After owning 6 to 10 automobiles in your lifetime, you start to notice something: Every car, truck or motorcycle has its own optimal speed for fuel efficiency or MPG (miles per gallon).
The same goes for for every different business vehicle or firm around.
Every time you go over the optimal speed, you’re wasting cash flow (or gas) depending how you look at it. The risk is taking a chance to make it to your destination “on time.”
In business “gas” means cash flow and “on time” means payrolls, investment opportunities, a new pool in your backyard and/or more hard earned cash in your pocket.
For most moving vehicles, the optimal speed is about 55-60 mph. (A speed that’s not too fast or not too slow.)
By cruising at the right pace, you’re guaranteed to make to the next check point. Just like making that payroll, hitting a gas station just in time or a bathroom break on a long trip.
Do you know your MPG? In business, we call that “controlled profitable growth.”
It's relative, to how fast and/or how much you want income you want and how you desire to enjoy the trip along the way.
May I ask, how does your MPG match your goals, check points and your strategy in life?
How will know you're making good progress or if you will just run out of gas?
You'd be surprised to learn that a slight decrease in your driving speed can significantly reduce your gas consumption, while only adding a few minutes to your travel time. In business, we call that running optimized.
So how do you want to arrive?
Breezing to the finish? Or pushing to the next station?
You make the call.
P.S. Want to just talk "business owner to business owner"? Call me (Bill Baylis) directly at 516-544-8118