#208 with Steph Smith - Why You Need a Chief Automation Officer
About This Episode
Shaan Puri and guest Steph Smith explore strategies for identifying business opportunities in 'seas of sameness' and untapped financial markets like Flexible Spending Accounts. They brainstorm several ventures, including the concept of a Chief Automation Officer, luxury corporate swag agencies, and color-changing consumer products.
Episode Description
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
Key Takeaways
Identify 'seas of sameness' in retail aisles to create modern, high-end brands that focus on customer benefits rather than boring technical ingredients.
Target the $20 billion pool of Flexible Spending Account (FSA) money by creating products or services that help consumers spend their 'use it or lose it' pre-tax dollars before annual deadlines.
Implement an 'Automation Audit' within companies where a specialist shadows employees to identify and eliminate manual, repetitive tasks using no-code tools and scripts.
Business Ideas Mentioned
FSA Automated Spending Subscription Box
E-commerce
Limited Edition Luxury Corporate Swag
Agency
Outsourced Chief Automation Officer Service
AI & Automation
Fantasy Sports for Stock Trading
SaaS
Instagramable Color-Changing Tea Brand
E-commerce