22 episodes

Welcome to "Don't Waste a Good Recession", a group with positive and practical advice for businesses from 2 to 500 staff. If you want tangible advice you can execute now, not just more waffle, be sure to Subscribe to my podcast channel and join our Facebook discussion group.

Don't Waste A Good Recessio‪n‬ Jacob Aldridge

    • Management

Welcome to "Don't Waste a Good Recession", a group with positive and practical advice for businesses from 2 to 500 staff. If you want tangible advice you can execute now, not just more waffle, be sure to Subscribe to my podcast channel and join our Facebook discussion group.

    Recession Economic Snapshot for Business | July 31, 2020 Update #17

    Recession Economic Snapshot for Business | July 31, 2020 Update #17

    Love your business? Remember to Like and Subscribe to "Don't Waste a Good Recession" - or head to JacobAldridge.com to receive every update to your inbox.
    Since the world changed in March 2020, our Economic Snapshot has been designed to help you make better business decisions. We are all in stormy seas, but some of us arrived in leaky canoes and are trying to fix the boat alone - we will only thrive in this Recession if we do it together.
    Learn more about the new economic fundamentals, and the key business benchmark indicators here - https://youtu.be/vmlVkASk3-U
    In this Snapshot:
    - Welcome 00:00
    - Coronavirus LIVE Cases, Deaths, Change since Last Month 02:21
    - Stockmarket Levels for FTSE, Dow Jones, ASX 200 and comparisons to the Peak and Previous Recession Low 16:19
    - Unemployment Rates and comparisons to Last Month and 5 Year Low 18:24
    - GDP Growth and comparison to previous two quarters 25:20
    - A Recession Update - where are we emotionally, typically, and specifically in this L-Shaped Recession? 29:42
    IMPORTANTLY, every section includes a discussion of "SO WHAT?!" - so what can you do with this information to improve your business?


    Join our next Live event in our free Facebook group at www.facebook.com/groups/GoodRecession
    Welcome to "Don't Waste a Good Recession", a group with positive and practical advice for businesses from 2 to 500 staff.
    If you want tangible advice you can execute now, not just more waffle, be sure to 'Like' this video and Subscribe to my channel.

    • 37 min
    Profit from Your Best Team Member Quitting

    Profit from Your Best Team Member Quitting

    Thank you for Liking, Subscribing, and Sharing! Every click helps me to prepare more case studies and practical guidance for businesses with 2-500 employees.
    How do you feel when a great team member quits? Angry? Sad? Scared? All of the Above?!
    In this Case Study meet Ethan, founder and 100% Shareholder a professional services business in London, UK, during the Great Recession. He felt all of those things as well, and he found when the Recession hit that even more of his best team members were preparing to leave.
    Not because they didn't like him. Not because they wanted to make more money elsewhere. All because those top performers dreamed of one day owning their own business.
    Like most small and medium sized business owners, Ethan had Control fears. He had no desire to ever let any of his team take Equity in his business, and risk them taking control away from him.
    The Accountant said "Pay them more money to stay". A dumb (and expensive) mistake.
    The Lawyer said "Enforce their Employment Contracts, and march them out the door". Not a good way to win friends and influence people.
    My team agreed with Ethan - if he wanted to retain 100% of his business, he could. We also agreed with his best team members - if they wanted to run their own business, that was fantastic too!
    So we found a different solution - one that even the accountants and lawyers were happy with.
    Enjoy this Case Study podcast, then Subscribe for more here and delivery to your inbox at www.JacobAldridge.com

    • 10 min
    Benchmark Business Indicators during the Coronavirus Recession

    Benchmark Business Indicators during the Coronavirus Recession

    Since the world changed in March 2020, our Economic Snapshot has been designed to help you make better business decisions. As the Coronavirus Recession evolves, we are changing these updates from Weekly to Monthly - more signal, less noise, and more time for our channel to support and guide on other aspects of your business.
    In this week's Episode, we start with our weekly Economic Snapshot (05:33 minutes) reviewing Active COVID-19 Cases, Sharemarket movements, New US Unemployment Data, and Updated UK GDP figures for the March Quarter.
    THEN we dive into a deeper exploration of Economic Indicators and how they can help your small or medium business.
    See the list below for ALL the Economic Indicators we researched, and then back-tested against four actual businesses going through the Coronavirus Recession with you.
    Which ones did we find were helpful? Not nearly as many as you might think. It turns out the nightly news (and yes, even Don't Waste a Good Recession's weekly snapshots) are nowhere near as helpful as the Lead Indicators, Current Indicators, and Lag Indicators that are tailored to your country, your industry, and are actually created from your business.
    So see below as well for the fundamental business benchmark indicators I recommend every business owner begin tracking - to help improve communication, and make better business decisions in the only moment that truly matters, the present point of power.
    So our Podcast (please Like and Subscribe) will shift from Weekly to Monthly Economic Snapshots. Allowing our Weekly episodes to dive deeper on other aspects of your business that really matter (and which my IRL clients are benefiting from right now).
    Coronavirus Recession Economic Indicators we Reviewed
    LEAD INDICATORS
    * COVID-19 New Cases
    * Leading Economic Index
    * Stock Markets
    * Bond Yield Curve (2 yr v 10 yr)
    * Oxford Lockdown Index
    * German Ifo
    * Manufacturing PMI
    * China Manufacturing PMI
    * Brazil Exports


    CURRENT INDICATORS
    * COVID-19 Active Cases
    * Consumer Confidence
    * Business Confidence
    * Google Trends (Recovery v Recession)
    * Policy Uncertainty Index
    * VIX Uncertainty
    * Johnson Redbook Index Same Store Sales
    * Open Table Restaurant Bookings


    LAG INDICATORS
    * Unemployment Rates
    * Underemployment / Underutilization
    * Total GDP
    * Quarterly GDP Growth
    * South Korea Exports


    Benchmark Business Indicators for SMEs during the Coronavirus Recession
    LEAD INDICATORS
    * Enquiries
    * Sales Opportunities
    * Pipeline Value
    * Quick Ratio
    * Cash on Hand / At Bank
    * Conversion Rate %
    * Churn Rate %
    * Any of the above by Business Unit / Department / Product / Team


    CURRENT INDICATORS
    * Work in Progress (WIP)
    * Daily Billings $
    * Revenue Change %
    * Gross Profit Margin %
    * Debtors $
    * Debtor Days
    * Inventory $


    LAG INDICATORS
    Your usual Monthly Management Financials:
    * Revenue
    * Margin
    * Valuation
    * Break Even
    * Cash Flow
    * Balance Sheet
    * Changes to PandL
    * Changes to Balance Sheet


    For more information, visit www.JacobAldridge.com

    • 26 min
    How the DotCom BUST and Recession Re-Made Steve Jobs and Apple

    How the DotCom BUST and Recession Re-Made Steve Jobs and Apple

    Thank you for Liking, Subscribing, and Sharing! Every download helps me to prepare more case studies and practical guidance for businesses with 2-500 employees.
    You may not want to build a Trillion Dollar company like Apple - but that doesn't mean you can't learn about business growth during a recession from Steve "Reality Distortion Field" Jobs.
    Steve Jobs’s history with Apple is well known, but I want to focus on a very specific period. Not the mid-1980s when Jobs entered into a power battle and was sacked by his own company; and not the mid-2000s and beyond when the iPhone made Apple the first $1 Trillion dollar company in the world.
    Let’s talk about the dot com bubble bursting, which coincided with Apple bringing Jobs back as CEO after the company almost collapsed several times during the 1990s. Jobs was initially the “interim CEO”; he dropped the “interim” and got serious in January of 2001.
    What had changed was the bursting of the Dot Com bubble in the year 2000. You may recall. At the turn of the millennium there was a genuine belief that, maybe, the internet meant companies didn’t actually need to be profitable to be valuable. Cold reality kicked in a few months later, as interest rates rose, several large mergers failed to eventuate, and the Microsoft Anti-Trust ruling was handed down holding tech companies to the same rules as the rest of us.
    The NASDAQ tech index lost 78% of its value, including 25% in a single week during April 2000. People who say the Coronavirus Recession is unprecedented just have short memories.
    So what did Jobs do, to take a company that was struggling even during the boom and help it buck the trend? Well, he bucked the trend.
    In May 2001, only a Quarter after taking on the official CEO role, Jobs announced the launch of the Apple Store. To stop Apple being poorly presented and undersold by third parties, he was taking back the retail channel to market directly. That’s like Kellogg’s Cornflakes deciding to take up cold calling at breakfast time.
    Then in October 2001, after the events of September 11 sent the whole US economy into a Recession, Jobs launched the product that changed everything: the iPod. ““No wireless. Less [storage] space than a Nomad. Lame,” said Rob “CmdrTaco” Malda on Slashdot in a scathing review.
    What Cmdr Taco and others failed to realise was that the iPod wasn’t created to be Apple’s hero product. It was designed to be small – by the standards of the day – and a cost-effective way of putting the Apple brand into more homes … and more pockets.
    It was also cool, which helped with profit margins. Year on Year sales for Apple almost doubled; Profits were up almost 600%!
    You can’t buy a Classic iPod today. Or some of the variants that followed, like the iPod Mini, Nano, and Shuffle. All discontinued. Apple Computers missed the best of the Dot Com Bubble, but with Steve Jobs they had a head start on the Dot Com Bust and the national recession that followed.
    By thinking long term, they were able to launch a gateway product that saved the company and planted a seed for today, with iPhones, MacBooks, and more. In 1998, less than 1% of Americans bought an Apple product. By 2012, 50% of all Americans owned an Apple product – in fact, an average of 1.6 products. By 2017, that had grown even further, two-thirds of Americans and an average of 2.6 Apple products each.
    Don’t Waste a Good Recession!

    • 7 min
    Noise, Not Signal | Recession Economic Snapshot #15 June 26, 2020

    Noise, Not Signal | Recession Economic Snapshot #15 June 26, 2020

    Remember to Like and Subscribe to help my business and yours!
    This Weekly Economic Snapshot is designed to help you make better business decisions.
    - Coronavirus LIVE Cases, Deaths, Change since Last Week
    - Stockmarket Levels for FTSE, Dow Jones, ASX 200 and comparisons to the Peak and Previous Recession Low
    - NEW Unemployment Rates and comparisons to Last Month and 5 Year Low
    - UPDATED GDP Growth and comparison to previous two quarters
    Join our next Live event in our free Facebook group at www.facebook.com/groups/GoodRecession
    Welcome to "Don't Waste a Good Recession", a group with positive and practical advice for businesses from 2 to 500 staff.
    If you want tangible advice you can execute now, not just more waffle, be sure to 'Like' this video and Subscribe to my channel.

    • 5 min
    How a Recession Created the Toll House Chocolate Chip Cookie

    How a Recession Created the Toll House Chocolate Chip Cookie

    If you Like this episode, tell your friends - then Subscribe and Share for more! Every download helps me to prepare more case studies and practical guidance for businesses with 2-500 employees.
    This is "Don't Waste A Good Recession" Case Study #3 - Ruth Wakefield and the Toll House Inn.
    In 1938, restaurant owner Ruth Wakefield and her husband Kenneth faced a challenge. You might remember the 1930s as ‘The Great Depression’, and bad as the first Recession was after the 1929 stock market crash, in many ways the second Recession during 1937-38 was even worse.
    Ruth was a college educated dietician, and in 1930 she bought and became the chef at the Toll House Inn and restaurant in Whitman, Massachusetts.
    The Toll House was named after the town, where travellers between Boston and the whaling city of New Bedford were once required to stop and pay a toll. It was a white Cape Cod style building that resembled a home which had overgrown, jutting out wings that housed the guest lodgings, kitchen and the dining area.
    The Great Depression was not a great time to be in the restaurant business, especially one famous for its lobster dinners and fine desserts. At heart though Ruth had the entrepreneurial spirit – creativity in the kitchen, and in her business. The restaurant business was what it was; but that didn’t mean there weren’t other opportunities.
    If you’ve ever wondered who invented the meat pie, or the hot dog, or banana bread – you may be surprised to discover that we know exactly who invented another food we take for granted: the choc-chip cookie.
    It was Ruth Wakefield. Some stories say it was an accident, because God-forbid a female entrepreneur be allowed any credit. Ruth herself said it was quite deliberate.
    So what did the Toll House Chocolate Chip Cookie give to Ruth and her business? A new product – one that could be sold individually, and at a low price. A product that could be transported – you didn’t have to eat it in her restaurant, and it would go on to become one of the favourite gifts sent to US Servicemen during World War Two.
    And it wasn’t complicated. Ruth wrote a recipe book, which included the steps for how to make a Toll House Cookie at home. So delicious was the cookie, and so easily could it be made, Ruth was invited to be a guest on Betty Crocker’s nationally syndicated radio show.
    In 1930, Ruth owned one business, an inn with an inhouse restaurant. By 1939, she had four: the inn, the restaurant which was open to the public, the cookbook, and the commercially produced take-away cookies. Cleverley – again, no accident – all four of them were unified under the Toll House Brand, and even today a “Toll House Cookie” in the US is a generic name for chocolate-chip.
    Ruth sold the recipe, along with the Toll House Cookie brand, to Nestle in 1939. And her recipe still appears on their bags of chocolate chips.
    In a time when restaurants were closing, a Recession when they had no other choice, Ruth created a new product, she opened a whole new market that was much, much larger, and she thrived.
    Ruth Wakefield eventually printed 39 editions of her cookbook, and sold the Toll House Inn in 1966. She died, leaving an innovate cooking and business legacy, in January 1977.
    What's the low cost or scalable product/service that your existing customers want to buy? How could you use the Coronavirus Recession to expand your product line and grow your Brand?

    • 6 min

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