Episode Synopsis "On Adaptability"
An un unscripted monologue on adaptability. It's a bit on the long side — one take, no editing! — so if you'd like to jump to a specific section you can: 1:00 - The current adaptability crisis 3:45 - Why adaptability matters 6:38 - Cash is reality 8:30 - How much cash do you need? 10:25 - Cash and employee experience 11:50 - The virtue of frugality 14:00 - Price optimization and sacrificing volume 15:20 - Cutting costs to build cash reserves 17:45 - Free cash flow - what it is and why it matters 21:10 - Working capital and freeing up cash 24:30 - Cost structures and their link to adaptability 29:00 - Do you have the right cost structure? 30:50 - Don’t trust people with high fixed costs! 33:40 - Capacity management and slack in the system 37:00 - The relationship between growth and complexity 42:00 - Never let the past look more appealing than the future 44:00 - Reframe challenges as opportunities 45:00 - Get started on the next thing earlier than you think