Death by a thousand cuts...
how to NOT sink your profitability and
how to RECLAIM your revenue.This episode is a must for a CEO, founder or fractional leader who struggles with the culture of overdelivering and trying to "help" without getting paid.
FUN FACT: This isn't just a problem for SMBs. It can be a business killer for MM companies.
Enough doom and gloom... How can this episode help you and your company?
As leaders and founders, we are inherently wired to solve problems and serve our people. But there is a massive difference between adding value and accidentally bankrupting your vision.
In the newest episode of GTM: Get the Money® [LIVE], my guest Michael R. Nelson and I pull back the curtain on the silent killers of your profitability.
We dive deep into two radical concepts that are likely destroying your margins right now:
🆓 "Freedom Fighting": Doing unbilled work or fronting costs to help out struggling clients. You might think you are buying long-term loyalty, but in reality, you are just working for free and sinking your own profitability.
🥷 "Lingchi" (Death by a Thousand Cuts): Accommodating those tiny, 15-minute unbilled client favors. When multiplied across hundreds of clients, these small requests secretly steal dozens of hours of labor every single month.
Here is the radical truth: the average profit for businesses in the US is a razor-thin 4%. You cannot afford to operate without extreme precision. You cannot help your community or empower your team if you go out of business.
When you tune in to this conversation, you will unlock transformative strategies to rethink your operations:
You will discover why you must meticulously track your highest cost of goods sold, which is your labor.
You will learn how centralizing your time tracking, CRM, and project management into a single pane of glass can instantly plug the holes in your cash flow. Y
ou will understand how to set firm limits that protect your revenue, allowing you to renegotiate scope before overages happen. Stop settling for the status quo. It is time to measure what matters, eliminate the busy work, and reclaim your revenue.