750: Give Yourself a Pay Raise: Break Your Income Ceiling and Get Others to Run Your Business For You with Lance Tamashiro

Can you relate to having FOMO -- Fear of Missing Out? Do you wish you had more time to pursue those fun bizopps or "income" projects to create passive income?

Lance Tamashiro is a successful entrepreneur and the co-founder of Tamashiro Marketing. He has been a frequent guest on the Marketer of the Day podcast. Today, Lance talks about strategies for scaling a business, including overcoming income ceilings, hiring employees, and building standalone business units. He shares his personal experiences and insights on how to effectively manage growth and delegate tasks to free up time for the business owner.

Quotes

“Raising that ceiling is a very simple process. As far as increasing bandwidth, increasing those tasks, freeing us to do things that we've always thought about but have never done, it's simply a matter of adding employees.” - Lance Tamashiro

“It's whatever you're comfortable using, especially with your first employee. Make them fit into what you currently have, and you'll find better tools or better ways, but the tool is not important.” - Lance Tamashiro

“Believe in yourself enough to know that this could literally change your life.” - Lance Tamashiro

Takeaways

00:43 Hiring employees can help break through income ceilings by increasing bandwidth and resources.

03:55 Overcoming the ego and trusting employees to handle tasks is crucial for business growth.

05:56 Building standalone business units, like Etsy stores or Amazon listings, can create passive income streams.

16:04 Scaling a business doesn't have to be a sudden, overwhelming process; it can be done gradually.

22:54 Utilizing existing training resources and allowing employees to learn on the job can streamline the hiring process.

31:47 Gradually building trust and allowing employees to work independently can lead to a more hands-off management approach.

40:19 Embracing the unknown and being open to learning new tools and systems can help streamline the hiring and scaling process.

50:36 Reflecting on past mistakes and regrets can provide valuable insights for improving business growth strategies.

Resources

• Tamashiro Marketing: SEO & Marketing

Podcast: Play in new window | Download (Duration: 59:59 — 55.1MB) | Embed

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Filed in: Archive 3: 2018-2020 • Interview • Podcast