50,000 ransom from a porn site
• Dealing with business owners’ deaths and transferring ownership to their children

IV. Gaining Knowledge and Expertise
• Learning from experts and implementing strategies in various areas
• Confidence in handling all aspects of a business, from marketing to billing
• Business being seen as constantly changing, compared to the speed of light
• Acknowledging the emergence of AI and new technologies
• Reference to recent developments in the digital landscape, such as TikTok

V. The Importance of Staying Updated with Technology
• Reference to the impracticality of the Kodak flip camera in 2009
• Advising on the importance of researching and implementing automation to improve efficiency
• Importance of having someone on the team responsible for technology updates

VI. Delegation and Outsourcing
• Advises clients to aim for 80% comfort with the results of outsourcing tasks
• Suggests freeing up time for more important tasks by allowing others to do tasks 80% as well
• Mention of control freak tendencies among entrepreneurs
• Personal experience with managing multiple businesses and coaching clients

VII. Daily Tasks and Delegation
• Highlighting the daily processing of credit card transactions
• Belief in the importance of delegation for entrepreneurial growth
• Personal experience of starting a business and realizing the need for help

VIII. Supporting Overwhelmed Business Owners
• Similar target audience between the speaker and the interviewer
• Focus on helping and supporting overwhelmed business owners to scale their businesses
• Role of assisting in building a strong team and efficient business infrastructure
• Focus on making the client’s sales team successful

IX. Delegating Tasks and Creating Systems
• Delegating tasks to the editor as an example
• Use of role-based emails for various functions
• Forwarding role-based emails to the business owner until hiring someone for each role
• Future plan of establishing clear job descriptions and preparation for delegation

X. Letting Go and Outsourcing
• Importance of letting go and outsourcing tasks
• Example of working efficiently at a rate of $400 per hour to earn $1,000,000
• Advising on hiring someone to handle lower-value tasks to focus on higher-value tasks

XI. Empathy for Financial Struggles
• Understanding financial struggles, including personal experience
• Mention of periods of unemployment and dealing with cancer

XII. Building a Valuable Business
• Familiarity with mergers, acquisitions, and selling businesses
• Experience with selling a newsletter business and importance of cash flow and a good customer list for buyers
• Emphasizing the importance of building a business that can function without the owner
• Helping entrepreneurs understand the long-term value of their business.

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