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Overview Transcript Case Study Video

Hire People Who Have Done What You Want To Do. This is a spin on the old adage, "Don't try to reinvent the wheel."

Topic for Discussion: Why is this so hard to do?

Answer: Most of us start out with very little money and use our own blood, sweat and tears to build the business. By the time we can afford to hire top talent, we have turned ourselves into top talent.

Though, in a way, this was the case with Robert Redford, he obviously recognized that he couldn't do everything. Yet, when he bought the Provo site, he didn't have much cash so he slowly developed the film festival and the lodge. He used his name and personal energy to establish those enterprises so when it seemed as if the time was right to extend the Sundance brand, he had the cash but not the time to find somebody like Harry.

Mr. Redford found Harry by telling his own attorney that he was interested in finding someone with catalog experience to develop one to sell the same products through the mail that were being sold in the gift shop at the lodge.

Lucky for Mr. Redford that his attorney knew about the success Harry Rosenthal had created with his catalog, Right Start. It just makes you want to sing, "It's a small world after all." This is a great example of how important it is that we tell our goals to others who might know how to help us achieve them. This is networking at its finest. Great networkers take time to make friends in all areas then they are not shy about asking for help. Also, they are happy to offer help when asked.

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Key Ideas of this episode Small Business School
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1. Put Your Own Skin In The Game
2. Admit What You Don't Know
3. Hire People Who Have Done What You Want To Do
4. Live, Eat, Sleep The Business
5. Use A Famous Face
6. Attach Yourself To A Cause
7. Be Thoroughly Authentic
8. Build A Brand
9. Buy As Much Technology As You Can Afford
10. Sell A Lifestyle, Not A Product
11. Understand The Competition
12. Anticipate Poor Cashflow
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13. Expect To Fail  
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(continued from other column)

In addition to not having enough money to attract top talent, some business owners might not think people like Harry Rosenthal would come to work for us. Why would a brilliant Yale graduate leave his own dream to work on yours? We say, if you have a great idea, some cash and you are able to tell your story in a compelling way, you can probably recruit anyone you choose to go after.

You think about it: Are you happy with your leadership team? Where is the weak link? Who could you hire who could teach and inspire you?

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