Skip to content
POWER100
Join Free
Content

Mike’s solo – How To Swing Big In Business (And Limit Your Loss)

⏱️ 22:39 🎤 Mike Gore-Hickman
AUDIO EPISODE
Mike’s solo – How To Swing Big In Business (And Limit Your Loss)
0:00
0:00

Chapters

Click to jump to section

  • 0:00
    Introduction to Big Swings
    Mike introduces the concept of 'big swings' in business, highlighting how the scale of risks taken directly correlates with potential success and growth.
  • 2:08
    Business vs. Casino Risks
    The host distinguishes between casino gambling and business risks, explaining that in business, you can influence inputs, outputs, and risk levels for unlimited upside.
  • 3:24
    Production Manager Example
    Mike uses hiring a production manager as a concrete example to analyze the risks, potential rewards, and strategic thinking involved in a significant business investment.
  • 5:05
    De-risking the Investment
    He explains how to de-risk hiring by focusing on a 90-day assessment period and incentivizing desired outcomes through a tiered compensation structure.
  • 7:52
    Understanding Your Numbers
    The importance of tracking key performance indicators (KPIs) for new hires like sales representatives is discussed, showing how data provides clarity and allows for targeted coaching.
  • 12:41
    Theory of Constraints
    Mike introduces the theory of constraints as a method to identify the primary obstacle hindering business growth and decide where to take the next big swing.
  • 13:40
    Coaching Challenge Invitation
    The host invites listeners to a special three-hour coaching challenge designed to help them develop a 2026 business plan and identify their specific constraints.

Speakers

M
Mike Gore-Hickman
Host — Founder of paintergrowth.com

Key Takeaways

✦

To achieve significant growth, be willing to take calculated 'big swings' in your business rather than playing it safe, understanding that greater risk can lead to greater reward.

✦

When considering a major investment like hiring, analyze the potential financial upside over a longer term (e.g., a year) instead of solely focusing on short-term costs and immediate profit reduction.

✦

De-risk new hires by planning a 60-90 day evaluation period, as this is typically enough time to assess their potential and make decisions, rather than committing to a full year immediately.

✦

Structure compensation with multi-tiered incentives that align with your desired outcomes (e.g., quality, efficiency, customer satisfaction) to motivate employees and mitigate investment risk.

✦

Define and track specific key performance indicators (KPIs) for any new role or initiative. Regularly review these numbers to provide targeted coaching and ensure the investment is moving the business forward.

✦

Identify your business's primary constraint (e.g., leads, production capacity, sales) using the 'theory of constraints' to determine the most impactful area for your next 'big swing' or investment.

Want the full experience?

Join Power100 for full access to every episode, AI-powered insights, personalized coaching, and a network of industry leaders.

Join Power100 →