Daily Brief

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Acting & Feeling Your Age/Experience

I don’t feel much different than I did when I was a teenager. Kids don’t realize that in 20 years they’re not going to feel much different. And today, a 40-year-old or 60-year-old doesn’t look remotely like they did when I was a kid. Google pictures of the 1960’s compared to a picture of today. You’ll notice the differences. 

Is it culture? Modern health practices? Modern medicine? All of that, and more? Yes. 

I grew up hearing older folks tell us, as kids, to act our age. Of course, when you’re 16 you feel and think you’re acting like a 16-year-old. Honestly, you likely are acting your age. The older people want you to act older, which means they want you to act like you’ve got way more experience, wisdom, and thoughtfulness than exists in your life. 

Fake is fun, but it’s fatal.

I’m mature. I’m not old. I’m at my best right now…at this moment. 

I’ve got decades of real-world operating businesses experience and know-how, the stuff you can’t learn any other way than by doing it. 

I’ve got decades of wisdom that I didn’t have earlier, but I’m still driven by the curiosity of the things I know I need to still learn.

I’m not alone. Draw a timeline that can represent a lifetime. Make marks at 18, 24, 30, 36…and on. Every mark, every age, and experience brings value. My current value is what it is. But it’s not like my value just kicked in. 

Age and experience are realities that too many people get messed up on. Young people want to be older. Older people want to be younger. Both sometimes want to act the opposite of what they are. Or where they are. 

It’s why there’s so much fakery. We wrongly think we can fool people. Forget it. Even if you do fool people, remember you’ve only fooled the fools. 

Owning your present reality isn’t a cop-out. It doesn’t mean you don’t grow, feed your curiosities, or devote yourself fully to the mountain climb! Fact is, that’s exactly what it does mean. You do all that and more. You create, innovate, disrupt and learn — all aimed at your own life first. 

What you’ve figured out is important. What you haven’t figured out may be more important. At the heart of it all is figuring out YOU. I’m focusing on this as I return from being dormant for about a month because I continue to see people posing as something they’re genuinely not. From executives seeking new opportunities, to leaders who are finding it difficult to mimic somebody they admire, to business owners who feel the urge to jump on every latest technical tactic or strategy, even the ones they’ve not spent enough time to fully understand. It’s a big game of people grasping at straws. And it makes no sense to me.

Plus, there’s a ton of people looking for positive reinforcement for every dumb idea they’ve got. The lack of candor and accountability is the death of too many already. 

So people puff up to inflate themselves, like puffer fish trying to scare off predators. Pretending to be better, bigger, more sophisticated, more successful than they really are. It’s an addiction that will end poorly, but in the short-term, it feels great. We’re deluded. Not thinking clearly.

Reality is the recipe, the counter punch needed. 

Feeling good in the short-term produces long-term pain and guilt. Scan the Wall Street Journal, randomly looking at companies reporting performance. If the results are positive, you’ll hear company officials talk a certain way. But if the results are lackluster, or poor, you’ll get complex language aimed at avoiding responsibility and accountability. The blame game is popular when you want to avoid reality. 

What does this mean for you and your business? Or your leadership?

Do what is necessary to get a clear mind. Discover the truth.

We usually know when our vision isn’t quite right because we know what seeing clearly looks like. But it’s possible to ignore the signs and over time we don’t realize just how blind we are. Enter the eye exam or test. It’s a way for us to know – not think, but to really know – that our vision isn’t what it should be. We’re not seeing things clearly. 

Our business ownership and leadership need that kind of scrutiny so we know we’re seeing things as they are, not as we hope them to be. You can take a number of actions to help. I’m going to suggest you start communicating with your people. Candor and listening are key. Be frank in communicating what you’re hoping to accomplish – a quest to discover the truth. You want the truth of what’s right, what’s wrong, what needs to be fixed, what needs to be enhanced, what needs to stop…you want the most open dialogue you can foster. That’s going to be hard if you’ve never done it before because people are going to be mistrustful. You’re going to have to prove to everybody how serious you are. 

Ask questions, then listen. Don’t prime the pump for the answers you want. You want the truth. You want and need reality. Your leadership, your ownership, and your business will benefit most from the truth, not some fake reality you all wish was true. 

Changing the culture to foster truth takes time. Be patient.

This can’t be a one-off. You need to make this how you roll all the time. Once you sense people are trusting enough to divulge the truth, praise it. Act on it. But be patient knowing that if this is going to stick, you’ll have to keep pushing. 

Insist on the truth. Show people that the quicker they get to the truth, the better for them, and the entire operation. While speed matters, and I’m fanatical about it when it comes to execution, you have to be patient knowing that if this is brand new inside your business…it’s going to take time for people to continue to embrace this new way.

Challenge your leadership team by not tolerating anything other than brutal honesty. Not brutal in the sense that it’s filled with judgment and finger-pointing. Brutal in the sense that it’s fast and respectfully unfiltered. The word is “thoughtful.” Do not tolerate anything other than thoughtful honesty and discussion about the truth – how things really are.

Disagreement is okay. In fact, it’s good. Leverage it.

Understand that somebody’s truth is somebody else’s fakery. We don’t all see things the same way. We all make judgments. It’s necessary so we can do anything. Discernment, dot-connecting – it’s all part of what we do every day. All of us. 

But sometimes we get it wrong. Convinced we had it right until somebody or something shows us we were wrong…we were convinced we were right. How you overcome that? 

By sharing experiences and insights.

When somebody reveals a truth, make sure everybody expresses why they believe that to be true. Push and make people defend it. Let others push you to defend what you believe to be true. There has to be a standard by which you’re going to measure truth. And a way for you to get to it. This is it. 

Get close to the source. A common problem with leadership is a poor perspective. Their viewpoint is from an angle far removed from the work. Yes, you need that wide-angle view that leadership provides, but you also need to zoom in and get up close to the problem. It’s easy to discount the feedback – the experiences and insights – of the front line workers because leaders tend to look down on them (BIG mistake) and think they know more. The employees doing the work have a viewpoint you must hear! Listen without judgment. Reward candor and honesty. Again, just make sure everybody knows their experiences and insights are valuable but open to honesty challenging. Don’t get defensive, but people have to know excuse-making and griping aren’t the objectives – getting to the truth is what matters. You want to make things better and that can best be done when you know what the problems are. Liken it to a doctor’s visit where you reveal the symptoms, but the doctor has to perform tests to make sure you both know what you’re up against.

If your end of the boat sinks, so does mine.

This is very important. It’s not a zero-sum game. It’s mutually beneficial or mutually detrimental. The company can grow, and the individual inside the organization can grow, too. Expanding the pie, that’s the goal. Impress your company with that goal. Don’t just talk the talk, do it. Daily.

Pronouns matter. Lose “I” and “me” from your vocabulary. Yes, I know you own the joint. So does everybody else. But you don’t have to rub everybody’s nose in it. These people have their lives invested in their work. The company matters to them. They don’t need equity for the company to matter to them. 

Embrace “we” and “our” into your daily vocabulary. It’s a powerful way for you to demonstrate the power of “if your end of the boat sinks, so does mine.” As the captain of the boat, do all you can to make sure everybody understands the power of truth to help you steer the boat in the most favorable direction so everybody benefits. 

Don’t let anybody fake anything. Keep it all real. Truthful. Fake is deadly. Fatal. 

Be well, Do good. Grow great!

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Mastermind groups. Think tanks. Peer groups. Support groups.

It doesn’t matter what you call them…they’re opportunities for us to surround ourselves with like-minded people who are peers. Peers are people who are in the same boat we’re in. In the case of THE PEER ADVANTAGE by Bula Network, they’re all business owners! Folks who share many common issues, challenges, and opportunities. 

Years of coaching CEO’s and top-level leaders has shown me the importance of mental health in effective leadership. People don’t like to talk about it…until something very bad happens. Then, everybody seems to chatter about it. Until interest dies back down. 

Sitting down with business owners, CEO’s and other leaders has proven to me the unquestioned need for every business owner to avail themselves of being surrounded by other business owners yearning for personal, professional and business growth. It’s obvious when the CEO quickly jumps to some personal problem that is preoccupying her mind. Sometimes it’s a crisis like caring for a sick, aging parent. Or a struggling marriage. CEO’s aren’t robots immune from struggling through life’s issues. Instead, the pressures of high expectations are ever present. Decision making can’t be put off or canceled. Instead, the show must go on!

THE PEER ADVANTAGE by Bula Network is intentionally designed to help you go on with the show. Shared experiences, shared expertise and insights – these are the priceless assets of a highly functioning peer advantage group. The power isn’t only inside you, or me. It’s in the collective. The power is in the room. In this case, a virtual room that conveniently meets every other week.

I guarantee it’ll be the most powerful room you’ll ever enter. Powerful in the sense of being valuable to you. Check out the details at ThePeerAdvantage.com. Apply today and let’s talk about this opportunity. Together we’ll figure out if it’s right for both of us.

Be well. Do good. Grow great!

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The benefits of physical fasting are widely researched and documented. The benefits of social media fasting might not as widely researched or documented, but I think they’re valuable, too. 

Which is why I’m doing both. And it’s why I do it every now and again.

I do this a couple of times a year — go on a social media fast. I probably fast physically close to half a dozen times or more a year. You may benefit from figuring out ways you can employ fasting in helping reach new heights of physical, mental and spiritual fitness. 

Be well. Do good. Grow great! I’ll see you when I decide to break this fast. 

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Intentions matter. 

Senator John McCain will lie in state at the Capitol in Washington today. However you may have felt about him, or his politics, you have to tip your hat to the man’s intentions. By almost all accounts, he was a man of principles and integrity. Maybe the biggest proof was when he was captured in Viet Nam as a young Navy pilot and refused to be set free because he wanted to honor the code of first captured, first freed. 

McCain wrote a farewell letter that you should read. It reveals the man’s heart and the intentions of his life. True confession. I’ve not been diagnosed with any dreaded disease, but thoughts of death compelled me to write my own farewell letter about a decade ago. I update it every whip stitch. It’s in a DropBox that my wife and I share. She gets a notification every time I update it. Sometimes my intentions change a bit.

“My fellow Americans, whom I have gratefully served for 60 years, and especially my fellow Arizonans, 

Thank you for the privilege of serving you and for the rewarding life of service in uniform and service in public office has allowed me to lead. I have tried to serve our country honorably. I have made mistakes, but I hope my love for America will be weighed favorably against them.

I’ve often observed that I’m the luckiest person on earth. I feel that way even now as I prepare for the end of my life. I’ve loved my life, all of it. I’ve had experiences, adventures, friendships enough for 10 satisfying lives, and I am so thankful.  Like most people, I have regrets. But I would not trade a day of my life, in good or bad times, for the best day of anybody else’s.

I owe this satisfaction to the love of my family. No man ever had a more loving wife or children he was prouder of than I am of mine. And I owe it to America. To be connected to America’s causes — liberty, equal justice, respect for the dignity of all people — brings happiness more sublime than life’s fleeting pleasures. Our identities and sense of worth are not circumscribed but are enlarged by serving good causes bigger than ourselves.

Fellow Americans, that association has meant more to me than any other. I lived and died a proud American. We are citizens of the world’s greatest Republic, a nation of ideals — not blood and soil. We are blessed and are a blessing to humanity when we uphold and advance those ideals at home and in the world. We have helped liberate more people from tyranny and poverty than ever before in history, and we have acquired great wealth and great power in the process.

We weaken our greatness when we confuse our patriotism with tribal rivalries that have sown resentment and hatred and violence in all the corners of the globe. We weaken it when we hide behind walls rather than tear them down, when we doubt the power of our ideals rather than trust them to be the great force for change they’ve always been. We are 325 million opinionated vociferous individuals. We argue and compete and sometimes even vilify each other in our raucous public debates. But we have always had so much more in common with each other than in disagreement. If only we remember that and give each other the benefit of the presumption that we all love our country, we will get through these challenging times. We will come through them stronger than before. We always do.

Ten years ago, I had the privilege to concede defeat in the election for president. I want to end my farewell to you with heartfelt faith in Americans that I felt so powerfully that evening. I feel it powerfully still. Do not despair of our present difficulties. We believe always in the promise and greatness of America, because nothing is inevitable here. Americans never quit, we never surrender, we never hide from history. We make history. Farewell, fellow Americans. God bless you and God bless America.”

We judge people by their intentions and actions. McCain had honorable intentions. So much so that even his critics are mostly able to judge his actions as honorable. 

I know the road to Hell is paved with good intentions, but so is the road to Heaven. The difference is, the road to Heaven is paved with good intentions that were acted upon. 

Cason is my 3-year-old grandson. He’s bold. Mostly fearless. But he can be easily embarrassed. We attend worship services at church three times a week. Twice on Sundays and once on Wednesday evenings. He sits with my wife and me Sunday afternoons and Wednesday nights. This past Wednesday night, while my son was up preaching (Cason’s dad), Cason was misbehaving. I got onto him and he immediately hung his head in shame as I plopped him onto my lap. I let him be embarrassed for a few minutes before distracting him with the watch on my wrist. He’s only 3, but you can tell by his facial expression and body language…he knows my intentions are for his welfare. 

Little kids know. Our pets know. Everybody knows. Or thinks they do.

Your intentions matter.

Make them honorable. Be well-intended. Pursue the best outcome for the people you serve, the people you love. Pursue the best outcome for the causes you care about most. Seek the welfare of others, even if it costs you something. And it will. But it’s worth the investment.

Your judgment of the intentions of others matters.

What if you think the worst of somebody else…and you’re wrong? What if you think the best of somebody else…and you’re wrong?

It’s like the choice between pessimism and optimism. There’s just no downside to optimism. So choose optimism. Choose to think the best. Give others the benefit of the doubt when you’re judging their intentions. There’s no downside. And if you find a downside, it won’t negate all the upside. 

John McCain’s critics may not have agreed with his conclusions, his specific goals, his approach or a host of other actions. People – reasonable people who are well-intended – can still disagree without being disagreeable. 

Teddy Roosevelt said, “Nobody cares how much you know until they know how much you care.”

We can all do a much better job of letting the people who surround us know how much we care about them. Even if we do sometimes disagree.

It’s Labor Day Weekend. Monday is a holiday. I’m thinking of starting my “every-so-often” social media fast, but I’m not sure. If you don’t hear from me next week, you’ll know why. And you’ll know my intentions are to return and keep doing my best to help you out, even if it is just a few minutes every day. 

Be well. Do good. Grow great!

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Small businesses have many advantages. Being highly maneuverable is chief among them. Speed kills competition and wins in the market. Not recklessness. Speed. Not impulsiveness. Speed.

As an operator, my mantra has long been to make sure the company was highly maneuverable and viciously competitive. 

Both involve the factor we all care most about, TIME. 

Frenzy isn’t profitable. Motion doesn’t equal action. Let’s not confuse these things. 

My grandmother had a little wooden sign in her kitchen from Alice In Wonderland that read…

Some business owners operate in a frenzy thinking that speed of motion equals profitable activity. Rarely does that work out. Instead, it most often elevates stress and strain. I’ve never seen panic pay off. It will put you further behind, not further ahead.

Speed is impacted by the mindset behind it. Let me explain. Some entrepreneurs love chaos and frenzy. A hyper approach to everything. These are the folks who have another question before the previous question has had time to be answered. They’re easily distracted. Antsy. Always on the move. 

While it may not be thoughtless speed, they may be the only ones who know the thought behind it. Others are frustrated by it. It looks like zaniness and a lot of squirrel chasing. And maybe mostly it is. It may be an addiction to motion. Speed. Moving, moving, moving. Never stand still. 

Owners who lead with that frantic pace mostly grow increasingly frustrated with the slowness around them. They also grow increasingly impatient. 

Your organization can likely thrive more with a calmer, more deliberate approach. An approach that gives people time to gather their thoughts, express their concerns and ideas and to ask questions required for clarification. None of those activities slow things down. Quite the contrary, they make speed more advantageous. 

Are you an impulsive leader?

Do you give a directive, then completely change directions before that directive ever has a chance to be completed? 

Do you ask a question, only to “on the fly” figure out you’ve got a different question – and one you ask right on top of the first one? And one that has nothing to do with the first question?

Do you issue some edict, then hours later forget all about it, and deem it unimportant – even though a number of your staff members have been working all morning on it?

Impulsive behavior has nothing to do with effective speed. Instead, it has everything to do with a thoughtless lack of self-discipline. No self-restraint. No self-control. An unsettled mind will result in unsettled leadership and unsettled business activity. 

I see it often, which is why I’m talking about it today. Over a year ago I did a video (without audio) that demonstrates the problem of having too many irons in the fire, and not allowing any of them to get hot enough to work with. It’s the “from start to profit” mindset I find myself talking about quite a bit with business owners who find it difficult to focus. 

Reckless speed is still speed. But it’s dangerous. Thoughtful speed is still speed. But it’s effective, efficient and wins races. 

Sometimes owners benefit by thinking about short-term versus longer-term. Execution of an idea – any idea – is easy to consider. Let’s say you’ve got an idea, some innovation you’d like to implement inside your company. You toss the idea out there, but due to your scattershot approach, you’re like a hummingbird who won’t light. You fidget. That idea is still something you’d like to get going, but a week goes by and nobody is working on it. They’re unsure what they’re supposed to be working on. So like my video illustrates, they take a few steps toward executing it, then you change direction so they follow your lead. They’re now moving on something completely different. 

Weeks and months pass. Still no execution of your idea. 

Compare that with an approach where you quieten things down as you explain your idea. The staff asked questions. Provide input. An hour later the meeting ends and everybody knows what needs to be done at this stage of the game. You’ve got a million other ideas floating around, but you temper yourself. You’re making notes and keeping track, but you’re not about to distract your team from the work at hand. You know that by the end of the week they’ll be ready to launch the first iteration of your original idea. Four days from you telling them about it until it’s some form of reality. Four days! 

Versus it never happens. You never get it off the back of the napkin to figure out if it would even work. So you never have the opportunity to iterate it and perfect it. It’s the classic, ready, ready, ready, aim, aim, aim, aim…oh wait a minute, here’s what we should do. Ready, ready, ready, ready, aim, aim, aim, aim, aim…hey, no…you know what we should do?

Funny thing. Owners ruled by thoughtless impulse mostly have no idea how bad it is. They usually know they’re “all over the board,” but they have no concept of how disruptive they are. Frenetic activity begets more frenetic behavior, amplifying stress and anxiety. Even if it makes the boss feel better!

Intentional. Purposeful.

Two words that creep into almost every business building conversation I have. Today, I’m summarizing both into a single term, thoughtful. 

Thoughtful.

Here’s why I like it. It signifies a component of caring, compassion and being considerate. Thinking of others.

That’s why I’ve incorporated it into this conversation about speed. At bats count. Shots at the target. Pick the metaphor you like most. They all refer to the number of opportunities we take. That’s where speed has an impact. The more opportunities we take, the more we learn, the more we’re able to grow and improve. And the faster we’re able to figure out if we want to keep going in that direction. Or if we want to quit and try something else. 

Tap the brakes on the frenzy. Slow down enough to be thoughtful. Go as fast as you want, but keep a check on your thoughtfulness. When it starts to slip, you may be moving too fast surrendering to your impulses instead of your thoughtfulness.

Be well. Do good. Grow great!

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Some people think you just sell your way out of every problem. More sales equal more money. More money means less trouble. Fewer problems. It doesn’t always work that way though.

You know if you’re more driven by the top line (revenue) or by the bottom line (profits). You can be top line driven and still care about controlling costs. They’re not mutually exclusive. It’s largely determined by what you believe in most, and what you enjoy doing most. CEOs and business owners who have a gift of selling tend to focus on that. It’s fine. You don’t need me to tell you it’s okay. But I just did. CEOs and business owners who lean more toward details and efficiencies likely pay closer attention to the bottom line. This isn’t about making a judgment on the rightness or wrongness of either focus. 

Balance. Every business needs balance. A proper focus on the revenues or sales while maintaining focus on the bottom line profits, which must take into account all those expenses. Costs. 

In personal finances, you can save your way toward wealth. I’m sitting in an Economics 101 class in my freshman year of college. There are a few hundred kids in this class. Big auditorium, stadium type seating. The professor had teased the class, telling us he would be informing us how we could all become millionaires. Many of us who regularly cut the class attended. How can you cut a class when it’s going to be about how to become a millionaire? 

Here was the formula he taught us that day. Don’t get married. Get any job earning any reasonable amount of money. Don’t fret about getting a high paying job. Live in the most austere way possible. Don’t buy stuff. Just have a modest lifestyle, living as bare bones as you can. Save at least $20,000 a year. Earn $40,000, then you save 50%. Earn more, save more. At least that’s what he encouraged us to do. Work 50 years and you’ll have $1,000,000. 

Needless to say, it wasn’t the formula we were looking for. We were sorely disappointed in this wealth building strategy. By the way, we cut his class much more frequently after that lecture. To say we were hacked off would be to mildly understate how angry we were at being dupped into attending class that day. But it stuck with me. You can save your way to wealth in your personal life. 

Makes sense that you should be able to save your way to business prosperity, too. But you can’t. And for good reason. Revenue (the equivalent of personal income) isn’t predictable. If you get a job earning $40,000 a year you know you’ve got $40,000 coming in each year. You can implement the strategy our professor told us about. But in our businesses, we have fluctuating revenue. And we lack the discipline to not let our expenses or costs fluctuate with it. When sales are strong, we spend more readily. When sales are tight, we reach for our belts to tighten things down. 

Discipline is the key to personal wealth building success and to our corporate success. 

Returns. As you man the helm of your business you must focus on generating revenues, cash, and customers. Cash is king. Always has been, always will be. Cash flow is the fuel you need to stay aloft. Run out of cash and you’ll crash. Customers? Well, try getting revenues and cash without them. Sales. Cash. Customers. They’re all tied together.

Some costs have a fairly easy ROI (return on investment) to calculate. Customer acquisition costs, for example. How much does it cost your company to acquire a customer? I know service-based businesses, including trade-type businesses, who have a very low customer acquisition cost. Maybe they’ve been operating so long they’ve got a strong book of business, with tons of referrals. They market, but they don’t buy advertising or spend any significant money to get business. Other businesses have high dollar real estate investments in a physical location designed to be attractive to would-be customers. They spend thousands of dollars each month to attract customers. Their customer acquisition costs are significant. 

I’m picking on this particular expense for good reason. You need customers. You’ve got to get them some way, somehow. You can’t just spend your way to success. You can’t save your way to success either. The math has to work to your favor or you’ll soon be out of business. 

You could drive down the expenses of acquiring customers. For example, you could eliminate all advertising. If you’re spending $30,000 monthly in advertising you could be lulled into thinking, “Great, that’s $30,000 I can add to the profits.” That’d be true if sales could be maintained (like our example of $40,000 personal income). But we both know if we eliminate all our advertising our sales will likely plummet. So that’s not a sound approach.

Getting costs down while maintaining or growing sales. That’s the key. Easier said than done, but it can be done. WalMart has led the way for decades. 

In our example, the key is to drive down our customer acquisition costs. We can do it in 2 ways. We find ways to gain more customers while not increasing our costs. And, or, we find ways to maintain the rate of customer acquisition without spending as much. Maybe you focus on your closing ratio (how many prospects you’re able to convert into customers). If your current customer acquisition costs are based on closing 4 out of 10 prospects, then you can focus on finding ways to get 5 or more out of 10 while spending the same amount. 

Making your dollars go further. Business success depends on this investment/expense activity. Sometimes it’s getting costs lower. Other times it’s getting more out of the costs. 

Advertising that garners more prospects – dollar for dollar – is more valuable than advertising that brings in fewer prospects. But we can be tempted to avoid the math. We fall in love with things. We get sentimental. What once worked stops working, but we don’t adjust. The retailer who has historically spent advertising dollars on newspaper, radio or TV continue to spend money there, even though the dollar value is awful. The math is the math. It’s not just about the math, but we can’t avoid looking at the math either.

“I can’t afford it,” is a common refrain. You hear it from your prospects. You say it to your suppliers. We all use it even though it’s not always (or even often) true. What will the money spent get us? Returns. It’s about our discipline to manage the real returns we get. If you spend $35 to get a customer and one customer is worth $50, then you’ve got a math problem. The remaining $15 of profit have to be enough to cover all the other expenses and leave you a sustainable net profit. That’s not likely going to happen. But if you spend $35 to get a customer who will spend $3,000 then you’ve got the math working to your favor. 

Basic. Fundamental. But quickly forgotten by too many business owners who let costs grow out of control. Expenses have a way of creeping up, and up and up. You can’t afford to ignore the math of the return you’re getting on those expenses. Every expense has a return. Yes, those health insurance premiums you hate to pay garner a return. Unless you offer those benefits the quality of your team falls. Can you drive that down if you focus on it? Yes. Everything can be driven down with a bit of attention. I’ve never seen it fail. When we pay close attention to something, we’re able to accomplish magical things. 

Miles per gallon. Attack your expenses line by line with an MPG mindset. Make the dollars take your further. Make your advertising foster more sales. Make your insurance premiums garner bigger benefit, greater peace of mind. You know my attitude about expenses…put every expense on trial for its life. Make it earn its spot on the books. If it can’t, then adjust it so it can. 

My personal objective with all my clients is to provide a 10x return. While I can’t guarantee it, because I can’t guarantee the effort clients put into the work…I am determined to do everything possible on my end to help clients generate at least $10 for every dollar they invest in my help. I’m happier if we can get it closer to $20. That math is important. For me and my clients. I want to earn sufficient profits so I can render the best service possible. And so I can operate a sustainable business. And I want it to be a no-brainer, drop-dead easy decision for my clients. If I’m able to deliver a ten dollar bill for every dollar bill they give me, then it’s an easy decision for them, an investment they’re anxious to make. 

Take the time to figure out if the line item expenditure is earning its keep. What kind of return are you getting? Calculate it. 

Now figure out how you can elevate that return. If you can’t, then figure out if you can get an equal or better return by lowering that expense. 

As you go through your P&L line by line you’re going to discover some things that are completely worthless. Costs that can be completely eliminated. 

You’ll find others that are so much higher than necessary, you’ll be angry at yourself for not looking at it more closely. Regularly. 

I’ve seen business owners operating large multi-million dollar businesses neglect to pay close enough attention only to find gaping holes where profits were just pouring out onto the ground. I’ve seen owners unearth some horrible internal thefts, too. Your business isn’t too small or too large to benefit from a closer examination of costs with the intention of making every dollar go further to propel your company to new heights of success.

Tracking is important, but not if you’re failing to pay attention. Ignorance is not bliss. It’s deadly. Know the numbers. Know what they mean and how important they are to your operational success. 

Be well. Do good. Grow great!

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