Transitioning from freelancer to CEO: When do you stop doing and start delegating?

Are you a side-hustler who's used to doing everything on your own? Are you getting buried in tasks and looking for the secret to start delegating your workload off? In this video Eric Siu shares...

Full Transcript of The Video

Eric Siu: In this video we're gonna talk about transitioning from freelancer to CEO. When do you stop doing and start delegating. So this is something I dealt with a lot in my early days as a online marketer, I wanted to offer consulting services, 'cause I thought I could do better than the agency that I worked for. Turns out that the other agency that I worked for actually had a lot of processes and the business process around it was really well thought out.
The question is, when do you begin to transition from being that freelancer to becoming a CEO because doing the work is great, right? Like it's fun, but after a while it starts to feel like, "Okay. What's next?" Right? So for me, I'm always looking for what next. If you think about some of the biggest businesses in the world, if you look at Facebook for example. Question for you. Does Mark Zuckerberg still write code? Probably not, right? He doesn't code 'cause first of all he has better programmers helping him create a better product, Facebook, you have WhatsApp, you have Instagram, and Oculus for example. And he has to focus on doing the high impact things to help grow the business, right? Same thing with Larry Ellison from Oracle for example. Or even Larry and Sergey from Google. They're no longer writing code anymore, at least for Google, right? They let the smarter people than them handle that, which is why they hire smart people in the first place.
That's what you need to focus on in the future, right? So, what you need to think about is the 15% rule. So what does that mean? You're gonna be wearing a bunch of hats at the beginning, right? So you're gonna be doing finance, you are gonna be doing the actual work, you're gonna be doing the prospecting as well, you're gonna be doing the marketing as well. But every quarter think about the 15% of things you could be taking off your plate, right? I like to call this the ... You look at the $10 task, the $100 task, the $1,000 an hour task, $10,000 an hour. What can you be constantly taking off your plate? And when you start to hire more people, what can you take off the plate of the people that are on your team as well? That's what it's all about, it's constantly figuring out how to gain the most leverage, and then that's how you grow your business.
The last framework that I'll give you right now is the Eisenhower Framework. So the Eisenhower Framework is figuring out what's important and what are the urgent things as well. And then you have different quadrants, right? Here's the thing. Oftentimes for us as freelancers, we get caught up in doing too many things, right? We're reacting to emails, the client's not happy about this, you've got to do this, or, if you're working for somebody else, the boss asks you to do this, right? You're merely just reacting to things. What you've gotta think about is mostly focusing your effort on the high impact things. At least putting some time aside for it, right? So, doing the things that are important, but not urgent. Wait, but it's not urgent, why should I do it? It's because the things that ... Strategy, right? Strategy stuff is not urgent, but it is the highest leverage thing, or one of the higher leverage things, that you can do to grow your business in the long term. So you have to set aside time for that. And in order to figure out what's high priority and what isn't, use the Eisenhower Framework for that. And then every quarter, use the 15% rule, take things off your plate.
So if you like videos like this, hit subscribe and keep watching. We'll see you in the next video.

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