Unlock Code: PRØF1T
TRANSCRIPT
I’m 99% certain I’m gonna get a lot of flack for today’s suggestion.
Unlock code number 6: Centralize treasury.
Centralize treasury. What the heck do I mean by centralize treasury?
Here at SBS when we talk about treasury function, that’s the person that cuts the checks.
What I’m simply suggesting with unlock code number six is they gotta come ask the boss. You become the bottleneck for any purchases that need to be made.
I know for now, you probably have — I know up until now you probably have some threshold. If it’s $2,500 or $5,000 that requires a decision by committee.
No, I’m telling you to scrap all that. And really, all expenses are authorized by you. Channel your inner 2013. Channel the early days when you had no choice but to be the bottleneck because you were the only person there, right?
So I want to challenge you to centralize your treasury. All decision making goes through you. All check writing, all purchasing decisions go through you.
And just see what profit is unlocked. Just see what expense cutting will happen when you get the final word and you just say, “No there’s actually another solution for that.” “No we don’t need to pre-order to-go boxes for the pub for the next 8-months.” Right?
This is stuff that comes intuitive to you and me but may not to your purchasing person. Ok?
Centralize your treasury.
Take back the checkbook.
Make it painful.
Generate more profit.
Talk to you tomorrow.
I’m 99% certain I’m gonna get a lot of flack for today’s suggestion.
Unlock code number 6: Centralize treasury.
Centralize treasury. What the heck do I mean by centralize treasury?
Here at SBS when we talk about treasury function, that’s the person that cuts the checks.
What I’m simply suggesting with unlock code number six is they gotta come ask the boss. You become the bottleneck for any purchases that need to be made.
I know for now, you probably have — I know up until now you probably have some threshold. If it’s $2,500 or $5,000 that requires a decision by committee.
No, I’m telling you to scrap all that. And really, all expenses are authorized by you. Channel your inner 2013. Channel the early days when you had no choice but to be the bottleneck because you were the only person there, right?
So I want to challenge you to centralize your treasury. All decision making goes through you. All check writing, all purchasing decisions go through you.
And just see what profit is unlocked. Just see what expense cutting will happen when you get the final word and you just say, “No there’s actually another solution for that.” “No we don’t need to pre-order to-go boxes for the pub for the next 8-months.” Right?
This is stuff that comes intuitive to you and me but may not to your purchasing person. Ok?
Centralize your treasury.
Take back the checkbook.
Make it painful.
Generate more profit.
Talk to you tomorrow.