Get The Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to My Newsletter: https://bit.ly/3W2tjp2 The more money you make, the less you should have to work… But that’s ONLY if you know these 12 laws of running a stress free business. I know it’s possible because I went from hundred hour weeks and burnout in my 20s, to today running a hundred million dollar empire working less than 40 hours a week. And you don’t need a 160 IQ or spend millions of dollars on consultants to implement these. In this video I share how to run a million dollar business without going crazy. IG: @danmartell X: @danmartell
Chapter 1: What are the 12 laws of running a stress-free business?
The more money you make, the less you should have to work. That's only if you know these 12 laws of running a stress-free business. I know it's possible because I went from 100-hour work weeks and burnout in my 20s to today running a $100 million empire working less than 40 hours a week. And you don't need 160 IQ or spend millions of dollars on consultants to implement these.
So without further explaining it, this is how to run a million-dollar business without going crazy. Welcome to the Martell Method. I went from rehab at 17 to building a $100 million empire and being a Wall Street Journal bestselling author. In this podcast, I'll show you exactly how to build a life and business you don't grow to hate.
And make sure you don't miss anything by subscribing to my newsletter at martellmethod.com. Starting with law number one, you create the rules. When I started my first successful business, I almost went bankrupt in the first three months because I didn't understand a concept called cashflow.
And I remember talking to one of my mentors, explained to him what was going on in my business, and he just laughed at me. He goes, why are you doing that? And I said, what?
He goes, why are customers only paying you like 60 days later and then the money gets locked up in your bank account because you're a new business and essentially you don't have the money to pay for your growth or your employees? He says, why don't you make the customers pay 50% upfront? Well, I didn't know I could.
It turns out you get to create the terms of engagement with your customers and your business so that you can build the business the way you want to. The way I like to think about it, it's called the infinite game. Your business, your rules. You need to design the game so that you can play it forever without pain. So for example, I won't ever finance a customer's growth.
If you want my product or services, then you pay upfront so that I can invest in the business to deliver on my promise. If I don't work well with a client, Then I don't work with them. I fire people all the time. Some people accidentally come into my world and I realize quickly their philosophy on business and mine are completely different. I don't put up with it.
Not because I'm being rude, not because I'm angry, not because I'm upset, because I think you get to choose who you want to do business with. And that energy for your team, for your bank account can be negative. If you don't want to do custom work for people, you're allowed to say no.
Just because you do landscaping, for example, or an HVAC and somebody comes to you with something above and beyond, you can say no. You can refer them to somebody else. You can choose simplicity and scale over complexity and potentially fail. The key is, is that if you have a client and you keep making exceptions, you essentially taught them how to treat you.
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Chapter 2: How can you create the rules for your business?
Which brings us to law number five, teach, don't tell. When I was 20, I would constantly be running around my office telling people what to do. And honestly, it became exhausting because it was like spinning plates. As soon as I didn't tell somebody what to do, they didn't do anything and then I got frustrated with them. And then I learned a completely different way.
And that is all about developing the people, teaching them principles so they can make decisions and make movement on their own. Here's a principle that'll really help you integrate this. An answer solves today's puzzle, a principle solves tomorrow. Where most people go wrong because they've never been taught is they do what's called transactional leadership, which they tell the person what to do.
They check that it got done. They tell them what to do next. Problem with that is you then become a bottleneck if you don't shut for work because they don't know what to do. A better strategy is do transformational leadership. That's where you show up and you talk about the outcome of their work, their project. You tell them how you're going to measure their progress or success.
And then you coach them if they're not on pace to where you need them to with principles that help them grow. Now, to make that really easy on a weekly basis, you want to be doing leadership training. I know so many entrepreneurs that are frustrated at their team and they got this list of things that their team's not doing. And I go, show me in your calendar where you're teaching them.
Where are you teaching them how to be more productive, how to communicate clear, how to manage their inbox better, how to be making better decisions? Because these are all things entrepreneurs had to learn, but unfortunately they feel like, oh, the person should just know this stuff. Every week, schedule time to develop your team.
I think it's one of the most powerful habits to get the most out of your team. But you can't expect your team to hit an outcome if you don't give them a framework to move fast. Which brings us to law number six, 50 to fix it. This sounds crazy, but most people do it completely wrong. When you have somebody that you delegate something, you have to empower them to solve the problem.
Recently, I had a team member that kind of bottlenecked because they were sending out a bunch of swag and things to our community. And I empower them by saying, if it costs less than $50 for you to fix the problem, just fix it and just let your leader know after the fact. So
So they went out, bought a shipping printer and got that bottleneck solved without anybody being involved because nobody needs to give you permission to solve a problem that's less than 50 bucks. And that's the power of 50 to fix it because it pushes the decision down to the person has the most information to solve the problem.
See, a bottleneck is called the bottleneck because it's at the top and you're the person at the top. So build the structure. Anyone on my team can spend $50 to fix a problem as long as they tell their boss afterwards so they can understand if there's a system issue, but it empowers people to solve problems. allow them to do it themselves. Now I elevate this without permission.
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