3 THINGS I LEARNED WHILE HOSTING CNBC'S NEW SHOW: NO RETREAT
While hosting CNBC’s new show, No Retreat: Business Bootcamp I came across multiple businesses that were struggling and fighting for survival.
My objective was to break down what they were doing wrong and how to build a better team for them to move forward and get themselves out of the hole they found themselves in.
While “fixing” these businesses here’s what I discovered:
1. Communication is Oxygen.
Most of the problems can be traced back to communication. Executives were either living in ivory towers and never communicating with middle management or the executives were communicating poorly with one another.
Regardless of where you are in the corporate hierarchy I’m sure communication or lack there of is impacting you too.
My favorite rule of communication is if it can’t be solved in two emails pick up the phone.
There’s nothing more inefficient than a 25 email thread over a span of 4 days.
Remember, the fast eat the slow.
2. Simplicity helps scale.
This was something I found with my own business as Spartan was growing. The more you do the more complex the business becomes. If your only way of scaling is by adding headcount you have a problem. Spartan is a complex organization..but every day I am attempting to make it less so.
Simple is better. You don’t need to add more products to create more revenue. You just need to find a different way of talking about it and changing your prices.
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3. Know your business.
This might come as a shocker to many but I was surprised at how many owners had their head buried in the sand. Look I get it, it’s hard to face the music when things are bad but you’re only delaying the inevitable. You have to chase the uncomfortable.
You need to know the details. Specifically on the finance side.
How much are you generating per day?
Daily expenses?
What’s your monthly overhead?
Where can you save money?
Cash is king and you should always be looking to accumulate cash because that creates opportunity.
If you’re the leader and you don’t know the details then who does? It also holds you accountable as the leader.
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Strategy, Innovation & Design, Entrepreneurship, Deep Worker & MonoTasker, Moin 3.0 (North on the Medicine Wheel)
3yWatched episode 1 on CNBC. Outstanding and thematically well done! -- interweaving the business problems with mind-body-spiritual-physical challenges to the team on the Farm to unlock potential and discover solutions. Speaks to every Entrepreneur! A must watch for entrepreneurs, small business owners, startup founders and innovators of all types. Thanks Joe! Go Spartan!
Top 1% ~ Regenerative and Functional Medicine
3yThis is great!
Elite Mindset Coach and Partner at Max Out Mindset | Founder of Run Slower | Lifelong Audio Editor
3yThe good thing communication is a skill and can be trained.
Founder and CEO | Helping B2B executives strategically engage with their customers | Podcast Host | Author | Speaker | SAMA Member | International Torch Award for Ethics Winner
3yGreat article, and I will definitely subscribe. I would add just one thing to this statemeent: "Executives were either living in ivory towers and never communicating with middle management or the executives were communicating poorly with one another." Executives also need to communicate with the executives from their strategic accounts. How can you make good decisions if you don't know what the decision-makers of your key customers are needing/thinking/feeling/saying about the products and services you offer? Thanks for a great newsletter, Joe!