Scaling Up Business with Bill Gallagher 073: Howard Shore - You’re Losing a Million Dollars Right Now!
This week’s episode is worth a million dollars! That’s right! Your business is a leaky bucket and there are probably more than a million dollars in it that are leaking away and you’re just not aware it. How can you spot those leaks and get them fixed ASAP? You’ll have to listen in to this week’s show!
Howard Shore is the author of Your Business is a Leaky Bucket as well as a Business and Executive Coach. Howard has worked for 3 top Fortune 500 companies and has over 12 years of experience as a coach. He is also a Certified Gazelles Coach. Throughout the years, he has seen clients leak money unnecessarily and this is what inspired him to write his book.
Howard began his career by owning his first business when he was 18 years old. Over the years of working one-on-one with high-level executives and leaders, Howard came to realize something important. We all live our life like Dilbert, the popular comic strip.
It was astonishing to Howard how everybody could be working so, so hard in their industry, yet they were not getting as much traction as they should through this extra hard work. It just seemed counter-productive.
Most people are very good at working in the business but do not know how to work on the business. This is to say, they do not know how to focus on strategy, execution, and people to help save themselves from these big financial leaks and their own personal time.
Howard was hired to help a client in the restoration business improve his profits and bottom line. Just by working with Howard and applying the principles that are in the book, their profit grew by over 80% this year and their top line grew by over 30%. This is highly unusual in an industry like theirs and this was done through all organic means (no acquisitions). Also, their net profit grew by over 50%. The good news is, the general manager and CEO can now take time off and actually enjoy their lives while running a growing and successful business!
You can put any kind of framework in place, but if you don’t have a strong culture of accountability, or even the right accountability systems in place, then fixing the leaky bucket is destined to fail. Howard likes to replace the word execution with the word accountability because, in the end, it takes accountability to create long-lasting and meaningful action.
Interview Links:
Your Business is a Leaky Bucket: Learn How to Avoid Losing Millions in Revenue and Profit Annually, by Howard Shore
Resources:
Scaling Up for Business Growth Workshops: Take the first step to mastering the Rockefeller Habits by attending one of our workshops.