Jack Dalysell a product, so let’s figure out the best way and have everybody do it
th at way. Systems and processes enable us to leverage our company
into success.
When I was in college, I pursued an accounting degree and worked
at Arthur Andersen. I became a CPA -- but what I ’m going to say would
probably result in my being tossed out of the accounting profession (I
would not be offended by the way). There is no such thing as the
category of exp enses in business. What you n eed realize is the fact that
“expenses” are actually investments. Everything we do in our company
should be looked upon as whether it is delivering a proper and
satisfy ing return on investment. I have seen so many good ideas shot
down because they were “too expensive.” When you look back
you’ll realize that some expenses should have been made (invested in)
because there would have been a tremendous return on investment.
I remember suggesting to two of my younger partners years ago that
we should have a sales contest where the top salesperson would win a
Mercedes 450SL to be used by him or her for the month. My two
younger partners thought that the project sounded too expensive. When
you came down to it, however, the least payment was a thousand dollars
a month, but the additional business we would create as a result of that
contest would render $60,000 a month in profits. So, $1,000 a month
investment for a $60,000 retur n? I think I could find enough people to
st and in l ine f or that one. When we first a nnounced that we wanted to
have a car giveaway as a contest it sounded too expensive, but you
have to weigh investments versus expenses.
The third area in terms of leveraging a successful entrepreneur is
th at we don’t have all the answers. I will tell you that o ther people
often have a good many of them. So I would encourage entrepreneurs
to either have a one-on-one CEO coach, and/or join a group of CEOs.
There are many CEO groups out there in the world who get together on
an ongoing basis and work to help each other in their respective
businesses. That would be leveraging.
I was in one of those groups for five years when I was building one
of my businesses. The amount of money and time it saved me, and the
amount of money and sales that increased as a result of ideas that were