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#86 - "Surviving The Squeeze: Powerful Moves to Reclaim Your Business from Financial Trouble"
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In this episode of The Wealthy Consultant Podcast, Mike Walker discusses how business owners can tackle financial difficulties head-on. He emphasizes the importance of removing problematic individuals and unnecessary expenses, and shares insights on how to streamline operations using the ACE framework (Attitude, Competency, Experience).
Mike also provides key tactics to improve financial health, including regular financial reviews and engaging team members in generating revenue-enhancing ideas. He concludes with the importance of having a CEO dashboard for monitoring key performance indicators (KPIs) to proactively address potential issues. Tune in for actionable strategies to safeguard and grow your business.
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OVERVIEW:
- (00:00) Introduction and Podcast Overview
- (00:49) Facing Financial Difficulties in Business
- (01:55) Strategies to Overcome Financial Challenges
- (04:22) Cutting Unnecessary Expenses
- (06:56) Evaluating and Optimizing Your Team
- (13:15) Creating a Sustainable Financial Framework
- (17:01) Conclusion and Final Thoughts
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