Today’s show is a fascinating glimpse behind the scenes of speaking and how to get booked for speaking engagements. 

We hope you enjoy listening to this fun and insightful conversation with Li Hayes. Also, don’t miss her explanation of the differences between talking, teaching, and speaking!

Li Hayes puts professional speakers on more stages! She is founder of Go Leeward Speaker Management, working with inspirational and impactful speakers like Mike Michalowicz, Emmanuel Kelly and Jeff Hoffman.  

Through her Path to the Mainstage speaker program, she also helps emerging speakers by sharing the behind-the-curtains secrets of professional speakers and event planners that are essential to speaker success. Most speakers don't fail because of their content or on stage talent, they fail to be successful because they don't understand the business of speaking. With a long history in business working with Corporations, Associations, NPFs and more, Li Hayes gives emerging speakers, who want to accelerate their businesses, the skills and tactical path to getting themselves on the mainstage.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Li explains the impact that being surrounded by thought leaders has had on her.
• The number one thing that event planners are looking for.
• Li shares tips on how to “build your celebrity”.
• Understanding the needs of an event planner is very different than understanding the needs of your top clients.
• How these tenets relate to Pumpkin Planning.
• Li addresses the foundational steps to building a successful speaking career.
• The biggest mistake that speakers can make.
• It’s important to stay humble!
• More tips from Li on how to bring value as a speaker and advice on managing expectations.
• Li explains the difference between a talker, a teacher, and a speaker.
• Li provides an overview of what a keynote presentation should entail.
• Understanding the BUSINESS of speaking: that’s what Li’s Path to the Mainstage is all about, since only 20% of your speaking success is related to your stage performance.

 

Connect with Li!

LinkedIn

Facebook

Links and Resources:

Download Dr. Sabrina’s Introductory Training: How to Make Your Time Worth $10,000 an Hour

Entrepreneurs Take Your Life Back! Community

 

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Steve Dale is the author of The Profitable Contractor and we’re delighted to have him with us as our guest today! 

As you will hear from Steve, working more hours does not necessarily correlate to making more money; in fact, many times, it’s quite the opposite. He also shares the value he gained in being coached, what he learned through Pumpkin Planning, and how Tap the Potential introduced him to a better way of running his business.

Please join us in this conversation to hear about the successful pivots that Steve learned to make in his business that ultimately inspired him to write his book. There is much to learn here!

Steve Dale is a contractor, entrepreneur, and author who has run a residential remodeling business for thirteen years. He graduated from Lewis-Clark State College with a business degree and is a certified Pumpkin Plan Strategy coach. 

Steve combines a strong business foundation with an insider’s understanding of what it takes to run a successful remodeling company. He transformed his own business using these skills, which fueled his passion for helping other contractors learn how to run a thriving business while still having a life outside of work.

He lives in Lewiston, Idaho, with his wife and three children. In his free time, he enjoys hunting, fishing, exploring the great outdoors, and spending quality time with loved ones. You can learn more about Steve and download free resources for your business at OneYearRescuePlan.com.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Steve addresses the mental shift from contracting to coaching.
• Steve shares how he learned to overcome the struggles to embrace his value and to price appropriately.
• Surrounding yourself with the right kind of support is crucial to moving forward.
• The dangers of the “contractor buddy advice”.
• Work does not have to take away those important moments in life that we can’t get back.
• When we become genuine and vulnerable, we can share and request help with our struggles. Only then can we start to turn things around.
• Do you need to be supported as you grow your business? Take our Better Business, Better Life™ assessment and schedule a consultation!

 

Connect with Steve!

The Profitable Contractor

Links and Resources:

FREE Download: How to Make Your Time Worth $10,000 an Hour

 

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Mary Pierce of Pierce & Company has been in Tap the Potential’s Better Business, Better Life™ program for about a year now, and she’s our featured guest today!

In this episode, we examine ways to get a better quality of life when business is going well but we’re kind of feeling “stuck in the weeds”. 

If you’re feeling the “scarcity mindset” of not having enough time, money, or love and you’re ready to transition to the “abundance mindset” where you feel safe and supported, you’ll want to listen to this inspiring conversation!

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• As Mary explains, she is an experienced CPA who has worked in the accounting profession for over 30 years, advising clients in construction, real estate, and service businesses, and she has recently niched down even further to the automotive repair shops.
• Mary describes how she felt about her business and her life at the time that she joined the Better Business, Better Life™ program.
• How to get out of the scarcity mindset.
• Mary shares the many changes in her business and her life that have her excited.
• What Mary has gotten out of the How to Hire the Best course.
• Change your thinking from “I can’t” to “How Can I”.
• Mary addresses her plans for her future.
• Why many business owners are ready to look for a j-o-b.
• What endeavors, hobbies, or professional interests would YOU like to explore outside of your business?
• Do you recognize yourself in Mary’s “before” story? Take our Better Business, Better Life™ assessment and schedule a consultation!

 

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Book Mentioned:

Unleash Your Primal Brain: Demystifying how we think and why we act by Tim Ash

 

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

On today’s Profit by Design, Dr. Sabrina Starling talks with her good friend, Donna Leyens. Donna is the president and Co-Founder of the Provendus Group. She is on a mission to save small businesses from extinction, by providing business tools, strategy, training and support to business professionals who want to make a big impact by becoming small business growth strategists. 

This mighty team of strategists uses The Pumpkin Plan Action Guide, a business growth program Donna developed based on the methods in the book The Pumpkin Plan, written by her Co-founder Mike Michalowicz. Pumpkin Plan Strategists help small businesses to not just stay afloat, but to scale and grow in both profitability and size, while allowing the owner to have time for a life as well.  Today, we will learn how to make your business more sustainable using The Pumpkin Plan.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Donna gives us a brief overview of how The Pumpkin Plan is so helpful to business owners.
• The 3 crucial elements in your business.
• How you know if you need to find the Sweet Spot in your business.
• The Client Assessment for ranking your clients.
• What questions to ask your best clients to find more clients like them.
• What The Pumpkin Plan offers for business owners who are overworked and spread too thin.
• Why Profit First needs The Pumpkin Plan.
• An example of narrowing what you offer to get better pricing on what you sell, increasing profitability.
• The Blueprint for Growth

 

Links and Resources:

FREE Download: Dr. Sabrina's 5 Favorite Wishlist Interview Questions +

 

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

In this episode, you're going to get some great ideas that are really going to get your wheels turning. Dr. Sabrina talks to Tom Antion, an internet multi-millionaire who has never had a job. He has been a professional speaker and entertainer since 1988. Tom has a really outrageous hiring method that takes guts to implement. Dr. Sabrina verifies, however, that it's a good method to use, and that it will work. 

Tom is the founder of The Great Internet Marketing Retreat Center, the only licensed, dedicated internet marketing school in the country, with the only facility of its kind in the world. People come from all over the world to study internet marketing there, in the lap of luxury. Tom also has a new podcast, called Screw The Commute, where he teaches people how they could live pretty much two for the price of one, if they didn't have to sit in their car on the way to work, making other people rich.  

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Tom shares the one life lesson that he has carried forward.
• How Tom got his outrageous idea for an entertainment company, Prank Masters.
• Tom explains how he got back up, kept humor around him, and started all over again when things fell down for him.
• Tom talks about how he got into the speaking business.
• Tom had to learn how to become a great, professional public speaker.
• Tom realized that if you try to be excellent at something yourself, people will notice and they will often ask you to teach them.
• Tom used what his Dad had taught him about being excellent when the commercial internet came along, around 1994.
• For Tom, the overriding principle is to be really excellent at what you do so that other people will ask you to teach them how to do it. This is how he got to be a big internet guru.
• Although it's good to have long-term dreams, you have to do the step-by-step and your emphasis will change over time.
• Some tips for keeping up with the constantly changing internet, for the online portions of your business.
• Tom discusses the ins and outs of his outrageous, street-smart hiring process.
• Why it's best to pay young people for the job, rather than by the hour.
• Tom explains how to place a hiring ad his way. Tom's ads are unprofessional, yet they really work.
• Tom's hiring process will help you to filter the wrong people out and speak to the right people.
• Dr. Sabrina's book, How To Hire The Best, features interviews with real-life entrepreneurs about their hiring practices.
• Tom gives his thoughts, as an entrepreneur, about what he has learned about being intentional and he also explains how he designed his business and how he runs it.
• You can keep your costs low by learning and doing as much as possible yourself. Only delegate once you know what you're doing.
• How to make your hobby legitimately tax-deductible.
• Tom discusses what inspired him to start his podcast and he gives some of the topics that he gets into.
• Tom gives some great tips from the training he does on how to do a $50,000 video production for pennies on the dollar.
• Tom explains how you can use Shortkeys for a PC and  Keyboard Maestro for a Mac to save yourself millions of keystrokes and to provide lightning-fast customer service.

 

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp

 

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

In this episode, Stephen King, president and CEO of GrowthForce, joins Dr. Sabrina and her co-host, Mike Bruno, for an illuminating conversation around pricing.

Should you discount during an economic downturn? Listen in to this discussion to hear compelling reasons why you should NOT discount, and what you should be doing, instead.

Top executive at a Fortune 500 company. Bootstrapped CEO. Venture-backed tech startup founder. Non-profit fundraiser. It’s safe to say Stephen King is not your traditional CPA.

Stephen is president and CEO of GrowthForce, one of the nation’s largest providers of outsourced bookkeeping and controller services. Regarded as an industry thought leader by AICPA and CPA.com, his ability to visualize the future of accounting has lead GrowthForce to become one of the fastest-growing companies in America.

His experience at the forefront of technology development and accounting system design spans nearly three decades. In 1995 he founded Virtual Growth, the nation’s first cloud-based accounting service, and quickly grew it into a market leader. After being acquired by Insperity, Stephen was brought on as president of Insperity’s Financial Management Services division, serving two years before leaving to build GrowthForce.

He also spent seven years working at Amnesty International USA—first overseeing 300 percent growth as CFO, then raising over $20M a year as Director of Development. Stephen’s time at Amnesty reinforced his life-long commitment to giving back to the community. As a result, non-profits represent 35 percent of GrowthForce clients.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Business owners are feeling a lot of pressure in this new normal.
• Pricing is harder if you’re not confident of the value that you’re bringing.
• Stephen addresses the issues around discounting, then provides the math:
  • If you have a 40 percent gross profit and you give a 10 percent discount, you need 33 percent more sales to generate the same bottom line.
  • If you have a 30 percent margin, you need 50% more sales to generate the same bottom line.
  • If you have a 40 percent gross profit and you ADD 10% to your pricing, you can sell 20 percent less and make the same money. 
  
  
• When Stephen let an objective person price his jobs, his fees started going up.
• Stephen shares some case studies and classic mistakes from clients that allow him to share their data.
• The accounting industry was designed for compliance.
  • Financial accounting is designed for external users. For example, it is your CPA’s job to help you pay as little in taxes as you’re legally allowed to, to get you through an audit, and to keep the banks happy.
  • Management accounting is about internal users and about understanding your unit economics, the profitability on each job. 
  
  
• Stephen explains the benefits of automated activity-based costing and cautions against time-leakage.
• Things to consider to gain confidence in pricing appropriately:
  • Stephen offers accounting system suggestions to set up reports to show you your “income minus your cost of goods sold equals your gross profit”. Your gross profit percentage is the most important number of every financial statement. This will tell you if you’re pricing right.
  • Which clients should you fire? Which clients should you re-price?
  • How do you spend money to make money in sales and marketing?
  
  
• Dr. Sabrina explains the 80/20 principle: 20 percent of your clients and customers are responsible for 80 percent of your revenue. If you focus on increasing revenue from the top 20 percent by 25 percent, you’re at choice and you can get rid of 80 percent of your clients and customers.
• One mistake is to think that your biggest account is your best client.
• When you have the appropriate margin in your pricing you are able to run a much more simplified, streamlined business.
• Whatever you do, don’t discount your services during an economic downturn. Don’t make decisions based on fear. You need to have an attitude of gratitude.
• Surround yourself with people who have a positive mindset and who are looking for growth.

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

Dr. Sabrina invites a valued member of the Tap the Potential team to join her on the podcast.

As a Tap the Potential strategist, specializing in Profit First and Pumpkin Planning, Stacey Seguin supports Tap the Potential’s efforts in identifying ways for clients to save money, MAKE more money and free up their time. 

Listen in to this thoughtful conversation! It’s a peek inside the internal discussions of the Tap the Potential Strategists team. Tap the Potential clients have more time for what matters to them and more money in their bank account than they’ve ever had. This conversation offers a fly-on-the-wall glimpse into how our strategists accomplish this with our clients.  

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Being a business owner and entrepreneur is a lifestyle that can easily lead to burnout.
• Stacey relates her own compelling story of entrepreneurial burnout.
• The Tap the Potential team has compassion for what business owners are going through because they’ve all lived that life.
• Fortunately, there can be great things waiting on the other side of that burnout.
• A powerful, simple question: What has to change in order to make this possible?
• Getting sleep and regular downtime is imperative to reducing stress.
• A comparative advantage (vs. competitive advantage) creates opportunities for an increase in profit.
• Discover why your industry standard may be your own self-imposed glass ceiling.
• Tap the Potential focuses on ways to better their clients’ businesses.
• Stacey and Dr. Sabrina field a question on a business owner’s desire to open a second location.
• How to know when you are maximizing the profit potential in your business.
• When we decide to sell our business, we need to be able to show that the business can support a C-suite executive (or several!) and pay appropriate compensation. If we can’t, it’s not sellable.

 

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

Diane Gilson joins Dr. Sabrina and Mike Bruno on today’s episode to discuss the value of using job costing to manage your gross profit margin, which translates into more money that you keep.

Although this conversation centers around job costing in the construction industry, there are valuable nuggets of information for those listening who may be in other industries, such as how to be a more effective business owner. Listen in for an inside look at how to design a business that supports the lifestyle you desire. 

If you are a regular listener of the Profit By Design podcast, you’ll know that it’s not about how much money you make, it’s about how much money you keep!

Diane Gilson created Info Plus(+) Accounting® In 1994 to help business owners establish job-cost accounting systems so they can access critical day-to-day operations data using QuickBooks as their primary management accounting tool. 

Diane’s passion is designing, customizing, and upgrading accounting systems and financial controls for small to mid-sized construction and manufacturing companies. 

Her online workshops offer job-cost and management accounting training using QuickBooks and Intuit Enterprise Solutions—as well as in-house products—to teach, trouble-shoot, and coach clients and other accounting professionals throughout the United States. 

As a published author, speaker, and professional QuickBooks trainer with over 30 years of accounting experience, she is viewed as a leader in her fields of expertise. 

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Diane addresses the impact on business owners who are not aware of their margins.
• Diane details five ways that job costing dramatically increases your profitability:
  1. Locate costs that you haven’t billed out.
  2. Spot and eliminate your low-profit and loser jobs.
  3. Change your business niche.
  4. Review estimate versus actual reports.
  5. Use a 3-step combination method to increase your prices:
     1. Decrease your costs of goods sold or production costs by 5%.
     2. Increase your prices by 5%.
     3. This increases your gross profit margin of 10%. Gradually increase volume.
     
     
  
  
• Once business owners start seeing numbers that make sense and are set up in a logical format, it can change their lives.
• Investing 20-40 hours is all it takes to learn the job costing system. This could mean an extra $100,000 a year.
• If you’re in an industry where job costing is not part of the conversation, Dr. Sabrina encourages you to be curious about what it might look like in your business, how it would empower you to have that information at your fingertips, and what different decisions would you be able to make with that information.
• Diane covers the hidden costs of hiring people for your team and how that eats away at the gross profit margin.
• Dr. Sabrina shares the 80/20 principle, which is where 20 percent of clients are responsible for 80 percent of your revenue. Clients with Tap the Potential’s Better Business, Better Life™ programs learn this principle and how to zero in on the best clients to work with. In this way, you do not need as many team members, and those team members you do have tend to be A-players, who are able to focus on how best to serve your clients.
• Don’t count on somebody else to learn this job costing process for you. The business owner should be responsible for learning the process and then can later decide if this should be assigned to another team member.

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp

Sign up for the Better Business, Better Life™ Summit!

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

Vision, mission, and values. Holding yourself accountable to the same standards of performance as those around us. Differentiating between your normal, and someone else’s. All this, and more, as Wayne Mullins joins Dr. Sabrina and Mike to discuss “Building a High Performance Culture”.

As someone who hates structure, Wayne found it liberating and found that it allowed him the head space to not worry so much once he learned to become more rigid and structured in his personal life. There’s a ton of wisdom to be heard in this podcast, you don’t want to miss any of it! You will probably want to listen to it a few times!

Wayne Mullins is a passionate entrepreneur committed to creating remarkable experiences, and building a team at Ugly Mug Marketing that produces extraordinary results for their clients. He has been called “the guru’s guru,” as he regularly called upon for advice from Inc. 500 CEO’s, New York Times Best Selling Authors, to Silicon Valley startups.  However, his passion is helping entrepreneurs challenge their assumptions, create value from places they’ve never looked, and having more freedom than they previously believed possible.  He has worked hands-on with clients in over 100 different industries, and from every corner of the globe.  

Ugly Mug Marketing, which Wayne founded 10 years ago, has won the praises of some of the leading influencers in the business world, such as, Neil Patel (Founder of QuickSprout & Kissmetrics), Chris Voss (New York Times Best Selling Author of Never Split the Difference), and Ari Weinzweig (Co-Founder of Zingerman’s).

Wayne’s work directly influences more than one hundred thousand entrepreneurs annually through his blog, books, and training programs.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• Wayne explains the concept of “context switching”, a concept from Todd Herman, who teaches a program called The 90 Day Year. Concept switching is when you’re working on a project to be completed within a specified block of time, but something else comes up that needs to be addressed. So you switch over to that, and when that fire is put out, you jump back over to the project. After a period of time, you realize that you haven’t accomplished anything because you’ve spent so much time jumping back and forth.
• In the middle of the switch, there’s another concept called “Attention Residue”, as explained by author, Cal Newport in Deep Work. Attention residue is the lag between jumping from working on the first project to jumping into working on the urgent situation. Attention residue takes time, energy, and effort between working on those two contexts, and is detrimental to productivity.
• Wayne is an avid reader and researcher, and often borrows ideas that he finds particularly compelling, and gives as much credit to the author or originator as possible.
• Vision, mission, and values: if you don’t prioritize and make time, energy, and effort for these, then it directly impacts and influences the culture that you create.
  • Vision: where you’re going, and where you want to end up at in some point in the future. Looking 3 years into the future helps you set the destination of where you want to get to.
  • Mission: the plan of action. What are we going to do to bring that vision to life? That’s what drives and motivates us.
  • Values: core principles, the things that we believe in and that will stand as guideposts along our path, to ensure that in the pursuit of our vision, we aren’t losing our way. We’re staying true to the course that we have set out.
  
  
• Feeling like you have to go back to the basics, back to square one, is one of the biggest frustrations of the entrepreneur.
• Very early on, Wayne had the pleasure of coming into contact with Ari Weinzweig, Entrepreneur and Co-founder of Zingerman’s Deli. In a personal conversation, Ari divulged that he considered himself the “CRO” of his company. When asked what that meant, he explained it as “Chief Reminding Officer”, as he considered it his responsibility to constantly remind his leadership and his team about where they were going, why they were going there, and why it was important.
• Dr. Sabrina explains that not only do they have immutable laws at Tap The Potential, they also have General Operating Principles, as inspired by Josh Fonger, of Work the System.
• Wayne discusses the Enneagram of Personality profile and the nine different personality traits, as discussed on the Andy Stanley Leadership Podcast.
• The nine different personality traits are nine NORMALS. Wayne was struck by how what’s normal for him is not necessarily normal for someone else on his team.
• The difference between intentions and actions, as Wayne heard on another episode of Andy Stanley’s Leadership Podcast, is that we judge ourselves based on our intentions. We judge others around us based on their actions. Where we might give ourselves a pass because we intended to do something but didn’t, we judge others based on they didn’t get it done today, and why didn’t they get it done today.
• Wayne shares an unsettling story about Dan Kennedy, and the impact it had on him to do what he says he’s going to do, and when he says he’s going to do it. The actions that we take every day, or the actions we don’t take every day, is what builds our lives, our businesses, and our careers. Wayne explains his takeaway from Marshall Goldsmith’s book, Triggers.
• Measuring performance and bringing balance to opposing forces.
• “The Field of Play” concept by Charles Coonradt, in The Game of Work.
  • Terminal out of bounds - stealing, lying, cheating, etc
  • Operational out of bounds - things that are more infractions. You’re out of bounds but you’re going to get a warning, and need to step back into bounds
    • Wayne mentions his own “Ugly Mug Expectation Guide”, that applicants review during the hiring process.
    
    
  • End zone - where you want the employees to get to
  • RRR (Results to Resources Ratio) - Goal Setting / Performance Measurement System
  
  
• John Doerr outlines another form of Goal Setting / Performance Measurement System, called OKR (Objectives and Key Results), in Measure What Matters. John happens to be one of the first investors of Google!
  • Profit goal
  • Fulfillment or service goal
  • Future work goal
  • Creates a peer-to-peer accountability
  
  
• Wayne outlines his various meetings structures.
• When you set goals for a year’s period, it’s so far in the future that we tend to delay and put off until it’s too late to make progress toward those goals to actually reach it by the end of that year. In The Twelve Week Year: Get More Done in 12 Weeks than Others Do in 12 Months, by Brian P. Moran, Brian says that you should treat every 12-week period as if it were its very own year. Your question then becomes, what can you accomplish within the next 12 weeks?
• Here’s why you want to encourage healthy conflict!
• Considering the costs of hiring A-players - it’s not an expense, it’s an investment. 

Links and Resources:

Download Your Free Workbook: How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!

Hi, Profit Designers! As we at Tap the Potential gear up for a number of special, upcoming projects, we’re taking this time to bring you some of our most popular episodes from the vault! We hope you enjoy it, and we’ll be back with new episodes for you very soon! 

Dr. Sabrina sits down with her guest, Christine Rico, to shed some light on things that we may not be thinking about in our business that have a pretty significant impact on whether or not we’re building a profitable, sustainable business.

Christine Rico is a good friend and colleague of Dr. Sabrina. She is the owner of CFO On Speed Dial and a fellow Profit First Professional. Christine is a financial consultant, business growth expert, and social entrepreneur who got her start in financial management while keeping the books for Cooperative Home Care Associates in the Bronx, NY more than 20 years ago. The Cooperative was then a start-up and is now the country’s largest worker-owned business. At CFO On Speed Dial, Christine and her team help business owners set and reach financial goals and build companies that are making healthy, sustainable food products, installing renewable energy systems, and growing high-impact consulting businesses. Christine works with companies to improve profitability, craft expansion plans grounded in the company’s overall goals and vision, and get the cash that businesses need to grow. She is on a mission to close the gender-revenue gap by helping women-owned companies accelerate growth.

Profit by Design is a Tap the Potential Production in collaboration with Small Business Consulting Group.

Show Highlights:

• The “Gender Revenue Gap”: While there is growth in the number of companies owned by women, the percentage of revenue that these women-owned companies bring in is appalling.
• Growing your company in incremental steps for the short term may be reality, but you have to know where you’re going.
• If you don’t have a big dream that you’re aiming for, it’s really hard to get outside of the day-to-day and what you think you can accomplish next.
• What is your big dream?
• What impact would it have if your business is bigger?
• Christine shares her vision and the impact she hopes for, with CFO on Speed Dial.
• Christine recommends reading Profit First by Mike Michalowicz for structure in how you think about cash in your business and gives an overview of her five fundamentals needed in order to move to the next level in business.
• Dr. Sabrina shares her own personal story about her introduction to the Profit First philosophy.
• The distinction between social impact and charitable giving and some ways we might be thinking about these in our business.
• Ideas on how to measure impact.
• Christine describes the role of a CFO.
• Checklist of infrastructure needed to scale a business.

Links and Resources:

American Express Annual Report on the State of Women-Owned Business

How to Make Your Time Worth $10,000 an Hour

Register your A-Player team members for Tap the Potential’s Leadership Bootcamp:

www.TapThePotential.com/Leadership

NEW! Facebook Group: Entrepreneurs Take Your Life Back! Upon joining, you’ll get access to exclusive, free, mini-trainings from Dr. Sabrina, including the Better Business, Better Life™ jumpstart, as well as the “How to Hire the Best” jumpstart! No charge to join! Let’s get to know each other!

BUY THE BOOK ON AMAZON: How to Hire the Best: The Entrepreneur's Ultimate Guide to Attracting Top-Performing Team Members by Dr. Sabrina Starling PhD

How to Hire the Best Toolkit

COURSE: How to Hire the Best

Taking care of yourself is important now more than ever. Are you ready to take your life back from your business?

The FIRST STEP is taking our Assessment at:

https://www.tapthepotential.com/assessment

NEXT, meet with our Success Team Lead to debrief your results.

THEN, join our Better Business, Better Life™ program.

Dr. Sabrina’s WEBSITE

Dr. Sabrina’s PODCAST - PLEASE RATE & REVIEW!

Profit by Design, a Tap the Potential production in collaboration with Small Business Consulting Group

For Resources & Tools from Sponsors - https://www.profitbydesignpodcast.com

Subscribe & Share Podcasts! - https://www.profitbydesignpodcast.com/podcasts/

Facebook Group: https://www.facebook.com/groups/ProfitByDesign/

Books Frequently Mentioned:

The 4 Week Vacation by Dr. Sabrina Starling PhD - COMING OCTOBER 2021!

How to Hire the Best: The Entrepreneur's Ultimate Guide to Attracting Top-Performing Team Members by Dr. Sabrina Starling PhD

How to Hire the Best: The Rural Business Owner's Ultimate Guide to Attracting Top Performing Employees by Dr. Sabrina Starling PhD

How To Hire The Best: The Contractor’s Ultimate Guide to Attracting Top Performing Employees by Dr. Sabrina Starling PhD

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz

The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz

Fix This Next: Make the Vital Change That Will Level Up Your Business by Mike Michalowicz

Mentioned in this episode:

Jumpstart Workshop

We know that small business owners need a growth plan that delivers. In this 3-day workshop, you’ll understand how to:

- Design Sustainable Profitability: We’ll help you calculate your profit potential and design a plan for profit in the year ahead and many more to come!

- Simplify Your Business: Discover the profit that’s hiding in plain site. Then you’ll see a clear path to simplify to grow.

- Identify Your Unique Value: What if you could charge more and free up your time? You can once you identify where you can deliver more value than anyone else.

Visit https://tapthepotential.com/jumpstart to get registered today!