Leslie Hassler – Scaling You to Higher Profits!
A Little About Leslie Hassler:
Leslie Hassler is a dynamic author, speaker, and business strategist guiding women-owned, service-based businesses into more profits, cash flow, and success. Business owners come to Leslie seeking a way to strategically scale their businesses richly, stop the money leaks, and get back in control with confidence.
Using her more than 12 years of experience in business, finance, mindset, and more, Leslie takes multiple 6 and 7 figure businesses from cash-strapped and struggling to profitable and thriving with her unique Scaling Rich™ Method.
Her genius has also been featured on stages around the United States, such as the National Association of Women Business Owners, the Women’s Business Enterprise National Council, and in publications such as Entrepreneur.com.
Leslie is a mother of two high school boys, an avid traveler, and the immediate Past President of NAWBO DFW
Quick-Show Notes:
In this episode of The Millionaire’s Lawyer, JP and Leslie Hassler discuss:
Leslie joins us today from Texas, where a lot of people in the States are currently flocking too
Why are people interested in Texas currently?
- Low taxes,
- Great for business owners
- No state income tax.
- Forecasted to be a business hub within the next few years.
Here are a few things that a business owner can do to get their business to the next level:
- Treat your profit as financial growth within the business, not a reward.
- Have some cash reserves – a lot of businesses couldn’t survive COVID-19 because of the economical damage it has caused, try having some in savings for events like this.
Business owners should be well aware of the numbers within their corporations, Leslie suggests using a predictive cash application to help plan, one like Pocket Smith.
As s business owner, Leslie suggests it is a great idea to be nimble.
What does she mean by being nimble?
- Be committed to the results you desire, but be willing to adapt on how to get there
Some quick Strategies:
- Understand what works for you, and for your business
- See what has the quick win
- Note what makes the needle of the profitability scale move.
Involve yourself within the business and its operations, if you were to double the workload – where would the cracks be?
How come the business owners seem to be at the head of the Bottle Neck?
- Well, Leslie notes that most owners what to be a part of everything that is happening, but they don’t have the capacity to do so!
- They feel as though the worth is in the work, however, the worth is actually in how well it can operate without them.
To increase the value of your business you should attempt to:
- Make sure that the profitability is there
- Ensure to be paying yourself a -salary no one wants to buy a business not knowing what they are going to be making
- Also, ensure that as the owner you have the time for vacations – Most purchasers don’t want to hear “oh, I haven’t had a vacation in years, this business is too busy for that”, they are looking to make more money, not lose more time.
- Work yourself out of business, it is worth so much more if it can operate without you being all eyes and hands-on deck!
Do-Dump-Delay
JP asks Leslie how she feels we may be able to ensure the work gets completed around the office:
- Have job descriptions so the staff member is aware of what their role is responsible for
- Make sure your staff is aware of what you require from them
- Be verbal, tell them how things should get done, when they do a great job on something, how to do a proper job on tasks
- Get it to the point where the staff member is telling you the answers to the questions they know you are going to ask – make sure they are listening and are observant.
Talk with other business owners. In the past, this used to be cliche, but more recently it is becoming acceptable. Leslie says its great to ask questions as there are others who have been in your position!
Build your business up in a way that works FOR you, not in a way that works you. Make sure you are smiling at the end of the day, happy with what you did during the day.
Key Takeaways
From this episode of The Millionaires Lawyer with Leslie Hassler:
- All industries are currently changing at a pace that’s very rampant, business owners need to learn to adapt or they could possibly be left behind.
- Cash is king, cash is always king
- Businesses need to grow and scale – growing is 1:1, scaling is 1:many.
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