When you have an idea and if you are like most entrepreneurs, you are eager to start and to execute whatever you have in your mind at the time. Sitting down and writing a system or drawing a business process model before you start is probably considered abnormal for most. It is usually something you are pressed for its importance once you are a bit further into your entrepreneurial journey.
Mike Rhodes presents the Hourglass framework business model for you.
Video transcript:
This then is the Hourglass framework. This is how you implement Project Hourglass into your business. 10:80:10 at the top. I think you’ve got space to write on the next page. You can do little pictures if you like, like me, or you can write the words, it’s up to you.10:80:10, and I’ll go into each of these in more detail.
Across the top, is the task filter. It’s great to know that I need to outsource more. It’s great to know that I need to hire these people, but what on earth am I going to give them? Coaching and mentoring is a huge part of your role as a business leader to coach and mentor. It’s not to correct what your team is doing.
In the middle, we’ve got automation. Checklists and guidelines are down the bottom left; talent search in here and effortless output. That is otherwise known as loving what you do.
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