Ep. 238: Josh Fonger - Creating a Systems-Minded Organization

Ep. 238: Josh Fonger - Creating a Systems-Minded Organization

29 Minuten
Podcast
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IMA® (Institute of Management Accountants) brings you the latest perspectives and learnings on all things affecting the accounting and finance world, as told by the experts working in the field and the thought leaders shaping the profession.

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vor 2 Jahren

Join host Adam Larson as he sits down with the brilliant
entrepreneur and CEO of WTS Enterprises, Josh Fonger. In this
episode, Josh delves into the captivating topic of the systems
mindset for entrepreneurs and business owners. Uncover the
secrets behind working on your business rather than in it and
discover how this shift can drive exponential growth and success.
Josh, with his wealth of knowledge and experience, reveals how
business owners can streamline and optimize their processes,
increasing profits and reducing time. If you're ready to take
your business to the next level, don't miss this dynamic
conversation with Josh Fonger.


Full Transcript:
< Intro >


 


Adam:           
Welcome back to another episode of Count Me In. I'm your host,
Adam Larson, and I'm thrilled to have our special guest with us
today, Josh Fonger. Josh is an experienced entrepreneur and the
CEO of WTS Enterprises. In today's episode, Josh will enlighten
us on the crucial difference between working in your business
versus working on it. And why this shift is essential for growth,
particularly, for business owners and entrepreneurs. 


 


We'll discuss how getting caught up by day-to-day operations can
hinder business growth, innovations, and long-term vision. Josh
is an expert in helping companies navigate this challenge, by
utilizing the Work the System, or WTS, method. He emphasizes the
importance of backfilling our current tasks and
responsibilities. 


 


So we can jump ahead and lead our organizations effectively. But
it's not just about the concept. Josh provides practical insight,
on how to take action and implement a systematic approach to run
a business. So get ready and gain some valuable insights, tips,
and strategies. As we explore the power of a systems mindset,
with our incredible guest. Let's dive right in.


 


< Music >


 


Adam:           
 Josh, I want to thank you so much for coming on the
podcast. Really excited to talk about entrepreneurs, and that
systems mindset that you talk about. But to get started, maybe,
we can start by discussing the difference of working in your
business versus working on it, and why that's essential for
growth, especially, for business owners and entrepreneurs?


 


Josh:             
 Yes, and this is not a new concept. I think people
have been aware of this, heard this, for decades. Popularized by
The E Myth, Michael Gerber's, bestselling book. And the key thing
that I do is help companies, actually, make that happen. The big
the big issue, of course, whether it's a manager, an owner, or a
CEO, is that they are doing the work as a technician, instead of
leading the work or growing the organization. 


 


And, so, that's the key thing, is that if you're doing the work,
then no one is doing the business growth, no one's doing the
innovation, no one's doing the expansion. No one's casting the
vision for the next series of years. Instead, they're talking
about the next five minutes, and maybe the next five hours, and
that's really the issue is that companies stay stuck when they're
looking short term. 


 


And, so, what I focus in on is helping, mechanically, because
it's more than just an idea. They need to think differently, but
then they, actually, have to take different actions. Is help
business owners and leaders take those actions, in a methodical,
mechanical way, so that they're backfilling what they're
currently doing. Because you can't just jump ahead somebody's got
to do the work. 


 


And, so, there needs to be a way, which we call working the
system, or the WTS method, a way to backfill what you're
currently doing. So you can jump ahead and lead the
organization. 


And, the idea, again, simple enough, work on the business instead
of in the business. But, mechanically, and infrastructure-wise,
to do that takes some heavy lifting, some rolling up of the
sleeves. That's what we want all of our clients to get is that,
there's a process you can take. And if you work the process, you
work your systems, that freedom and that growth will become a
mechanical reality.


 


Adam:           
So maybe we can dig in in a little bit more into this work, this
system method that you're talking about. I know that you have a
book, that we'll put a link in the show notes for everybody,
maybe, you can talk a little bit more about that. How does that
enable your business owners to do things like increase profits,
reduce time? I know those are a lot of things that you speak
about, maybe we can talk a little more detail on that.


 


Josh:             
 Yes, so everyone uses all their time, and
everyone, essentially, uses all of their resources, and so you're
bound by those. And, so, the way to expand your business, expand
your life, is to do a better job with those resources. And, so,
working the system is all about getting more efficient. And, so,
how do we do that? Well, we help people not just react to the
problems of their business or the stimuli that's coming their
way. But instead, take charge or take control of the systems that
they know are going to keep happening. 


 


So instead of just reacting to a phone call coming in. Instead,
manage or control that system, so that you and your team know how
to answer the call, to be the best with it. And let's just say
answering the phone is one of 300 different systems that maybe
your company has. And instead of winging each system and
following it the way you've always done it before. 


 


If you take the time to look at each system, as a separate
entity, and then figure out what is the best way to make it the
fastest, the lowest cost, the highest efficiency, the highest
profitability. What are the ways we can optimize each of those
little pieces, which can be done if they're written down and
looked at, objectively? You're going to find that the assemblage
of those separate pieces are going to result, we're talking to
math folks here, accountants, the result is going to be a much
better business.


 


It's not going to be surprise when your company is running way
better, way more profitably, when the separate pieces, that make
up your business, are each improved by 5%, 10%, 20%. Each of
these pieces are then going to equate to a multiple of what you
ever thought possible. Because we work with companies, everyone's
already working hard. Everyone's already doing their best. 


 


And, so, we let them know, "You have to work differently, if
you're going to expand beyond your current best." Because
everyone's already trying their best. Everyone's already working
hard, everyone's already maxed out. 


 


So knowing that plateau is already reached, in the organizations
we work with, the goal is, "Okay, well, now we're going to have
to work differently. We're going to have to work in a different
way." And that's going to be working on these separate systems.


 


Adam:           
So a lot of times when you say the word systems, people think
these are different softwares that I'm using, or different things
like that. But you're talking systems as more of all the
processes that...

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