Dan Martell - May 19, 2023


How all the people we admire use the BuyBack Principle


Episode Stats


Length

1 minute

Words per minute

237.84145

Word count

238

Sentence count

10


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about the idea of the 1st 10% rule and how it can be applied to building a startup. I talk a little bit about how Steve Jobs and Johnny Ives and Gary Vee are examples of this and how you can apply it in your own company.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 I watch Gary Vee do this.
00:00:01.280 I watch a lot of people that we admire
00:00:03.300 build these massive companies
00:00:05.000 that you would argue the product is innovation,
00:00:07.820 is creativity.
00:00:09.140 And the 108010 rule is this,
00:00:10.660 is I'm gonna spend the first 10% of a project
00:00:13.260 with the team to really talk about
00:00:15.760 what are we trying to do?
00:00:16.880 What is the story arc?
00:00:18.020 What is the narrative structure?
00:00:19.240 What is the resources we have access to?
00:00:21.700 What do we think it should look like?
00:00:23.560 And is Steve Jobs leaving his office
00:00:25.020 and going with Johnny Ives in the design studio
00:00:27.000 and just saying to Johnny, like,
00:00:28.520 I think we can get a hard drive that's small enough
00:00:30.400 to fit in the back of our pockets.
00:00:31.620 And Johnny going, I don't think those exist.
00:00:33.440 And he's like, go see, right?
00:00:35.020 It's that first 10%.
00:00:36.160 Johnny would take these crazy requests or ideas
00:00:38.240 and then work with his team.
00:00:39.680 And then they would eventually get to a place
00:00:41.520 where they had these finished products,
00:00:42.600 but Steve would still come in at the end,
00:00:44.120 that last 10% and polish it
00:00:46.160 so that nothing ever left the factory floor
00:00:48.980 without his stamp on it.
00:00:51.480 So that's what I'm saying to people.
00:00:52.480 I'm not saying you delegate and abdicate
00:00:54.460 and just be like, I hope it works out.
00:00:56.160 it's just take that 80% of the heavy lift in,
00:00:59.480 give it to somebody.