
Ep 322 | FCF - IYKYK
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The group discussed a video Austin posted on Instagram of JM4 waving, which received a positive response from followers including Miranda's mom. They joked about how older relatives may not understand the context of such videos.
John shared a seminar he gave on understanding free cash flow versus minimum account balances, which Austin found very helpful in coaching franchisees on managing their finances more effectively. They discussed the franchise model of holding franchisee cash in a central account and releasing it periodically.
The group compared the franchise models of StudentWorks, ProWorks, and Rydel, discussing the pros and cons of centralized cash management, minimum account balances, and dealing with local competitors. They explored strategies for maintaining a pricing advantage as the incumbent brand in a market.
Amer proposed creating a comprehensive training curriculum for developing future leaders, and the group brainstormed a sequence of books and concepts to build the desired mindset and skills, including subtracting negative influences and adding foundational principles.
The group agreed to continue the discussion on the training curriculum in a future meeting, and acknowledged the value of documenting these conversations to build their collective expertise.