Dan Martell - January 18, 2024


I’m an open book in all aspects


Episode Stats


Length

52 seconds

Words per minute

248.94353

Word count

216

Sentence count

9


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I talk about how important it is for your team to understand the numbers so that they can solve the problems that you actually have. If they don't understand how the business works, then they can't bring you good ideas. The creativity of your team is constrained by their ability to understand what the numbers are going on so they can actually bring you solutions to problems you actually DO have.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 Todd runs a media company and he asked me the other day,
00:00:02.080 he's like, hey, we're doing our offsite,
00:00:03.360 what's your philosophy on sharing numbers?
00:00:05.240 And I was like, 100% open book.
00:00:07.000 The moment we hold the information to ourselves,
00:00:09.920 we don't allow people to understand
00:00:11.940 how to solve the problems.
00:00:12.960 And I said, watch this.
00:00:13.820 And I screamed across the room and I said,
00:00:15.320 hey, Lowen, how much do you think
00:00:17.440 we spend a month on media?
00:00:19.380 We know, Todd and I, but like most people don't know.
00:00:22.260 And his number was like off by like 50%.
00:00:25.220 If the people don't understand how the businesses work
00:00:27.960 and how the revenues flow,
00:00:29.320 How much did sales sell for?
00:00:30.600 What was the cash collected?
00:00:31.580 How did marketing do?
00:00:32.480 What was their cost per lead?
00:00:33.480 Then they can't bring you good ideas.
00:00:35.620 The creativity of your team is constrained
00:00:37.740 by their ability to understand what's going on
00:00:39.820 so that they can actually bring you solutions
00:00:41.920 to problems that you actually have.
00:00:43.620 Have you ever had people come to you
00:00:44.580 with good ideas all the time?
00:00:45.460 You're like, those are all good ideas,
00:00:46.660 but they're annoying because they're not the priority.
00:00:48.440 Well, they couldn't give you the idea that is the priority
00:00:50.740 because they didn't know the numbers.