Hey Gene Marks – Quick 15 Percent of 129 is 19.35

I recently stumbled across Gene Mark’s article on The Huffington Post entitled, “Quick: What’s 15 Percent of $129?

In this article Gene explains that successful business owners are usually good with numbers. There are certain key indicators, that Gene suggest, business owners need to have top of mind at all times. Either that, or the ability to calculate these numbers Quickly.

At the end of the article Gene goes on to suggest that if you don’t have the head for numbers, you’ll be at a disadvantage. What this means is you’ll have to have people around you, whom you can trust to keep you on top of your game. Maybe like a CFO?

In my 2013 interview with Gary Vaynerchuk I asked him about managing his business from the numbers, and he discussed how he has people whom he relies on for these things. In his Gary’s case, it’s so he can stay focused on “The Hustle.”

I’d like to propose another way.

Use technology. Use the tools that are available.

Use QuickBooks Online’s automated reports to send you the high level information you need.

Then create a template in say Google Sheets, where you can calculate the important numbers you need, so you don’t need to keep them in your head.

You can have your CFO help you with this, or hire me!

Have someone prepare this for you each week, and get it Starred in Google Drive so you can access it on your mobile device, and from anywhere in a click. Maybe two clicks.

Use Finagraph to help you calculate, and better understand these numbers and why they’re important. The timing is good here, because I am presently rolling out a course on How to Evaluate a Company – Analytics and Business Valuation

Let’s see how to set this up. In the video above I’ll show you how you can create and schedule the memorized reports in QuickBooks Online.

Then I’ll show you how to get it into Google Drive in less than 30 seconds.

Then I’ll show you how to calculate some important numbers.

Then I’ll show you how to “Star” it in Google Drive.

Then I’ll show you how you can access it in 5 seconds from your mobile device.

Are you ready? Click play on the video above.

Got questions?

Bang that comments box and write me something. I LOVE getting your comments, and responding to them.

My Interview with Gary Vaynerchuk Thursday May 2, 2013

On Thursday May 2, 2013 I had an opportunity to interview Gary Vaynerchuk on the phone.

For some reason I never published this anywhere. yesterday I was going over some very old follow up notes in Evernote, and I ran across this. It is only about 20 minutes, so I listened to it. I was especially curious as I remember discussing what was hot in social media at the time. Vine was big then, it isn’t anymore. I suppose it could be said that Snapchat is the new vine.

We discussed how technology would advance. Twitter was still Gary’s top social media platform at that time. I wonder if it still is? There has been much talk this year (2016) that Twitter has gotten too noisy. I still like it the best, even though I spend most of my time on Facebook.

I asked Gary about how much focus he places on the accounting. I had to, I am an accountant first and foremost. He agreed, of course, that it is very important, but that he himself doesn’t place as much focus on it as he should. My takeaway from this was that he knows his numbers. Gary knows what he needs to know, but he also hired the right people (including his brother) who really know the accounting. He relies on them to watch this part. Gary’s focus then (and I am sure now) is on the hustle. Gary discussed how he was in “execution mode.” I am guessing he still is. More than ever.

In 2013 Gary said VaynerMedia had grown from 40 to over 200 employees. I know it is much more than that now.

The most important thing that Gary said to me

was when I asked him where he gets his inspiration from.

Where does Gary Vaynerchuk to to learn? Where does he go for guidance?

As I listened to Gary’s response yesterday, more than three years after he gave it, I was floored. I stopped and asked myself, “how did I miss that.” Maybe I am doing it all wrong? I have been following a number of people, all of who talk about how important it is to read, and have mentors. At the same time I have also heard Gary say that he doesn’t do any of this. He’s too busy executing.

Perhaps the best advice is to do both. Read. Have mentors, but I wonder how many people are doing what Gary said he does in this interview.

Listen. Take notes. When you hear his answer, comment below. I’d like to discuss this with you, and see what ideas we can come up with, to incorporate Gary’s answer into our own strategies for building our businesses!