Episode #30 – CEO Retreat

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Thanks for joining me today. I want to chat about something I do every November, usually the week of Thanksgiving. It’s a special work trip that I call "CEO retreat."

Ever thought about taking a little trip by yourself to dream big and plan for the future? If not, you're missing out! Stick around, and I'll tell you all about why these trips are amazing for me and how you can do one too. Let's get started!

So, what's a CEO retreat? For me, it's spending 2-3 days all by myself, dreaming and planning. No meetings, no friends, just me and my ideas.  I usually pick a cool hotel in a fun place like a beach or a city. But I live in Ohio with cold winters, so I usually go south because I like it warm!

During the day, I write down my dreams and plans. I also take breaks to relax, maybe go for a walk or enjoy a spa day.  By the end, I have lots of notes about my goals. Some are for now, and some are big dreams for the future.

You might wonder, why go alone? Well, these trips help me stay excited about my work. Without them, I might feel bored or lose my energy.  I've been doing these retreats for a while now, and they always help me feel refreshed and full of new ideas. 

Ever felt like you're just doing the same thing every day? That's how I feel without my retreats. If I don't take these trips, I start to feel stuck. My ideas don't feel fresh, and I'm not as excited about my work. Plus, when I skip them, I'm not as fun to be around. I get easily annoyed and miss that spark of excitement.

But after a retreat, I come back full of energy and new ideas. I feel like a better leader and have a clearer vision for the future.

Here are the top 12 benefits I get from my CEO retreats:

1. Mental Clarity: Time alone lets you think deeply without distractions.
2. Boosted Creativity: New ideas flow freely when you're in a relaxed environment.
3. Renewed Energy: You'll feel refreshed and motivated after your retreat.
4. Better Decision Making: Connecting with your core purpose helps you make choices that align with your goals.
5. Increased Confidence: Dreaming big boosts your self-belief.
6. Enhanced Leadership Skills: With fresh insights, you'll lead your team more effectively.
7. Joy Rediscovery: Remember why you started your journey and feel proud of your achievements.
8. Improved Work-Life Balance: Taking time for yourself helps you balance work and personal life.
9. Stress Reduction: A break from daily routines reduces stress and anxiety.
10. Networking Opportunities: Sometimes, these retreats offer a chance to meet other like-minded individuals.
11. Skill Enhancement: Use this time to learn something new or enhance your existing skills.
12. Personal Growth: Reflecting on your journey helps in personal development.

I hope hearing about my trips makes you want to try one too, especially if you've been feeling tired or stuck. We all need some alone time to think big and get inspired. Don't wait until you're super tired. Take a break and recharge. You'll come back feeling amazing and ready to take on the world!

Listener’s Question of the Week

It’s time for our listener’s question of the week.  Today’s question is from Anita.  I have set up Profit First in my business. I’m allocating $250 per week to my profit, owner’s pay and tax accounts. Everything else is going into my OpEx account. I don’t think this is working right because I don’t know what to do with the percentages.

Hi Anita! Great start with getting your bank accounts opened and making your allocations.  I would ask how you came up with $250 per week for the first 3 accounts. Do you have fixed rate contracts – meaning your income is the same every week? 

What I like about Profit First is the percentage aspect of it. While I have fix rate contracts, I have different amounts of money coming into my firm every week. So, my allocations are never the same amounts week to week.

How the percentages work are from the Instant Assessment, start with the percentages that you are currently spending on each category. That’s your starting point for the first quarter.  At the start of the next calendar quarter – as of right now, it would be January 1, 2024, add or subtract 1% to each of the profit, owner’s comp and tax accounts to get closer to the target allocation percentages shown in the book. Change your OpEx percentage to the percentage needed to get to 100%.

I will provide a link to my spreadsheet in the show notes that will help you figure this out easier. It does all of the math for you.  You can grab your copy HERE.

If you have a question to be answered on a future podcast episode, please send it to [email protected].

Inspirational Quote

This week’s inspirational quote is from anonymous, “Simple rule in life: if you would not like it done to you, do not do it to others.”

Final Thoughts

Final thoughts for today! What do you think? Do you already take a CEO retreat or is this a new idea for you? Maybe you do an executive retreat with your key staff. I work in my office alone almost every day, but the change of scenery is something I really need to get focused on my business. I can dream big. Get the dreams all down on paper and then work to build my game plan from today to reach my goals. 

It's so refreshing to me to give myself the green light to put my phone on do not disturb and not look at my inbox for a few days while I focus on the next steps I need to take to elevate my business.

Do you have a different approach? I’d love to hear about it. Please share it with me in the comments below!

If you have any questions about today's episode please let me know. If you're watching on YouTube, you can comment below or send me an email to [email protected] and if you know someone who might need to hear this information please share this episode with them or if you're on YouTube, you can tag them below. 

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Did you enjoy this episode? Please consider leaving a review. 

And before I go, remember profit is something you intentionally plan for in the beginning. It is not a potential bonus at the end of the year. 

Thanks and have a great day.

Ever thought about taking a little trip by yourself to dream big and plan for the future? If not, you're missing out! Stick around, and I'll tell you all about why these trips are amazing for me and how you can do one too. 

Here’s a link to the spreadsheet I refer to in response to the listener’s question of the week. You can grab your copy HERE.

Be sure to follow and subscribe to get notifications for future episodes!

✉️ EMAIL: [email protected]
📞CALL: (234) 207-5772
💻 VISIT: ProfitScaleThrive.com

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