077: Preventing Entrepreneurial Burnout with Tim Francis

Today, Nicholas interviews Tim Francis, who is an award-winning entrepreneur from Canada, and the founder of Profit Factory and Great Assistant. Tim is a graduate of the University of Alberta, and a Certified Scrum Product Owner. In 2010, Tim was blindsided by a rare illness called Erythema Nodosum, leaving him crippled for three months. After nearly going bankrupt, Tim decided that he was never going to a burned-out entrepreneur again, which lead to the creation of his successful businesses.

 

Timestamped Show Notes:

[02:35] Tim’s Journey

[08:40] Painting Houses

[11:50] Breaking it Down

[17:00] ROI

[21:35] Toolbox

[29:50] Common Mistakes

 

Takeaways:

• “My dream and my goals are more important than my pride.” - Tim Francis
• Make a log of what you do every 15 minutes. If it’s something that you’re doing constantly, you dislike it, and it takes time away from actually profiting in your business, you can hand it off to someone else.
• Dramatically expand the amount of potential assistants that you’re looking at.
• Don’t hire the first person you meet.
• Show your assistant how you want things done instead of telling them what to do. Show them examples.
• Three major pitfalls that entrepreneurs often fall into when hiring and working with virtual assistants are: Hiring the wrong assistant, poor or non-existent on-board training, and poor or non-existent delegation

 

Mentions:

www.greatassistant.com/toolbox

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You can find Nicholas on Instagram: @nicholasbayerle