071: George Packard – The Importance of Growing Your Business

George Packard and Stan discuss the importance of growing your business so you create a safety cushion if you get injured, sick, or worse.  If you don’t want to grow your business for yourself, do it for the ones you love.

​​Be smart about your advertising.  At the very minimum, there should be a 4 to 1 return on all advertising money spent. A good return is 20 to 1. And, once you master advertising, you should be shooting for a 200 to 1 return.

Be smart with your money.  Reinvest it into your business to continue growing.

When you find out your employee is no good, get rid of them fast. Be slow to hire, quick to fire.  When you find a good employee, do what you can to keep them around.  Up their pay and maintain good communication. Give them personal attention so they know you want them to stay around..

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