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Lazy Entrepreneur Podcast
Are you a lazy entrepreneur who wants to work smarter, not harder? If so, you’re in the right place!
Hosted by Kristy Yoder, CEO of SmartVAs and Meet5starVAs, this podcast is all about leveraging delegation, automation, systems and virtual assistants to scale your business efficiently—without doing everything yourself.
Born and raised in Manila, Philippines, Kristy moved to the U.S. and grew her agency from a one-person operation to 70+ team members. Her business 10x’d within three months of hiring her first virtual assistant, and now she’s on a mission to help other overwhelmed entrepreneurs experience the same success.
Each episode dives into proven strategies for delegation, outsourcing, automation, and productivity, featuring expert insights and real-world success stories.
So, if you’re ready to achieve more by doing less, subscribe to Lazy Entrepreneur podcast and start building a business that runs without you doing it all!
Lazy Entrepreneur Podcast
Ep 206 - The Secret Sauce to Building a Successful Business with Lance Johnson
“The constant, proactive monitoring of your business’s profitability - that is a true growth strategy.”
In this episode of the Master Delegator podcast, Kristy Yoder interviews Lance Johnson, a seasoned multi-business entrepreneur and the founder of Amplo Media, a digital marketing agency specializing in lead generation and customer acquisition. With a rich history of diverse entrepreneurial endeavors starting in his teenage years, Lance brings invaluable insights into effectively managing and scaling businesses.
Throughout the episode, Lance shares his journey from importing farm supplies at 17 to establishing a prominent digital marketing firm. He delves deep into the critical importance of active profitability monitoring and cash flow management for sustainable growth. Lance discusses the necessity of setting profitability targets and repeatedly emphasizes the reinvestment of profits to fuel further business expansion.
The discussion also explores Lance’s innovative approach to Human Resources, particularly in service-based companies. He advocates for a "slow to hire, fast to fire" strategy, stressing the importance of hiring the right fit for future growth and swiftly addressing underperformance. Amplo Media’s positive Performance Improvement Plans (PIPs) and commitment to employee development highlight their dedication to nurturing talent while deftly managing potential exits.
Key Takeaways
- Monitor profitability beyond bank statements to strategically reinvest in growth.
- Ideal gross profit for small service-based businesses is about 30%; aim for a net profit of 10-20%.
- Adopt a “slow to hire, fast to fire” approach to ensure the right fit and maintain high performance.
- Regularly update projections for customer revenue and expenses to manage cash flow effectively.
- Define your version of business success and align your actions to meet those goals, im
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