4.8 • 1.5K Ratings
🗓️ 26 August 2024
⏱️ 38 minutes
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0:00.0 | A few weeks ago I was talking to John Mackie, the founder of Whole Foods, and he told me one of the craziest things anyone has ever said about the podcast. |
0:06.8 | He had listened to over 100 episodes before he met, and he told me that if founders existed when he was younger, |
0:12.1 | that Whole Foods would still be an independent company. |
0:15.0 | He said that since the podcast and all of history's greatest entrepreneurs |
0:17.6 | constantly emphasize the importance of controlling your expenses, |
0:21.0 | he would have put more of a priority on it, especially during good times. |
0:24.4 | It is natural for a company, and I think for human nature, to just not watch your costs as closely because everything is going so well. |
0:31.2 | Andrew Carnegie had one of the best ways to describe why this is so |
0:33.7 | important because he would actually repeat this mantra time and time again he |
0:36.7 | would say profits and prices are cyclical subject to any number of transient forces |
0:41.2 | on the marketplace. Costs, however, could be strictly |
0:44.2 | controlled and in Carnegie's view any savings achieved in the costs were permanent. |
0:48.9 | That quote from Carnegie is something I was talking about with my friend Eric |
0:52.2 | who's the co-founder and |
0:53.3 | CEO of RAMP RAMP is now a partner of this podcast I've gotten to know all the |
0:57.9 | co-founders of RAMP and I've spent a ton of time with them over the last year |
1:00.9 | or two they all listen to the podcast and they picked up on the fact that the main theme from the |
1:04.6 | podcast is on the importance of watching your costs and controlling your spend. |
1:09.0 | And how doing so can give you a massive competitive advantage. That is a main theme for |
1:14.0 | ramp. The reason that ramp exists is to give you everything you need to control |
1:18.3 | your spend. Ramp gives you everything you need to control your costs. |
1:22.8 | Ramp gives you easy to use corporate cards for your entire team, |
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