Shanli Liu, CPA, CTPFreedomfolio · I help 7 to 8 figure service business owners and ecommerce sellers keep 10K to 75K of profit- without IRS headaches | CPA. Virtual CFO. Tax Resolution Pro | $5MM+client tax savings | Book a free 15 min strategy call

Kill as much as you create

Name: Kill as much as you create
Uploaded: 2023-01-13T18:00:00+00:00
Duration: 30 s
Channel: Shanli Liu, CPA, CTP
Description: In this brief talk, the speaker cites a McKinsey study showing that top CEOs prune their businesses three times more often than average CEOs. The core…

13 Jan 2023 · 1 min

Watch on YouTube

0:30

In this brief talk, the speaker cites a McKinsey study showing that top CEOs prune their businesses three times more often than average CEOs. The core message is that successful leaders continuously eliminate low‑value activities to focus resources on the most critical priorities. Entrepreneurs, the speaker notes, excel at creating and launching new ideas, but can quickly end up with a fragmented "Frankenstein" company composed of many product lines. The recommended practice is to regularly prune existing initiatives before adding new ones, thereby conserving energy and aligning effort with the most important goals.

Chapters

Kill as much as you create. So a study done by McKinsey talks about how the best CEOs will prune their businesses 3 times more than the average CEOs. That means that they're constantly looking at what do they need to stop doing so they can conserve energy and put it towards the most important thing. And so that's why most of the time what entrepreneurs are really good at doing when they get started is they're super good at creating, they're good at starting, they're good at innovating, and all of a sudden they realize they have all these different things and it's like this Frankenstein of a business with 7 different product lines. And that's why you have to keep this in line. Don't start something new without pruning the tree first.