Lot of Margin in a Good Story About Your Business

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

Some plastic inside, recycled plastic ballpen that whole pen on it, costs you $20. 20 bucks. Now, they  promise to clean a gallon of trash off of the beach, where are they cleaning that beach? Where do they go? Fiji, Bali. How much do you think it costs to hire a laborer for an hour to clean out the pile of trash off the beach? How much is it? Let's do the P&L here. 50 cents? See if there’s willing to go 50 cents, they’ll go for a dollar, they’ll round up for you, right. Let's say it’s a bottle, right. This thing which the whole material is $5, so I figured this thing equals a dollar to me, right? So let's pay $1 or $2 for an ocean bracelet plus we're gonna hire that laborer to go ahead and clean up that trash, costs us now for $3 for a $20 bracelet, where did that 17 bucks go? Advertising? Yeah certainly after the word out, but all $17? So what of that purchase are you paying more for, the story or the numbers? Huh, there's a lot of margin  in a good story about your business and I work with companies all the time like, I can’t get good employees, we can’t see people, they come back  in. No they’re not. There’s nothing wrong in here in your employees. You’re a boring business. You’re a boring person to work for, right. Exciting companies have no problem getting employees and working for less.

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.