Are you tracking these metrics? | Issue #234
What are the best metrics to track through economic uncertainty?
Uncertainty continues. Only this week, the markets have been spooked by the collapse of SVB Bank and Credit Suisse. Fears of economic contagion are rife. On the one hand, it looks as if we’re going to avoid a recession; on the other, inflation is staying stubbornly high. Speaking to our clients, many are experiencing a softening in their marketplaces. Opportunities are there, but they’re harder to close.
At times like this, getting back to fundamentals and tracking the right metrics is essential. Only then can you make an informed plan. Often, clients are measuring things they’ve always measured without knowing why. The easy things. They’ll spout statistics proudly, but many of them are meaningless. We tell them they must focus on the stuff that makes a difference, even if it’s complicated.
We recommend measuring specific metrics now as they will make it easier to navigate the choppy waters ahead. So what are they?
Winning The Wealth Game by Knowing Your Tax Law with Tom Wheelwright
Do you really understand how tax work in your country? Our guest this week believes that 80% to 90% of people pay taxes and complain about the rich not paying. But, why do the rich don’t pay taxes? Our guest says it’s because smart entrepreneurs and wealthy people understand the laws. What people don’t realise is that tax law is primarily a series of incentives for entrepreneurs and investors.
This week on The Melting Pot, we learned from Tom Wheelwright, the CEO and founder of Wealth Ability, a network of CPA firms in the US and Canada. He’s spent 25 years buying, building and selling CPA accounting, whilst travelling the world with Robert Kiyosaki, author of Rich Dad, Poor Dad, giving financial education to entrepreneurs and investors.
In this episode, Tom tells us about the difference between CPAs and entrepreneurs and how rare entrepreneurial CPAs are. He’s also a Rich Dad advisor and shares the story of how he met Robert Kiyosaki, author of Rich Dad, Poor Dad and how they ended up teaching the fundamentals of business to entrepreneurs all over the world. Drawing from his latest book The Win-Win Wealth Strategy, he talks about what are the seven investments the government will pay you to make.
A fascinating conversation. Download and listen today.
Recommended Podcasts
This Much I Know – The Seedcamp Podcast
Seedcamp invests early in world-class founders attacking large, global markets and solving real problems using technology. Seedcamp provides the infrastructure to fast-track a founder’s vision and create value through immediate access to smart capital, a lifelong community of support and a global network built upon a decade’s experience backing exceptional talent.
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Recommended Reads
The bestselling, award-winning classic on how maverick companies have passed up the growth treadmill to focus on greatness, now in a revised and updated tenth-anniversary edition.
It has long been a business article of faith that great companies, by definition, constantly focus on maximizing their revenues year after year. Yet quietly, under the radar, a growing number of undeniably great companies have rejected the pressure of endless growth to focus on more satisfying business goals.
Veteran journalist Bo Burlingham takes us deep inside fourteen of these remarkable companies that have chosen to march to their own drummer. He shows the leaders of these small giants recognized the full range of choices they had about the type of company they could create and made the choice to pursue greatness by placing other goals ahead of getting as big as possible as fast as possible. And he shows how we can all benefit by questioning the conventional definitions of business success.”
12-week Scaling Up Master Business Course
Verne Harnish reopened the doors to his highly-acclaimed 12-week Scaling Up Master Business Course starting on April 4th, 2023!
This 3-month intensive implementation program is designed for entrepreneurs and leaders like you who want to scale their business to 7-8 figures without the stress or the drama.
In just 3 months, the Scaling Up Master Business Course will help you set the stage for:
- Clarity: See the forest for the trees. Get the professional coaching you need to see the clear path ahead.
- Profitability: Focus on what’s working so you can identify your leverage points and capitalize on them. Eliminate distractions so you don’t waste valuable resources.
- Freedom: Experience 3 types of freedom after implementing Scaling Up: freedom from frustrating time-wasters, freedom from stress and drama, and freedom from worry.
- Impact: Re-focus on what’s most important and have the kind of impact you have always dreamed of. Make your business a catalyst for positivity and prosperity.
Scaling isn’t just about spurring growth but sustaining it. That’s why we’ve included the following bonuses—and why we’re so excited to share them with you today.
Enrol Today
Awaken The Machine [Free Training] – 28th March
Discover why the standard sales model guarantees diminishing returns and how to transition your organization to consistent double-digit growth without increasing operating expenses in a free LIVE training with sales process engineering expert and Author, of The Machine, Justin Roff-Marsh.
28th March at 11AM ET/ 8AM PT/5PM CEST
Quote of the week
“Everything in life has some risk, and what you have to actually learn to do is how to navigate it.”
Reid Hoffman
Dominic Monkhouse
Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.