In this episode of the "Becoming Unleashed" show, Richard Shaull is joined by seasoned fractional CFO, Robert Lee. Together, they explore the challenges faced by business owners in the current economic climate, discussing declining revenues, rising expenses, and the need for strategic adaptation. Robert shares insights from his three decades of experience, emphasizing the importance of a customized approach and highlighting key steps for business resilience.

KEY TAKEAWAYS

• Profitable Growth vs. Unprofitable Growth: Prioritize profitable growth over mere expansion. Evaluate revenue streams, update pricing strategies, and avoid the race to the bottom.
• Margin Attention: Focus on maintaining healthy profit margins. Exit lower-margin segments and explore new revenue streams that align with market demands.
• Expense Review: Conduct a meticulous review of expenses. Differentiate between must-haves, needs, and wants. Build a leaner, more agile operation to navigate economic challenges.
• Team Investment: Redirect investment towards team development, culture building, and leveraging AI for automation. Enhance engagement and readiness for future productivity.
• Opportunistic Marketing: In times of crisis, monitor advertising metrics closely. Adapt marketing strategies based on customer feedback and seize opportunities when advertising costs are on the decline.

QUOTES

• "Should you be planning for growth with the headwinds that exist right now, or are you better just to be a bit more reserved in your growth plans?" - Robert Lee
• "The conversation we're into today is how do I adapt and get prepared for this new economy I'm finding myself in?" - Richard Shaull
• "Don't plan for never within a year. 6 months is a 50 percent savings. If you can survive without it." - Robert Lee
• "Invest in the team, invest in the culture, invest in their development, their learning, in their engagement." - Robert Lee

Connect and learn more about Robert Lee.
LinkedIn: https://www.linkedin.com/in/robert-lee-/

Connect and learn more about Richard Shaull.
LinkedIn: https://www.linkedin.com/in/richard-shaull/
Website: https://www.unleashed.ceo/

In this episode of Becoming Unleashed, We delve into the complex realm of trust in leadership. Richard shares his personal experiences of betrayal and setbacks in business, emphasizing the impact these incidents have on a leader's ability to trust. The discussion focuses on how to navigate the aftermath of betrayal without letting it hinder growth, providing insights on fostering trust, refining leadership approaches, and establishing effective systems for accountability without sacrificing transparency.

KEY TAKEAWAYS

• Trust Amidst Betrayal: Encouragement to learn from past betrayals and not allow them to cloud one's ability to trust in the future.
• Self-Reflection: Emphasizing the importance of introspection and personal development to attract trustworthy individuals.
• Vision-Casting: Creating a compelling vision that inspires individuals to align their goals with the greater purpose of the company.
• Smart Systems for Accountability: Implementing transparent systems that promote accountability without stifling autonomy.

QUOTES

• "It's better to live and lead in a world where I can trust people than live in a world where I'm isolated in my castle and control everything, but have no ability to really empower others."
• "The ticket of entry to success is having some bad stuff happen to you."
• "Trust and have smart systems."

Connect and learn more about Richard Shaull.

LinkedIn: https://www.linkedin.com/in/richard-shaull/
Website: https://www.unleashed.ceo/

In this episode of Becoming Unleashed, Richard Shaull expresses concern for business owners: hiring A-players without draining resources. He shares insights on the myth of affordability and the hidden costs of not investing in top talent. Richard narrates a personal story of the perils faced due to settling for B-players and outlines the imperative to recruit individuals with innate talents, the "A-players," for sustainable growth. Drawing from Patrick Lencioni's model and Maslow's hierarchy, he explores what truly motivates high-performing individuals and unveils strategies to attract, retain, and nurture A-players within entrepreneurial teams.

KEY TAKEAWAYS

• Hidden Costs: Choosing B-players over A-players can lead to extensive time and resource drain, hindering business growth and even causing financial setbacks.
• Defining A-Players: A-players possess unique talents, excel independently in their roles, and outperform others significantly in the long run.
• Attracting A-Players: Understand and cater to the higher-level needs of A-players—belonging to a high-performance culture, personal growth opportunities, and a chance to make a substantial impact.
• Opportunity Recruiting: Leverage your company's vision and growth potential as a magnet for A-players, emphasizing career fulfillment beyond monetary benefits.

QUOTES

• "It's far more expensive in the long run not to hire A-players."
• "A-players have a talent for their role that allows them to produce two to three times more than someone else."
• "The real key to attracting A-players isn't just offering more money or a fancier benefit package."
• "We have a vision and a growth opportunity that can speak to these A-player career needs."

Connect and learn more about Richard Shaull.

LinkedIn: https://www.linkedin.com/in/richard-shaull/
Website: https://www.unleashed.ceo/