Business Mastermind PodcastGeorge McGehrin On Building Three Businesses After Losing Everything In The Global Financial Crisis
When it comes to business journeys, there are few more remarkable than that of George McGehrin, who from the rubble of the global financial crisis, built three incredible businesses that grew to 6, 7, and 8-figure revenues.
In this week’s special, and very timely show, George joins Gavin to discuss his take on entrepreneurialism, how he scaled three businesses in rapid succession, and the lessons he learned from the last recession that have ensured that he is much better equipped to face any challenges in the future.
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KEY TAKEAWAYS
- Having worked through collapse in the past, George recognised that a cash buffer was essential. From 2009, 10% of all profits were saved in an emergency fund, meaning that he is now well-equipped to see his business through any future challenge.
- We should be cutting costs wherever possible and doing our best to increase profits. The 80/20 principle should be aimed for at all times in order to focus upon the areas in our business that are working for us.
- Know the value of your own time. Delegate the tasks you’re not great at whenever you can, and don’t spend your invaluable time on anything unless you know you can do it well.
- Business is just a big mathematical problem. When you boil it down to its essence, then by solving the maths at the heart, we solve the business problem itself.
BEST MOMENTS
‘I did it their way, now let me try it my way’
‘You get to the point where you can’t outsell your stupidity’
‘You need to know the math problem that you’re solving’
’The beautiful thing about running a business is that you get paid literally to the penny what you’re worth'
VALUABLE RESOURCES
The Business Mastermind Podcast
The McGherin Group - https://www.mcgehringroup.com
George McGherin LinkedIn - https://www.linkedin.com/in/gmcgehrin/
George McGherin Twitter - https://twitter.com/exec_headhunter?lang=en
ABOUT THE HOST
Gavin Preston
Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and
high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years.
Gavin’s energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline
Managers. He is an expert in Business Growth Strategies, Peak Performance
Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership
Development, Team Development & Motivation, Leading Change, Stakeholder
Management, Personal Effectiveness and Behavioural Change.
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