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Ep 191: Knowing When to Pass on Elements of Your Company to Others with Charles Read
Elzie interviews Charles Read from Get Payroll, a Payroll Service Bureau in business for 30 years. Get Payroll provides payroll and payroll-related services to small businesses around the country.
Charles talks about what got him into finance, his take on the critical nature of sales, and how he evolved from a corporate employee to a successful business owner. Charles relays a story about working for the worst boss he ever had and how that experience taught him how to be a better employer and how not to treat his employees.
Charles offers tips on effective marketing and the importance of excellent customer service. He stresses the importance of knowing what you do well and when to hire someone to do the elements of the company that you don’t excel at.
To get a free copy of Charles’ book, The Payroll Book: A Guide for Small Businesses and Startups, go to thepayrollbook.com and enter - Code: enow!
Highlights:
04:45 Sales is critical. If you don’t bring in revenue, you can’t pay salaries, you can’t pay the rent, you can’t pay the light bill. So sales and revenue are critical and you have to keep growing or you’re going to fall into a rut.
05:37 For a single sit down meeting I can sell my company day in and day out. I believe in it, I believe in what we do, I think we’re very, very good at what we do and I care about it. To be a salesman every day of the week - I can’t handle it.
08:01 The experience I got in corporate was critical to being a success as an entrepreneur. It taught me a lot of things.
09:13 To me, marketing brings in the leads, sales closes them.
13:47 My mistake was thinking I could do things that I couldn’t and that’s a typical entrepreneurial mistake. I’ve learned, you don’t have to be the smartest person in the room, you just have to know how to hire the smartest person in the room.
15:28 There’s a lesson in that. Having the self-awareness to know what you’re good at and what you’re not good at is a key to success.
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