Podcast Ep 76 | Why You Can’t Save Your Way To Success

EPISODE TRAN­SCRIPT

Please note that this episode was tran­scribed using an AI appli­ca­tion and may not be 100% gram­mat­i­cal­ly cor­rect – but it will still allow you to scan the episode for key content.

Brad Giles 00:12

Wel­come to the Growth Whis­per­ers where every­thing that we talk about is build­ing endur­ing great com­pa­nies. I’m Brad Giles, and as always joined today, by my co host, Kevin Lawrence. Kevin, Hel­lo, and how are you today?

Kevin Lawrence 00:26

I’m doing great, Brad. I’m hap­py to be in Sep­tem­ber, get­ting things kind of going for what’s like the start of the new year or the or the third round of this year for us. I’m excit­ed. Excit­ed to be doing the show today.

Brad Giles 00:39

Yeah, me too. Yeah, me too. We’ve got a good show lined up. And, yeah, yeah, things are good. In my part of the world. It’s spring, start­ing to warm up. We’ve had a very wet win­ter. So yeah, I’m excit­ed. So as always, we’d like to begin with a word or phrase of the day. And what about your­self, Kevin, how would you open the meet­ing with a word or phrase,

Kevin Lawrence 01:05

My word is free­dom. And it’s a very impor­tant word to me. And because I’m going to the Unit­ed States of Amer­i­ca, tomor­row, I got, I went and got my COVID tests, I got both styles, a COVID desk today, the one where they just tick­le your nos­tril and the one where they you know, go for your brain. Actu­al­ly, it was­n’t as bad as I thought. But I got my test done. And I’m off to fly to Chica­go in the morn­ing for a meet­ing, com­ing back just under the wire, so I don’t have to get test­ed a sec­ond time. And I guess I’m a free­dom. I have not been in the Unit­ed States Amer­i­ca. Well, since March, it was March of 2019. And a year and a half longest I’ve nev­er been in there. As a child. We went down almost every week­end, every sec­ond week­end, like and I see the US like I look at my win­dow I see. Right into the US. It’s right where I’m like, you know, 10 min­utes from the bor­der. So I’m excit­ed to be trav­el­ing down to I love the state. So a free­dom is my word. I get to expe­ri­ence that again. How would you read? You know, I

Brad Giles 02:07

laughed when you said that because my word is slash was very close to free­dom as well. And the rea­son is, I saw this absolute­ly amaz­ing video, Amer­i­can col­lege foot­ball has start­ed up again. And there’s this song called into Sand­man by a band called tele­ca. You may have and it’s got this amaz­ing, start to it. And I encour­age you if you’re lis­ten­ing to look it up. So it’s the first game back after all of the COVID shut­downs for like a year or two for and then they pan across the stands, there must be 30,000 peo­ple all wear­ing exact­ly the same red jumper. And then there’s that song, it’s kind of got a bit of a grad­ual build up, then more and more build up. And all of the 30,000 peo­ple in stand a jump­ing up and down. Okay. And then it’s just the play­ers are in the dugout, and they’re wait­ing as the music builds until it gets to a cer­tain point. And then they sprint out for the first time since COVID. onto the pitch. And it just it can’t help you mean you mean the field? Yes, the field. Okay, got it. Yeah.

Brad Giles 03:23

And, yeah, and it is just, it just that sense of free­dom of we’re back out like we’re back out watch­ing the crowd. Yeah, absolute­ly. It was in just like a one minute video. I encour­age you to look that up. So yeah, free­dom as well.

Brad Giles 03:39

Awe­some. Well, great minds think alike. Well, let’s, let’s dig in. what’s the show today, Brad? What’s about suc­cess, isn’t it? It’s about, you know, what is the mind­set for suc­cess. And the title is why you can’t save your way to suc­cess. And then the sub­ti­tle kind of is step­ping over dol­lars to pick up nick­els and some peo­ple, some peo­ple will think that they can achieve suc­cess by focus­ing on the dol­lar that they save here are the dol­lar that they saved there. Now this is I guess this is a per­son­al as episode as well as a team or leader based episode rel­a­tive to your busi­ness. But it’s the same prin­ci­ple. And so we see peo­ple some­times who was so focused on sav­ing $1 here or sav­ing $1 there and it can be a lit­tle bit con­sum­ing and they think that that’s how they’re going to suc­ceed. When some­times, in fact, most of the time the often is the oppo­site is often true.

Kevin Lawrence 04:48

Yeah. And it’s peo­ple have great inten­tions, but they get dis­tract­ed. I remem­ber one exec­u­tive team we worked with and you know, it was a bit of a tougher time in the busi­ness and I made the deci­sions, too. Get rid of the dis­pos­able cof­fee cups in the kitchen where all of the exec­u­tives and lead­er­ship team would go when it was a good size com­pa­ny. So they would, they would save mon­ey by not hav­ing to pur­chase paper cof­fee cups. I did a lit­tle bit of math, and it took me all of about 1.362 sec­onds to do. It’s called the val­ue of an exec­u­tive or lead­ers time hav­ing to wash their own cof­fee cup. And if you take them the time of the week, you know, two cups of cof­fee a day, five days a week, 1012 cups of cof­fee, when you start adding up the time or the costs to wash the darn cup. It just you know, and maybe it was send­ing a mes­sage. And there’s things about sav­ing costs, they can send mes­sages and things like that. But at some point, you know, it gets a lit­tle bit sil­ly and peo­ple with beau­ti­ful inten­tions are sav­ing mon­ey, but it’s not worth the time it takes to save it. And they’re not they’re not bal­anc­ing out time and mon­ey to look at true cost, not just cur­ren­cy in the equa­tion. But again, good inten­tions. Some­times go a lit­tle bit too far. And as you know, you and I’ve talked about Brad, the worst part is, is that they’re there. It’s not the ones that are sav­ing on the wrong costs. Is that poten­tial­ly in their busi­ness, they should­n’t be sav­ing wor­ried about sav­ing costs, they should be wor­ried about doing some­thing else that might help grow the com­pa­ny. Yeah.

Kevin Lawrence 06:25

Yeah. And it’s easy, it’s easy to get caught up in that. And that’s why there’s this kind of joke we have some­times we’re say­ing and I love accoun­tants make it very clear. I love accoun­tants. I’m just about to stick them I I love them. But there’s a say­ing is that, you know, if you real­ly want to screw up the com­pa­ny, you’ll let the accoun­tants run the busi­ness. Because you can’t cut your way to suc­cess. I’ve said, and I know some accoun­tants who are great, by the way, great CEOs. And also that’s a bit of a joke. I know some accoun­tants that are great CEOs, but just clip­ping costs, does­n’t cre­ate growth or cre­ate a bet­ter injury. Yeah,

Brad Giles 07:01

but the accoun­tant has a role, a very impor­tant role. And the leader or the CEO has anoth­er very impor­tant role. I wrote a book about that CEO role called made to thrive. But I had a friend who owned a, he owned a few busi­ness­es. And he as they do, he grew one. And then he start­ed anoth­er one and he grew that one. But the ini­tial fam­i­ly owned busi­ness, they decid­ed sev­er­al years ago to appoint their accoun­tant to run the busi­ness. Then after about five years, he rang me up and he said bread.

Brad Giles 07:40

I’m an E, I’ve got a pause, because this guy swears a lot. So I’m try­ing to think about what he said, and tai­lor it to the episode or the lan­guage. So you know, he said, this account that he’s been there and he said, we’re mak­ing more mon­ey than we ever have, like the prof­its are out­stand­ing. He said, but every year the rev­enue has gone back­wards. Right? Right. And that’s good. You can han­dle that for a year, which

Kevin Lawrence 08:08

is you can bet­ter squeeze the exist­ing rev­enue, but then you ener­gy’s not on grow­ing the revenue.

Brad Giles 08:14

Yeah. But then after about five years, it becomes alarm­ing, because he’s like, yes, this, this equa­tion isn’t work­ing. And so it’s impor­tant to focus on the lit­tle things to make sure that you’re max­i­miz­ing the prof­it. But if you look at it, with­out the lens of we need to con­tin­ue to focus on grow­ing the top line and the gap as well. You know, there can be some chal­lenges in that.

Kevin Lawrence 08:41

Yeah. So the first thing to real­ly be look­ing at is based on what your busi­ness needs, what does it need more, cre­at­ing more val­ue for exist­ing cus­tomers or new cus­tomers? So you can grow the rev­enues and grow the mar­gin? I sus­pect that all busi­ness­es need some of that. But you know, or do you have an over­flow of juicy demand? That’s healthy mar­gin busi­ness? Do you have all of that that you need? Right? If you have all of that, that you need? You’re prob­a­bly not as wor­ried about costs, you’re prob­a­bly wor­ried about sys­tems and opti­miz­ing qual­i­ty of ser­vice deliv­ery or some­thing like that. So do you need more good busi­ness? Is that thing? Or are you get­ting a good busi­ness but you’re not get­ting prof­itabil­i­ty, ie the if there’s not effi­cien­cy in the sys­tem? You know, we’ve chat­ted before about Lean and lean process, which can real­ly help if you’ve got an abun­dance of busi­ness and you just need to run more effi­cient­ly and gen­er­ate more prof­it for every dol­lar that flows through the sys­tem. But nor­mal­ly, when peo­ple go to cut costs, they’re actu­al­ly look­ing the wrong way. They’re actu­al­ly it’s not that you should­n’t cut costs, you often need to, but it’s there. If you only do that they’re miss­ing the oppor­tu­ni­ties for more rev­enue and val­ue cre­ation and the chal­lenges of reduc­ing cost, I would say is not a high skill. tiv­i­ty it’s not cog­ni­tive­ly demand­ing to go and find cost because it’s always there. There’s always inef­fi­cien­cy in the system.

Brad Giles 10:08

And peo­ple can get frus­trat­ed by waste. And yeah, then that frus­tra­tion can trans­late into an emo­tion. And that emo­tion can lead them to make deci­sions that are not the best use of their time.

10:27

Yeah, exact­ly. And emo­tions. And that’s why I’ve got great advi­sors. I was talk­ing to one of my advi­sors recent­ly about a project I’m work­ing on. He said, okay, Kevin, you know, what is the val­ue? in dol­lars of this issue you want to sort out? as we went through it, he’s

Kevin Lawrence 10:44

like, why are we talk­ing about this? Because there’s not enough dol­lars in that prob­lem for you to even be worth talk­ing to me about it. Yeah. So it goes del­e­gat­ed. Let it go. Just do some­thing, just don’t think about it. Because it’s not worth enough. You know, and based on the scale of busi­ness­es, you know, I had one, one amaz­ing leader I worked with, unless the val­ue of an issue was about 10 mil­lion, he would­n’t pay atten­tion. And based on the scale of his busi­ness, that was about the right num­ber, it took me a while to get it.

Kevin Lawrence 11:18

Yep. You know, but there’s a lot of peo­ple were there, their min­i­mum thought, should be on some­thing that’s prob­a­bly a cou­ple 100 grand. But they get stuck in a cou­ple of grand.

Brad Giles 11:32

And so it makes me think about Peter Druck­er, who we’ve spo­ken about before on this pod­cast. And he’s say­ing, on the effec­tive exec­u­tive, his book, page num­ber one, right? The job of an exec­u­tive is to be effec­tive, the job of a man­ag­er is to be effi­cient. And so if you’re view­ing this, this pod­cast only through a per­son­al lens, then you aren’t the exec­u­tive of your own house­hold or your own bal­ance sheet. If you are in a busi­ness, then you are the exec­u­tive of your own busi­ness. But remem­ber, for man­agers, their job is to be effi­cient and for exec­u­tive is to be effective.

Kevin Lawrence 12:16

Yeah. And so I heard a great case study on some­thing called seri­ous they’re an air­craft man­u­fac­tur­er. I was inter­est­ed in it, I men­tioned to some­one that I tried to get my pilot’s license, I went on a test flight, hat­ed it. And he asked me what air­plane it was in, I said, a cer­tain Cess­na mod­el. He goes, Well, that was prob­a­bly your issue. He goes, you need to fly a seri­ous and I’m like, okay, he goes because it’s, it’s almost like fly­ing an iPhone. It’s a mod­ern air­plane. And the great thing about Sir­ius is that if you mess up this lit­tle han­dle, you pull, and then a para­chute pops out and then sets you on the ground. So it’s made for recre­ation­al peo­ple like us that often screw up because we don’t have enough expe­ri­ence. You just pull the thing. The plane drops to the ground prob­a­bly breaks the land­ing gear cost you 25 grand and you’re good to go. And hope­ful­ly it does­n’t hit a house. Exact­ly. Yeah, exact­ly. So any­ways, he so I went, I went and test drove on these planes, it was beau­ti­ful, all that stuff. But as I stud­ied the com­pa­ny, I found this great arti­cle about them and effi­cien­cy. And when they start­ed, they start­ed the planes, they sell about a mil­lion dol­lars. And they start­ed the planes. And they start­ed only fix­ing the prob­lems that were $6,000 a plane or greater, only, because there’s less of the there was mon­ey falling all over the floor. But they start­ed at 6000 the plane, and then they went after they fixed all those they went to 5000 the plane, and then four. And you know, by the time of this arti­cle, they were still at $500 a plane, they were leav­ing waste of it was a very smart way inter­est­ing. Their man­u­fac­tur­ing facil­i­ty. I think they 5x or 7x vol­ume in the same facil­i­ty, because they just built effi­cien­cy. But again, they have great demand, they have a strong brand. But they pri­or­i­tized and only focused on the big tick­et stuff. Instead of wast­ing their time clean­ing up 75 cents when it just does­n’t matter.

Brad Giles 14:10

It does­n’t it does­n’t mat­ter. I good anal­o­gy that I like is about a dai­ly cof­fee. So most peo­ple would drink cof­fee. And many peo­ple would go and let’s say that you spent $5 each word each week day on cof­fee. Peo­ple might think I need to save my way to suc­cess. I need to stop hav­ing cof­fee. And then over a year that’d be $25 a week that’d be 13 $100 a year 1300. And the love we’re going with this. So then sud­den­ly, after two years, you’ve got 2600 but you need you know you’re a sen­tient being and you need to find these small points of reward to keep you focused. there on the flip side of that How what would you need to do to make anoth­er $5 a day? And would it be pos­si­ble? Yeah.

Brad Giles 15:09

So is it pos­si­ble that you could actu­al­ly, if you rather than focused on these small­er things that give you per­son­al reward that mat­ter what it is focused on the upside? And, you know, would it be pos­si­ble to make $10 a day or $50 a week? it’s cer­tain­ly possible.

Kevin Lawrence 15:30

Yeah. So instead of try­ing to save you’re not buy a cof­fee every day, think of how you could make five times what that cof­fee is worth every day. Exact­ly. Just look at it. And that’s the way we think about busi­ness, instead of try­ing to put too much in and redi­rect the whole orga­ni­za­tion, to sav­ing five bucks, redi­rect the whole orga­ni­za­tion to mak­ing 5000 bucks a per­son on dif­fer­ent things, ie, chang­ing our focus and not get­ting lost in it. I’ve seen it in lots of dif­fer­ent com­pa­nies where we’ve done this even to the point, one of our com­pa­nies, we did a theme over a quar­ter, or every employ­ee, and they were in busi­ness ser­vices for small busi­ness­es, right, like small mom and pop type busi­ness­es. And every employ­ee was think­ing about poten­tial clients for the com­pa­ny. Yeah, so they had 350 peo­ple, every day, and there was a con­test on a week­ly and a month­ly basis, we made it a theme gen­er­at­ing leads for the com­pa­ny. Now, they had done things around sav­ing some mon­ey here and there, but they were grow­ing the busi­ness, and they got a lot of mediocre leads, but they land­ed. So the peo­ple like one of the front­line employ­ees, brought in an amaz­ing, amaz­ing piece of busi­ness. And so instead, they just put the ener­gy on growth. And I’ll nev­er for­get a great CEO worked with his name is Brent par­ent, we call them BP. He’s built and sold a num­ber of busi­ness­es, just bril­liant, bril­liant CEO with this. And and and he always says to his peo­ple, you know, are you in the big cir­cle? Or are you in the lit­tle cir­cle? And he called it 95. Five. And you know, and you know, I’ll keep this with me for the rest of my life. And what it real­ly is, is the 95 is awk­ward 95% in the big cir­cle is oppor­tu­ni­ties, and the 5% in lit­tle cir­cles problems.

Kevin Lawrence 17:28

And real­ly what he would say is, Hey, why don’t you just go sell some­thing? Yes, like, lit­er­al­ly, there’s

Kevin Lawrence 17:35

like, you know, go go sold, go solve a prob­lem for a cus­tomer and sell some­thing. That’s the oppor­tu­ni­ties and peo­ple get wor­ried about the prob­lems. And I remem­ber that orga­ni­za­tion, as we scaled it and had did a very amaz­ing job with it, they did amaz­ing job. Um, we ran it at prob­a­bly two points less of EBIT­DA than we could have. But we ran it fast and a lit­tle bit loose. But we’re grow­ing like crazy and built mak­ing prof­its like crazy. If we tried to squeeze all the dol­lars out of the busi­ness, we would have slowed down the growth engine, and it prob­a­bly would­n’t have been a fun place to work either. Right, because it was an entre­pre­neur­ial, had an awe­some entre­pre­neur­ial spir­it, lots of auton­o­my, all kinds of good stuff, but 95 595 on the oppor­tu­ni­ties 5% of the prob­lems. And we did try to save mon­ey, but it was­n’t real­ly a major focus. The biggest was cre­at­ing more more more gross prof­it by tak­ing care of a customer.

Brad Giles 18:30

And that’s the mind­set that we’re real­ly talk­ing about today. Which is if you know, if you have one sin­gle con­straint, which is time, then how do you use that time most effec­tive­ly, you can use five hours, let’s say hypo­thet­i­cal­ly five hours per week, try­ing to fig­ure out how to save $100 over there. Or you could find you could spend five hours a week try­ing to make $100 over right in that direction.

Kevin Lawrence 19:04

Or you could spend five hours a week try­ing to ana­lyze a spread­sheet. Or you could pick up the phone and talk to five cus­tomers. Yes, go and vis­it five stores or vis­it your front­line staff. You know, it’s the root of all of this is that we have great inten­tions, but often our ener­gy goes the wrong places. And it’s it’s even why in our quar­ter­ly plan­ning ses­sions I do to the best of my abil­i­ties depend­ing on who the com­pa­ny is and what they’re like. But to get them to try and apply $1 val­ue to each of their goals. And because the same thing we’ve seen things where no peo­ple are all fired up about this, this objec­tive which we would call like a rock on a coor­di­nate base I we’ve got to do this. Can we cal­cu­late the impact of the busi­ness? Yeah, it’s about $5,000 and then the oth­er three each have an impact of a mil­lion to two So if you’ve got a mil­lion, you know, 1,000,003 mil­lion, one and a half mil­lion, and then the oth­er one was, it was it was a mil­lion dol­lars every year, like, for­ev­er. And then you got one, it’s five grand.

Brad Giles 20:13

I love that. I love that. And I know you’ve said that before. It’s Yeah, I put it a trib­ute a cost to your rocks to the pri­or­i­ties for the com­pa­ny. And then sud­den­ly, you can say, well, what’s good actu­al­ly, is it actu­al­ly worth doing, because some­times they sound cool, or you feel like you’re solv­ing a big prob­lem. But you know, an exec­u­tive job is to be effective.

Kevin Lawrence 20:38

It is. And this applies to so many things. It’s about, you know, deal­ing with cer­tain types of, you know, some com­pa­nies have an expense report. And if it’s under a cer­tain amount, you don’t need to sub­mit your receipts, there’s all these things that waste a lot of so the key the mes­sage here is, is that there’s lots of great things that we can think about sav­ing mon­ey and sav­ing mon­ey is a good thing, it should be con­sid­ered when you’re nego­ti­at­ing big con­tracts, you should nego­ti­ate it and try and get some­thing bet­ter if you can. It’s crazy to you know, nego­ti­ate and not get cof­fee cups for the whole lead­ers in a com­pa­ny. But then you renew your IT ser­vices con­tract and not try to get bet­ter terms, you should pay atten­tion to those. But there’s dan­ger in get­ting too caught up into chas­ing pen­nies nick­els around on the floor and miss­ing the big stuff.

Brad Giles 21:26

Because you can’t save your way to suc­cess going back to that $5 sor­ry, that five hours per week exam­ple, if you spent five hours a week try­ing to save mon­ey in the com­pa­ny, or five hours a week try­ing to grow try­ing to, to build to bring in new oppor­tu­ni­ties, then com­pound that over a week, a month, a year or even five years. After five years, the com­pound­ing effect of that five hours per week will be outstanding.

Kevin Lawrence 21:59

It absolute­ly. And that’s Yeah, and there’s many, many exam­ples I’m think­ing about as we go through this, the key is gen­er­al­ly doing some­thing to cre­ate val­ue for our cus­tomer is a high val­ue activ­i­ty, because you’re going to retain them, you’re going to grow the busi­ness, you’re going to get new addi­tion­al cus­tomers, and you need to save so the ulti­mate is you have a cul­ture of sav­ing mon­ey and being smart with mon­ey. For sure. Yeah. And we’re not say­ing to be sil­ly about it. It’s just you know, and hav­ing a good dis­ci­pline around it. But also to make sure that you don’t get lost and putting up ener­gy on strat­e­gy. You know, there isn’t, there’s one more thing around cost. And I do remem­ber, and this is a restau­rant here that I worked with, and I remem­ber being with him at one of his restau­rants. And he want­ed to take a bot­tle home, a bot­tle of wine home that night, for din­ner par­ties have it in his restau­rant had the one he want­ed. So he bought it and he went to the bar and he bought it, he paid full price. And I said to him, his name is Bob. And he said, bud, so tell me why you’re pay­ing full price in your own restau­rant. He goes Kevin, do you notice how many peo­ple are watch­ing me right now? Yeah.

Kevin Lawrence 23:09

Well, if I’m sit­ting here, I’m pulling out my own cred­it card to pay for a bot­tle of wine. I’m set­ting an exam­ple. You know, and and and I’m set­ting an exam­ple with my behav­iors. Right? And I set an exam­ple with the ques­tions I asked in the com­ments I said, but it’s he said basi­cal­ly, it’s it’s he’s set­ting the behav­ior of the you know, if the own­er pays their own way, maybe more should prob­a­bly pay their own way, and espe­cial­ly those loss­es of restau­rants. So there’s that there’s the there’s the you know, there’s the dis­ci­pline around it. But and again, to go back to BP grand­par­ent, you know, he’s talk­ing about how, you know, he role mod­els focus­ing on the big cir­cle oppor­tu­ni­ties, and not real­ly pay­ing atten­tion, but he’s also not stu­pid with mon­ey. He was­n’t stu­pid with mon­ey when he was a CEO with it.

Brad Giles 23:55

Yeah, yeah, some parts of the busi­ness, you need to focus on the cost con­straints you need to but it’s the broad issue here that as a, as a the leader of your house, let’s say or one of the ladies of your house, or one of the lead­ers of your busi­ness. It’s a bad, it’s a prob­lem­at­ic mind­set that you can get into where you think that you can save your way to suc­cess. Instead, just accept that there is a cost of doing busi­ness. But the com­pound­ing effect of focus­ing on grow­ing rather than sav­ing can pay immense dividends.

Kevin Lawrence 24:39

So when you’re think­ing about where you and your team are focused, think about that. Are we over­ly focused on the wrong cost sav­ings or maybe you need to do some more. But make sure it’s the big pic­ture like seri­ous, the air­plane com­pa­ny, you’re focused on the rel­e­vance scale of cost sav­ings and and and At least at the lev­el, you’re work­ing out with exec­u­tives and lead­ers at the front lines, they might focus on some of the small­er things. And that’s okay, too. But then real­ly is there enough ener­gy going to the oth­er things that cre­ate growth. And as Brad’s exam­ples of the com­pound­ing of growth, imag­ine if some­thing would add a new cus­tomer or add a new ser­vice to a new cus­tomer, what­ev­er it hap­pens to be, your report­ing does­n’t need noth­ing needs to be per­fect. It needs to be good to very good, and then per­fect­ly take care of the cus­tomers. Awe­some. Any­thing else you got there? Brad?

Brad Giles 25:29

Not real­ly. Just know that it’s a mind­set. It’s a trap that you can fall into. And if you can shift your mind­set, yeah, it can com­pound and it can be real­ly, real­ly effec­tive. So I’ll just share one last

Kevin Lawrence 25:44

sto­ry before we close you know, I was just talk­ing to some­one today. And they were talk­ing about some of my per­son­al life and how, you know, they’ve been over­charged by $10 at a store, they’re at the oth­er day, and how they went back to get it because that was a waste of $10. And I just sort of chuck­led and I did­n’t in this sit­u­a­tion. I did­n’t want to say any­thing par­tic­u­lar about it. I did­n’t want to be rude, but I did the math in my head. It cost them more than $10 to go get their $10 Yep. Right, it prob­a­bly took an hour of time.

Kevin Lawrence 26:16

then there’d be some gas or petrol to go in the car, you know, and wear and tear on a car like we add all that up it out. If you add any you add min­i­mum wage val­ue to their time, it costs them mon­ey to go get their $10 Yep, that’s a hard thing for some humans to do per­son­al­ly. And even more so in busi­ness I can some kind of times it’s just not worth it.

Kevin Lawrence 26:40

So this has been the growth whis­pers thanks for lis­ten­ing. This is Kevin Lawrence and I’m here with Brad Giles and if you want the video ver­sion, go to youtube​.com look for the growth whis­pers and to reach Brad evo­lu­tion part​ners​.com​.au Kevin is Lawrence and co​.com. So keep an eye on your pen­nies. But ide­al­ly start chas­ing the dol­lars or keep chas­ing the dol­lars or the 10s of 1000s of dol­lars or the mil­lions of dol­lars and doing good work. Alright, have a great week.