Knowing when to pivot - if things don't look good
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Knowing when to pivot - if things don't look good
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Prompted by the closure of a well-loved Wellington brewpub, this episode is a masterclass in reading the warning signs early. Mike and Scott break down lead vs. lag indicators, the three essential financial statements every owner should actually understand, and why the best time to pivot is three months before you think you need to.
You'll learn:
-How to track lead measures (things you control) vs. lag measures (outcomes);
-The balance sheet, P&L and cash flow explained in plain English;
-Four common types of pivot (product, customer, pricing, cost base);
-How to turn assumptions into cheap experiments before committing real money;
-and why "get the umbrella when it's sunny" keeps coming up for a reason.
Beer: Fortune Favours The Mystic Hazy IPA (5.8%)
Pie: Pie Rolla's — Steak, Stout & Cheese
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