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The 3 Things You MUST Be Paranoid About

Thursday, December 22, 2022

The 3 Things You MUST Be Paranoid About

It’s not particularly important to me at the time, but when I had a fairly large company and a bunch of employees, I noticed that at the rate we were using our toilet paper, we must have zero productivity because everybody's gotta be in the John all day long. Obviously the toilet paper is walking out the back door, and going home! Now at the time I had bigger fish to fry, but it's true - in every business. There's all of these little unpleasant pieces of information that are true, factual, and real, that fall under the category of healthy paranoia.

For example, one of the things business owners ignore, is your employees. Odds are they will leave you at some point in time with your client file under their arm and pursue all of your clients. It’s a given.

Now you can try to control that or you cannot try to control that, but you can't say to yourself, “Well, it's not gonna happen with him because he grew up with my brother, and they went to the same school, or she has no ambition so she'll never leave me.” It's not gonna happen.
So the smart business owner needs a healthy amount of paranoia, specifically over these 3 pieces of your business that you should never, ever delegate - you must see this clearly and manage it appropriately.

Number One is the checkbook: Watch the money.

Some umpteenth number of hollywood personalities, celebrities, athletes and business people can all tell you horror stories. I will tell you one quick one.

A friend some years ago has a company and they're doing millions and millions of dollars a month in business, but they're getting further and further behind in paying their bills. He can't figure it out, but like many of us, he's so busy running, doing, and selling that he doesn't have time to really figure out this problem.

His lifelong friend who is running the money has 23 ghost companies that all have vendor sounding names to which he is diverting all of the money. And when finally the bubble bursts and the real vendors won't deliver anything anymore, the company comes to a grinding halt and the lifelong friend of 30 years is gone along with about $11 million.

This happens in small offices too, on a smaller scale. So you got to watch the checkbook. See who's been paid. How much? See if you recognize some names that are unfamiliar to you, amounts that are weird. Don't delegate the checkbook.

Number Two: Don’t delegate the marketing.

Marketing is the highest payoff activity. You cannot make more money doing anything else than doing the marketing. And it just drives us marketing guys crazy when we hear from a client: “Well, I'd like to do all that stuff, but I don't have time to do that.”

I mean, what else are you doing? That's the business.

“Well see, no, the business is putting stuff on the shelves and going out and running errands every day from noon to two”

No. The business is marketing.

Lastly, you don't delegate the legal.

As ugly as it is, you ought to know what they're doing. The worst thing you can ever hear from an attorney is, “Don't worry, I have it under control.” No.

Now these are just some of the things you cannot delegate without ensuring that you’ll lose whatever money you’re making. So if you want some guidance on how to optimize your ‘paranoia’ and where to focus and how, let me give you 3 of my courses for free, plus my book ‘Magnetic Marketing’ when you try my NO B.S. Newsletter today!

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