Fear or Greed

08/03/23 • 42 min

In this episode, we provide updates on our respective businesses and feeding the greed and fear index where business encountered a place of uncertainty in the economy while sharing some helpful advice on how businesses and individuals can not only survive, but thrive during an economic recession. This includes talking about the recent economic downturn and some helpful insights which will let everyone view situations in different perspective.

As always, we also provide updates on Castaway and EditorNinja, which include...

Updates on EditorNinja
Castaway Updates
Finding a competitive edge with Castaway

Sound interesting? You should give it a listen. We think you'll really enjoy it.

Want to support the show? [FREE]

Subscribe to future episodes in your favorite podcast app
Ask a question or leave us feedback on this episode
Leave an honest review on your favorite podcast platform
Share the show with a friend who might also enjoy it
Reach out to us on Twitter and give us your unfiltered feedback

Want more regular updates? Here are other ways to follow along:

Join Our Email Newsletter for early access and bonus content
Come and hang out with us in our Slack community
Follow James on Twitter and LinkedIn
Follow John on Twitter and LinkedIn

Thanks & Recognition

This episode was edited by PodcastBuffs.

TIME STAMP AND KEY IDEAS

(00:04:02) Pandemic Recession
There are winners or losers in business. Some business might have gone outside the grid during the global economic downturn as their services are getting weak demands. On the other side of the globe, there are other business who found a way through the recession and came across great opportunities especially for alcohol, soap, disinfectant and hygeine focused companies.

(00:04:48) Invest in Skills
Even with the pandemic recession, some companies which had found an opportunity with the situation has been lacking with employees so they considered hiring people and reconsidering what their market looks like. Business tend to find a person at the right time and should give the right offer for them - more like finding someone which can take the work and produce quality result.

(00:15:12) Manage Churn
Tackled one of the things to be fearful of right now which is a retraction or churn. Sort of hassle to actually need more volume in order to get the same number of customers as preceding years but churn is what kills subscription and recurring billing companies. This highlights the important to be an account manager who actually cares and monitor to have more people use the service more.

(00:19:15) AI Taking Over
AI is eating the SEO world and is commonitized. AI is somehow as good as Castaway where it can affect the business prices. This raises concern that there is a tendency to either lose business or find a competitive edge and there is no way losing is an option. Having a clear understanding of what your clients need are then it must be an easy way to go as this will open up opportunities for the business.

Lesson Takaway
Despite everything, try not hitting the panic button immediately. There are plenty of people out there who can close better deals, it is not a necessity to sacrifice too much over little things and strive as not to get locked in a job you don't enjoy too much.

As always, we also provide updates on Castaway and EditorNinja, which include...

Updates on EditorNinja
Castaway Updates
Finding a competitive edge with Castaway

Sound interesting? You should give it a listen. We think you'll really enjoy it.

Want to support the show? [FREE]

Subscribe to future episodes in your favorite podcast app
Ask a question or leave us feedback on this episode
Leave an honest review on your favorite podcast platform
Share the show with a friend who might also enjoy it
Reach out to us on Twitter and give us your unfiltered feedback

Want more regular updates? Here are other ways to follow along:

Join Our Email Newsletter for early access and bonus content
Come and hang out with us in our Slack community
Follow James on Twitter and LinkedIn
Follow John on Twitter and LinkedIn

Thanks & Recognition

This episode was edited by PodcastBuffs.

Previous Episode

Buying Back Your Time

In this episode, we provide updates on our respective businesses and discuss the hiring framework to help business owners who are in the process of onboarding new talents. Came up with a few sharing of book lessons, experiences in our own hiring process to keep you guys informed on the things needed to focus upon delegating roles to save you some time, effort and money.

As always, we also provide updates on Castaway and EditorNinja, which include...

Hiring and testing out VAs for EditorNinja
Announcement of EdNinja's launch of editing for ai created content service
Castaway Updates
Moving Productize and Scale website from WordPress Power to Ghost
James planning to launch more courses

Sound interesting? You should give it a listen. We think you'll really enjoy it.

Want to support the show? [FREE]

Subscribe to future episodes in your favorite podcast app
Ask a question or leave us feedback on this episode
Leave an honest review on your favorite podcast platform
Share the show with a friend who might also enjoy it
Reach out to us on Twitter and give us your unfiltered feedback

Want more regular updates? Here are other ways to follow along:

Join Our Email Newsletter for early access and bonus content
Come and hang out with us in our Slack community
Follow James on Twitter and LinkedIn
Follow John on Twitter and LinkedIn

Thanks & Recognition

This episode was edited by PodcastBuffs.

TIME STAMPS AND KEY IDEAS

(00:03:03) Hiring
EditorNinja talk's about Dan's book where it was emphasized that upon hiring, one must think at what they are good at, and do the process in terms of an energy and money kind of access. To make it short, hiring is somewhat similar to buying back your time and putting it in other stuffs which are actually of significance in the business.

(00:06:14) Hiring is a bet on oneself
Hiring is actually asking yourself if you can afford to hire somebody, or if you are in a position to actually bring somebody in. It's a process that needs to be delegated and outsourced carefully, looking for what's actually gonna move the needle. It was also tackled that oftentimes people make mistakes in hiring as they always focus on immediately hiring VA's or EA's without actually weighing in and asking themselves what roles am I delegating and I'm left to take on.

(00:08:46) Don't just delegate the task, delegate the role
It is good to get people to keep an eye on a task which is discussed by Dan highlighting how you don't just delegate task, you delegate the role and then they become responsible and accountable for that particular area. Delegating the role rather than the task will buy your time back, because it is as if you are replacing yourself by turning over that particular role to them and you just kind of move on to another role saving you 15-20% of your time which can be invested on other important matters.

(00:10;56) Focus on something you are good at
James talks about the idea of the accountability chart which kind of starts with picturing out what seats are needed to fill the in for the particular roles. Making a plan is essential and following a stairstep approach of hiring people to fill in those empty roles, as to only be left with ideally what business owners are good at. Basically focusing on what gives the highest value in the business and pouring attention into it.

(00:17:29) Updates on EditorNinja
EditorNinja is currently hiring and testing out VAs from different countries, basically observing the process for a month or so to see which one will do better. Announced the launch of editing for ai created content service, which has blown up pumping a higher demand for the service. In addition, the base price for copy editing and proofreading has been raised a bit - more or less 15-20% - but also considering on stepping up to a higher level, like adding AI content updating, developmental editing, and a full high touch level where customers give out content and EditorNinja will do everything for them.

(00:24:09) Updates from James
Sharing about how James is hiring thr...

Next Episode

Sometimes, It Requires More Than You Think

In this episode, we provide updates on our respective businesses and share some insights about the idea of doing more in the aspects of business and work. This highlights the idea that in order to get uncommon results, live an uncommon life which is an essential reference for a business which is striving to do a lot better in the future, always aiming to surpass expectations while also putting emphasis on work and life balance.

As always, we also provide updates on Castaway and EditorNinja, which include...

Updates on EditorNinja
Castaway updates
Emphasizing work and life balance

Sound interesting? You should give it a listen. We think you'll really enjoy it.

Want to support the show? [FREE]

Subscribe to future episodes in your favorite podcast app
Ask a question or leave us feedback on this episode
Leave an honest review on your favorite podcast platform
Share the show with a friend who might also enjoy it
Reach out to us on Twitter and give us your unfiltered feedback

Want more regular updates? Here are other ways to follow along:

Join Our Email Newsletter for early access and bonus content
Come and hang out with us in our Slack community
Follow James on Twitter and LinkedIn
Follow John on Twitter and LinkedIn

Thanks & Recognition

This episode was edited by PodcastBuffs.

TIME STAMPS AND KEY IDEAS

(00:00:31) The idea of doing more, sometimes it requires more than you think.
Discussions involve the idea that whatever you are doing or what your goal might be setting, one should multiply it by 10x because ultimately, you'll end up ahead, always striving to surpass expectations.

(00:01:07) Uncommon results : uncommon efforts
Sharing lessons from Hormo Z's book where he likes doing more volume to learn faster, work a lot faster which will eventually result to succeding a lot faster. Most of the time, people expect that they will get uncommon result even just doing the same normal things. However, it was emphasized that if anyone wants to get uncommon results, exert an uncommon level of effort and live an uncommon life.

(00:02:50) Best practice is the baseline
Reviewed over the base line of the things that should be done and nothing more assuring than make the best practice a standard. Key to that is always striving to take action instead of just staying stagnant, doing more effort, practicing more to be able to the get work done even faster. Moreover, one must hold oneself to imposed standrads, and act accordingly as everyone are commiting and dedicating their entire life basically to the single pursuit of whatever they are trying to do.

(00:13:21) Allocate experience points like a game
Compared skills updates on games with how work should be done. Increasing attributes is like allocating more experience, more hours and more focus on things which are important in a business. This is where productize and scale comes in because this will help in the idea of how to put people and processes in place. With productize, things can be brought up and turn into process rather than just randomly doing things.

(00:28:06) Focus on what is important
Knowing what's the focus is an advantage and a strength as it would enable the business to pave a way for the things of great significance and make sure it is done and executed well. It is also what being productive is like, alloting much time to things which are in the higher heirarchy and allocating proportionate amount of time to each, for example, tasks giving it more time, based on importance.

TAKEAWAY LESSON
Doing more with what you are doing is a good practice but upon working it is a must to consider a personal space as well. Strictly getting control and putting over boundaries between work and personal space is essential as to not exhaust the body and mental health. One must not bend ones life just so you can fit your employer's preferences, and remember to take into account a work and life balance.