Pract•ad•goal is a word host Heather Holloway created. It is the sum total of the words ‘practical advancement goals.’ Her intention with this podcast is to teach entrepreneurs how to advance their careers with practical business advice.
Rising revenues cause rising costs, right?
When your business experiences explosive growth, if you don’t control costs or plan your next steps, you’ll make fewer profits rather than more.
Andie Monet is a business optimization expert and CEO of Strategic Solutions & Development Int’l. She’s also a mom, triathlete, speaker, international bestselling author, and servant-leader. Andie has three decades of experience advising Fortune 500 companies, small businesses, and governments. Her passion is to see businesses create explosive profits without adding costs or hours to the day.
Listen for stories about her own mistakes and embarrassing moments, plus her upcoming books, what social media she loves, how to get free advice from her, and a book that changed her life.
Practadgoal Talking Points
[2:08] Andie takes us back to her early years
- Started her first business at 16, without mentors, coaches or leadership
- Her business was door-to-door office support, offering to copy, print, staple and so on
- Knew she had to stand up and knock on as many doors as it took
[5:03] Finding her strength as business optimization
- Two decades into working, Andie realized her strength was problem solving
- At Monster beverages, she was giving proposals beyond the scope of assignments
- Andie defines business optimization as making the biggest impact while spending the least amount of resources
[7:11] Understanding growth and how to avoid adding costs
- Business owners think increasing their revenue means they need increased marketing, but that’s only a small piece of the puzzle
- Andie defines several other areas of growth: reducing costs, streamlining processes, optimizing systems, business development, creating more revenue from existing clients, or finding your products and services that can be packaged, marketed, bundled and sold in a different way
[10:14] Making things obvious so everyone can be involved
- People her age might not understand what a hashtag is
- Even clients and those in her business might need concepts explained
- Asking non-experts if something makes sense to them
[14:05] Common pitfalls to business growth
- The faster you grow, the fewer profits you make if you don’t plan
- Throwing quick fixes and hours at unsustainable solutions
- Not maximizing the return from investments
[20:20] Being honest with yourself about what matters
- We say things outside our business are important, but are we living that?
- A business should complement our lives, reducing stress by putting money in the bank
- A business won’t overwhelm your life if you run it better
[24:29] Life hacking your mindset and growing personally to grow your business
- If problems are put in the right perspective, they won’t seem dramatic
- Can you graduate college in the first grade? No, you have to grow into your goals
- You need a vision, to see things from outside yourself
[26:46] Andi’s Blow Up The Box strategy
- Asking “Why?” until clients reveal preconceived beliefs
- There’s always a way to get what you want by saving money