Building a Global Service Business | Startup Hustle podcast - Listen or read transcript on Metacast

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Episode description

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Episode description

In this episode, Matt Watson and Ian Myers discuss the topic of hiring global talent. Ian shares his experience of starting a company in Sri Lanka and leveraging the highly skilled workforce there. They also discuss the challenges of scaling service-based businesses and the importance of upskilling and mentoring employees. Ian highlights the benefits of hiring talent from different countries and the opportunities it creates for both the employees and the local economies. They also touch on the challenges of running an international business and dealing with local labor laws and government regulations.

In this conversation, Ian Myers, the founder and CEO of Oceans, and Matt Watson, the founder and CEO of Full Scale, discuss the challenges and strategies involved in running a service-based business. They cover topics such as hiring and firing employees, managing client relationships, and the importance of reputation and referrals. They also emphasize the need for constant evaluation and improvement in recruiting and training processes. Overall, the conversation provides valuable insights into the unique dynamics and considerations of service businesses.

Takeaways
Hiring global talent can provide access to highly skilled professionals from different countries, creating opportunities for both employees and local economies.
Service-based businesses face unique challenges in scaling, but scalable services can be a valuable and profitable business model.
Upskilling and mentoring employees is crucial for their career growth and the success of the company.
Running an international business comes with its own set of challenges, including dealing with local labor laws and government regulations. Running a service-based business involves managing the challenges and dynamics of working with people.
Recruiting and hiring top talent is crucial for the success of a service business.
Maintaining a good reputation and strong client relationships is essential.
Constant evaluation and improvement are necessary in the recruiting and training processes.
Service businesses can be profitable and offer a more predictable income compared to other types of businesses.

This episode is sponsored by Full Scale:
https://fullscale.io/

Sound Bites
"There's talent everywhere."
"It's weird to make money."
"Scalable services businesses are rare."
"We continue to hire 30 to 40 people a month"
"That's totally normal"
"The Sri Lankan workforce is much more concerned with 401k health insurance, all the benefits"

Chapters
00:00 Introduction to Hiring Global Talent
02:26 The Potential of Global Talent
05:57 Challenges of Scaling Service-Based Businesses
09:57 Hiring American Talent vs. Global Talent
14:12 Investing in Upskilling and Mentoring
19:25 Navigating the Complexities of International Business
25:03 Hiring and Scaling in a Service Business
28:48 The Importance of Benefits and Work Culture in Sri Lanka
33:34 The Key to Success: Hiring and Evaluating Talent
40:05 Firing Clients and Protecting Employees