7CEO 046: Effective People Management With Yuri Elkaim

The 7-Figure CEO Podcast

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Yuri Elkaim was propelled into the health, fitness and well-being industry after going through some medical circumstances he faced at a young age. He had a rebellious, entrepreneurial personality and decided to start his own company to help people become healthy. In his first year, he made $6,000 online working part-time. After four years, they broke the 7-figure mark. Over the years he has published three books, including a New York Times best seller, and now coaches wellness and health professionals to grow their businesses. He has a vision to reach a billion healthy people on the planet.

LINKS

Connect With Yuri: YuriElkaim.com

Download “The Idea Filter†: Healthpreneurgroup.com

Upwork (online freelance platform): https://www.upwork.com/

Groove HQ (simple help desk software): https://www.groovehq.com/

Apply for a Breakthrough Call with Casey: CaseyGraham.com/Action

Email your top take-aways and learnings to [e-mail]

Take-Aways How Do You Set A Good Goal

The point of setting a goal is not that you get the exact right number, but that you set a direction for yourself and your company to start moving. Focus more on setting things into motion than making sure you have the precise goal or number in front of you.

2. Recruiting A Team

When you first begin you will likely be doing a lot of work and handling most of the details. But as you grow, it’s important recruit a team so you will be doing what you’re best at and what gives you the most energy.

3. Getting Unstuck

One of the best things you can do to get unstuck in your business, leadership and life is to get out of your normal routine and meet new people. You can connect with other industry leaders at conferences and meet ups. These relationships can lead to mentors and ideas to help you move beyond your current place in life and business.

4. Hiring In A 7-Figure Business

Yuri attributes low turnover to hiring people that are deeply passionate about their industry, plus providing a flexible schedule with clearly defined results they are expected to hit. They tend to hire people who are young, committed to growing and learning and developing their skills and particular craft.

The most important part of hiring is to start with a very clear job profile so you know who you’re looking for. You can go to sites like Upwork to find a people, as well as ask your customers and team members who they know.

Verne Harnish teaches “the organization’s biggest weakness is the CEO’s biggest strengthâ€. To make your business stronger, you must be willing to give away the responsibilities and results that are your strengths. That will create a well-rounded organization that’s not dependent on you.

5. Have A Defined Meeting Rhythm

Schedule a Weekly Team Meeting: Thirty minutes to recap a success from the previous week, review key metrics, highlight a customer story, look at the week ahead and evaluate the progress of quarterly goals.

Be cautious that you’re not meeting your people to death. The best way to do that is to lead by numbers and review those once a week.

Effectively Managing People For Results

The best way to manage your people well is to setup Key Performance Indicators (KPIs) for each role. These are the most important results they are consistently working towards. KPIs are the 3-5 most important metrics that help move your business forward.

Example KPIs include: New daily opt-ins, unique visits to blog via search (non-paid), average time on website, ROI on ad spend, membership retention/churn rate

Cash Is King

It’s important to stay connected to your financials and review reports regularly. For example, daily sales, cash flow report for what’s expected for income and expenses and monthly financial reviews. Yuri has decided to save 10% of all sales to make sure they’re able to tackle any issues they face. Another idea is to save three month’s operating expenses.

Feeling Stuck In Your Business?

I’m currently offering free 30-minute Breakthrough Calls to help business owners, presidents and CEOs with their current business challenge. If you have over $400K in annual revenue and would like help, schedule your free Breakthrough Call today.