Idea to Execution summary

The authors were well aware of the flaws of other virtual assistant companies, and knew that their start-up could address such problems more effectively.

One of the major limitations of the virtual assistant business model was that it offered either on-demand assistants or long-term dedicated assistants.

If you think a start-up can’t launch without sophisticated, expensive infrastructure, think again. A new business can be run easily with software tools that are not only free but also easy to use.

To manage client tasks, Nick used a free management program called Trello. Trello’s structure is straightforward. It offers boards for specific projects; lists that give the status of a project; and cards that show which tasks still need to be completed.

Applying for jobs is a grueling process. But hiring employees isn’t a walk in the park either – in fact, hiring can be one of the most energy-consuming tasks for a young company.

So when you begin to look for new team members to grow your start-up, you need to have a thoughtful, efficient strategy in place.

Networking is essential to moving your company to the next level. You can’t just make a great product; you have to get out there and show it off.

In November 2015, Ari and Nick were invited to speak at a Genius Network event that Ari had participated in a few years earlier. Joe Polish’s Genius Network brings together industry leaders, well-known authors and high-powered entrepreneurs.

When you’re nurturing a project that you feel is your “baby,” it’s not always easy to hear negative feedback. But when you do, it’s vital to act decisively to fix the issues, before they bring down your company.

By January 2016, Less Doing was thriving, but some customers were complaining that the onboarding process wasn’t smooth enough.

By the time your business is going strong, you will have acquired many skills and a lot of insider knowledge. You’ll then have the opportunity to create a secondary source of income through teaching other entrepreneurs what you’ve learned along the way.

To gauge the potential of training as a new offering, Less Doing advertised on Facebook that it would sponsor a business boot camp.

Building a successful company requires an entrepreneur to constantly optimize operations, such as considering which tasks can be delegated or even outsourced.

Many managers try to keep a tight grip on a business as it grows, but sometimes it’s smarter to let go and step back from the day to day.

Once you’ve solidified the processes that keep your company running, it’s time to start working with your performance numbers.

When Ari and Nick took a hard look at their company’s numbers, they realized the next task was to optimize the company’s “churn rate.” This industry term describes the percentage of clients who drop a company’s services or product after a given period, such as within three months.