Built Online Podcast - Episode 73 Summary

Title: From $100K to $1M: How Smart Hiring Scales Your E-Commerce Business with Yoni Kozminski
Host: Cody McGuffey
Guest: Yanni Kozminski, Co-Founder & CEO of Multiply Me Staffing
Release Date: October 29, 2024

1. Introduction

In Episode 73 of the Built Online Podcast, host Cody McGuffey welcomes Yanni Kozminski, the Co-Founder and CEO of Multiply Me Staffing. The episode delves into the pivotal role of smart hiring strategies in scaling e-commerce businesses from $100K to $1M and beyond.

2. Yanni’s Background and Multiply Me Staffing

Yanni introduces Multiply Me Staffing as a company dedicated to helping global businesses reduce operating costs, increase efficiency, and achieve growth by providing top-tier Filipino talent. Additionally, Yanni discusses Scala, their process improvement consultancy, which complements their staffing services by enhancing business systems and processes.

Yanni [00:00]: “Finding ways to get yourself out of the nitty gritty, sort of dirty details...”

3. The Importance of Smart Hiring in Scaling E-Commerce

Cody emphasizes the critical nature of hiring in business growth, referencing Dan Martell’s quote: “Build the people and the people build the business.” Yanni echoes this sentiment, stressing that strategic hiring is essential for scaling effectively.

Cody [04:12]: “Build the people and the people build the business.”
Yanni [04:44]: “People are everything. They are the core of your business...”

4. Strategies for First Hires: Freelancers, Agencies, or Full-Time Employees

The conversation shifts to advising first-time entrepreneurs on making initial hires. Yanni outlines a methodical approach:

• Assess Time Investment: Determine how current time is allocated across business activities.
• Identify Key Areas for Delegation: Focus on tasks that directly impact growth and profitability.
• Evaluate Hiring Options: Decide between freelancers, agencies, or full-time employees based on cost-benefit analysis.

Yanni [07:17]: “Take a stock take of how you are investing your time...”

5. Defining Roles: Mission, Outcomes, and Attributes

Yanni introduces a structured framework for defining roles:

• Mission: The overarching goal of the role.
• Outcomes: Specific achievements required to fulfill the mission.
• Attributes: Skills and traits necessary for success.

Using the example of a "Listing Image Specialist," Yanni demonstrates how to create clear job descriptions that emphasize accountability over mere task delegation.

Yanni [23:00]: “Define the mission, build outcomes, and outline the required attributes...”

6. Avoiding Common Hiring Pitfalls

Cody and Yanni discuss common mistakes in hiring, such as making large, expensive hires prematurely or hiring generalists who lack ownership. They advocate for focused, mission-driven hires that take full accountability for their roles.

Cody [15:40]: “Start smaller and chip away at things you’re already doing...”
Yanni [15:40]: “Slow and steady wins the race.”

7. Organizational Structure as Companies Scale

Yanni shares insights into structuring a growing company, highlighting the importance of clear reporting lines and accountability charts. He contrasts Multiply Me’s structure—comprising C-suite executives, senior leadership, and specialized teams—with Cody’s more streamlined setup.

Yanni [43:19]: “Reporting into me is all those marketing and sales roles...”
Cody [47:15]: “Middle management helps scale the organization...”

8. When to Use Multiply Me vs. Other Hiring Platforms

Yanni explains where Multiply Me Staffing fits in the hiring landscape. While platforms like Fiverr and Upwork are suitable for gig-based or freelance work, Multiply Me is ideal for businesses ready to invest in full-time talent to drive long-term growth.

Yanni [50:36]: “Multiply Me focuses on placing full-time talent into businesses that are ready for growth...”
Cody [54:17]: “Our ideal customers are those scaling from $100K to $1M and beyond...”

9. Yanni’s Insights and Recommendations

Yanni offers valuable advice for entrepreneurs:

• Value Your Time: Recognize that as the business owner, your time is your most valuable asset.
• Focus on Strengths: Delegating allows you to concentrate on areas where you add the most value.
• Structured Onboarding: Implement clear processes to ensure new hires integrate smoothly and contribute effectively.

Yanni [28:22]: “Understand where you add the value and what you can delegate...”
Cody [35:47]: “Replace yourself more and more, striving to have tasks handled by others...”

10. Rapid Fire Questions

In the final segment, Yanni shares personal preferences and reflections:

• Favorite Business Book: The Seven Habits of Highly Effective People by Stephen R. Covey
• One Thing He Wishes He Knew Before Starting: Importance of focus
• Worst Business Advice Received: “Do everything all at once. Just go for it.”
• Weekly Work Hours: Approximately 40 hours, with focused planning sessions
• How Others Would Describe Him: Exceptional at building relationships and creativity, but less meticulous with details and finance.

11. Conclusion

Cody and Yanni wrap up the episode by highlighting the importance of strategic hiring and structured organizational growth. Yanni invites listeners to connect via LinkedIn and explore Multiply Me’s resources for effective team building.

Yanni [62:36]: “Check out our websites for free resources...”

Key Takeaways

• Strategic Hiring: Focus on hiring individuals who add significant value and can take ownership of specific roles.
• Structured Role Definition: Clearly define the mission, outcomes, and attributes for each position to ensure accountability.
• Organizational Clarity: Develop clear reporting structures to facilitate effective management as the team grows.
• Choosing the Right Hiring Platform: Use Multiply Me Staffing for full-time talent needs once your business is ready to scale beyond freelance or gig-based work.

Notable Quotes

• Yanni [00:00]: “Finding ways to get yourself out of the nitty gritty, sort of dirty details..."
• Cody [04:12]: “Build the people and the people build the business.”
• Yanni [15:40]: “Slow and steady wins the race.”
• Yanni [23:00]: “Define the mission, build outcomes, and outline the required attributes...”
• Cody [35:47]: “Replace yourself more and more, striving to have tasks handled by others...”

Resources Mentioned

• Multiply Me Staffing Website: multiplymeii.com
• Scala Consultancy Website: weareascala.com
• Free Miro Board Template: Available in the show notes

For more insights and resources on building and scaling your e-commerce business, visit the Built Online Podcast website or follow EverBee on their various social platforms.