Financially Fierce Founder: Jason and Harley Newman
Vision, Execution, Culture, and Numbers = Success
Every industry has been impacted Covid. Trucking and transport is no exception. But imagine operating a business through a global pandemic while navigating the boom and bust—the speedbumps and oil slicks—of the oil patch.
Looking to build your grit, determination, and resilience? #FinanciallyFierceFounders, Jason and Harley Newman (The Newman Bros) pave the path. From battling a shop fire, making a stand on improved safety standards, and facing down escalating labour and leasehold expenses, these guys will teach you how to lean into, learn from and leverage the lessons of the entrepreneurial journey.
Join the League of Financially Fierce Founders
Episode Timeline //
[00:00] Introduction of the episode.
[01:40] Their journey of building their business.
[03:59] Working on the business, analyzing it, and making sound decisions.
[08:06] Their individual roles within the business.
[09:01] Importance of budgeting, knowing your numbers, and building company culture.
[16:40] Dealing with stress in business.
[19:20] Numbers becoming intuitive.
[21:43] Leadership at the time of crisis.
[25:21] 4 things that can help you to get through a crisis in business.
[27:23] When are layoffs necessary?
[30:33] How to hire a right fit for your company.
[34:53] Strategy to buy new equipment.
[41:26] Seeking advice from different experts.
[44:45] We all struggle one way or another
[47:05] Golden piece of the episode.
Founder’s Take //
Constantly analyzing business and making sound decisions
Working on the business is not about being involved in day to day stuff of business. It’s about analyzing business - focusing on the bigger picture, seeing what’s going on within the business, seeing the holes and addressing them, and also allowing others to grow within the business - and making it better. It's about taking one portion of the business, improving it, and then moving on to the next portion. It’s the game of constantly analyzing business and making sound decisions based on analysis.
Being proactive in business instead of being reactive
Knowing your numbers tells you where you are going in business- whether you are losing or gaining- and based on that budgeting and making right decisions help you to be prepared and be proactive for any situation.
Sacrificing business for the sake of employees
A lot of people sacrifice the business for the sake of keeping employees and not offending or hurting their feelings, but if you won’t save the business first and make sure that the business survives, then at the end of the day nothing will survive, not even the employees.
Having an advisory board
Every business owner should have a group of advisors so that they could turn to them to discuss their business and make sound decisions. When you have different experts to discuss your numbers and solve a particular problem then the results that come are astonishing.
Mic Drop Moments //
BOOM! There it is! I promised you intel to blow your mind and build your bottom line.
Here are a few of my favorite mic drop moment's compliments of our
“Numbers becoming intuitive”There are 2 advantages of knowing your numbers in business. First, numbers move you where you need to go to avoid any sudden stress. Second, numbers allow you to be a better leader and have a better vision.
“Leadership at the time of crisis”Right leadership, at the time of crisis, is all about dealing with the fears and emotions of your employees, providing them stability, and steering them in the right direction. By providing the right leadership you can get rid of any problem.
“Build company culture”Building company culture is all about building rapport with your employees to avoid friction with them. But a great company culture does not happen by magic; it starts with playing a strong leadership role.
“Vision + Execution + Culture + Number”When crises hit you, the formula to go to is {Vision + Execution + Culture + Number}. Know your numbers, have a vision, set a productive company culture, and make rational decisions based on your analysis and finally execute that decision.
"Stress is the no. killer of a business owner."“Hiring the right fit is about looking at things objectively not subjectively.”Those were some of my favs. Drop me a comment below and let me know what landed with you!
The Bottom Line //
In the business world, little things matter a lot. Little things like ‘knowing your numbers’ have a huge impact on your business. Having that information is the most powerful way to take your business in the right direction. No matter what your business is, knowing your numbers means knowing your business.
Feeling Financially Fatigued? We've got your wake-up call!
Today, we're reaching out to you directly, Founders at all stages of business, to experience what it feels like to become Financially Fierce. To stop hiding from the numbers and instead… choose to OWN them!
We want to show you, based on YOUR numbers--not OURS, not only what’s possible when it comes to building your business, but what’s necessary; including how to pay back the Covid benefits your business received.
You have a 15-month runway to build a plan and get your debt paid.
LET'S DO THIS!
About the Founders // Jason and Harley Newman, T Bar1