Stupid Tax

#16 - Return on Hassle

Dec 18, 2023

Exploring the cost of hassle in business activities, focusing on the value of having the right clients. Discussing the benefits of profitable clients who are easy to work with. Emphasizing the importance of saying no to unprofitable projects for increased success. Reflecting on navigating client preferences and setting business boundaries.

46:25

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Quick takeaways

The importance of having profitable clients who are easy to work with and align with your business model.

Simplifying business operations and avoiding unnecessary complexity to maximize efficiency and productivity.

Deep dives

Return on Hassle in Business Decision-Making

Making business decisions based on Return on Hassle involves considering the effort required versus the payoff. The podcast delves into the importance of assessing Return on Hassle for small business owners when evaluating their current or potential ventures. An example shared involved a risk-reward framework where efforts and payoffs were rated on a scale, emphasizing the need for simplicity and effectiveness in business operations.

Introduction

5min

Prioritizing Value and Efficiency in Business Ventures

21min

Navigating Business Growth and Complexity for Wealth Building

6min

Financial Management and Wealth Priorities

4min

Navigating Client Preferences and Prioritizing Value

9min

Setting Business Boundaries and Teasing Future Episode

2min

Business is frequently reduced to numbers -- revenues, costs, ratios, and percentages -- but not every aspect of business operations can be described purely numerically. As Mitchell and Scott discuss on today's episode, the hassle of any given business activity has a cost measured in misery and frustration, if you have the wrong clients for your business. The best clients, that is, clients who are easy to work with and don't ask for customization that doesn't fit into your processes, are often the most profitable clients. On the other hand, even clients that offer you a lot of money can end up causing more problems than they are worth with complex, high-touch projects. Every business has it's sweet spot, and a customer avatar that will fit in best with the business model, and as Mitchell says, just do more of that!

Ask Mitchell and Scott a question!

Email: show@stupidtaxpod.com

Mitchell Baldridge

Twitter: @baldridgecpa

https://baldridgecpa.ck.page

https://baldridgefinancial.com

Scott Hambrick

Twitter: @hambrickscott

IG: @ogscotthambrick

https://onlinegreatbooks.com

https://scotthambrick.com