Join Patrice Miles, BOP Business Coach, and Chris Kornman, Entablature Design Build, as they delve into the transformative power of onboarding and training inexperienced yet compatible new hires on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about practical strategies, metrics, and best practices for nurturing talent from scratch.
Contact Info:
Chris Kornman
Entablature Design Build
https://entablature.com/
https://www.facebook.com/EntablatureNOLA/
https://twitter.com/EntablatureNOLA/
https://www.instagram.com/EntablatureNOLA/
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HERE ➡️ https://bit.ly/healthypatrice
SIGN UP for our Newsletter HERE ➡️ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE ➡️ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE ➡️ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE ➡️ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
We are sobered us to the reality that we will always have to acclimate our climbs with a layover at basecamp; up and down, up and down. Prioritizing personal meaning that happens when we make time to have 1-on-1 check ins. Connectedness is crucial for a meaningful culture.
Realizing the imperfection and meaning of holding themselves to a written hiring process: win or lose.
Revealed thoughtful humanity compelling us to leverage our business in the generosity and service of those we spend time with each day.
Motivational speakers, sideline reporters and news organizations live in a fantasy land of grow, grow, grow so that when an organization has any backwards movement they label it FAILURE.
Trees are not meant to grow in the sky.
Humans are not meant to live on earth forever.
Life and business necessarily intersect and both are a rhythm of climb and descend, climb, descend.
This past week I was walking the coastline at Myrtle Beach while Jax was about to run his first competitive race in a year because of injury. I noticed something…the waves advanced, and receded, advanced, and receded.
We are not designed to sit on the mountaintop full time. Thomas alluded to the fact that an altitude of 8000 feet is considered the death zone.
When a car regularly red lines the RPM’s, it will burn up.
Ironically we’re designed to come back down to base camp often and…
Run another team mtg
Do another check in
Update the delegation roadmap
Review your culture calendar
Add another bank account
Track the dashboard
Update the job role
And review the budget again and again
The mindset of “we’ve already done that” will need to be replaced with a mind of “let’s do it again”.
As owners we cannot be in a constant state of climb and RPM redline.
As a team, we cannot also be in a constant state of sitting comfortably a base camp.
There’s a an imperfect rhythm to find.
On a cars dashboard there are two dominant gauges: the speedometer and RPM gauges. One tracks your speed, the other how many revolutions per minute your engine is spinning.
Let’s say the general speed of our business is 73 miles per hour. Sometimes we must speed up to 80…other times we slow 65 or 70. There is always acceleration of some kind whether the acceleration is summiting up to the 2nd Mountain at 80 miles an hour, or slowing the RPMS’s back down to Basecamp at 70 miles per hour.
We never take our foot off the gas, and yet we modulate the gas pedal to the appropriate revolutions.
A car is not designed to sit idle at 0 RPM’s. It is also not designed to redline constantly at 9,000 RPM’s.
Sometimes business is a rush: the new, the innovative.
Most times? It’s a steady 73 miles an hour at 2000 RPM’s heading to a particular place and a predictable pace: weekly schedule, team meetings, culture calendar, etc.
Dallas Willard, my favorite author, was asked this question, “what must we do to be healthy?” He replied simply and emphatically, “we must ruthlessly eliminate hurry from our lives”.
When asked if there was anything else, he offered kindly, “there is nothing else.”
If I may, I would like to adapt the statement into our BOP vernacular.
We must ruthlessly eliminate chaos from our lives.
How?
Activating ourselves with the oxygen of repetition, predictability and meaning of a rhythmic climb up, and ascent back down. Up to implementation, down to delegation. Up to executive leadership, down to team meetings. Up to legacy planning, down to subdivided bank accounts. Up to tax strategies, down to check ins.
If you went back and audited the coaching notes of the clients that have been in the BOP coaching family for the longest: 7, 8, and 9 years here are the coaching conversations you will find.
An accounting culture calendar.
A new executive job role.
An updated org chart.
A video sales process.
A job tracking sheet on a spreadsheet.
An expansion checklist
Implementing 1-on-1 check ins with regularity
Are these clients failures? No. Business is “the infinite game”...there is always growth, and that growth always requires a down-trek to basecamp where the most basic tools are sharpened.
The best football players in the world show up and…block, tackle, throw, and catch before they ever summit the mountain of complex playbooks.
As we push you as coaches into the four elements of our climb: purpose, people, process, and profit, it is crucial that you buy into the rhythm of climb and descent. Both are needed. Both are valuable. Both will set the stage for life and work of purpose, because life and business necessarily intersect.
You may not know this…the BOP family now has 94 businesses that are currently being coached. One of those received an offer to be purchased for $5mm cash and walk away (that’s rare).
When asked, the owner said, “a year ago I would have taken it because I was a slave to my business.”
Today, “I’m not interested because we’ve built a business I actually enjoy being a part of because it’s a business with meaning.”
This is an owner who still has to do all of the basecamp, first mountain, and second mountain things. $5mm…no thanks.
The second mountain is repetitious.
The second mountain requires built predictability.
The second mountain is more meaningful than a walk-away check for $5mm.
What is one basic, basecamp tool that you need to go back to and ruthlessly implement so you can ruthlessly eliminate hurry from your role and life?
Join Patrice Miles- BOP Business Coach, and Gerrick Taylor- CEO, Taylor's Landscape Supply, as they delve into the transformative power of Google Docs for running your admin team on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Learn about leveraging Google Docs to manage your team, best practices for optimal use, and insights on choosing the right tools for business communication and organization.
Contact Info:
Gerrick Taylor, CEO
Taylor's Landscape Supply
https://taylorslandscapesupply.com/
https://www.facebook.com/TaylorsLandscapeSupply
https://www.instagram.com/taylorslandscapesupply/
https://www.youtube.com/@TAYLORSQLS
https://twitter.com/taylorsqls
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HER➡️ https://bit.ly/healthypatrice
SIGN UP for our Newsletter HERE ➡️ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE ➡️ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE ➡️ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE ➡️ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
We stumbled across Mike Michalowicz’s Profit First methodology back in 2017 when a friend sent me a sample chapter of the book and I devoured it. We were only a couple of years into our business coaching firm and honestly were looking for a method that would demonstrate a numerical return on the investment our clients were making in themselves by engaging with Business On Purpose.
The premise is basic: subdivide your bank accounts.
Instead lumping all of the money of your business into one, two, or three accounts, begin subdividing each dollar according to where that portion of the dollar is supposed to go.
If your cost of goods sold (COGS) is 30%, then roughly 30 cents of each dollar should be funneled into a COGS account, and so on.
After a year of subdividing our own accounts we realized the massive real and psychological value of subdividing each dollar.
Others started following suit and we even began tracking the weekly balance of our cash into what was a more revealing “cash flow” report than the reports we were pulling from our bookkeeping software.
I am amazed that such a simple method is disdained by so many bourgeois.
Experience has taught us that simple things are often the key to clarity, and in this case, retaining more profit to be used for the things that matter most.
There are four primary reasons we have seen that rob owners of the joy of knowing where their money is going by subdividing their dollars.
First is the barrier of our own mindset. Whether it is the excuse of, “I’ll just do this all on a spreadsheet”, or the abdicating thought of, “it’s too much work”, our minds are the first to put up a fight against simplicity.
Just ask yourself, “am I content and joyful around what I am doing now?”
You might be content, but all of that effort and not much to show for it at the end of the year will leave an owner demoralized and empty.
Subdividing resources is not a novel concept and has worked for thousands of years across thousands of cultural settings.
Barrier number two is the bank who will be happy to add accounts for a fee.
There are plenty of local and remote banks who would love to host your deposits seeing as that money is what allows them to make money.
If your bank insists on charges, then insist on another bank.
Barrier three is a bookkeeper who is emphatic that “all of those transactions are going to take too much time and skyrocket your bookkeeping fees.”
Most of the accounts you add are simple savings accounts that just hold money until it is time to transfer to the government for taxes or to some other account for profit draws. Every quarter your real transactions will only increase by a few and will yield “voodoo”-like results in retained cash in the words of one of my friends who saw a twenty times cash increase in 12 months simply because he was subdividing and watching the money.
Find a bookkeeper who is excited to get you the clarity you need around your finances and retain the profit you have always known you could.
The finally barrier to implementing the subdivision of your bank accounts is your CPA, not all of course, but some. Most CPA’s are tax-first professionals focused on tax returns. There is a growing number of CPA’s who are seeing their role necessarily and beneficial evolve into advising beyond just tax returns.
If your CPA is unwilling to side with you on “all those new accounts”, there are plenty of CPA’s who would love to get you the clarity you need around your finances and retain the profit you have always known you could.
Remember, advisors, coaches, banks and support teams are here to serve you, not the other way around.
Commit to subdivide your bank accounts and begin to track the growth of your actual cash that you can then use for the generosity of your life and those you love and serve.
For more go get Mike’s book “Profit First” and if you are in need of implementing all the systems necessary to grow purpose, people, process, and profit for your business reach out to us at mybusinessonpurpose.com/contact.
Join Patrice Miles, BOP Business Coach, and Wendy Pace, Owner of Pace Setting Media, as they explore the dynamic world of TikTok on the latest episode of Tuesday Tools On Purpose at My Business On Purpose Podcast.
Unlock the secrets to effectively harnessing TikTok for business growth and marketing success. Gain valuable insights from Wendy's expertise in social media management as they guide you through the steps to elevate your brand's presence on this influential platform.
Contact Info:
Wendy Pace
Owner, Pace Setting Media
wendy@pacesettingmedia.com
770 2404851
Are you working IN your business or ON your business? Do you have all of the foundational elements that will liberate you from the business chaos? Take the assessment to find out which areas you can grow and improve on.
Take our Healthy Owner Business Assessment HER➡️ https://bit.ly/healthypatrice
SIGN UP for our Newsletter HERE ➡️ https://www.boproadmap.com/newsletter
For blogs and updates, visit our site HERE ➡️ https://www.mybusinessonpurpose.com/blog/
LISTEN to the Business On Purpose Podcast HERE ➡️ https://podcasts.apple.com/us/podcast/my-business-on-purpose/id969222210
SUBSCRIBE to our YouTube channel HERE ➡️ https://www.youtube.com/channel/UCbPR8lTHY0ay4c0iqncOztg?sub_confirmation=1
At 67 Clark had owned his contracting business for 40 years…he was proud, but tired. The business had given him a chance to live in a good home, send his kids to good schools, and take a trip every now and then. Of course, business didn’t grow while he was gone.
At 67 he reached out to a business broker and asked, “how much can I sell my business for?”
He had always been told his business could be his retirement plan. HE was the value of the business and HE did not want to work anymore.
How do you grow your biz without debt, without expensive software, and yet WITH hope that your business can provide for you long after you have stopped working?
Can you imagine a business that not only runs, but grows without you???
Is that even possible?
What happens to your business if something happens to you?
Did you know that 80% of a biz owners net worth is locked away in their business?
How does an owner grow their number one asset without debt and expensive software?
I’m going to lay out four available next steps for you to choose from in taking meaningful action to be liberated from business chaos and build your biz to run and grow without you…especially if you plan to stay!
First, you must Write The Vision Down. Hope is not a plan, but hope is necessary. I hope to be a race car driver someday. I hope to live in Istanbul for months at a time. I hope my home increases in value. I hope the BOP team continues to build on it’s meaningful culture. Hope is the desire…but vision is the clarification of that hope
Writing a vision down converts hope into existence. Gerber says “if you don’t write it down you don’t own it”. We say, “if you don’t write it down it doesn’t exist”.
Write your vision down over a series of pages describing what you want for your family and freedom, your finances, your product or service, your team, your ideal client, and your culture.
The second tool for growing your business without debt or expensive software is committing to a simple life of spreadsheets.
I got a t-shirt made that says spreadsheets change lives!
What Project Management software is the best? Whichever one you will use.
Don’t try to drive a Stock Car before you’ve driven a Civic. Prove to yourself you will use the digital tools by using the free versions first.
Start any new tracking initiative on a spreadsheet…prove yourself, THEN you can sign up for the big boy stuff.
The third ingredient owners use to grow their biz without debt or expensive software is a culture calendar.
Culture is a science term, not a biz term. Culture is not something that happens to you but it is something that you proactively build.
You must create and invite people into a culture of RPM’s (repetition, predictability, and meaning). What a young generation does not want is a business or process that is glitchy, confused or bottled in your head.
What do they want? Clarity!
Stop Wasting time recreating the wheel. Start building a culture where people wake up and want to do hard things
You will need a tool that build the RPM’s of great culture: repetition, predictability, and meaning
Take a simple spreadsheet and add the weeks of the year along the horizontal bar at the top while adding all of the cultural ingredients you wish to install along the left hand vertical side.
Review this culture calendar in your weekly team meeting and implement. The team will begin to run and grow the business with or without you
The final tool to help you grow your business without debt or expensive software?
Subdivide your bank accounts and stop binge-drinking borrowed money!
Money leaks the fewer bank accounts we have. If we have 1, 2, or 3 accounts then it looks like we have a lot more money than we actually do
A $1 receivable drops down to pennies when we begin removing the cost of doing business. For every dollar of receivable you may realistically only be keep 2 to 4 pennies in CASH!
I’m not talking about your Net Income or P&L statement…that’s what the government and your CPA look at. We look at the cash you have in the bank. Nobody EVER has been able to withdrawal money from the bank using a P&L!
Of course those tools are important, and so is subdividing your cash.
Mike Michalowicz’s book Profit First is the definitive resource on this simple tool.
First, subdivide your bank accounts into at least 6 accounts. Then set percentages on each of those accounts. When receivables come in, subdivide the dollar up and put it in each home.
Don’t overthink this…don’t make excuses…you know what your doing now is not working. Money is creeping in the front door and flying out the back door.
Once you have subdivided, now you can begin tracking your actual cahs every single week and limit your need to borrow money. This is real-life cash flow, not some static report that you pull when you are in trouble.
It’s time to seeing where your money is sneaking
Sales are not your problem.
Marketing is not your problem.
Your process is your problem that free spreadsheets and subdivided bank accounts can empower you to solve.
Today, that 67 year old Clark is now 75 and he rarely leaves his house…he coughs all day. He always said, “when I retire, THEN I’ll…”
This wasn’t what he had planned…and his story can act as a catalyst for you to do something different.
To live NOW…enjoy your business now…enjoy your life NOW…stop allowing chaos to determine your life.
Write your vision down, commit to a life of spreadsheets first, implement the culture you see, and subdivide your bank accounts.
My new audiobook walks through these in details. Go search Let Your Business Burn: Stop Putting Out Fires, Discover Purpose, and Build a Business That Matters.