“The constant, proactive monitoring of your business’s profitability - that is a true growth strategy.”
In this episode of the Master Delegator podcast, Kristy Yoder interviews Lance Johnson, a seasoned multi-business entrepreneur and the founder of Amplo Media, a digital marketing agency specializing in lead generation and customer acquisition. With a rich history of diverse entrepreneurial endeavors starting in his teenage years, Lance brings invaluable insights into effectively managing and scaling businesses.
Throughout the episode, Lance shares his journey from importing farm supplies at 17 to establishing a prominent digital marketing firm. He delves deep into the critical importance of active profitability monitoring and cash flow management for sustainable growth. Lance discusses the necessity of setting profitability targets and repeatedly emphasizes the reinvestment of profits to fuel further business expansion.
The discussion also explores Lance’s innovative approach to Human Resources, particularly in service-based companies. He advocates for a "slow to hire, fast to fire" strategy, stressing the importance of hiring the right fit for future growth and swiftly addressing underperformance. Amplo Media’s positive Performance Improvement Plans (PIPs) and commitment to employee development highlight their dedication to nurturing talent while deftly managing potential exits.
Key Takeaways
Lance poignantly emphasized: "Entrepreneurship is vital for vibrant communities, and effective financial management is pivotal for business sustainability and growth." Embrace the insights shared in this episode to refine your strategies, foster community impact, and secure your entrepreneurial success.
Check out the full episode for more of Lance’s expert advice and fascinating entrepreneurial journey!
Learn more about Lance Johnson here:
LinkedIn
amplomedia.com
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My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
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