Part 2. John Mautner, the founder of Cycle-of-Success Institute, is a seasoned entrepreneur who launched and built four successful companies in the past 20 years. Inc. Magazine named his first business as one of America’s 500 fastest growing companies–John tells us the top 10 tools for building a profitable high growth business!
John Mautner, founder of Cycle-of-Success Institute, (COSi), formed his company in 2001, with the intention of providing small and mid-sized businesses with a practical business education program. Since then, COSi has educated and coached over thousands of graduates in the Midwest.
As a sign of appreciation for all that COSi accomplished to grow businesses that grow communities, Governor Pat Quinn named March 16th “COSi Day” in the state of Illinois.
John tells us the top 10 tools for building a profitable high growth business, on this episode of Revenue Chat.
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- John Mautner of learncosi.com and theprofitpattern.com continues this interview with #5 of the top 10 tools to build a high growth business.
- #5 of the top 10 tools to build high growth business: Poor inventory management.
- Inventory is a humongous investment for companies. There are different kinds of inventory but it doesn’t get managed well.
- John does the dust test with companies and digs in and finds old inventory forgotten about.
- Old inventory can be a safety hazard and getting rid of it or selling it frees up space.
- John Mautner has a process called 5S to clean up old inventory.
- Old inventory is like your sock drawer. Disorganized with socks not paired or matched.
- We talk about my own sock drawer and the maintenance of inventory management.
- John discusses getting into a Just In Time Inventory System.
- #6 top 10 tools. Estimating and bidding errors.
- John tells amazing stories of how changes in the cost of goods creeps in and doesn’t get noticed by businesses who wind up actually operating at a loss.
- #7 top 10 tools by John Mautner. Tight cash flow.
- John tears apart how to find cash in a business.
- For poor cash flow companies, get an SOP procedure in place to collect faster.
- Stay in touch with your customers. Get close to them. Help them with their cash flow issues, so that you can get paid.
- Every day that you improve your cash flow is more money in your bank account.
- Your customers are business people too, and they get problems. So you have to work together to help solve and stay in business.
- #8 top 10 tools. Lack of proper project management.
- John gives a law firm as a great example of how to manage teams.
- Discussing the Gant Chart—a visual way to look at a whole project.
- #9 top 10 tools. Communication problems. You can’t touch them and they are almost nebulous, but they happen everywhere.
- There are all types of communications problems in many different ways. John touches upon some good examples.
- Good communications takes listening, and that’s a skill that takes time to get good at.
- Concept of listening: Seek to understand before you’re understood.
- People want to be heard. That’s why we have one mouth and two ears.
- John shares some effective listening techniques such as don’t interrupt the person.
- Also discussed is John’s technique of dead space which motivates the person to talk more and in more detail.
- Good meetings are very important per John Mautner. He likes the stand up 5 minute meeting.
- #10 of the top 10 tools to build a profitable high growth business. Lack of innovation.
- John says, “If you’re not going to innovate, or iterate, you’re going to evaporate. It’s that simple.“
Innovations are small little iterations all the time.
- John seems to be hardwired to always ask, “how do I make it better?”
- John created ABCs of innovation. A: Ask your people how to make things better. B: Brainstorming. Use “focused brainstorming.”
- ABCs of Innovation …C: Consolidate all those ideas. D: Decide on the top 3 most impactful ideas. E: Execute those ideas.
- These top 10 tool are in John Mautner’s bestselling book, The Profit Pattern.
- John Mautner’s purpose. What drives him to keep on.
- Living your dream is much better than dreaming the dream. This is where it’s at. This is where John Mautner is good at helping.
- Reach out to John Mautner at email@example.com
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John Mautner has one of America’s 500 fastest growing companies making over $100 million in 5 years! His top tools are very well surveyed, researched and in use by him as he helps 1000s of businesses expand to new heights. Takes notes and study this well to get your business rocking!
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Tony DUrso, the “Dream Business Maker” and host of the popular Internet podcast, Revenue Chat, Interviews Successful Entrepreneurs who achieved success in their respective fields. Revenue Chat downloads topped 750,000 downloads in 1 1/2 years. Tony is an Amazon Bestselling Author with his 4th book, Elite Entrepreneurs.
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