Scaling Up Business Podcast

Greg Crabtree is a speaker, author, entrepreneur, and financial expert. In 2011, Greg published his first book, Simple Numbers, Straight Talk, Big Profits! where he shares his core principles on how to turn your business into a wealth building machine. Today, Greg and I discuss the labor efficiency ratio (LER) and what it means to your business. Greg grew up on a chicken farm in Alabama and quickly realized that raising chickens was not something he was destined to do. At the age of 14, his mother took him to a CPA to have the family's taxes filed and he discovered a passion for finances. If you were to get run over by a bus today, what would it take for your family to continue your business? Who could accurately replace you? Greg says there are two types of laborer categories: direct labor and management labor. Based on the role you play in your business and what category you fall in, you will have to find a person that matches your category type in order to successfully carry on the business. By practicing