The number one piece of advice I would give is to learn how to identify A players early on. It's not just about recognizing the highest performers, but understanding how to spot an A player and why they stand out. You need to ask the right questions to determine how skilled someone truly is. One method that’s been really useful for me is when someone claims they can do something, I ask them to share their screen and show me the evidence right away. Just get them to demonstrate exactly what they ...
Nov 27, 2024•37 min•Ep. 648
There's one thing I see people often overlook, and it's something I personally struggled with—recognizing that your greatest asset is your team. One book that really resonated with me is People Over Profit, which emphasizes the importance of treating your people right. When you prioritize and invest in your team and focus on improving the customer experience, profit naturally follows. In that book, they argue that people should always come before profit, because when profit becomes the top prior...
Nov 22, 2024•26 min•Ep. 647
One key rule of thumb is to prioritize activities that directly drive revenue, rather than getting caught up in distractions. What I mean is that many new entrepreneurs often get bogged down by things like designing the perfect website, picking the right logo, deciding on brand colors, or obsessing over the details of their LLC formation. While these things are important eventually, they can easily become a way to avoid the real work that actually moves the needle—like talking to potential custo...
Nov 20, 2024•21 min•Ep. 646
I always say, if you're going to do something, commit fully—go all in. I've seen too many people start a startup with one foot in and one foot out, and that makes everything harder. It creates confusion and feedback that isn’t really reflective of the situation because you’re not fully invested. You have to be ready to take risks—real risks—because that's the only way you'll find out if it’s going to work. If you’re not all in, you can’t ask anyone else to be. You can’t ask others to make sacrif...
Nov 18, 2024•36 min•Ep. 645
If you’re venturing into a small business or launching your own startup, mastering the art of focus is essential. When you truly concentrate, you avoid spreading yourself too thin and gain clarity on what you need to prioritize. A strong focus allows you to identify where you can make an impact and helps you recognize the importance of seeking out partnerships to fill any gaps in your expertise. In short, prioritize learning to focus, and always maintain that focus.
Nov 04, 2024•22 min•Ep. 644
The most important thing to remember is not to enter a startup with the sole goal of making a lot of money. Early on, I made that mistake, thinking that having an equity stake in a company would lead to significant wealth. While it's true that you can earn money in various ways within startups, if your primary motivation is to get rich, you might end up feeling disappointed. The reality is that more startups fail than succeed, and it’s a challenging environment.
Nov 01, 2024•34 min•Ep. 643
One major mistake I made early on was not investing enough time or money into solid business bookkeeping. I mixed my personal and business finances for a while, which created quite a mess, and I underestimated how complex it could get. Now, having a fractional CFO has made a huge difference. Looking back, I wish I had prioritized accounting from the start, even if it felt financially tight. Strong bookkeeping and accurate records for expenses and revenue can really improve your position and help...
Oct 28, 2024•24 min•Ep. 642
It's easy to get caught up in whatever you're involved in right now. It feels like it's everything—your whole life and career wrapped up in it, which is great. But remember, at some point, it will come to an end. That could be in two years, ten years, or even twenty, but most likely it’ll be somewhere between two and ten. When it's over, you might realize that the most valuable takeaway from the experience isn’t the money you made or the accolades you received, but the relationships you built al...
Oct 25, 2024•33 min•Ep. 641
Leverage the expertise of advisors—they’re invaluable. Even after spending 20 years in the corporate world, I sought out advisors for my company. One in particular, who has since passed, often reminded me, “Only do what only you can do.” That’s a lesson worth exploring further!
Oct 23, 2024•29 min•Ep. 640
Be relentless in your focus on business growth by identifying what sells and prioritizing effective marketing and sales strategies. In a startup, even the best products or services won’t succeed without visibility. Money creates options, so it’s essential to concentrate your efforts. If you’re unsure of your next steps, dedicate time each day—like the first 40 minutes—to learning something new and applying it. This proactive approach can significantly drive growth and help you make an impact....
Oct 21, 2024•34 min•Ep. 639
Please take the time to do your homework. Before launching anything, I highly recommend completing a business plan, identifying your target market, conducting a SWOT analysis, and setting SMART goals. Many people underestimate the importance of this preparation, but it's crucial to understand potential target markets, analyze competitors, and define your niche to ensure you stand out. Being thorough can help you avoid impulsive decisions that could lead to serious setbacks. Make sure you’re full...
Oct 16, 2024•23 min•Ep. 638
I believe a lot of it comes down to having self-confidence—truly being able to stand behind what you’re doing. For instance, I’ve always thought I could never be a salesperson; I wouldn't be able to sell you a car. But when it comes to starting something new, you’re essentially selling yourself, and we’re always doing that in our interactions with others. If you don’t genuinely believe in what you’re launching, it’s probably not the right time.
Oct 14, 2024•28 min•Ep. 637
When people think of entrepreneurship, they often envision startups and creating something new from scratch. However, I've come to appreciate entrepreneurship through acquisition as a valuable alternative. With 99.9% of American companies being small businesses and many baby boomers retiring without viable options for selling their businesses, we face a significant loss to our economy. I believe that by acquiring and running a small business, I can contribute meaningfully to preserving its legac...
Oct 02, 2024•27 min•Ep. 636
I highly recommend that every business create a clear written plan outlining their goals and the steps to achieve them. This living document, which you should review weekly, helps you stay focused and avoid getting sidetracked by tempting opportunities that may not align with your objectives. It also allows you to track your progress, especially during times when it feels like you’re just treading water. Moreover, having a solid plan enables you to filter well-meaning advice from friends and ind...
Sep 30, 2024•26 min•Ep. 635
I strongly encourage them to remain adaptable and curious, engaging in as many conversations as possible. Whether you call it pivoting or something else, it's crucial to refine not just your product-market fit but also how you communicate your vision. The way you articulate the potential of what you’re building is always evolving, especially in those initial months and years. Staying open to feedback and viewing every interaction—like your elevator pitch—as a learning opportunity is key. Effecti...
Sep 27, 2024•28 min•Ep. 634
Take the time to do your homework and learn from our mistakes. Conduct thorough due diligence and crunch the numbers. If you're launching a new business, research the market for your product, confirm there's demand, and assess your resources. Consider how long you can operate without making a profit. Make sure you’re well-prepared and have the resilience to weather the early stages, as most businesses take time to become profitable. Do your calculations carefully before diving in...
Sep 25, 2024•30 min•Ep. 633
When I first launched my mental health practice, my partner and I had a clear vision, but we ended up taking a different path. I tried projects like grant writing for nonprofits and career coaching for social workers—neither of which aligned with my strengths or passions. Despite recognizing a significant need for the latter, it never felt right as a full-time pursuit, and none of these ventures succeeded as I had hoped. Recently, I finally listened to the persistent inner voice urging me to foc...
Sep 23, 2024•27 min•Ep. 632
Seek out an accelerator program and get involved to learn the ropes. Running a business is as challenging as pursuing science. Master the skills needed, and you could successfully advance your project in tandem. However, don’t approach me without some entrepreneurial training. Entrepreneurship is a craft honed by those who study it, so head back to school and get the expertise you need.
Sep 16, 2024•28 min•Ep. 631
I come from a background in live TV, where I've encountered my fair share of unexpected moments. That experience has taught me to handle any curveball with confidence. When it comes to answering your question, here's my advice: if you're just starting out in any field, it's crucial to have a clear and compelling offer. A confused mind doesn't make purchases, and it's equally challenging to sell to someone who's confused. Focus on one ideal client and one specific offer. Master the art of selling...
Sep 09, 2024•42 min•Ep. 630
As a small business owner, it's incredibly easy to spend money. You'll encounter more opportunities to spend than you ever expected—whether it's on business cards, letterhead, or the latest shiny software. While it's tempting to invest in every new thing, remember that your most valuable resource is your cash flow. Properly managing it is crucial for your growth and success. Before making any purchase, take your time to evaluate it. Step away and reconsider whether it’s truly necessary.
Aug 26, 2024•32 min•Ep. 629
It's crucial to fully understand what you're getting into. Starting a business isn't for everyone, but if you decide to proceed, surround yourself with experienced founders, advisors, and mentors who have navigated similar challenges. Look for people who have achieved the goals you aspire to reach. That’s a solid foundation to begin with.
Aug 23, 2024•28 min•Ep. 628
I'd advise diving deep into understanding your customer. Many people start businesses because they’re passionate about what they do and believe they can handle it on their own, without a boss. This passion is crucial, as running a business can be incredibly challenging. You’ll face days where revenue sources are uncertain, and growth can seem elusive. It’s essential to persist, stay committed, and maintain your belief in what you’re building.
Aug 19, 2024•37 min•Ep. 627
Understanding yourself is crucial. Imagine a vinyl record spinning: the center spins slowly and steadily, while the outer edge moves quickly and erratically. Similarly, when you’re at the core of your identity, you remain grounded, but when you’re on the periphery, you can be easily tossed around. If you’re starting something new, like a business, you need to have a strong sense of who you are. This self-awareness will become clear as you face countless decisions and uncertainties. To navigate t...
Aug 14, 2024•39 min•Ep. 626
I'd say, first and foremost, go all in—that's crucial. Though you asked for one thing, here are three. It's really a success formula: fully commit, believe in your capability, and cherish the journey. This formula has proven effective for successful companies. When you commit wholeheartedly, maintain belief in yourself, and find joy in the process—even through the challenges of startups—you'll look back and realize those tough moments were also some of the most memorable and rewarding ones....
Jul 22, 2024•28 min•Ep. 624
My top advice for anyone is to start building your presence publicly. I recently posted about a business I've launched, and within the first twelve months, we've received inquiries from 127 companies. This success stems from building an audience on LinkedIn over four years before launching. This groundwork helped establish my credibility and presence, paving the way for approximately $400,000 in revenue within our first full calendar year. With recent expansions, including hiring six new team me...
Jul 19, 2024•29 min•Ep. 623
Embrace change and stay adaptable. Learn to pivot in any circumstance and maintain a positive attitude. The journey ahead may be challenging with unexpected twists and turns, but staying positive and persevering is key. Never give up on yourself; believe that things will eventually fall into place.
Jul 17, 2024•25 min•Ep. 622
If they were just starting their business, I would advise them to ensure they conducted thorough market research before opening. If they neglected this step, especially in the case of a unique business such as event planning, I would recommend they find a community of peers in the industry. Building such a network can provide crucial support and collaborative opportunities, ensuring mutual benefit and shared success through profit-sharing and other affiliations.
Jul 15, 2024•24 min•Ep. 621
I would emphasize that it's crucial to establish proper practices right from the start, particularly in areas like accounting and finance. Many people encounter significant issues by mixing personal and business funds, not maintaining separate accounts, or failing to set up the appropriate legal structure such as a C Corp or LLC for their company. These oversights can lead to serious consequences, including unexpected tax liabilities or legal scrutiny in the event of an audit by the IRS. Therefo...
Jul 12, 2024•23 min•Ep. 620
One piece of advice I would offer is to follow your own path. While it's valuable to consider input and advice from others, the key is to adapt that guidance in a way that feels authentic and comfortable to you. Every individual is unique, and that uniqueness is what sets you apart in your business. Strive to be the best version of yourself, and your business will naturally reflect that authenticity. This differentiation is crucial because it attracts clients who resonate with your style and app...
Jul 10, 2024•24 min•Ep. 619
The mentorship and network in place are, in my opinion, more crucial than the specific activities within your business. While education, training, and experience can develop other aspects, without the right support network—those who guide, connect, and uplift you—progress stalls. Your intelligence and product brilliance become irrelevant if you lack this essential foundation.
Jul 08, 2024•32 min•Ep. 618
