Robust ThemeDec 09, 2019 2020-04-08 7:40
“Money, Honey!” Book link
Simon: Let's think of the founder. She founded the company. It's going well. We have a survey at the beginning of the relationship with a client, which asks for the basic facts and their finances. And one question is, what's your CEO salary? And the answer is often that they don't have a CEO salary. So first they use their company as a piggy bank and that has more repercussions. One is that when they tell you their profit rate, they are not telling the profit rate because they are not part of the expenses yet. And the second is when you finally give yourself a salary, how do you decide how high it should be? Industry standard, benchmark? Because you are the founder, you can do what you want,...
Simon: Now we go to the part what should we do: the investment tips.
Larissa: One of them is to definitely start as soon as possible. Even if it is with a small amount because the learning curve is quite long. You're very likely to make a lot of mistakes in your first three to five years of investing, especially if you're a complete novice. If you haven't studied finance, if you don't know anything about the capital markets, then it's best to make those mistakes with a few thousand euros rather than with the money you just collected by selling your company. Obviously it’s a lot more painful if you accrue a lot of losses. The other thing, especially for entrepreneurs, is to take advantage of tax breaks when it comes to...
Avoid these 5 Investments Mistakes
with Larissa Kravitz from Investorella
Larissa: Hello Sprinters! My name is Larissa Kravitz and today we will be talking about investments and finance as an entrepreneur. We'll look at the five biggest mistakes to avoid when investing as a private individual. We'll also talk about the do's of investing, not just as a private individual but also as a corporation. And how to structure finance within your company, be it a fast turnover software, or a service or a consultancy business. Also, how to structure your bank accounts, your cash flow, your liquidity, and everything that is important to financing the scaling and growth of your business.
Simon: Welcome everybody to the...
with Douglas Ferguson
Simon: Welcome everybody to the Strategy Show! This is part three of our interview with Douglas Ferguson from Voltage Control. This time we are going to deep dive into how storytelling can enhance innovation. Hi Douglas, how are you?
Douglas: I'm doing well. How are you?
Simon: Fine thanks! What can we learn from narratives and innovation?
Douglas: Story: Early on in Voltage Control as we were starting to bring workshops and Design Sprints and other innovation workshops into corporates, I had a CEO purchase a Design Sprint. He wasn't able to attend the Design Sprint so he had another decider, his product manager, and the Sprint went well. They gained a lot...
Theory of Constraints
“You are now in our Mastermind….”
Why is the Bottleneck at Closing?
It’s just a symbol.
It’s also a great question because it gives me a chance to explain the theory behind the model.
THEORY OF CONSTRAINTS
The Theory of Constraints (TOC) is a very helpful theory from somebody that was studying production.
(Also connects to the second question, on giving an example from operations and factory.)
The TOC model emerged from studying factories and where the inefficiencies were in production and process.
ELIYAHU GOLDRATT “THE GOAL”
The man who studied this...
“People often wait around for the “perfect” data.” – Douglas Ferguson
Simon: Hello everybody! Welcome to the Strategy Show! In this episode we are going to interview Douglas Ferguson.
Simon: In this series, we are going to cover three topics: The Sprint Mindset, How to have better meetings, and Innovation Narratives. Welcome to the show Douglas! Where are you right now?
Douglas: I’m in Austin, Texas and it’s a little chilly.
Simon: Can you describe a little bit of what you do to our audience?
Douglas: I run an agency called Voltage Control and we are a workshop agency. We help people run workshops to work better together, reimagine our meeting culture, get past problems we have with making decisions and just face...
#AskSimon 5 Fabiana from Rio
Hi Simon, this is Fabiana from Rio de Janeiro. I run a professional services firm in Rio I find social media a waste of time, but now that I am a freelancer I kind of can’t ignore it anymore. You seem to have fun with it, can you give me some advice on how and where to start?
Two things resonate with me: Is social media a waste of time? Can it be fun?
I used to say “social notworking” because I thought it was a waste of time.
I changed my mind.
We live in the age of leverage and the currency is attention. Energy flows where attention goes.
Is it a waste of time to look at what other people eat or where they vacation? Yes it is.
But what if instead of trying to reach more people, we would try to REACH PEOPLE MORE?...
Anatomy of a sprint
We can’t do it every week. We have trouble with the marathon that is our daily life sometimes. But a controlled, intense sprint might surprise you. It can show you what you can do when you put your heart and soul into something. When you decide – for a dedicated period of time – to really care. And let nothing stop you.
Successful Cross-Functional Collaboration
Motivated Team Members
Every sprint is unique
Based on your goals and deliverables each sprint is unique. It is customized for the phase in a product’s lifecycle. The main four phases we use are:
- Assertion to test.
- Proof of concept.
- Proof of market.
Hi Simon, this is June from Chicago. My husband says I am working even MORE, now that I am self-employed… Honestly, I was searching for freedom when I broke out of the system to do my own thing. I feel like the business is running me, not vice versa. Is it just me, or are other entrepreneurs going through the same? I’d love your thoughts Simon…
Entrepreneurial Freedom can be divided into 4 Levels.
Level 1: Job. (0:43)
The revenues are coming in and out, you have projects that you say yes or no to.
The systems are completely manual, and the profits are low, sometimes even negative, sometimes barely breaking even.
This is what I what I call having a job, not running a...