271: How a CEO Masters Profit and Hospitality

This episode is a must-listen for business leaders to learn actionable strategies for scaling ventures, fostering team loyalty, and navigating crises without layoffs. Discover why David's empathy-driven leadership and his financial drive long-term success in his business.   David Steele is the visionary CEO and co-founder of One Wealth Advisors, a $1 B+ independent RIA firm simplifying financial lives through holistic wealth planning and investment strategies. A serial entrepreneur and strategic leader, he drives innovation across industries, from wealth management to hospitality as co-founder of Flour + Water Hospitality Group, renowned for award-winning restaurants merging culinary excellence, sustainability, and community impact.   Key Takeaways: Passion Over Profit: Build ventures around interests, not just numbers. David's restaurants and wealth firm thrive because they reflect his genuine enthusiasm, attracting loyal clients and customers. Operational Efficiency: Revenue can mask inefficiencies. Prioritise systems over short-term gains  Delegate to Scale: Combat the "disease of non-scalability" by delegating low-risk tasks first. Use "osmosis learning." Empathy-Driven Leadership: Ask, "How is this person feeling?" David's teams have low turnover because he creates safe, inspiring environments where employees grow Financial Resilience: During COVID, David avoided layoffs by cutting executive pay 40% and leveraging disciplined spending habits Resources:  David Steel's site: Https://davidsteele.xyz/ If you want to create a reliable cash flow for your business, I have some tools and resources that can help.   Take the Profit Scorecard (3 minutes) and identify where you are leaking profit now – click here.