September 17, 2024

Debi Corrie: Failures Fuel Future Success

Episode 40
“Failure is what you learned along the way so that you can be successful.”

Debi Corrie: Failures Fuel Future Success

Episode 40

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"Gallup just got done with their survey for 2022. They found 25% better profitability in companies that have great employee cultures. Because when you have happy employees, happy employees make your customers happy. Happy employees want to invite other people to come work at their company. Happy employees want to share their ideas to make the company better. All of a sudden, you've created this culture where people want to contribute, and that's the reason we do what we do."

In this episode of the She Lift Project Podcast, host Cynthia Kirkpatrick sits down with Debi Corrie, founder of Acumaxum, a strategic CFO company that specializes in helping businesses optimize cash flow, scale, and drive profitability.

Debi shares her journey from accounting to becoming a pivotal force in helping small businesses break through barriers, navigate challenges, and achieve lasting success. Through personal stories and professional expertise, Debi talks about the importance of failure, leadership, and the impact of a positive company culture on profitability.

Key Topics Discussed:

  • Debi’s Journey: How Debi transitioned from accounting to operations and ultimately founded her CFO strategy company.
  • The Power of Failure: Why Debi believes failure is essential to learning, growth, and long-term success.
  • Cash Flow Optimization & Scaling: Practical advice on how business owners can improve cash flow, hire the right team members, and break through growth barriers.
  • The Role of Leadership: How leaders can foster a culture of respect, listen to their teams, and empower employees to take ownership.
  • The Importance of Employee Culture: How a positive company culture can boost profitability by 25% and why happy employees are critical to success.
  • Risk Mitigation Strategies: How to assess risk in business decisions and mitigate potential downsides.
  • EOS (Entrepreneurial Operating System): The benefits of using EOS to simplify processes, set goals, and ensure accountability across the company.
  • Lessons from Debi’s Personal Experiences: Insights from Debi’s time in transportation, restructuring, and navigating business challenges during the pandemic.
  • Letting Go to Grow: The hard lessons Debi learned about letting go of non-profitable business lines and focusing on what works best.

Key Takeaways:

  1. Embrace Failure: Failure is not the end but a critical part of learning and growing in business. It’s how you handle failure that determines your future success.
  2. Happy Employees Drive Success: A strong company culture where employees feel valued can increase profitability and foster innovation.
  3. Know When to Let Go: Sometimes business owners need to let go of certain services or ideas that aren’t working to focus on more profitable areas.
  4. Sales Pipeline is Crucial: Understanding your sales pipeline and its probability can guide better decision-making and resource allocation.
  5. Listen to Your Team: Engaging with employees and listening to their insights can reveal opportunities for improvement and growth.
  6. Don’t Be Afraid to Pivot: Whether in business or life, being open to new ideas and changes is key to long-term success.

 

Show Notes

🎙️ Introduction and Background (00:00 – 10:57)

  • Podcast host Cynthia Kirkpatrick introduces guest Debi Corrie
  • Debi is owner/creator of Acumaxum CFO strategy company
  • Debi has written books, spoken at events, won awards
  • Debi helps businesses with cash flow optimization and scaling
  • Debi believes in learning from failure and taking risks

Acumaxum’s Approach (10:58 – 20:36)

  • Typically works with established businesses wanting to scale
  • Provides CFO services with varied industry experience
  • Sits in on weekly meetings to discuss implications of business decisions
  • Creates metric boards for all employees to track performance
  • Emphasizes importance of company culture on profitability

📊 Financial Focus Areas (20:36 – 30:34)

  • Sales pipeline is critical – should be reviewed weekly
  • Pricing strategy is important – recommends annual increases
  • Productivity tied to employee happiness and engagement
  • Debi’s grandfather’s story inspired her to start her business
  • Discusses her varied career background before starting Acumaxum

👥 Leadership and Employee Management (30:34 – 38:26)

  • Importance of listening to team members and their ideas
  • Shares personal story of accidentally dismissing an employee’s idea
  • Stresses need to hear people out before saying no
  • Discusses learning to be quiet in sales situations

🏢 Business Growth and Challenges (38:26 – 47:29)

  • Shares story of starting bookkeeping services and later discontinuing it
  • Emphasizes importance of acknowledging when things aren’t working
  • Discusses challenges of scaling a business
  • Stresses importance of focusing on what you do well

🚀 Personal Journey and Lessons (47:29 – 56:52)

  • Debi shares her career path from accounting to entrepreneurship
  • Discusses overcoming fear to start her own business
  • Emphasizes importance of taking calculated risks
  • Shares lessons learned from her mother’s career

🌟 Networking and Helping Others (56:53 – 01:04:53)

  • Stresses importance of connections and networking
  • Encourages asking for help and allowing others to help you
  • Discusses upcoming anthology book project for women in business
  • Emphasizes need for men to be part of conversations about women in business

📚 Closing Thoughts and Contact Information (01:04:53 – 01:14:42)

  • Discusses origin of company name “Acumaxum”
  • Provides contact information and social media presence
  • Reflects on the importance of helping others and continuous learning
  • Expresses gratitude for the opportunity to share her experiences

Content Notice

This podcast and all She Lift Project content represents the opinions of Cynthia Kirkpatrick and her guests. The content here is for informational purposes only, and should not be taken as professional advice – financial, legal, medical, or otherwise.

Views and opinions expressed in the podcast and across all She Lift Project media channels are our own and do not represent that of our places of work. While we make every effort to ensure that the information we are sharing is accurate, we welcome any comments, suggestions, or correction of errors.

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