In this rapid‑fire interview, Professor Pete Alexander hosts Neville Joffey, a specialist who teaches business acumen and financial literacy to non‑financial owners and managers. Neville shares why he finds the industry’s resistance to learning amusing, and highlights his core teaching principle: avoid "doing the wrong thing more efficiently" – a concept he expands on from Chapter 12 of his own book, urging leaders to reset processes, engage employees, and shift from cost‑cutting to culture‑building. He stresses that sustainable profit, cash flow, and employee engagement are the true drivers of lasting business success, encapsulated in his memorable line, "Revenues are vanity, profits are sanity, and cash flow is reality." Neville also recounts a formative lesson from his first job in his father’s clothing factory – that one’s word is a bond – linking credibility to organizational culture. He recommends fellow business leader Judy Hoberman for future episodes and provides his contact details (bizwisdom.com, @bizwisdom). The conversation blends humor, practical advice, and philosophical reflections on integrity in business.
Chapters
This is Professor Pete Alexander with the Winning at Business and Life podcast, where business leaders share their insights. It is 6 questions in 7 minutes because successful business leaders are busy and rarely have more time to spare. So let's get to it. Question number 1: In a few sentences, please tell me who you are and what you do.
Hello, my name is Neville Joffey. I specialize in teaching business acumen and financial literacy to non-financial owners and managers in businesses.
Well, Neville, it is an absolute pleasure to have you on the show. Question number 2, what is something that makes you smile and/or laugh about working in your industry?
I think most people would rather have root canal without anesthesia than have to learn this topic. So that within itself makes me smile. But mostly it's the naivety of business operators who tend to think that they can achieve their financial goals but not change what they do. And I find that quite amusing actually.
Yeah, and it's interesting there that I can only imagine with all the different companies that you've worked with, the stories you could tell.
Oh my word.
Indeed. Question number 3, I have a fictitious book with all the answers for business. What chapter would you think most companies should read?
Well, it's funny, I just wrote a book on this, on this topic. The one chapter, if I were to choose any of them, I think would be Chapter 12 called Don't Do the Wrong Thing More Efficiently. Hmm.
Oh, can you— yeah, can you explain that a little bit more? That's interesting.
Yes, absolutely. People keep tending to improve what they've been doing without going back and resetting re— and resetting the process, if you will, by going back to a zero-base mentality. In other words, they keep doing the wrong thing more efficiently, thinking they get better results, instead of going back and reevaluating process. Because what might have worked 2 years ago, for good reason, might not work today. So we tend to— we have to go back and reevaluate what we do. So for example, um, we tend to want to do things more and more ourselves as business operators and owners without really, without really engaging our employees. Because there's a, there's an acre of diamonds lying resident amongst the wisdom of one's employees. And by taking on more and more as a business grows, you're doing the wrong thing more efficiently by trying to improve process rather than going back and actually engaging one's employees, because owners cannot do this alone. They need to get the employees engaged, they need to get them educated, they need to get them accountable, they need to be incentivized. Mm-hmm. Yes, that to me is doing the right thing more effectively rather than the wrong thing more efficiently by discounting and seeing where they can save costs. I'm not saying they shouldn't do that, but that is doing the wrong thing more efficiently rather than re-evaluating the culture of the organization.
Very insightful. Thank you for that. Question number 4: Other than the generic work harder, have a great attitude, and care for customers, what advice would you give to other business leaders?
Well, that really speaks to the last question. By engaging— a business exists for one ultimate reason. It should drive sustainable profits and cash flow. The word Sustainable is the operative word. So if owners and employees were to understand the power of engagement of the employees— you go back one step. I'm a strong advocate of this phrase: people— no one washes a rented car. There's no sense of ownership. Nobody washes a rented car. Owners need to go back and reevaluate how they can engage and incentivize their employees, because they cannot do it alone. They need to get themselves educated to understand the financial implications of operational behavior, because most people don't know what they don't know. So they need to get themselves educated with financial literacy. It doesn't mean they have to become accountants, heaven forbid. That's not what we're talking about. But just understand the implication of what you do and get your employees to understand it as well. And I believe that if you can get your employees engaged at that level, you will find retention will improve. Why? Because people leave because of money, but they stay because of culture.
And that is really, really insightful because I absolutely agree with you based on my experience working for different companies. And as you were talking about that financial literacy, I always think about how many times I worked with people who thought that the top top-line revenue dollar, let's say a single dollar of top-line revenue, had the same impact as reducing costs by a dollar. And it's totally different. And it's just, that's a very simple concept, but most people don't even understand that. So what you're saying is so, so important for financial and business success.
Yes. Here's a thought for your viewers. Revenues are vanity. Profits are sanity, and cash flow is reality.
Oh, I like that. I like that a lot. Did you use that in one of your books?
Yes, sounds like it. I did. Absolutely.
Yeah, I figured that's too good not to, uh, not to have published.
Yeah.
So question number 5: What other business leader like yourself would you like to acknowledge and invite to be on my podcast?
Um, I think Judy Hoberman would do really well for you. She's fabulous, um, on video. She presents beautifully and her message is profound. I think she would do really well for your listeners.
Wonderful. I look forward to reaching out to her. And our final question, question number 6: please tell me about your first job.
Oh my word, since I was a little boy, I used to work in my dad's clothing factory. And he, he was of old school. And I'll always remember words that he used. Whenever you got any kind of deal, any kind of arrangement, he always said, 'Neville, your word is your bond, and never forget it. You don't need fancy agreements. Your word is your bond.' And I'm a strong advocate of that. I never forgot it. And And in fact, one of the chapters in my book talks about credibility. Just do as you say you're gonna do. We would live in a far better world and companies would do so much better if everyone were to embrace that philosophy that I learned from my dad during the early days when I worked in these factories during my school holidays. It'll always remain with me.
I really like that a lot. And it's so true because without, you know, if, people can't count on your word, they can't trust you. Am I right?
Absolutely. That's how you build goodwill. That's how you build a culture in your organization by building a culture of integrity. Just do as you say you're going to do. If you cannot, then be upstanding to say so.
Absolutely. It's a simple concept but profound effects on it. So wonderful. And I love this story. So thank you for that. And Neville, so Neville, thank you so much for being on the show. How could people find you?
Well, they can contact me at Neville, N-E-V-I-L-L-E, @bizwisdom, bizwisdom.com. I love a good debate in case you didn't notice. And I think you're going to share my website on your screen.
Absolutely. So you can, people can reach out and connect with you. So thank you so much for that. And this is Professor Pete Alexander with the Winning at Business and Life podcast. Find hundreds of previous episodes on your favorite podcast app. Thanks for listening.
