Understanding When to Take Risks for Your Company

Erik sometimes, like all executives inadvertently do, frustrates his team here at Array Digital. In episode 232 of Journey to $100 Million, Erik talks about a recent situation where he was supercharged up in a recent management meeting about hiring two new employees. When talking about these hires, he stated he would do it at any cost, even if we had to borrow money. What happened was the team found candidates, then Erik got nervous. Erik came to the realization that it was frustrating for his team when he asks them to do something in a timely manner, then asks them to stop and wait. Not only that, but it frustrates Erik as well due to the fact he has a vision of $100 million dollars, and that is not going to be easy, especially without an abundance of talented team members. We must hire people that can execute what we are selling as well as have people that are selling - without both, we are not going to hit our goal. But, there also needs to be a very equal balance between the sales and operations team, because we need to bring in work, but also have the resources to do the work as well. Currently, we have a small team limited on bandwidth. We need more people, and without that, growth will not come as quickly. Erik very aggressively wants to grow and hire but is also very cautious and prudent so that the company does not get hurt. Just because Erik wants something, does not mean he will give it to himself. If we cannot afford to bring on new hires, no matter how much Erik wants it, it will just have to wait, and we must come up with a plan. You have to take risks in order to grow, but you do not want to take mindless risks that may hurt your company. The key is to calculate your risks, know what you're getting yourself into, and when you’re ready - execute on your plan! — Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups. — Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups. — For more information on the show, and to check out past episodes, go to journeyto100million.com!