The Prof G Pod with Scott Galloway Office Hours: Allocating Your Small Business’s Revenue, Would Scott Ever Run for Public Office? and Finding Your Purpose
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Aug 9, 2023 Discover essential tips for small business owners on revenue allocation and financial management. Dive into an engaging discussion about the value of personal values in shaping political beliefs and civic duty. Listen as a listener grapples with identity and purpose after life changes, highlighting the importance of self-discovery. Finally, reflect on the impact of mortality and personal loss, with insights on finding meaning and fulfillment in life.
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Prioritize Revenue and Service
- Focus on delivering excellent service to initial customers/patients to build word-of-mouth.
- Prioritize revenue generation over expense reduction in the early stages.
Invest in People and Technology
- Invest in good employees and technology to scale your business.
- Be cautious with spending but prioritize technology that enhances service or acquisition.
Build a Kitchen Cabinet
- Form a "kitchen cabinet" of advisors for financial and strategic guidance.
- This provides external perspective and helps avoid cash flow crises.