MergedAnalytics Tracking Image - NoScript
International Business Growth Radio Network
  • WELCOME
    • EXEC TEAM
    • CONTACT US
    • PRIVACY
  • RADIO
    • ON AIR NOW
    • LISTENER GUIDE
    • SHOWS ON DEMAND >
      • BUSINESS PODCASTING MADE EASY
      • ECONOMIC NEWS >
        • IBGR.News
      • EXIT STRATEGIES >
        • An Epic Business Exit
        • Catalytic Conversation$
        • Exitology
        • The CFO Perspective
        • The Entrepreneur's Edge
        • The Smart & Savvy Business Exit
      • FINANCE >
        • Business Econ for a Post Pandemic World
        • Economics For Owners
        • Employee Capitalism
        • Money Matters
        • Practical Solutions to Difficult Problems
        • TurboCharge Your Business
        • Your Money Machine
      • HR / PEOPLE SKILLS >
        • Business and Beyond
        • Business Processes & People Talk
        • Equipping Others
        • Staff It!
        • Success Can Be Fun - With Focus!
        • The People Side of Business
        • Women of Business Thriving
      • INTERVIEWS >
        • Get You Noticed!
        • The Referral Guy Interviews Your
        • The Magnetic Voice
      • LEADERSHIP >
        • Compassionate Leaders of Influence
        • Destiny Road
        • Engaging Your People For Success
        • Leadershift with Col Ajai Lal
        • Leadership Powered by Common Sense
        • Influencing for Global Impact
        • Talk Leadership with Cedrick on the Radio
        • Your Corporate Confidante
      • MARKETING >
        • Building A Multilevel Marketing Empire
        • Level-Up Your Marketing
        • No Nonsense Market Domination
        • Buying Customers
        • #Seriously Social
        • Results Oriented Marketing
      • MINDSET >
        • Building Success Habits
        • Building You to Build Your Business
        • Entrepreneurial Mindset
        • Peak Impact Mentorship
        • Guidance To Wealth
        • The Hero Within
      • OPERATIONS >
        • Build It!
        • Building In Front of You
        • Building In Front of Your 2
        • Lead Lean
        • Pencils & Pistons
        • Planning Out Loud
        • Processes Under Control
        • The Ralph Peterson Radio Show
      • SALES >
        • Beyond The Method Selling
        • Inside The Customer
        • Sell It!
        • Serving Up Sales
      • STARTUPS >
        • A Business Primer for Startups
        • A New Business Model For Startups
        • Adulting In My Purpose Business Edition
        • Building Startup Operations
        • Creating A Consulting (Improvement) Business
        • How To Start A Consulting Firm
        • Survival Mode
        • The Geriatric Entrepreneur
        • Your Business 2.0
        • Z Gen Entrepreneurship
      • STRATEGY >
        • #OwnrLife
        • Better Your 4 U
        • Build Your Core for Dynamic Partnerships
        • Grow It!
        • How to Avoid Becoming the 80%
        • How To Become the Top 5%
        • How to Move Beyond the 15%
        • Living the Life .. On YOUR Terms
        • Own It!
        • ReImagine Your Business
        • The Business Owner's Bookshelf
        • The Self Managing Organization
        • Tenacious Top of Mind Business Insights
    • MEET THE HOSTS >
      • Ben Gioia ("joya")
      • Bert Robinson
      • Chris Mayfield
      • Crystal Y. Davis
      • Donna Kunde
      • Doug Thorpe
      • Ellen McIlhenny
      • Glenda Thompson
      • Jason "Wally" Waldron
      • Jeremy Gray
      • Jörn "Joe" Menninger
      • Kevin Beers
      • Lisa Askwith
      • Londina Cruz
      • Mike King
      • Monique McDonald
      • Patty Lawrence
      • RJ Lewis
      • Sarita Johan
      • Steve Sweeney
      • William Eastman
    • JOIN THE TEAM >
      • BECOME A HOST
      • BE A SPONSOR
  • CONSULTING
    • HOST PACKAGES
    • ADVERTISING PACKAGES
    • BUSINESS MAKER PACKAGES
    • FRACTIONAL CONSULTANTS
  • NEWS
    • E-NEWSPAPER
    • NEWS BLOG
    • NEWS PODCASTS
  • RESOURCES
    • START HERE
    • SHOW NOTES
    • GROWTH APP
    • FACEBOOK COMMUNITY
    • LINKEDIN COMMUNITY
    • EVENTS
    • IBGR MERCHANDISE
IBGR.NETWORK

Show Notes

DOWNLOAD. LISTEN. ENGAGE.

Never Leave Money On The Table - Scrutinize Variable Costs - Wendy Dickinson

30/10/2020

0 Comments

 
Picture

​Wendy Dickinson - "Catalytic Conversation$"

Introduction

Today let’s turn our focus to variable costs.  The goal is to reduce your variable costs in meaningful ways to increase your profitability.  I’m working alongside you - as you work ON your business.  

Most of the world has enjoyed a number of years of relative profitability.  COVID19 has interrupted the way most do business, which for many, led to a decrease in profitability.  We know the recovery process will be gradual in many industries.  

As the Executive in charge, you are to lead yourself, your team, the ideas that you and the team generate, and the RESULTS.  For you, COVID19 is a Catalyst for Change.  How about this for a new motto?  Ready for anything - anytime.

I challenge you to make this the moment where you build out a dashboard full of metrics that deliver the messages that you need to successfully store 4 long term options in your back pocket - to build your family’s wealth, to grow your influence, to fund your retirement or next project.

If you need help, consider becoming a member of IBGR’s Community of Commerce.
As a member of IBGR's Community of Commerce you can:
  1. Follow other users including the OnAir Talent and Executive Team at the station.
  2. Ask and answer questions about starting, growing, and exiting the business from our OnAir team and each other.
  3. Follow any member of the Community to stay abreast of their latest business insights as well as building your own following.
  4. Start discussions to stimulate input from other members of the Community.
  5. Create and vote in Community polls.
  6. Post and comment on posts and blogs.
  7. Access and share content entrepreneurs and business owners can use.
So, roll up your sleeves, let’s get to work.
​
Listen>Apply>Engage
​
Show Objectives - The Why
​I hope you caught the last episode of my show with my guest, Mick Wienholt.  (You can catch up with Mick here: mick.wienholt@schooleymitchell.com) We worked on fixed costs reductions and the ways that you can increase profitability in a meaningful way.  We are going to do the same thing today with variable costs.

Key Issues - Owner Perspective:
  1. Integrating frugality as part of the company culture.
  2. Clarity in focus on profitability, reduction of costs (especially tail spend).
  3. Use of a growth mindset by everyone in the, an expanded sense of awareness of the cycle of spending in the company as a whole.  
Frugality in the allocation of resources starts with YOU.  Attention to the KPI’s around cost structure allows you to generate those options for the future - the sale of the company, the reinvention of the company by you, the successful onboarding of investors, or allowing a family member to buy out your interests in the company.


What You Need to Know - The What
  • EPISODE E5.03.3 Pruning Fixed Costs for More Than Pennies
  • EPISODE E5.02.3 Implementing The Profit Plan - The Good, The Bad, The (O)X
  • Determine the mindset of employees regarding spending.
  • Identify the level of awareness around spending’s impact on profitability.
  • Explore attitudes in expending time and energy as well as money.

What You Need to Do​​ - The How
  1. Look at the timing of when  money goes out and the revenue comes in.  Make any adjustments to improve your timing in cash flow.
  2. Determine if every expense listed is essential.
  3. Itemize tail spend.  Identify buying/spending habits.  Implement a plan to mitigate & reduce costs.
  4. Tie senior management compensation to frugal leadership.
  5. Challenge research & development to do more with less.

Shows
  • Previous: EPISODE E5.03.3 (O)X - Pruning Fixed Costs For More Than Pennies
  • Next: EPISODE E5.05.3 (O)X - Planting The Money Tree - Profitability From Retained Earnings Investments
Resources
  1. Secrets to a Successful Startup: A Recession Proof Guide To Starting, Surviving, & Thriving In Your Own Venture, Trevor Blake, New World Library, 2020.
  2. “3 Lesson In Corporate Frugality From The Developing World”, Fast Co, by Navi Radjou, Jaideep Prabhu, & Simone Ahuja, 5/25/12.
  3. “How to Make Your Employees Embrace Your Frugal Business Values”, Frugal Entrepreneur, 3/12.
  4. “It’s Smart to Be Frugal - Something Many Forget During Good Times”, LinkedIn, Rob Bernshteyn, 10/25/18.
  5. “Frugal Leadership - The Key To Co-build The Post COVID World”, Medium, by Navi Radjou, 2020.​​

E5.04.3NA

0 Comments



Leave a Reply.

    new choice for BUSINESS SEARCH

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Aaron Lee
    Ajai Lal
    Ally Nitschke
    Angela Chaney
    Angela Hooper Menifield
    Arthie-moore
    Ben Gioia ("joya")
    Bert Robinson
    Bijay Kumar Khandal
    Bill Kelly
    Bishop Cummings
    Bob DiGiacomo
    Brandon Souba
    Building Success Habits
    Business Podcasting Made Easy
    Cedrick Lafleur
    Celia Powell
    Charles George
    Crystal Y Davis
    Damian Johnson
    David Wilson
    Donna Kunde
    Ellen Mcilhenny
    Fady-g-bader
    Florin Lungu
    Gaby Awad
    James Bryant
    Jan Robberts
    Jeremy Gray
    Johanna Rincon
    John-richards
    Kasfia Rashid
    Kevin Beers
    Laura Bell
    Lisa Askwith
    Londina Cruz
    Monique McDonald
    News
    Nicole Rankine
    Patty Lawrence
    Prerona Roy
    Raj Kapur
    Ramdas Shenoyy
    Ravin Papiah
    Rick Carter
    RJ Lewis
    Russell Colbourne
    Sadika Kebbi
    Sarita Johan
    Scott Geller
    Season 10 Executive
    Season 10 Finance
    Season 10 Operations
    Season 10 People
    Season 11 Executive
    Season 11 Finance
    Season 11 Operations
    Season 11 - Operations
    Season 11 People
    Season 12 Customers
    Season 12 Finance
    Season 12 Operations
    Season 12 People
    Season 1 Coaching
    Season 1 Consulting
    Season 1 Customers
    Season 1 Executive
    Season 1 Finance
    Season 1 Operations
    Season 1 People
    Season 1 Strategy
    Season 2 Customers
    Season 2 Executive
    Season 2 Finance
    Season 2 Operations
    Season 2 People
    Season 3 Consulting
    Season 3 Customers
    Season 3 Executive
    Season 3 Finance
    Season 3 Operations
    Season 3 People
    Season 4 Customers
    Season 4 Executive
    Season 4 Finance
    Season 4 Operations
    Season 4 People
    Season 5 Customers
    Season 5 Executive
    Season 5 Finance
    Season 5 Operations
    Season 5 People
    Season 6 Consulting
    Season 6 Customers
    Season 6 Executive
    Season 6 Finance
    Season 6 Operations
    Season 6 People
    Season 7 Customers
    Season 7 Executive
    Season 7 Finance
    Season 7 Operations
    Season 7 People
    Season 8 Finance
    Season 8 Operations
    Season 8 People
    Season 9 Customers
    Season 9 Executive
    Season 9 Finance
    Season 9 Operations
    Season 9 People
    Simone Douglas
    START HERE
    Steve Sweeney
    Teena Ogbugoh
    Tracie Hines Lashley
    Vicki Abraham
    Wendy Dickinson
    William Eastman

    RSS Feed

Radio

Become a Host
Get the Listener Guide
Contact Us​

SOCIAL MEDIA

Join our Facebook Group
​Connect on LinkedIn
BTS on YouTube

365 Business Maker

Grow Your Business
Apply to Work With Us
Network and CONNECT

free resources

Download the Growth App
Download the Checklist
Download the Podcasts

Listen Live ON THE FOLLOWING APPS & NETWORKS

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture

Search IBGR On These Podcast Platforms

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture

SPONSORS & AFFILIATES

Picture
Southern Virginia Regional Chamber
Picture
Picture
Influence With A Heart
Picture
Picture
Book Design and More
Picture
Picture
Startup Raven
Picture
Picture
Coach Accountable
Picture
Black Links Global
Picture
Click Funnels
Picture
Picture
Airmeet
Picture
SCHEDULE A NO-RISK, NO OBLIGATION CONSULTATION WITH THE IBGR TEAM
866.4ME.IBGR (866.463.4247)
IBGR.Network is Veteran owned and operated. 
Site powered by Weebly. Managed by Radio.co, Designed by gWORX Media.
  • WELCOME
    • EXEC TEAM
    • CONTACT US
    • PRIVACY
  • RADIO
    • ON AIR NOW
    • LISTENER GUIDE
    • SHOWS ON DEMAND >
      • BUSINESS PODCASTING MADE EASY
      • ECONOMIC NEWS >
        • IBGR.News
      • EXIT STRATEGIES >
        • An Epic Business Exit
        • Catalytic Conversation$
        • Exitology
        • The CFO Perspective
        • The Entrepreneur's Edge
        • The Smart & Savvy Business Exit
      • FINANCE >
        • Business Econ for a Post Pandemic World
        • Economics For Owners
        • Employee Capitalism
        • Money Matters
        • Practical Solutions to Difficult Problems
        • TurboCharge Your Business
        • Your Money Machine
      • HR / PEOPLE SKILLS >
        • Business and Beyond
        • Business Processes & People Talk
        • Equipping Others
        • Staff It!
        • Success Can Be Fun - With Focus!
        • The People Side of Business
        • Women of Business Thriving
      • INTERVIEWS >
        • Get You Noticed!
        • The Referral Guy Interviews Your
        • The Magnetic Voice
      • LEADERSHIP >
        • Compassionate Leaders of Influence
        • Destiny Road
        • Engaging Your People For Success
        • Leadershift with Col Ajai Lal
        • Leadership Powered by Common Sense
        • Influencing for Global Impact
        • Talk Leadership with Cedrick on the Radio
        • Your Corporate Confidante
      • MARKETING >
        • Building A Multilevel Marketing Empire
        • Level-Up Your Marketing
        • No Nonsense Market Domination
        • Buying Customers
        • #Seriously Social
        • Results Oriented Marketing
      • MINDSET >
        • Building Success Habits
        • Building You to Build Your Business
        • Entrepreneurial Mindset
        • Peak Impact Mentorship
        • Guidance To Wealth
        • The Hero Within
      • OPERATIONS >
        • Build It!
        • Building In Front of You
        • Building In Front of Your 2
        • Lead Lean
        • Pencils & Pistons
        • Planning Out Loud
        • Processes Under Control
        • The Ralph Peterson Radio Show
      • SALES >
        • Beyond The Method Selling
        • Inside The Customer
        • Sell It!
        • Serving Up Sales
      • STARTUPS >
        • A Business Primer for Startups
        • A New Business Model For Startups
        • Adulting In My Purpose Business Edition
        • Building Startup Operations
        • Creating A Consulting (Improvement) Business
        • How To Start A Consulting Firm
        • Survival Mode
        • The Geriatric Entrepreneur
        • Your Business 2.0
        • Z Gen Entrepreneurship
      • STRATEGY >
        • #OwnrLife
        • Better Your 4 U
        • Build Your Core for Dynamic Partnerships
        • Grow It!
        • How to Avoid Becoming the 80%
        • How To Become the Top 5%
        • How to Move Beyond the 15%
        • Living the Life .. On YOUR Terms
        • Own It!
        • ReImagine Your Business
        • The Business Owner's Bookshelf
        • The Self Managing Organization
        • Tenacious Top of Mind Business Insights
    • MEET THE HOSTS >
      • Ben Gioia ("joya")
      • Bert Robinson
      • Chris Mayfield
      • Crystal Y. Davis
      • Donna Kunde
      • Doug Thorpe
      • Ellen McIlhenny
      • Glenda Thompson
      • Jason "Wally" Waldron
      • Jeremy Gray
      • Jörn "Joe" Menninger
      • Kevin Beers
      • Lisa Askwith
      • Londina Cruz
      • Mike King
      • Monique McDonald
      • Patty Lawrence
      • RJ Lewis
      • Sarita Johan
      • Steve Sweeney
      • William Eastman
    • JOIN THE TEAM >
      • BECOME A HOST
      • BE A SPONSOR
  • CONSULTING
    • HOST PACKAGES
    • ADVERTISING PACKAGES
    • BUSINESS MAKER PACKAGES
    • FRACTIONAL CONSULTANTS
  • NEWS
    • E-NEWSPAPER
    • NEWS BLOG
    • NEWS PODCASTS
  • RESOURCES
    • START HERE
    • SHOW NOTES
    • GROWTH APP
    • FACEBOOK COMMUNITY
    • LINKEDIN COMMUNITY
    • EVENTS
    • IBGR MERCHANDISE