PNL, SAR, A. Demographic discussed on What's Next! with Tiffani Bova
Offering your services and proximate community in Sar getting traction there. That's that's how you go about it. And that's how you prove is out there. Now, one last thing is you can do some statistical analysis to especially in in selling to industry, so beat the b is the easiest dentist our community 'cause I can say I sell to accounts, which were my company's does it's very easy to go. And see how many accounting conferences there are and to go to some bliss service dentist how big their list is it's a very easy way to measure market. But when you sell to a. Demographic. That's you know, man or woman or something there's there's no like single moms who coffee conference, and there's no psychopathic psychographic type conferences either. So it's a little harder to assemble that knowledge, but you can always Pierce a community. You can always find bird of feathers flocking and appear there. And I think there's a lot of really great advice there, you know, around sort of focusing on the right set of customers, potentially ignore is too. Strong of a word to put that in sort of air quotes, rapid ignore those that aren't going to get moved the needle for you that you don't get caught in that trap of trying to fix a set of customers that are never going to really give you more revenue and let me let me use that as a pivot point to say, they're really not gonna drive your profitability, which then sort of your next book was was profit. I which which I found interesting. So I'm not an accountant, an N L's are not my friend. So a always higher really smart people to be around me when I was managing my PNL's. But, but why don't you step the listeners through sort of how you landed at profit first and how you really tried to flip it on its head. So I I do the same thing. I don't look PNL's or cash statements. I don't even know how to re one, quite frankly or balance sheet. So I do say my hire smart people. But there was this one dummy who kept serving themselves and messing up and that was me. I would. I would nor any attempt to read those documents or what my KPI's were by key performs in caters, always things in the budgets. I would revert to call Bank balance, accounting, see if I had money or not. And if I did I'd spend if I didn't I would enter panic mode. And why found is I thought I was the only guy do this. But I think it's actually relatively typical that many entrepreneurs particularly of smaller sized businesses sub ten million are actually looking their Bank bounces terminent action. They should take. So decided was away realize I should say is it's very difficult for myself to change my own behavior. And I believe that's true for most of us. Even though our behavior may not be productive to change is very difficult. So I think the best solution is to CEPA some that allows us to continue behavior but channel two positive outcome. So the fact I I did this Bank balance accounting process. I devise a system for myself where I could continue log my Bank accounts. But now, no pro. Actively what money was intended for what purpose before spent a penny. And what how did this was by saying multiple accounts by also realize this McCain Mattel, the book is that cash management for most entrepreneurs behavioral based system, we may say were logical, but we're not we're very emotionally driven and the behavior. We have is that when something is true, not just with money anything life. When something is comes last. It means insignificant. Like if I said in my health. My health comes last when I'm saying is my health doesn't matter. But if it's important to me, I'll say my health comes first so human nature between comes first the priority. It gets focused on and when something comes last, it's the perpetual manana syndrome, the great irony of what we've been told about profit until recently that product last actually vernacular is profits the bottom line last..