Episode
#208 with Steph Smith - Why You Need a Chief Automation Officer
58:54
Published: Wed Aug 11 2021
Description
In this episode Shaan (@ShaanVP) is joined by Steph Smith (@stephsmithio) for an idea packed episode. They start off talking about opportunities around spending your FSA dollars and on swag packs. They transition to talk about the role of automation at companies and Steph shares how she would go about automating repetitive parts of her role. The end the episode talking about Steph's new course, approaches to building a company, and Fidelity allowing trading accounts for teenagers. --------- * Want Steph's course? You can find it at https://doingtimeright.com * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (1:06) Intro * (2:20) Ideas around spending your FSA dollars * (15:58) Ideas around giving out awesome swag * (21:52) The role of chief automation officer * (27:37) Building a company around automation * (35:03) Giving away free alcohol as marketing * (41:22) How Steph invests her time & money * (43:50) Steph's new course - doingtimeright.com * (47:44) Approaches to building a company * (51:39) Fidelity allowing teenagers on the platform * (56:52) How to find Steph online
Chapters
Entrepreneur Sean Puri offers to invest and advise anyone skilled in SEO, email list building, and D2C customer acquisition on a potential business-in-a-box opportunity.
00:00 - 01:00 (01:00)
Summary
Entrepreneur Sean Puri offers to invest and advise anyone skilled in SEO, email list building, and D2C customer acquisition on a potential business-in-a-box opportunity. He encourages interested people to reach out to him.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The importance of labels on products relies on the benefit instead of the name, such as putting immunity or better sleep instead of vitamin C, while FSA store sells a range of products by Welly, Icy Hot, and contact solution.
01:00 - 08:10 (07:10)
Summary
The importance of labels on products relies on the benefit instead of the name, such as putting immunity or better sleep instead of vitamin C, while FSA store sells a range of products by Welly, Icy Hot, and contact solution. Welly plans to introduce fun-looking Band-Aids that transform cuts and bruises into badges of honor to tell a story.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The podcast host shares various ideas for starting a business, including launching a tea brand called Butterfly PT and partnering with popular brands like KFC or Duraflame for collaborative products.
08:10 - 11:49 (03:39)
Summary
The podcast host shares various ideas for starting a business, including launching a tea brand called Butterfly PT and partnering with popular brands like KFC or Duraflame for collaborative products.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
A potential business idea is to create a subscription box filled with FSA-eligible products such as float tanks and red light therapy devices, and charge a middleman fee for curating and delivering the boxes.
11:49 - 15:11 (03:21)
Summary
A potential business idea is to create a subscription box filled with FSA-eligible products such as float tanks and red light therapy devices, and charge a middleman fee for curating and delivering the boxes.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The speaker suggests that companies should focus on creating better swag items for giveaways and conferences, including gaming consoles and unique controllers, rather than items that are easily forgotten or go unused.
15:11 - 19:33 (04:21)
Summary
The speaker suggests that companies should focus on creating better swag items for giveaways and conferences, including gaming consoles and unique controllers, rather than items that are easily forgotten or go unused.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
This episode discusses the importance of taste in creating appealing corporate swag and marketing strategies to attract more customers and boost sales.
19:33 - 26:28 (06:54)
Summary
This episode discusses the importance of taste in creating appealing corporate swag and marketing strategies to attract more customers and boost sales. It emphasizes the need for a good marketing team or ad agency to enhance the overall appeal and brand value of a company's products.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
This podcast discusses a course that teaches effective ways to implement automation using UiPath, no code tools, and a little bit of code.
26:28 - 30:41 (04:12)
Summary
This podcast discusses a course that teaches effective ways to implement automation using UiPath, no code tools, and a little bit of code. The episode also briefly mentions a sponsor, the Side Hustle Pro podcast.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The use of AI-based tools like Microsoft's Viva Insights is a good starting point for managing remote work, though it may not always catch nuances that only human intervention can, such as shadowing an employee throughout a workday to fully grasp his/her process sessions.
30:41 - 33:32 (02:50)
Summary
The use of AI-based tools like Microsoft's Viva Insights is a good starting point for managing remote work, though it may not always catch nuances that only human intervention can, such as shadowing an employee throughout a workday to fully grasp his/her process sessions.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The inefficiency and leaks in one's own work process can be revealed when attempting to script the process for outsourcing.
33:32 - 38:20 (04:48)
Summary
The inefficiency and leaks in one's own work process can be revealed when attempting to script the process for outsourcing. By examining the work process in this way, changes can be made to improve efficiency and optimize results.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
Build a community first before launching a product even during a lag time while waiting for the product to be launched.
38:20 - 41:10 (02:49)
Summary
Build a community first before launching a product even during a lag time while waiting for the product to be launched. Create an experience similar to that of the product to generate a customer list for an ideal customer target.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The strategy of finding large corporations that are willing to advertise their products to consumers to make a profit out of it is almost like doing arbitrage.
41:10 - 46:34 (05:23)
Summary
The strategy of finding large corporations that are willing to advertise their products to consumers to make a profit out of it is almost like doing arbitrage. These "random detours" are part of the journey of creating a successful company.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The podcast discusses the importance of going all in when building a successful business and avoiding hybrid approaches or compromises.
46:34 - 52:30 (05:56)
Summary
The podcast discusses the importance of going all in when building a successful business and avoiding hybrid approaches or compromises. They advise not building productivity tools or things that seem like productivity tools, but actually are productivity tools.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
In a world where people use promotions to acquire users, creating an emotional connection with the parents or users to a product, like Robinhood, can get a large and faithful consumer base, making promotions and gimmicks unnecessary.
52:30 - 57:39 (05:08)
Summary
In a world where people use promotions to acquire users, creating an emotional connection with the parents or users to a product, like Robinhood, can get a large and faithful consumer base, making promotions and gimmicks unnecessary.
Episode#208 with Steph Smith - Why You Need a Chief Automation Officer
PodcastMy First Million
The speaker recommends a free online course for time management available at doingtime.com.
57:39 - 58:43 (01:04)
Summary
The speaker recommends a free online course for time management available at doingtime.com. Trend followers can visit trends.co for more information.