Episode 64
Push Starting a Car and the Connection to Hitting $100k/mo in Profits
Hands-Off CEO · Mandi Ellefson
March 24, 20228m 49s
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Show Notes
Mandi Ellefson discusses how to get out of the entrapment cycle in this solo episode of Hands-Off CEO.
You’ll hear Mandi talk about:
- The entrapment cycle seizes many CEOs. “There's this dynamic where you need to hire more experts to help you deliver the growth, but then you need more cash flow to be able to hire them. So you need more sales to generate more cash, but then you need more capacity to make sales without fear of quality slipping.” [2:41]
- “This cycle is just so challenging, and the impact of this is that it turns your business into a time-for-money model.” Mandi shares the effects of the entrapment cycle on a CEO and their business. [4:48]
- “You need to have the cash to scale; that’s going to get you from push starting your car.” Mandi describes the four things you need to get out of the entrapment cycle and successfully scale. [6:05]
- Bringing in a manager to take over the minutiae lets you focus on working on the business instead of in it. “That team led by your manager is going to streamline increased profits and help you meet those staff demands as you're continuing to increase quality.” [7:11]
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