“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.
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