Unlock Code: PRØF1T
TRANSCRIPT
Hey buddy, today I want to talk about unlock code number four which is a sense of urgency. Let me give you a little glimpse into what I do every single day when I get to work.
The first thing I do is I immediately analyze: What revenue do we have coming in? What new revenue do we have coming in? And what expenses could we cut?
I do this every single day. Five days a week. What new revenue do we have coming in? And what expenses can we cut at the moment?
The next thing I do once I have that list laid out is I take action on new deals coming in, meeting times, prepping for those meetings. And taking a look at our cash flow and taking a look at what is happening with the financials.
Once that’s out of the way, which takes me typically 35 to 40 minutes, then I roll into my day.
And my day then goes into various team meetings, various client meetings and various tasks that require my attention. Now, if I had to rank those three items, the easiest thing of the three are the tasks and items that need my attention because I’m most comfortable going through my core competency and getting that stuff done.
What I like to do is flip it or reverse it and put the most difficult part first, right? The hardest part first, get that out of the way. And fortunately, that’s the most important part of our business. Sure, we have to deliver. Just as you need to deliver beer or beverage, we need to deliver on our services.
But at the same time, if we’re not constantly analyzing revenue, we’re not constantly analyzing expenses, we’re not going to be in business.
So, I start the day with a level of urgency that I need to take a look at the business finance pulse.
Another thing with the sense of urgency that I think is super, super critical is managers tend to take a lot of time in making decisions.
When we move into this whole profit idea first, the decision-making process should be swift, it should be data driven, and it should not take a week or a month to make a decision.
So, an example of that would be: Your taproom manager would like to schedule some new programming. Right? The taproom manager is not setting a meeting with you to discuss the type of programming.
The taproom manager is setting a meeting with you to discuss a go or no-go on the taproom programming. It’s a new band, it’s a new trivia, it’s a new yoga. What’s the potential upside, what’s the potential revenue, what’s our expenses, and where is the profit? Right?
You’re meeting to make a go or no-go decision.
You’re not meeting to say, “Oh, I think that a DJ would do better on Friday night than a band because of —”
No, no.
All that work has been done by the manager for you, you’re simply meeting to make a decision that will generate profits.
Urgency is something that is an unknown profit generator that if we get the entire team on board, it will begin to pay dividends very, very quickly.
It starts with you. It starts with the ownership, leadership. So think about that, think about how you can insert urgency into the decision-making, urgency into placing profits first.
And talk to you tomorrow, thanks.
Hey buddy, today I want to talk about unlock code number four which is a sense of urgency. Let me give you a little glimpse into what I do every single day when I get to work.
The first thing I do is I immediately analyze: What revenue do we have coming in? What new revenue do we have coming in? And what expenses could we cut?
I do this every single day. Five days a week. What new revenue do we have coming in? And what expenses can we cut at the moment?
The next thing I do once I have that list laid out is I take action on new deals coming in, meeting times, prepping for those meetings. And taking a look at our cash flow and taking a look at what is happening with the financials.
Once that’s out of the way, which takes me typically 35 to 40 minutes, then I roll into my day.
And my day then goes into various team meetings, various client meetings and various tasks that require my attention. Now, if I had to rank those three items, the easiest thing of the three are the tasks and items that need my attention because I’m most comfortable going through my core competency and getting that stuff done.
What I like to do is flip it or reverse it and put the most difficult part first, right? The hardest part first, get that out of the way. And fortunately, that’s the most important part of our business. Sure, we have to deliver. Just as you need to deliver beer or beverage, we need to deliver on our services.
But at the same time, if we’re not constantly analyzing revenue, we’re not constantly analyzing expenses, we’re not going to be in business.
So, I start the day with a level of urgency that I need to take a look at the business finance pulse.
Another thing with the sense of urgency that I think is super, super critical is managers tend to take a lot of time in making decisions.
When we move into this whole profit idea first, the decision-making process should be swift, it should be data driven, and it should not take a week or a month to make a decision.
So, an example of that would be: Your taproom manager would like to schedule some new programming. Right? The taproom manager is not setting a meeting with you to discuss the type of programming.
The taproom manager is setting a meeting with you to discuss a go or no-go on the taproom programming. It’s a new band, it’s a new trivia, it’s a new yoga. What’s the potential upside, what’s the potential revenue, what’s our expenses, and where is the profit? Right?
You’re meeting to make a go or no-go decision.
You’re not meeting to say, “Oh, I think that a DJ would do better on Friday night than a band because of —”
No, no.
All that work has been done by the manager for you, you’re simply meeting to make a decision that will generate profits.
Urgency is something that is an unknown profit generator that if we get the entire team on board, it will begin to pay dividends very, very quickly.
It starts with you. It starts with the ownership, leadership. So think about that, think about how you can insert urgency into the decision-making, urgency into placing profits first.
And talk to you tomorrow, thanks.