Host Ken Courtright gives a short discussion about the importance of having someone to audit your business. We sometimes are complacent with the way our business already runs, but can we still improve on things? Learn from this podcast episode as we are reminded about making our business more efficient by getting expert advice through auditing.
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Face It To Fix It
When is the last time you brought in an auditor? When is the last time your company has had an efficiency audit? When is the last time your company has had a marketing audit? When is the last time you’ve had a financial audit? I’m not talking about from the IRS. I’m talking about a third party company comes in and audits your finances. I’m saying this because I’m living through an education, both world-class from our two mentors, David Corbin and our new CEO, David Kelley, but also from Pepperdine. We’ve been there for 6 to 8 months in a fifteen-month course. It’s nothing but an audit. You go there, you think you know what you’re doing and then they put your company through an efficiency audit, a marketing audit or a finance audit.
In business, what does it hurt to audit? Costs a couple of bucks. What does it hurt to not audit? Might cost you a lot. Click To TweetI would definitely say I know marketing and yet I’m going through the marketing and strategy course and there are fundamentals that I’ve never heard of. How would I? I didn’t go to school for it. I didn’t go to an advanced degree for it. I didn’t have a mentor in that particular field. Here’s the point, and I’ve mentioned this in some older episodes. There’s a pretty well-known book called Illuminate by David Corbin. The concept is face it, follow it and fix it. Face the thing that you know is wrong. If you don’t have an audit, you won’t know what’s wrong.
Because you’re an eternal optimist running your division, your company, your family, whatever you run, you think it’s running efficiently. You might be efficiently ineffective. You don’t know unless you bring in an expert that can audit it. What does it hurt to audit? It costs a couple of bucks. What does it hurt to not audit? It might cost you a lot. First of all, go get the book Illuminate. It’s a little paperback book. I read it in two days. I’ve read it twice. It’s really a kick in the teeth. It’s hilarious too. I would start with the book, but as the book will also confirm, you might want to get some auditors in, third party. You don’t even have to pay him.
Find somebody to come in and do an audit and maybe trade services. This is what McKinsey and Accenture do. They basically say, “Here’s what you’re doing, but here’s what’s really working in the world and in the marketplace. You’re missing this and this. If you add this and this, you’ll be 22% more efficient.” The key is if you don’t know what’s wrong, you can’t face it, you can’t follow it and you can’t fix it. I suggest you go illuminate it and become more efficient. I hope this helps. Take care.
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