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We're continuing our conversation about how us business owners can improve as individuals, and today's theme is that how you spend your time really matters. We're bringing in two concepts: The Rainmaker's Dilemma, and the “Value Ladder” from the book “Time Really Is Money: How to Work for $5,000 Per Hour” by Rob Slee. Rob...
Everybody understands what productivity is. It’s basically doing more with less. The former chairman of Procter & Gamble once said productivity is everything in every business. Sean Hutchinson, CEO/Partner of SVA Value Accelerators, talks about the productivity accelerator which is the fourth out of seven value accelerators. Sean says the reason that it’s in the middle is that it provides an important inflection point built on what’s happened before and it’s a predictor of what happens in the future. Learn more about productivity as Sean talks about the tools for productivity, the value-added process mapping, quality control, risk reduction, and more. — Watch the podcast: Listen to the podcast: Productivity: Creating The Path To Higher Valuation with CEO/Partner Sean Hutchinson Creating The Path To Higher Valuation with CEO/Partner Sean Hutchinson We’re doing a continuation deep dive from an original podcast. We did it with Sean Hutchinson of SVA Value Accelerators (http://buildvaluetoday.com/) . What we’re going to be talking about is part of the Value Acceleration methodology. We’re going to be talking about the productivity portion of that. Sean, thanks again. The former chairman of Procter & Gamble once said, “Productivity is everything in every business.” This particular piece of our Value Accelerator, the Productivity Accelerator, comes four out of seven. The reason that it’s in the middle is that it provides an important inflection point built on what’s happened before and it’s a predictor of what happens in the future. Value creation and value acceleration tend to not be linear. It’s more of a slow climb and then there’s an inflection point where it takes off. The exponential value curve is a scoop. One of the things that inflects that curve and gets it to move into a steep incline is increases in productivity. Everybody understands what productivity is but it’s doing more with less. There are a couple of different places in your numbers that you’re going to see it on your financial statements, but one place is in the gross margin. Not the net margin necessarily. The gross margin is the indicator of financial productivity in the organization, of essential throughput of the assets. How quickly did they get through the organization? How quickly did they produce income cash? How quickly did they generate margin? Productivity is about not just efficiency, but it’s also about velocity. It’s also about the efficient use of capital within the organization. What are the tools that we use? One tool is called $50 to $5,000. It is a concept that came out of Rob Slee’s book, Midas Managers (https://www.amazon.com/Midas-Managers-Rob-Slee/dp/0979047803) . It’s an amazing concept and it’s been effective with our clients. If I go into a management team for instance or even talking to an owner and I say, “How much of your day do you spend doing $50 an hour work?” If they don’t land immediately on a percentage, which tends to be in the 90% of the day or above then the answer is way too much. That’s an immediate acknowledgment that productivity in the organization even at the top is dampened. It’s restricted. The reason for that is that not just the CEO, but everybody else in the organization is working on the wrong stuff. There may be delegation problems. There may be process problems. There may be culture and communication problems. At the end of the day, stuff’s getting stuck in the organization. What we want in order to create economic value is for the highest-level strategic thinkers in the organization to be doing $5,000 an hour work. That’s where the juice gets put into the deal. Being aware is one piece of it. How much $50 an hour work are you doing? What are the things that are $50 an hour work? How quickly and how efficiently and...
In this episode Josh spends time once again with Rob Slee, Founder at MidasNation and Robertson & Foley and author of Private Capital Markets. Rob and Josh discuss the idea of value worlds, where businesses have multiple valuations based on the purpose of the valuation.
Meet Rob Slee: serial seasoned entrepreneur investor and author. Key points: Lots of opportunities to disrupt industries 'I am 10 iterations of failure in everything I do.' I felt I wasn't learning school because... Build a skill set, once a year Need a positive relationship with failure - Most business books are written for big corporate life I am a niche aholic, "niche conglomerate" ask people what they buy The only thing in common among entrepreneur is time Only focus on the activities that adds value most startup fails because they focus on the least value-add activities. We are told what to work on whereas we should identify the high value. After you have the skillset it's not about how much time you work on. Talk to people: what would you need in your business. Ask for help. You will be killed in your blind post U2U: work in small businesses, that's good, not just business plan comp. Learn how to communicate Own your time. Just knowing that activities have value change the behaviour. half the planet owns their own Links: email: rob@timeisreallymoney.com Website: Timereallyismoney.com If you have what it takes you can apply to share your story on air. CLICK HERE
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Rob Slee, author of Time Really is Money, wants to help you scale to a: $50/hour business (where you are the value proposition) $500/hour (where you manage employees) $5000/hour (where you only deal with the culture, niches, and business model) $50k/hour (changing industries) $5m/hour (changing the world)
Rob Slee, author of Time Really is Money, wants to help you scale to a: $50/hour business (where you are the value proposition) $500/hour (where you manage employees) $5000/hour (where you only deal with the culture, niches, and business model) $50k/hour (changing industries) $5m/hour (changing the world)
We all know the phrase - "Time is Money." And according to author, Rob Slee, it really indeed is! His latest book, Time Really is Money: How to work for $5,000 gives light into how you can own your time and work smarter. It also shows owners how to create value within the time they have. Rob shares his experience with mentoring owners on value creation to show a connection between fun, wealth, and time along with how we can all "work for $5,000."
This week Josh invites back, Rob Slee, author of Time Really Is Money: How To Work For $5,000 Per Hour. Rob discussed how to work for $5,000 an hour back on Episode 31. This time around, Rob is discussing "Instant Companies", what they are and what is involved in creating one.
Every entrepreneur knows the value of working smarter not harder. The struggle of how to spend your time most wisely is a very real one. Join us as Rob Slee shares his strategies for how business owners can become wealthier by working on more valuable hourly activities. His secret: only engage in issues where you […]
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To our American listeners, Happy Thanksgiving! To our non-American listeners, we are so thankful for you and the support you provide simply by listening and participating in the Profitcast community. Thankfulness is a hot topic this week in the States, and even though Brian has been reminding us to be thankful on a daily basis, because it’s a good and healthy practice, it’s always incredibly meaningful to me when everyone in this country takes an entire day to celebrate being thankful. Many American movies centered around the holidays like to almost glorify the troubled or comedic nature of family gatherings over Thanksgiving and Christmas. It’s represented as the only times of the year when all the family gets together; when the mom and dad with the five homeschooled kids drive to the East Coast where their kids are subsequently exposed to the wild and unbridled nature of the unsupervised public school children of the 80-hour work week brother and sister-in-law. Chaos ensues, but somehow they manage to come full circle so that a moral conclusion can be had by the 90 minute mark, leaving enough time for non-ironic hilarity to ensue. Read more... The post PC 73 | How to Work for $5,000 Per Hour with Rob Slee appeared first on Profitcast: Profit with Your Podcast.
Rob Slee is the Founder of Midas Nation, a community dedicated to helping business owners dramatically increase the value of their firms. Rob is also the President of Robertson & Foley, one of the top private investment banking firms in the United States that provide sophisticated finance solutions to middle market companies located throughout the world. Rob has authored … Continue reading Rob Slee – Author of Time Really Is Money →
In this episode, Rob Slee, Founder at MidasNation and Robertson & Foley. They discuss how business owners should aim toward focusing on $5,000/hour activities.