Episode 1879 - Start the new year off right: the profit-first model

Alan Fredendall // #LeadershipThursday // www.ptonice.com

In today's episode of the PT on ICE Daily Show, ICE Chief Operating Officer Alan Fredendall explores the concepts of Parkinson's Law and the Profit First model, discussing their importance in establishing a sustainable business practice. Alan highlights alarming statistics about business failures, with a quarter of new businesses closing within their first year and 65% shutting down by the 15-year mark. Alan delves into why these failures occur, emphasizing that business owners often determine the effort invested is no longer worth the financial return. By understanding Parkinson's Law— which states that work expands to fill the time available for its completion— and applying the Profit First model, aspiring entrepreneurs can create a more efficient and profitable business strategy.

Take a listen to the podcast episode or check out the full show notes on our blog at www.ptonice.com/blog.

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