Ajay Prasad is founder of GMR Transcription. They have over 9000 clients including the FBI, ATT, and McDonalds. They provide transcription and translation services and run their 7 figure business with 3 employees and over 250 independent contractors.
Here’s a glimpse of what you’ll learn:
- [0:36] Jeremy’s introduction of Ajay Prasad.
- [1:00] Ajay’s background and what influenced him to move into business.
- [2:28] Lessons learned from his grandfather.
- [4:32] Marketing lessons from working with the big companies.
- [6:39] The things Ajay does to market clients in a way they can pay $1 and get $20 in return.
- [14:01] The power of testimonials and how to use them to build reputation.
- [15:37] The transition from Fortune 100 company to working for himself, first as a consultant (which he didn’t like), then building a business.
- [24:19] Why processes are so powerful and the processes Ajay put in place in his small business.
- [29:06] The mistakes Ajay made when hiring people and what he does now.
- [32:57] How Ajay manages his “onboarding” process for new employees.
- [37:17] Why a transcription business?
- [42:11] Cracking the SEO code to gain traction as a market leader.
- [44:51] How Adwords impacts Google SEO rankings: You’ll be surprised.
- [45:39] The types of clients Ajay accepts in his marketing business.
- [49:27] The biggest milestones Ajay watches for as the business is operating.
- [52:23] Ajay’s thoughts about reaching his next level in business.
- [53:30] The hardest part of Ajay’s job (he runs two companies!).
- [56:04] Software Ajay uses to maximize his businesses.
- [57:43] How to connect with Ajay.
- [58:56] The lowest point Ajay experienced in building his business, and how he pushed through.
- [1:01:17] The highest point of Ajay’s business journey.
- [1:03:30] The first steps to begin moving your business forward.
In this episode…
The path from corporate employee to self employed business owner is not an easy one, no matter how successful you’ve been in the corporate setting. Ajay Prasad has walked that path and has a great deal of insight into the things to watch out for as you navigate that road. From working for large companies to finally creating and running GMR Transcription, Ajay has been careful to pay attention to the mistakes at each step and figure out how to fix them as he goes. The conversation you’ll hear on this episode has so many details and insights, you’ll be amazed at the generosity and freedom with which Ajay shares his expertise.
But that’s who Ajay is… a characteristic he inherited from his grandfather, a very successful man in India (where Ajay grew up), and one of the key figures he drew inspiration from as he got his bearings to head into adulthood. Ajay shares that story as a backdrop for his business success as well.
Leaving corporate to do his own thing
The first step Ajay took when he left corporate was to become a freelance consultant. The money was good but he didn’t care for the role simply because of the lack of control he had on whether or not the work or advice he was giving was actually implemented. From there he moved to small business consulting, enjoyed that much more, but still wasn’t satisfied. That’s the point when he began looking for a business opportunity where he could create a business for himself that utilized his skills and knowledge.
GMR Transcriptions was the result and it is now a huge success. Much of it is because of the way Ajay has been able to create and manage systems to streamline workflows, increase productivity, and maximize profits. In this conversation Jeremy into the details with Ajay about what he learned working in the corporate environment, how he navigated the transition into his own business, how he has systematized the business and made it successful through great quality and customer service.
The power of systems and great management
It will sound amazing, but Ajay now spends maybe 30 minutes per day working on the transcription business even though he has more than 100 people working for the business. Everything else is automated and delegated to teams of VAs and contractors. If you need help figuring out automation and systems, Ajay’s got tons to share that will be of benefit to you.
Ajay’s first business (GMR Transcriptions) is so successful, he’s now begun his own marketing firm, putting into practice for others the same things he did to get his own businesses positioned powerfully in the market and built to great success.
As always, you’re going to get a ton of value from this conversation with Ajay, so be sure you grab a drink, a notepad, and clear your schedule. The stuff you learn on this episode could revolutionize your business. And that’s not hype.
Resources Mentioned on this episode
- GMR Web Team
- GMR Transcription – 714-731-9000 (listen for a tip to get around the screener)
- Survey Monkey
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