Competitive edge: 70% cost savings by mastering remote work.
An expert on hiring & managing an offshore workforce, Nick Huber's company spends $1.5m on annual payroll, versus his same-sized competitor that's at $5.0m. That's $3.5m of savings (70%!) which can be reinvested into marketing, lower prices, add-on acquisitions, more competitive wages, etc.
Operational excellence can also make you lethal in M&A because you can afford to pay more (example: let's bid 7x because we can shave EBITDA by $3.5m, so the effective EBITDA multiple is actually just 4x...).
Nick Huber was this week's guest on the Minds Capital Podcast (YouTube, Spotify, Apple Podcasts) where we learn that typing speed is the most important screening filter when hiring remote talent (never hire below 40wpm!).
