Straight Talk About Small Business Success

Building a World-Class Team to Boost Your Business with Douglas Utberg

Episode Summary

Learn how to build the dream team by leveraging technology! Value-Obsessed business owner and entrepreneur Doug Utberg sits down with us to offer strategies leaders can use to attract world-class talent and increase work efficiency while effectively managing the business budget. He also shares his own take on how business owners can achieve work-life balance and why focus is key to success. Throughout his career, Doug is at the forefront of influencing and implementing a consistent string of value and profit-positive business decisions. Doug is the host of the Terminal Value podcast and he also provides value-based consulting at Terminal Value, working with founders and executive decision-makers to enhance the financial and organizational results of their businesses.

Episode Notes

[00:01 - 08:00] Opening Segment

• Welcome to the Show! 
• Get to know our guest, Doug Utberg
• Doug shares one of the worst experiences of his life: getting laid off from his corporate job
• How he eventually found his passion for helping businesses put together a world-class team
  • Breaking out of the General Electric religion

[08:01 - 17:58] Setting Up Efficient and Cost-Effective Manpower

• Documentation is important, especially when you have offshore teams
  • Check out the American Productivity & Quality Center Process Classification Framework
• Take advantage of geographic arbitrage
• Optimize workflow and automate repetitive tasks
• Know where to press the gas or pump the brakes when it comes to budget allocation on technologies and workforce
  • What is giving the highest ROI?
• Find people who are a good fit for the team
  • Compensation should be competitive
  • Be upfront about the career progression within the company

[17:59 - 25:25] Finding Balance as Entrepreneurs

• Prioritize and know when to draw the line
• What most important one next thing that I should be doing?
  • Read The ONE Thing by Gary Keller and Jay Papasan
• Multitasking ultimately comes down to doing multiple things poorly at once

[25:26 - 26:41] Closing Segment

Connect with Doug through LinkedIn and Facebook! Visit The Terminal Value website and listen to his podcast!

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Tweetable Quotes

“There's a beautiful magic thing that happens when things are documented, especially if they're documented in a way that a fairly low-skilled person can handle it.” - Doug Utberg

“The guiding light that you want to kind of keep in mind anytime we're looking at technology is is this replacing manual labor or is this requiring more manual labor?” - Doug Utberg

“In a lot of small businesses, there's not necessarily a career path for people. The way that I like to approach that is to just be upfront with it.” - Doug Utberg