Chapter
The Four Week Vacation and Creating an Owner-Independent Business
32:27 - 38:47 (06:19)
The four week vacation is a concept of creating a business that can still thrive even when the owner is fully disconnected physically and digitally for four consecutive weeks. To achieve this, the business must have consistent sales and profitability before focusing on efficiencies and becoming independent of the owner.
Clips
The University of Mississippi, also known as Ole Miss, had the lowest application rate of all the schools in the SEC.
32:27 - 33:23 (00:55)
Summary
The University of Mississippi, also known as Ole Miss, had the lowest application rate of all the schools in the SEC. They hired Jeff McManus to beautify the campus, which ultimately solved their sales problem and improved attractiveness to students.
ChapterThe Four Week Vacation and Creating an Owner-Independent Business
Episode#165 - Mike Michalowicz - Fix The Biggest Problems In Your Business
PodcastModern Wisdom
By making simple changes, a lawn care company was able to mow a 1000 acre property in half the time, allowing them to focus more on beautification projects.
33:23 - 36:25 (03:01)
Summary
By making simple changes, a lawn care company was able to mow a 1000 acre property in half the time, allowing them to focus more on beautification projects.
ChapterThe Four Week Vacation and Creating an Owner-Independent Business
Episode#165 - Mike Michalowicz - Fix The Biggest Problems In Your Business
PodcastModern Wisdom
Efficiency and sales play a crucial role in business growth and profitability.
36:25 - 37:29 (01:03)
Summary
Efficiency and sales play a crucial role in business growth and profitability. A company must have consistent sales and profitability before focusing on efficiency, which can ultimately lead to more sales and growth.
ChapterThe Four Week Vacation and Creating an Owner-Independent Business
Episode#165 - Mike Michalowicz - Fix The Biggest Problems In Your Business
PodcastModern Wisdom
A successful business should be able to operate and flourish even when the owner is not present.
37:29 - 38:47 (01:17)
Summary
A successful business should be able to operate and flourish even when the owner is not present. Taking a four week vacation is a good way to test this independence and ensure that the business can continue to succeed without the owner's constant input.