💰 Building an Empire: The Role of Delegation in Entrepreneurship

🍀 Entrepreneurship is Delegation

Hey there, Manav here!

✨ Every week, I'll be sharing my thoughts on productivity, life lessons, and helpful tips.

This weekly newsletter is my way of reflecting on life and keeping track of the fascinating things I discover or come to understand.

Building an Empire: Entrepreneurship is Delegation

Most A-players know that they have very limited output hours and they are constantly looking to increase their leverage and increase in ROI.

If you’re a business owner, you’ve probably thought about hiring a virtual assistant or delegating and outsourcing some of your repetitive business operations.

‍‍Well, I have compiled a list of tasks you can outsource:

• Most entrepreneurs fall into the trap of being trapped in their email boxes for too long.

• VA will check notifications on all social platforms so you don’t get scatter-brained during your peak focus hours

• Manage and create all kinds of appointments: doctor, hotel, flights, special occasion dinners, date night, etc.

• Manage your calendar and give you a summary of your weekly and daily events

• Automate the tasks you dread, like renewing your car insurance.

• Random tasks: Just send them a voice memo and VA will take care of it. An example could be something like updating your personal website with some info.

• Delegate administrative tasks, data entry, and research to free up valuable time for what you do best.

• Outsource live chat, email, and phone inquiries, order processing, and complaint management for round-the-clock customer assistance.

• Outsource high-quality content creation, including blog posts, articles, and social media updates. Create marketing and ad campaigns, Outsource content calendar management, and posting.

Here are tasks you can outsource for your company:

Accounting and Payroll

• Outsource tasks like bookkeeping, tax preparation, and payroll processing. Outsource record management, expense management, and tax compliance.

Software Development

• Leverage offshore talent for web/software development, application maintenance, server management, and technical troubleshooting.

Design & Editing Services

• Creating visually stunning marketing materials, logos, and multimedia content.

Digital Marketing Service

• Drive online success by outsourcing tasks such as SEO, PPC advertising, email marketing, and social media management.

To help founders and startups, I started a new service called NextScout. At NextScout we connect executives with highly skilled overseas talent, a talent that costs 75% less than a US or UK equivalent.

Unlike other recruitment services, you only pay NextScout when you hire a remote worker who meets your standards — which, thanks to their rigorous candidate selection process, is a near-certainty.

So if you want to reduce your labor cost, at NextScout we can help. Just fill out this short form, and we’ll take care of the rest.

How Sony Acquired the Spider-Man Rights from Marvel in the Deal of the Century 🧵

Back in the late 90s, Marvel was struggling financially and was eager to license some of its popular comic book characters for film adaptations.

At the time, Marvel was focused on its core comic book and merchandise business.

In 1999, Sony Pictures swooped in and acquired the rights to Spider-Man, one of Marvel's most iconic superheroes for the incredibly low price of just $10 million per movie, plus 5% of the box office gross and joint revenue from toys.

The deal gave Sony the exclusive rights to produce and distribute Spider-Man films globally, as well as merchandising rights.

This turned out to be an absolute steal for Sony and a deal of the century.

Let me explain.

When the first Spider-Man film starring Tobey Maguire was released in 2002, it grossed over $800 million worldwide.

Then Sony went on to produce two more films with Maguire and later rebooted the franchise twice with Andrew Garfield and Tom Holland, with global box office receipts now topping $6 billion.

After the Spider-Man movies became huge hits, Marvel realized it had made a mistake selling the rights.

The movies boosted sales of Spider-Man comics and toys, which Marvel could have profited more from if they had kept the rights.

Marvel tried to get the rights back from Sony but Sony refused. Why would they give up their cash cow?

To retain the rights, the original contract stipulated that Sony must produce a new Spider-Man film every 5 years and 9 months.

This explains the multiple reboots (which many people didn't care for), as Sony sought to churn out as many movies as possible.

For Marvel, the deal provided a much-needed influx of cash during a difficult period for the company.

It also kickstarted the era of Marvel superhero films which would eventually lead to the creation of the hugely successful Marvel Cinematic Universe.

But it’s clear who was the winner.

Business idea of the week:

Problem: Consumers waste so much time looking for a movie/tv show to watch.

Solution: Create a content aggregator with all movies and tv shows that save consumers time lurking and scrolling to find the ideal movie to watch.

They fill out a short survey and we send them 2-3 movies to watch every week.

Useful Links:

• Eyecandy: Extensive library for filmmakers

• Marketing Examples: Case Studies of individual marketing campaigns

• Color Generator for your designs

• Zellerfield: 3D printed shoes

• Earthclassmail: You can go complete remote and they will scan your mail and send it to you

• The Adventurists: Take part in an ultimate adventure across the globe

• Wolfgang Puck Oscar Worthy Dishes

• ChatGPT Biggest Update: Custom Instructions

MEMES 🤣

clubhouse founders turning down a $4 billion acquisition from twitter

— mads campbell (@martyrdison)
Jan 5, 2022